Advanced system #1-b (Midnight Trading + never give up)
Submitted by User on May 17, 2011 - 07:55.
Submitted by Winston Nilforoosh
Please note that this system will go call margin on day so please be careful.
I was studying the midnight strategy from Edward..When I was thinking just for fun to never give up.. And I found out that I would be profitable all the time which was really unbelievable..because I don’t believe in the holy grail..but I thought to myself this cant be possible..I was looking and looking to find a point where the system would call my account. It was really a long search ..i even got confident in the system and started to trade the system live.
I found the candle which would turn down your account EURO AUD 14 April 2003. It would just blow your account. I immediately stopped trading the system .. because you never know the next trade could be your end. The system is really good thought It gave me and will give around 5% per months profit if you open it with 0.01 lot in an 10k account and trade all pairs.
Now some of your would say why is he posting this ..well I have read some really great trading ideas on the development section some from dachel and others but it seems that nobody is following up on them.
What I would like to have for this system is someone who could maybe code it ..because its really hard to blackest it by hand.
My point is .. Is that I believe that we should separate the gambling part from the trading part that’s why I immediately stopped trading it because I don’t know what will be the next trade even if it happens so rare it can and will happen again.
BUT WHY WE DON’T SAY OK .. I KNOW THIS IS GOING TO HAPPEN SO I HAVE LETS SAY 10K AND I WILL RISK 1K BUT THIS TIME I WILL TAKE NOT 0.01 NO I WILL TAKE 0.05 ON EACH TRADE OR EVEN 0.1 WITH THIS I WILL MAKE 50% IN A MONTHS OK OF COURSE NOW THE WE NEED RESULTS WITH A EA TO FIND OUT HOW OFTEN WILL IT HAPPEN .. HOW MUCH CAN WE INCREASE THE SIZE AND AND AND…maybe not all pairs maybe some are better maybe only one and and and...
I MEAN ITS LIKE MONEYMANAGMENT WITH A NORMAL SYSTEM WHERE YOU RISK 100 DOLLARS TO GET 200 DOLLARS . AND YOUR ACCOUNT IS 10K…HERE YOU WOULD SAY OK I HAVE 10.000 DOLLARS AND I PUT THE 1000 or 100 ON AN NONOO ACCOUNT OR MICRO AND MY STOP LOSS IS THE 1000 DOLLARS..I DON’T KNOW IF ANYBODY CAN FOLLOW ME AND I AM SORRY THAT I HAVE WRITTEN SO MUCH SINCE I HATE IT MYSELF WHEN I READ A SYSTEM WHERE PEOPLE HAVE WRITTEN TO MUCH.
Pair = Any
Indicators = NONE. USE INSIDE BAR.
1. WE WAIT FOR THE DAILY CLOSE…
2. AND WE WAIT FOR AN INSIDE BAR…
3. WE PLACE A BUYSTOP AND SELLSTOP ON THE HIGH AND BOTH 0.0 1LOT (on a 10k account)
4. WE PLACE THE STOPS ON THE OPPOSTIE ORDERS FOR THE OREDERS
5. Profit targets for both positions are the risk we have taken
NOW IF ONE ORDER GETS TRIGGERD WE SAY THE BUY ORDER.. WE IMMIDIATILY CHANGE THE OPPOSITE ORDERAT AT THE LOW FROM 0.01 to 0.02 )
Here are the different cases at what could happen.
1. Our buy position hits our profit target which is the length of the inside it’s the risk we take on the trade If our t.p. is hit we close the opposite sell stop immediately and call it a profitable day.
2. Our buy goes against us and our stop and reverse gets triggered this time with 0.02 lots ..at that moment we put again a buy stop this time with 0.04 lots at the high of the inside bar and add to the T.P. one time the spread we have lost ..…
3. This scenario will repeat its self till the t.p. will get hit…
Please note that you take the highs and lows of the inside bar..i have never tried it with the highs and lows of the Bar which covers the inside bar…but if we would have an EA results would be easy.
SO WHAT I AM LOOKING FOR…
1. CAN SOMEBODY CODE THE STRATEGY ?
2. Does anybody have any idea on money managment when using this system or similar systems
3. I am currently back testing the simple 5x5 system and I would be happy if we can create a group maybe with the help of Edward where we can share to backtest strategys together this would save a lot of time. You can contact me via email email@example.com
Again I want to thanks Edward for his great site.. god bless you and your family you are helping a lot of people …
Also this is just an idea and again I am saying this again ..
Please note that this system will go call margin on day so please be careful