Open trade daily at exactly 23:00GMT

Mcmep11, it will depend on your broker's time and not on your location's time or timezone. That is what I surmise from your question.

Anybody having success with this system? Just look at the chart for the past few months and you'll see it's effective.

Although I lost 40 pips last Tuesday, I still gained an overall of 204 pips last week.

Today, I just went for 20 pips since price is already very high. Will wait and see.

Anyway you post a chart so we can check to see if we got the time right?

I noticed that you said that you do not use a stop loss if you are monitoring the trade and my question is. If you are monitoring the trade and are trying to gain more than 20 pips does the trade tend to come against you in excess of 20 pips or more. I guess what im wondering is if the 20 SL is sufficent enough to keep if you are going for more than 20 pips or should i allow more breathing room for it to make its swings. Thanks in advance. And thanks for the strategy it seems very interesting. God Bless

Pippy Cent - Yes, it sometimes do. I usually don't like to lose more than 40 pips for AUDUSD but 20 pips s/l is not enough. It really depends on a person how many pips he is willing to risk. I would like to say that since this system is effective since May 2007, I am willing to risk up to 40 pips because I can earn more pips in other days.

Remember that forex is really like gambling. You'll never know or can predict what is going to happen. You can just gamble on betting on the current trend or against it on that particular day. You just use a system which is currently giving a high percentage of success. But if it becomes ineffective, you can try another system which is effective. You can go back to a former system if it becomes effective again. So basically, one has to have a couple of successful systems which you have tested in the past.

Banzai - Here is the attached chart. I trade at 23:00GMT and open is 0.8968

Only 45 pips this week. Loss of 40 pips each on 10/10 and today. Price is now going up fast, arrrhhh! Well, at least I'm used to these things now and it's still positive for this week.

Hi Qwert, please continue the journal!