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Thread: {req} daily simple Open

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    Default {req} daily simple Open

    Dear Funyoo..
    If You had a time..
    please create ea with this manual trading system

    DAILY TRADING METHOD:

    ENTRY
    1) Enter the Market at the open of the 08:00 candle on a 4 Hourly GBP/JPY Chart.
    2) Buy if the 4:00 Candle closed as a Blue Candle, and the MACD Histogran Bar is above the 0 Line and increasing in length.
    3) Buy if the 4:00 Candle closed as a Blue Candle and the MACD Histogram Bar is below the 0 Line and decreasing in length.
    4) Sell if the 4:00 Candle closed as a Red Candle, and the MACD Histogran Bar is below the 0 Line and increasing in length.
    5) Sell if the 4:00 Candle closed as a Red Candle, and the MACD Histogran Bar is above the 0 Line and decreasing in length.
    6) It is a NO TRADE if the 4:00 Candle closes as a Blue Candle and MACD Histogram Bar is below the 0 Line and increasing in length.
    7) It is a NO TRADE if the 4:00 Candle closes as a Blue Candle and MACD Histogram Bar is above the 0 Line and decreasing in length.
    8) It is a NO TRADE if the 4:00 Candle closes as a Red Candle and MACD Histogram Bar is above the 0 Line and increasing in length.
    9) It is a NO TRADE if the 4:00 Candle closes as a Red Candle and MACD Histogram Bar is below the 0 Line and increasing in length.

    EXIT:
    Our target is to get 100 pips or more. We therefore trade 2 Lots and we Exit when
    1) When we Achieve 100 pips Profit we exit one Lot.
    2) We stay in the Market with the other Lot looking for some additional Pips.

    We exit at the open of the next Candle if the next candle opens one pip less than our current candle if we are Long and one pip more than the current candle if we are Short.

    REVERSE:
    If we are SHORT and before we achieve our Profit Target of 100 pips and the Market starts retracing as shown in the chart below, we Reverse as soon as the market goes one pip above the open of the 4:00 Candle.

    If we are LONG and before we achieve our Profit Target of 100 pips and the Market starts retracing as shown in the chart below, we Reverse as soon as the market goes one pip below the open of the 4:00 Candle.

    Once you are in a Trade but the candle fails to reach your target of 100 pips and starts to Retrace, Calculate how many pips it went in your favour as soon as it starts to Retrace back. Take at least 50% of the Profits from your Retracement. An example is given in the chart below.

    Parameter EA.

    MM Lot
    Martingale System
    Trailing Pips
    Fractional Close Target
    Close % Lot After TP1 Reached = 50%
    TP 1 = 60
    TP 2 = 200

    GMT Switch
    Parameter Candle
    Candle 1 : 04:00
    Candle 2 : 08:00




    Thanks..
    Last edited by Trint; 02-10-2010 at 06:33.

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Tags for this Thread

100, 100 pips, candle, funyoo, gbp, macd, manual, manual trading, pips, profit, simple, time, trading

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