Forex trading strategy #15 (10 pips a Day)

hi guys,

im new to trading and i thought id try steves system above. Daily chart, wait for opening hour of london market and set a buy order 30 pips above open price and sell order 30 pips below.. my s/l i set to 100 and my t/p i set to 10.it was my first trade and i won it and i'll continue for a few weeks see how i go..something strange happened during this trade and i hope someone can explain whay it happened. i was losing the trade and then out of nowhere the candlestick shot up from 1.74 65 to 1.75 05..it was the longest candlestick i have ever seen!!why did it shoot up like that? and so fast?i won the trade so i was happy...

thanks steve

For daily charts you can do backtesting and even forward testing manually.
I don't have the data you're looking for, I'm really sorry.
One needs to learn MQL4 code to be able to backtest strategies automatically, I'm not an expert in this field either. I'm sorry.

Regards,
Edward

I need to know how many losses were for USD/JPY and EUR/JPY within past six months.
Please help me to do backtesting. Please post the results.

Please help me .

Thank you.

Where exactly have you stuck?

Hi. I am having trouble to backtest EUR/JPY and USD/JPY 1 year back.
Can somebody help me please ?

Please send me an email to forexpps[at]yahoo.com.

Thank you.

Risk Reward my friend. You wont last long with this one. Keep your day job my man.

Vorrei che qualcuno mi spiegasse la strategia.
Io non l'ho capita, è possibile? Grazie.

Trader Di Carlo Dario

hello,

Thanks Stuart.

God bless u.

Hello Friends,

i have been away from the net for a while now.

please take the update of my strategy

no take profit; trail your profit

no stop loss if u want to use make it 100

any one can contribute on how to make the system perfect please, i need ur ideas

Thanks

Hello Steve,
I was wondering which pairs you are trading? I have tried it on the GBP/JPY and it's working well.
Thanks,
Kevin

Hi Steve,

Thank you for sharing this simple strategy. I tried on real account last week and so for i'm on the winning side. 10pip minimum for 1 lot for 1st try, 2 lot for 2nd try. Do you think this strategy also applicable during open our of london and us.(I'm Sabah).

Robert.

Steve,
what kind of results have you been seeing on average using this strategy?
thanks,
Nick

hello Steve, thank you for sharing your strategy with us. i would wish to know how many times did your stop at 50pips get hit and if your money management of 5:1 loss to profit ratio is working well or if there is a way to reduce the stop loss and increase the profit limit so the ratio can be less risky and also which currency pairs are the most consistent with this strategy? thanks again for your contribution, i am a trader from Kenya.

Gilbert

Just out of curiosity, Say if my chart are using GMT +0, does that mean my daily candle starts at GMT+0 00:00? how about those person with new york time chart and etc?

So what is a start of a new candle?

Dear Steve..First of all thank you for your strategy..when ı read this ı interested and begin to research for it.ı download the day graph history,print it and begin to calculate the numbers of your strategy from 2008.11.20 until 2009.04.13..it means it is clear 100 days (approximately 6 months) and ı think it is good to take an idea for your strategy..and here are the results;
In 100 days,just 3 times for buy and for sell position at the same day,there is a profit.this is important.so ı add them to profit part.
Total win: 71
Total Loss: 4
Non Trade day:28 day
Total seems 103 day but it is not.As ı say above,3 times there is a buy and sell profit at the same day..So that in fact 68 daythis system opens position and it makes %72 times it opens position..

So the numbers of profits makes 71*10=710 pips
Losses makes 4 *50=200 pips ...510 pips net profit

Average profit 510/100=5.1 let's make 5 pips a day.. İt means not 10 pips..But the real problem is it is hard to calculate the pullout levels for the buy positions and impulsive for the sell positions..Because of those informations we could make the best s/l level and İf there would be an ea for this ı think we can make a good optimization for it..Anyway,as a result that system is not bad but must be develope..thaks Steve..

P.S: İf anybody wants to see my workpapers ı can send him/her if he/she drops a mail line..

Good Luck everybody..