This system is very simple but requires the ability to open 20 equal positions. I've been using it on the Euro getting over 5% a week.
1) Choose a direction using whatever method you want or guess it really don't matter.
2) Sometime before or after all the news for the day is released, open your trade. 1 position, no sl, and 50 pip tp, I use 50:1 leverage which gets me about 1% per position opened you will do better with higher leverage just make sure you have enough margin for 20 positions.
3) Come back the next day before or after news releases(same as step 2) and if the trade is still there open another position and move the TP for all open positions to 50 pips from your average position, if it's gone it's gone go back to step 1.
4) Repeat step 3
Even if you choose the wrong direction a small correction will get you your pips when averaged out, I haven't waited more than a week and at one time it was 150 pips away from mt TP. I place my trades around 11:00pm NY time, I use OandA so splitting an account into 20 positions is easy since their minimum contract is $1.
Update 8/17/12: I have been opening new trades immediately after my TP is hit, then I add additional positions the same time every day until the TP is hit. It increases profitability.
Update 8/19/12 Updated rules in post #91 in this thread. Also all new trades after 8-20 will be split into 2 accounts. Long in one account and shorts in the other.
1) Choose a direction using whatever method you want or guess it really don't matter.
2) Sometime before or after all the news for the day is released, open your trade. 1 position, no sl, and 50 pip tp, I use 50:1 leverage which gets me about 1% per position opened you will do better with higher leverage just make sure you have enough margin for 20 positions.
3) Come back the next day before or after news releases(same as step 2) and if the trade is still there open another position and move the TP for all open positions to 50 pips from your average position, if it's gone it's gone go back to step 1.
4) Repeat step 3
Even if you choose the wrong direction a small correction will get you your pips when averaged out, I haven't waited more than a week and at one time it was 150 pips away from mt TP. I place my trades around 11:00pm NY time, I use OandA so splitting an account into 20 positions is easy since their minimum contract is $1.
Update 8/17/12: I have been opening new trades immediately after my TP is hit, then I add additional positions the same time every day until the TP is hit. It increases profitability.
Update 8/19/12 Updated rules in post #91 in this thread. Also all new trades after 8-20 will be split into 2 accounts. Long in one account and shorts in the other.
