15 to 20 pips per day system
This system works on daily timeframe.
When a new candle stick for the day opens, put buy stop (35 pips add to open price) and sell stop (35 pips minus from open price)
You can use any indicator to to set ur SL and TP. But Following is a good strategy.
SL = 40 pips
TP = 20 pips
does it really work. I mean have u tested it urself? I think it is better to set ur tp and sl using some indicator. At this time ur risk is double to ur reward which will not work in long run.
Stick to your rules
Wow. pretty simple.
It looks like Price Action strategy coz no indicator is involved unless u involve it in TP and SL.
How abt if we test it on lower timeframe i.e 4 hr. Have u done it ever?
Originally posted by SashaWow. pretty simple.
It looks like Price Action strategy coz no indicator is involved unless u involve it in TP and SL.
How abt if we test it on lower timeframe i.e 4 hr. Have u done it ever?
No, with 4 hour time frame it is hard to get that many pips and u might loose. The best timeframe for this strategy is 1 day.
Thx for sharing. This is pretty simple strategy and I think EA can easily be made using this strategy. Even someone who is not developer can use some free online tools to build this EA.
The good or ill of a man lies within his own will. – Epictetus
Originally posted by ironicalThx for sharing. This is pretty simple strategy and I think EA can easily be made using this strategy. Even someone who is not developer can use some free online tools to build this EA.
You r welcome.
Yes it is simple but EA is not developed coz there is no fixed TP or SL. 20pip TP and 40pip SL is just an estimate. But u can make it a lot better by using some technical indicator.
Does it mean, just one trade per day with this system?? It will never average 15 to 20 pips coz it cannot be 100% successful. Even if 66.66% trades r successful, this system will be making no profit no loss (if TP is 20 and SL is 40).
The base maybe good but TP and SL strategy is big flaw.
Originally posted by ChampDoes it mean, just one trade per day with this system?? It will never average 15 to 20 pips coz it cannot be 100% successful. Even if 66.66% trades r successful, this system will be making no profit no loss (if TP is 20 and SL is 40).
The base maybe good but TP and SL strategy is big flaw.
hmm yea gud point. I dun think this system will have high winning rate coz it looks too simple.
Assuming 20 trades per month, if we r winning 70% trades and loosing 30% with TP 0 and SL 40, we will be making 40 pips per month.
Do u think we can acheive 70% winning rate with this system?