[sadscorpion]

One of my Strategy .......Need comments to improve it together...

Basic Ground Rules Before any trade(3 rules must be followed)

rule#1:-
try to trade only during the londan and us session.

rule#2:-
make sure to watch a news calinder and stay away from trading before and after
news release.

rule#3:-
enter only on a clear strong trend.
a)indentify a current trend (remember-the trend is your frind.)
b)Ignore all signals against a current trend.


timeframe:- 5min and 15min to enter a trade and 1hour and 4hour to identify a trend.
pairs:- EU and GU (INCREASE ONE PAIR AFTER 50% GAIN IN CAPITAL).
========================= ========================= ==========
BASIC ENTRY RULES
lets Suppose one pair thats going strong down trend. (suppose= eurusd)
its last day open was 1.4500 after open it goes 60 pips high then 200 pips down.
keep in mind
(eurusd normal averge daily move is 90 to 180
hight impect news days 150 to 250
and 300 to 500pips after some weaks or month.)
next day it open 140 pips down from the previous day open.
after open it move up and down 50 pips in asian market or even more but when uk market
open it is 30 pips away from its open and we get a sell signal in the direction of strong trend
as i mention in above for
tp1=40 - 70 pips in down side. sl is also same.
(keep in mind that our entry is on the 5min and 15 min candle conformation and that is our entry points.)
we open a trade to get 15 pips that equal to 0.5% of our account equity.
if it goes postive then we get o.5% gain in our account.

if we get 15 pips that gud otherwise if goes aganst us then after
25 pips we open another with same tp.
if goes positive then we get total 45pips. (appr=1.5 gain in our equity)
from thr we again enter if our sl is previous day high or low is not hit point 2 above is allowing to enter
again in same point.
like this wise we trade as averaging on this manner.

1) enter for 15 pips. (0.5% at every tp hit)
2) after 25 pips against we enter again with same tp. (1.5% at every tp hit)
3) after 25 pips against we enter again with same tp. (3.6% at every tp hit)

4) after 25 pips against we enter to get out at average price. (0% gain)
5) after 25 pips against we enter to get out at average price. (0% gain)
6) double the postion at 25pips of first entry and out at average price. (0% gain)


++>> dont trade on before and after main news at least one hour before and after.
++>> dont trade if a pair moves 80 pips from open price.
++>> dont trade if u get 3% mean 6 trades in row in a pair.
++>> dont trade at possible retracement levesls points
++>> entry should be with 5min or 15min chart candlestck formation.

+>>> IF We follow the any other system that make 70% correct tp hit signals.
in simple rules
if we trade then out of ten we get 7 trades postive may be more or less.
7 out of 10.
7*60= 420
3*40= 120
but here if we get all the trades on time and enter on time but if we dont get in time and our
bad luck then our gain will be very low or may be in negative.

++>>>but if we trade like this then we get
in one pair we get 7 postive mean we can get (keep in mind tp is 15)
4 tredes in rows and in more volitile satuation even more than it.
if we get average 5 mean 5*15*7=525
and in some trades we get 2nd tp hit let suppose 3 trades.
we get average 3*45*7=945
in some cases we get 3rd tp hit let suppose one trade.
110*1*7=1540

in two cases we get 5 trades at breakeven average.
5*0*7=0

one trade out of that at loss is 550pips loss
loss
1*==150+125+100+75+50+50= 550
total positive
3010-550=2460pips

+++++++++++++++++++++++++ +
what u says traders this is good strategy or not plz share your ideas to make this system more improved.

[stockprofessor]

I read & appreciated this post & it's useful.

[henryduncan12]

Your rule 2 and rule 3 is good but I think, there is some problem with rule 1. As most of the traders prefer their local time as well as day trade. So, they will not follow rule 1.

[RealDemo]

Have you tested this in any way, forward or backward?

Avoiding all news will have you sitting on the bench quite a lot especially during those two sessions. I tend to view news as market petrol. The market needs it to get where it's going, without it, like today for example, we end up going nowhere.

[Obsidian]

Originally Posted by henryduncan12 »

Your rule 2 and rule 3 is good but I think, there is some problem with rule 1. As most of the traders prefer their local time as well as day trade. So, they will not follow rule 1.

I moved to Asia so that I can be ready when London opens

[JSChicago]

Originally Posted by henryduncan12 »

Your rule 2 and rule 3 is good but I think, there is some problem with rule 1. As most of the traders prefer their local time as well as day trade. So, they will not follow rule 1.

Tell me about it. I have my alarm clock set to 1:30 AM (London opens 2:00 AM my time). But, while I would prefer to work normal (local) hours, I find that the London session and the London/US overlap provide the best opportunities to catch substantial EUR/USD moves.

My dream is to move to Dublin so that I can give up my 'vampire hours', drink good beer, and chase redheads.

[ratmpower]

Looks good on paper, but you never know how it turns out in practice. I suggest you test your strategy first with Virtual Stock Trading Site like http://www.strategyard.com/.
You can refine your strategy as you test them, or fork a new strategy from existing one by changing some parameters.