This might have been asked already, but lets say I have $5k initial deposit. I only want to make 100 dollars a day. At 2 lots worth $20, I'd need only 5 pip gain a day. Unless you get in at the low or high of a daily candlestick which you can't determine, it's bound to whip in both direction in 5+ pips.
Question is, couldn't you just use the most simple system in the world to make that 5pips? I think it was someone on these forums that posted it.
The "system": Choose anytime you want, preferably an open of some market. US, Japan, etc...
You trade that same time everybody.
All you have on your chart is the candlesticks, and something to determine trend. It can be oscillators, macd, adx system, or two plotted moving averages.
-At the time you trade everyday, just enter a trade based on the daily candlestick. If it's bear, short, if it's bull, long. Also set in your 5pip TP and SL accordingly.
-If the candlestick coincides with the trend. Risk 50% more. So instead of 2 lots, buy 3.
Question is, couldn't you just use the most simple system in the world to make that 5pips? I think it was someone on these forums that posted it.
The "system": Choose anytime you want, preferably an open of some market. US, Japan, etc...
You trade that same time everybody.
All you have on your chart is the candlesticks, and something to determine trend. It can be oscillators, macd, adx system, or two plotted moving averages.
-At the time you trade everyday, just enter a trade based on the daily candlestick. If it's bear, short, if it's bull, long. Also set in your 5pip TP and SL accordingly.
-If the candlestick coincides with the trend. Risk 50% more. So instead of 2 lots, buy 3.