Advanced system #14 (Simple trading with Daily range)
Submitted by User on March 6, 2009 - 07:22.
Submitted by Stuart (BE)
This method is basically to do with what a pair moved like the previous 24 hour period.
In this, I will use the GBPJPY, but one could use it on any pair.
Method/Strategy:
You choose your own 24 hour period move - here as an example I will be using 21:00 to 21:00 GMT+1 (my local time).
Mark the High, Low and Close for selected 24 hours.
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Hi all,
Just to give you my results only trading the EURUSD since monday, also only trading in the direction of the Center of Gravity line:
Monday: BUY ORDER +30 pips (closed trade at 07:59 GMT manually, TP not hit)
Tuesday: BUY ORDER + 42 pips
Wednesday: BUY ORDER + 53 pips
Today: BUY ORDER, currently at +26 pips and target is 60 pips.
Kind regards,
Stuart
Hi all,
Updated spread sheet attached. Please download this one to replace existing.
25__MOVE_3.xls
Thanks,
Stuart
Hi all,
Results for 12/03/09:
EURUSD + 60 PIPS
GBPJPY + 80 PIPS
GBPUSD + 55 PIPS
EURGBP + 28 PIPS
GBPCHF + 72 PIPS (Both orders triggered and TPs met).
Total pips profit for the day = 295
Happy Trading to all,
Stuart
ps.) Edward, I would really value your thoughts on this method? :-)
Hi all,
Starting at the beginning of this week, Monday 09/03/09, trading only those pairs on my spread sheet, I have had only one minor loss of 30 pips with the GBPCHF on Tuesday, and a total profit of 992 pips for the week so far - we still have tomorrow to go?
Feel free to look back on your own charts to check my results? My 24 hour period is from 07:59 to 07:59 GMT.
Maybe this was a particularly good week?
Happy trading ... and may we all profit.
Stuart
hi,
thanks for sharing...
how to set SL..?
Hi Stuart,
I'm having difficulty opening the daily range zip file and have done a search but not being too computer literate am not sure if I need to download a facility to open it. Any thoughts would be appreciated.
Much appreciate the spread sheet - would have caught this mornings rise on gbd/usd and the TP was hit on the button.
Many thanks
Paul
Hi Stuart,
How did you discover this? Your Excel Sheet and the Template for getting out the HLC are wonderful. But in the Template I couldn't find the what you call centre of gravity. I live in Nigeria and believe this system will work well for cos my time is GMT+1
Thanks for sharing this.
John
Hi Stuart,
This looks good but the risk ratios are wrong. very often you have 1 to 2 instead of 2 to 1.
please advise.
Andy