This strategy looks to be based on historical pattern of trading. But it may not be for all pairs. On which pairs have u used this strategy and for how much time?

Originally posted by Sasha

This system is especially for beginners. Beginners always complain that market moves opposite of what they think. So why not do something to overcome this problem. 

Make sure to set ur time of chart to GMT. Use this strategy on volatile pairs. 

Strategy

Wait for the end of day candle to close. After it is closed and candle for new day has started blace buy stop 25 pips above market price and sell stop 25 pips below market price. 

TP

15 pips

SL

40 pips.

So TP can be anywhere between 10 to 15 pips. Just 10 to 15 pips per day? Moreover it is not for sure a winning always. It means 1 loss will be equal to 3 winnings. With very high percentage of winning, it may average 7 yo 8 pips a day. 

Isnt it risky? And why just one trade as ironical said? Why not use this strategy on 4 hour time frame and make more trades per day?

Isnt it better to try the same strategy at the opening of either Newyork or london session? or best would be to try it during overlap hours of these two markets. I dun understand the logic behind opening day.

Originally posted by Champ

Isnt it better to try the same strategy at the opening of either Newyork or london session? or best would be to try it during overlap hours of these two markets. I dun understand the logic behind opening day.

I am also of the view that if this method has any success rate, it will be better during volatile session and trendy market.

Originally posted by illiterate

Isnt it risky? And why just one trade as ironical said? Why not use this strategy on 4 hour time frame and make more trades per day?

If this strategy gives 15 pips 90% of the times, I think it will be a good addition to our daily trading. We can use other systems with this if it has good success rate. But the thing is, we r relying on nothing but expecting a clear trend after a specific point is reached where our order triggers.

Originally posted by Jogi

If this strategy gives 15 pips 90% of the times, I think it will be a good addition to our daily trading. We can use other systems with this if it has good success rate. But the thing is, we r relying on nothing but expecting a clear trend after a specific point is reached where our order triggers.

But is it possible for such strategy where I cant seem any logic except that it will only be successful if market is trendy in the start.

Making 10-15 pips is not exactly tough, but to do it consistently is tough and that’s what we have to be extremely watchful. I go with OctaFX broker who help me in achieving this which is to do with low spreads, fast execution and then there is even mighty rebate scheme where I get 50% back on all trades even if it’s lost, so that really helps me enhance working and provides me comfort along with complete security as well.