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Thread: 1 trade a day

  1. #1

    Thumbs up 1 trade a day

    Took from FF.

    Quote Originally Posted by Paulus
    This is not my idea but ,it took my fancy as I wanted an indicator used on it but the principle is sound

    Take the hi low of the Asian session,I will include a indicator that does this automatically.

    As the next market to open is London we want to watch any GBP spots

    I have set this up on

    gbpusd
    gbpaud
    gbpjpy
    gbpcad
    gbpchf
    gbptry

    We set a buy 10 pips above the high and a sell 10 pips below the low

    Once triggered we stay in until 1 of 3 criteria is met

    Our Stop is hit
    Our Target is hit
    The close of the day without our SL or TP being hit.

    An example of 2 trades are shown below

    A few notes

    No indicators are used to asses trend OB OS etc etc
    This is 100% mechanical
    We trade just once a day per spot
    Can be used with an EA
    The red horizontal lines are automatically drawn
    Set up your fib tool with just 0.00,50%100% after the numerical figure in the properties add %$ after the figure to get the price on the fib lines
    If a long is triggered place your 0.00 on the low and move the tool to get the 50% line on the high.The 100% line will give you your TP the 0.00 line will give you your SL

    I managed to trade just 2 on the 6 GBP spots available to me as thats all I had set up for last week given my time and the fact Ive only started looking at this.This is a commercial product this is not my idea but I like the princple.

    If people want to use a different fib level for the tP or a different stop feel free.Lets throw all ideas into the pot but I dont want a clutter of indicators.

    Results for last week on my 2 spots

    GBPUSD +125+97+68+118-82 (+327)
    GBPAUD +143+4+116-145+114 ((+232)

    Update figures

    GBPJPY 169+108+143+89-108 = +401

    GBPCAD -113+89-89-87+100 = -120

    GBPCHF 100+81+77-143+134 = +249

    GBPTRY +125+146+136+230+139 = +776
    This could be good....
    Attached Files Attached Files
    Last edited by thesecret25; 05-12-2009 at 18:25.

  2. #2

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    gbptry? you mean turkish money?

  3. #3

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    I think yes, but spread is high onthat one, anyway U can attach it on pairs u are comfortable with....

    Yesterdays results:

    gbpusd +43
    gbpaud +145
    gbpjpy - no trigger
    gbpcad +87
    gbpchf +173

  4. #4
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    Default

    Quote Originally Posted by thesecret25 View Post
    I think yes, but spread is high onthat one, anyway U can attach it on pairs u are comfortable with....

    Yesterdays results:

    gbpusd +43
    gbpaud +145
    gbpjpy - no trigger
    gbpcad +87
    gbpchf +173
    Hi thesecret25,

    you wrote, the system is manual. Do you sitting for the PC and wait for the lines?
    Or exist an other way fot trading?

    Regards
    j_l

  5. #5

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    U set pending orders at the London open and u are done for that day.

  6. #6

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    Yep, but in my case London open is at 3am, best will be to make EA from it and then test it.

  7. #7

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    Thats why this thread exists...

  8. #8
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    Quote Originally Posted by thesecret25 View Post
    Thats why this thread exists...
    Hi thesecret 25,

    please can you share a picture of chart for show, who do you set the fibo?
    Thanks.

    j_l

  9. #9

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    I dont use Fibo, I set 20 trailing step...

  10. #10
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    Quote Originally Posted by thesecret25 View Post
    I dont use Fibo, I set 20 trailing step...
    o.k. my question was wrong.
    Can you explain, how do you set the pending orders ? And can you show this adjustment exemplary with a chart-picture?

    Best regards
    j_l

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