DOS. Daily Open Strategy. Easy To Trade, Simple To Win (EA..soon)

DOS - Daily Open Strategy

As of 10-Jan-2023, this thread moved to the commercial content section, since this strategy became a fully proffesional expert-advisor and I manage a few private accounts.

Works for every major currency pair, based on Daily bars.
No indicators or oscillators needed.
Based on more than 10 years of history data check.
Martingale strategy. Average Down strategy.
Most of the trades in 1st entry will close in TP, but if price goes against the trade, we will open additional trades once a day until we close all open trades as a “basket” of trades when sum of money of the basket is positive.

Conditions:
If difference in pips between Open to Close (or Close to Open) of previous daily closed bar is more than 110 pips, then at the open of current day - open a market order to the opposite direction of previous day.
i.e: if yesterday’s daily bar is Bullish (moved up) and BODY (Close price - Open price) is more than 110 pips, then today at the Open of new daily bar, at 00:00, open Sell market order.
Note: if spread at midnight is too high (more than 4.0 pips) – Don’t open a trade yet. Wait with market order till spread narrows back. It may take even 1-2 hours but usually it will take only a few minutes. So once spread is less than 4.0 pips, open the trade.
TP = 20 to 50 pips, depends on currency’s volatility.
No SL.
If price goes from last entry against the direction of the trade, open at the Open of every new day an additional market order with same lot size as original trade. No TP for additional trade.
Close all trades together when sum of all open profitable and losing trades (“basket“) is positive (may be 0.1$ or 1$).
Instead of SL: If sum of all open trades (“basket”) is losing more than 25% of account balance – close all trades. *This may happen once in a decade if at all.

*110 pips - depends on currency’s volatility. Can be 70 pips for low volatility currencies and on the other hand can be 150 pips for high volatility currencies

For account balance of each 2,000 the fixed lot size will be 0.03.
i.e if account balance is 12,000 and up to 13,999 than fixed lot size is 0.18
i.e if account balance is 20,000 and up to 21,999 than fixed lot size is 0.3

Here is an example of price goes against initial trade's direction.
We open 1 trade per new day, if price goes against the direction of previous day's entry, same lot size each entry.
Closing all trades as a basket at breakeven + minimal profit. So some entries are in profit and some are losing.

Isn't it that easy and simple?

Surely can write and EA for this idea. How you know it is profitable in first place?

Thanks, mate.
I already work on building an EA for this.
I already checked it with my EA which shows exact the same, but it still needs some modifications, which are not related to entry and exit.

And this is an example of how robust this strategy is according this prototype EA.

Since in the last few years, 110 pips is considered bigger size than usual daily body bar size, there will be fewer trades per month for each pair.
Therefore, I recommend to use this strategy in all major crosses, so we get about 10-30 trades each month which can give us an average 80%-100% annual profit.

looking good there

Did I miss any major point in the strategy?
Please share with us.

For those who asked me:
The arrow drawings on the chart are only for the ease of mind and are NOT part of a mandatory indicator for entry discretion.
I may upload it here later if you want.

How about candle close DOJI?

What about it?

Hi Smilee89, Good afternoon. I am now in Forex trading, would like to learn more from all the expects.
Will read through and see whether can understand, thank you for sharing.

Hello smilee
Please post the indicator which marks candle bodies of over 110 pips
Thanks