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Quick Cash System

  • #1
  • First Post: Jan 24, 2008 1:23am Jan 24, 2008 1:23am
LOL, well, that kind of a thread title ought to attract at least one visitor to this thread.

Because of its volatility I have picked GBP/JPY to test this idea on.

Method
1) Open long & short with TP = 5, SL = 0 (zero, thats not a typo)
2) Wait for TP on both positions.

Assumptions
Given the way this pair (GBP/JPY) moves in both directions, I have presumed a small tp of 5 will always be possible.

Proof of the Pudding
I have no proof to show you at this time, I have traded this live with 0.01 on IBFX - About four times, and the TP was always hit.
Note: Avoid using this method at news time
AND...Good luck.
All disclaimers that spare me legal trouble arising out of this post are hereby applied.
  • #2
  • Jan 24, 2008 1:39am Jan 24, 2008 1:39am
Nice straddle
  • #3
  • Jan 24, 2008 1:40am Jan 24, 2008 1:40am
Quoting shiva
LOL, well, that kind of a thread title ought to attract at least one visitor to this thread.

Because of its volatility I have picked GBP/JPY to test this idea on.

Method
1) Open long & short with TP = 5, SL = 0 (zero, thats not a typo)
2) Wait for TP on both positions.

Assumptions
Given the way this pair (GBP/JPY) moves in both directions, I have presumed a small tp of 5 will always be possible.

Proof of the Pudding
I have no proof to show you at this time, I have traded this live with 0.01 on IBFX - About four times, and the TP was always hit.
Note: Avoid using this method at news time
AND...Good luck.
All disclaimers that spare me legal trouble arising out of this post are hereby applied.

Hi

i dont understand, what about spread??
please give us an example!
  • #4
  • Edited 3:20am Jan 24, 2008 2:03am | Edited 3:20am
Hi Shiva. Genius is simple. Go on with your research.
  • #5
  • Jan 24, 2008 2:25am Jan 24, 2008 2:25am
9 pips spread on IBFX and 5 TP, i think it won't work on long term.

Besides one day it will not close one of the positions and when it happens what you'll do.

I'm saying this because i already try something like this
No Brain, no Gain.
  • #6
  • Jan 24, 2008 4:40am Jan 24, 2008 4:40am
????

TEB
  • #7
  • Jan 24, 2008 4:42am Jan 24, 2008 4:42am
Quoting TEB63
????

TEB
!!!
  • #8
  • Jan 24, 2008 4:44am Jan 24, 2008 4:44am
Quoting BGazzoni
9 pips spread on IBFX and 5 TP, i think it won't work on long term.

Besides one day it will not close one of the positions and when it happens what you'll do.

I'm saying this because i already try something like this
Gazzoni, this is only an idea, not a method or system I am recommending, I am inviting feedback and suggestions.

As to the spread, if the tp hits why worry about the spread?

And if you get 9 out of 10 wins, the losing one may be closed at a convinient point,

NO SL does not mean Don't close
  • #9
  • Jan 24, 2008 4:53am Jan 24, 2008 4:53am
madness!
Living the adventure in my head.
  • #10
  • Jan 24, 2008 4:56am Jan 24, 2008 4:56am
Quoting mohshr001
Hi

i dont understand, what about spread??
please give us an example!
yeah !!!
  • #11
  • Edited 6:02am Jan 24, 2008 5:53am | Edited 6:02am
Try it on a demo and you might just change your opinion


[sl] 231518692008.01.24 03:28sell limit0.30gbpusdm1.95400.00000.00002008.01.24 03:521.9536cancelled
231526362008.01.24 04:53 sell 0.01 gbpjpym 208.230.00 208.18 2008.01.24 05:08 208.18 0.000.000.000.05 [tp]
231526382008.01.24 04:53 buy 0.01 gbpjpym 208.360.00 208.41 2008.01.24 05:50208.410.000.000.000.05 [tp]
  • #12
  • Jan 24, 2008 6:11am Jan 24, 2008 6:11am
Quoting Leonlorenzo
madness!
With a method lol!
  • #13
  • Jan 24, 2008 11:40am Jan 24, 2008 11:40am
Right. Try it on a demo and see how it goes.
  • #14
  • Jan 24, 2008 11:41am Jan 24, 2008 11:41am
This will give you cash while a market is ranging, but once it begins to trend, it'll kill you within seconds to minutes. So, if you want to do something like this, at least give yourself a reason why you are entering, whether it's a break of a 50 or 00 level (which works well if entering with new candle opening above/below the level), or break of trendline, as is described in one of the methods on this forum, scalping with tl or something like that. Because if you have no reason and you enter, that's pure casino, better go to vegas and do it surrounded with drinks and women, and other rich losers
Trax Tibidax Tibidox...
  • #15
  • Jan 24, 2008 3:15pm Jan 24, 2008 3:15pm
This is a wonderful system, for anyone who trades against you . I'm down 230.00, in one day. Glad it's demo money.

Quoting opie999
Right. Try it on a demo and see how it goes.
  • #16
  • Jan 24, 2008 3:52pm Jan 24, 2008 3:52pm
Quoting shiva
L
Method
1) Open long & short with TP = 5, SL = 0 (zero, thats not a typo)
2) Wait for TP on both positions.

Assumptions
Given the way this pair (GBP/JPY) moves in both directions, I have presumed a small tp of 5 will always be possible.

Proof of the Pudding
I have no proof to show you at this time,
Please, do not trade this.

Risking the complete account(no stop loss) to get 5 pips is NOT a way to approach trading even remotely.
Trust price. Know yourself.
  • #17
  • Feb 6, 2008 6:53am Feb 6, 2008 6:53am
Hello ChesterB,
I'm Firdaus From Malaysia.
I need your help to code my indicator to become EA as soon as posibble.
I will pay for your services. Please send me an email to [email protected] so we can working together. Hope to hear from you soon.
Thank you.
  • #18
  • Apr 14, 2014 9:46am Apr 14, 2014 9:46am
Quoting BGazzoni
9 pips spread on IBFX and 5 TP, i think it won't work on long term. Besides one day it will not close one of the positions and when it happens what you'll do. I'm saying this because i already try something like this
I would love to hear about your observation man!
  • #19
  • Apr 14, 2014 9:47am Apr 14, 2014 9:47am
Quoting TEB63
???? TEB

???
  • #20
  • Apr 14, 2014 9:48am Apr 14, 2014 9:48am
Quoting shiva
{quote} With a method lol!
Lol! I agree...
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