Advanced system #14 (Simple trading with Daily range)

Hi, there!
this is great winning strategy. I have test it
so far the result was great

I follow the original strategy but the problem is risk/reward ratio make me nervous.
anyone can help with that? please???

thank's

Although the risk/reward ratio is not great, the best way is to reduce your risk. I suggest the following:

Dont risk all of your balance (I close the opposite buy/sell trade for each currency once the other is triggered, so only half my balance is ever risked as a maximum).

Spread your risk by trading as many currencies as possible (5 or 6 is usually practical).

Spread your risk by trading as often as possible with a lower balance (I trade twice a day 7am-7am and 9pm-9pm GMT, so I can reduce the amount I risk for each 'session' by half). So in summary I have spread my risk over 12 possible outcomes rather than just blowing it on one currency trade.

It is all about spreading your risk - there WILL be losses, and days when you are down,but you are hoping to win at least 70% of the time, so approx 5% per day ON AVERAGE. I have traded over 100 times now and my cumulative profit is definitely trending upwards (with a few downward bumps along the way), with a new high each week. It is all about LONG TERM not daily or weekly.

I have been watching this strategy from the beginning and have found it intriguing. One of the few that does actually seem to work. However,it seems Stuart has moved on as he hasn't posted for some time. Possibly because it no longer seems to be the same system any more.

Personally, I think the idea is brilliant.

In my testing, using the original system, I have not had a losing week. Admittedly, my approach has not been totally scientific, but never the less, pretty impressive results.

As I am in Australia I set my time period from 9:00am to about 5:00pm AEST. Never the full 24 hours. [Eight hours seems to be enough.] That, and cancelling the other side of a trade when one side is triggered, are the only differences I think. I trade about six pairs at a time. And they can vary, depending on my whim at the time.

The following indicator is very useful in calculating the pips range of yesterdays bar. Or any bar for that matter. I can't remember where I got it from, but I had been looking for some time. Thanks to Zen Leow. Great job.

Hello,
Please tell me what is the best time for this strategy. When market opens at sydney or i can use it at london open??

Hello,

I am calculating daily pips range according to US session closing and put my orders at sydney opening is it okay. or can i use the opening of london session by calculating the last 24 hours pips range.

I dont use mt4 platform i am using FXCM trading station it doesn't has gravity indicator so can somebody tell me which indicator i can use in term of gravity lines.

Regards,

faisal

Hello,

I am questioning a lot but i need to........
I have read some starting pages about this strategy and i found many spread sheet to calculate the entry level's please tell me which sheet is final form and i should use...
Also tell me in the final spread sheet ADR value needs to enter manually, how to calculate it should i use any indicator for ADR or i should calculate it with simple RANGE formula? or for previous day range only or for last 10 days range?

Regards,

faisal

Thank you, Zen, for a useful summary and a feedback!

Faisal, you can use either one - London opening is good, US is OK too. Placing orders later at Sydney session might also work, all-in-all we should hold onto the idea and develop/improve from there.
Regarding the Gravity indicator, it is a custom tool, therefore you would need to download it and add to your MT4 platform.

The last revised sheet: LATEST_25_MOVE_1_rev.xls

No need to enter ADR. But if you need this data, you can use the following indicator:
Average_Daily_Range_1.mq4

Best regards,
Edward

Hi everyone,

Best regards,
Edward