I read the entire thread in Moneytec about this system. It is based on a profit target of only 50 pips per week, and continuously increasing your trade amount as your account grows in value. It is used on the USD/CHF because of its high volatility. With Swissy, you should be able to get 50 pips profit per week pretty easily. According to the poster on moneytec, since January 2003 he has had 44 weeks of 50 pip profit, 3 weeks of losses, and a couple of weeks of 10-20 pip profits.

This is the essence of the system: At the completion of the 7am-8am ET candlestick, you place a buy stop entry at 27 pips above the close of this candlestick, and a sell stop enty at 23 pips below the close. Set 50 pip stop losses.

Your profit target is only 50 pips each week. If close to 12 noon you are up only 20 pips for instance, you take the 20 and come back tomorrow to try to get the other 30. At 12 noon, you close out your position. Once you realize 50 pips profit, you are done for the week-- no more trading. The principle here is that excessive trading is generally not good for your account.

If you start with a $10,000 account, you trade 1 lot until you have $11,000. then you trade 1.1 lots ($11 per pip); $12000, 1.2 lots ($12 per pip) etc. After 1 year you will grow your account to $70,000, and after 2 years your account will be $1,100,000. I have not tried it yet, but if you look at the historical USD/CHF charts you will see that big daily moves are fairly common, especially on the short side. The objective of this system is not to hit grand slams but instead to realize slow but steady growth of your account.

This is the essence of the system: At the completion of the 7am-8am ET candlestick, you place a buy stop entry at 27 pips above the close of this candlestick, and a sell stop enty at 23 pips below the close. Set 50 pip stop losses.

Your profit target is only 50 pips each week. If close to 12 noon you are up only 20 pips for instance, you take the 20 and come back tomorrow to try to get the other 30. At 12 noon, you close out your position. Once you realize 50 pips profit, you are done for the week-- no more trading. The principle here is that excessive trading is generally not good for your account.

If you start with a $10,000 account, you trade 1 lot until you have $11,000. then you trade 1.1 lots ($11 per pip); $12000, 1.2 lots ($12 per pip) etc. After 1 year you will grow your account to $70,000, and after 2 years your account will be $1,100,000. I have not tried it yet, but if you look at the historical USD/CHF charts you will see that big daily moves are fairly common, especially on the short side. The objective of this system is not to hit grand slams but instead to realize slow but steady growth of your account.