I have been testing forex and systems for about 2 years. I am very dissappointed with the claims some of them make and the time involved to catch the forex moves. So dissappointed, that I haven't put in live money yet. I am however, confident that this system will work and also the daily range strategy by Mircado.
The following strategy is simple to learn and I have back tested it 3 years with about the same results. You will get about 250 to 300 pips a month on the average with the Pound/USD.
Here's how it goes:
1. Take a look at the most recent daily bar noting the highest and lowest price of the day.
2. Put in an entry order to buy at the top price and sell entry at the bottom price.
3. Set no limits, put your stop for a buy entry at the bottom price for the day. Set your entry for a sell at the bottom of the bar with the stop at the top price for the day.
4. Let's assume a buy gets entered on day 1, after the close of the next daily bar - day 2, note the lowest price for that day. Now go in and change your stop loss for your buy entry that was triggered the previous day. Also, cancell out your previous day's sell order and set a new sell entry based on the lowest price for the new daily bar with a stop at the top range for the day.
As you can see, you are always in the market with this. Take a look at a 3 month daily chart. You would have made a huge amount of money with the recent run in the Pound.
If trading a $20,000 account, I wouldn't put more than 5% down on this per trade. You could easily work this 20K account to 50K within one year. After that, double up the next year.
Sorry, I don't have a trade for trade account for this. You will just have to take my word for it. Manually test it if you want like I did.
I best discribe this as the 2 step forward - one step back program. Don't forget, you could start with the one step back. I would start my trades when the currency pair looks extended in one direction or the other. That way you are more likely to start out with some wins.
This is an easy and time efficient way to double your account every year, spend only 5 minutes at the computer and have a life other than forex.
*** This strategy was picked up out of a book that I bought about 5 years ago that the author was using for commodities ****
The following strategy is simple to learn and I have back tested it 3 years with about the same results. You will get about 250 to 300 pips a month on the average with the Pound/USD.
Here's how it goes:
1. Take a look at the most recent daily bar noting the highest and lowest price of the day.
2. Put in an entry order to buy at the top price and sell entry at the bottom price.
3. Set no limits, put your stop for a buy entry at the bottom price for the day. Set your entry for a sell at the bottom of the bar with the stop at the top price for the day.
4. Let's assume a buy gets entered on day 1, after the close of the next daily bar - day 2, note the lowest price for that day. Now go in and change your stop loss for your buy entry that was triggered the previous day. Also, cancell out your previous day's sell order and set a new sell entry based on the lowest price for the new daily bar with a stop at the top range for the day.
As you can see, you are always in the market with this. Take a look at a 3 month daily chart. You would have made a huge amount of money with the recent run in the Pound.
If trading a $20,000 account, I wouldn't put more than 5% down on this per trade. You could easily work this 20K account to 50K within one year. After that, double up the next year.
Sorry, I don't have a trade for trade account for this. You will just have to take my word for it. Manually test it if you want like I did.
I best discribe this as the 2 step forward - one step back program. Don't forget, you could start with the one step back. I would start my trades when the currency pair looks extended in one direction or the other. That way you are more likely to start out with some wins.
This is an easy and time efficient way to double your account every year, spend only 5 minutes at the computer and have a life other than forex.
*** This strategy was picked up out of a book that I bought about 5 years ago that the author was using for commodities ****
