Trading in midnight
This system doesnt have any logic except that past results are good. I have read it on another website and feedbacks were positive. Moreover it uses very less risk.
Rules:-
On a 15-min candlestick chart, at 00:00GMT, when candle closes, put a buy order 40 pips above canlde close and sell order 40 pips below candle close.
TP = 25 pips
SL = 20 pips.
There are many questions. But as u said in the start that the system doesnt have any logic so I think most of the questions are answered.
Is there any specific pair for this strategy?
Stick to your rules
I have very important question
Why only in midnight and not any other time? Why not at the start of a volatile session for example London or newyork session when volatility will be very high and there is higher chance of 20 to 30 pip trendy movement.
thx for sharing.
40 pip is a big move actually. When we look at 15 mint chart, of highly volatile pairs, they hardly move 20 pips in 15 minutes. In my opinion a TP of around 20 pip would be a realistic target.
The good or ill of a man lies within his own will. – Epictetus
Originally posted by ironicalthx for sharing.
40 pip is a big move actually. When we look at 15 mint chart, of highly volatile pairs, they hardly move 20 pips in 15 minutes. In my opinion a TP of around 20 pip would be a realistic target.
Another good point. But I dun think purpose of this strategy is to target next candle. It may be to target trend after the first 15 minute candle. 40 pip target may be acheived in next 1 hour or 2 hours.
It is my view. Champ can explain it better.![[aww]](/themes/default/images/smiles/aww.png)
Thx for sharing.
I have read many similar systems which suggest trading on different trading sessions. But I dun think these systems can generate profit for long term. Usually these systems are written after 1 or 2 month success.
Originally posted by uniquetraderThere are many questions. But as u said in the start that the system doesnt have any logic so I think most of the questions are answered.
Is there any specific pair for this strategy?
It seems to work well with eur/usd.
Originally posted by SashaThx for sharing.
I have read many similar systems which suggest trading on different trading sessions. But I dun think these systems can generate profit for long term. Usually these systems are written after 1 or 2 month success.
Author of this system claims that he is using it for more than 1 year now. I think best way is to test urself.
Originally posted by ChampAuthor of this system claims that he is using it for more than 1 year now. I think best way is to test urself.
Well.. If this system has more than 1 year successful history then it is worth testing. But has he shared his statement with us?
Well, i think that if you want to trade in the midnight then you should use the money management and scalp only then, because the market will most likely move with the wave form movement. Maybe earning 5 pips to 10 pips ios good enough.
Originally posted by sekiryuteiWell, i think that if you want to trade in the midnight then you should use the money management and scalp only then, because the market will most likely move with the wave form movement. Maybe earning 5 pips to 10 pips ios good enough.
Exactly. It is not possible to gain many pips. That was my point where I said that even in volatile times it is hard to gain 40 pips in short time. For this strategy to be successful, pair must move at least 65 pip in one direction which is highly unlikely.
The good or ill of a man lies within his own will. – Epictetus
Yes it is very rare to gain 40 pips in short time but I dun think this system has any "time" expiry. Even I do not understand the logic as I said when posting this system but still it has produced good results as said by author and the people who wrote comments. I read it a long time ago but I still remember that most people gave positive comments after testing this system.