Forex trading strategy #18 (20 pips with GBPUSD after midnight)
Submitted by User on May 8, 2009 - 11:01.
Submitted by Rich
I've just started trading a strategy which is based on the close of the first 15 minute bar after midnight GMT on GBPUSD.
1.) Take the closing price of the first 15 minute bar after midnight GMT on GBPUSD
2.) Place a buy order 50 points above the close and a sell order 50 points below the close
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2011 - huge losses for EURUSD and also for GBPUSD
hi
i'm just new to forex. (please dont laugh)when you say place sell order, is it a sell or a sell stop order (please also tell the difference between two.
Has anyone tried this lately. Looking back the past few weeks, it appears to still have enough winners on a monthly basis to still be profitable.
I have been testing this system live and so far my results are consistent with the 74 pip/month average
I have tested this for a month of daily trades and I got results consistent with Rich's long backtest
what do u mean when u say 50 point? does it imply 5pips or 50pips?
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