20 pips system - page 22
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Dear Newdigital
A few question to u.
1. When u said GMT morning, r u refering to GMT - or GMT +?
2. To be exact, on which market did u refer to? ( London/U.S/Tokyo or others )
3. If I am using FXDD platform, do u know at what time its open their trade market? ( at what time should I attached the EA )
4. From previous posted msg, u said u r 6pm GMT. Is it GMT+6??
Correct if I`m wrong.
if we use this EA when london market open. The pobability to get 20pips with GBP currency will high, rite? same goes to U.S/JPY market.
regardsThe settings were published in this thread. Look at few posts above for the links. If you are asking about EA of course.
If you are asking about my manual trades using original indicator so I don't remember exactly as it was long time ago but it was in the morning (in GMT morning I attached indicator to the chart. It was GMT+2 morning. 9 or 10 am GMT+2.
thanks newdigital,
I have tried using it last 2 days. Starting on Thursday. The result is good. Even before this, i had trade using pending orders just to play safe.
I try to put the pending orders after the time u mentioned on ealier post to avoid to many trade running together. Out of 15 trade, 3 opened and closed in profit. Its maybe not much but to me it is profitable system with minimum losses.
Thanks again for ur effort introducing the EA.
karmizi: hello!--rswamy4449
this system is quite similar with this one below.
Trading setup:
Time frame: 1 hour.
Currency pair: preferred but not limited to EUR/USD and GBP/USD.
This Forex breakout system uses no indicators.
Trading rules:
The system is called "early bird" because it requires a trader being ready to trade Forex as early as 5:00 am EST.
Find the Highest High and the Lowest Low for the candles from 00:00 EST to 4:59 am EST. (We should have 5 candles for each hour: 0, 1, 2, 3 and 4).
At 5:00 am EST set 2 entry orders: buy order - above the highest high +5 pips, sell order - below the lowest low and -5 pips.
Set initial profit target to +90 pips for EUR/USD and +140 pips for GBP/USD - both targets are way too high if to consider that daily range average for EUR/USD is only 110-120 pips and daily range average for GBP/USD is 180-200 pips.
If those targets get hit - very good! However, our profits will be determined mainly by the time factor instead of a fixed amount of pips.
So, we close all open positions at 12:59 EST (1:00 pm EST) and cancel all remaining orders. The next trading opportunity - only next day at 5:00 am EST.
Setting Stop Loss orders:
Stop loss for Buy order should be placed below the found earlier lowest low -3 pips, for Sell order - above the highest high +3 pips. If a stop loss is hit most likely traders will see an opposite position open. Stop loss should never be moved.
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karmizi: Hello!
Could you please post your system template here, please!
It's very interesting to me.
I would like to test it!
Thank you inadvance!
Sincerely,
rswamy4449
-----------------------------------------------
karmizi: Hello!
Could you please post your system template here, please!
It's very interesting to me.
I would like to test it!
Thank you inadvance!
Sincerely,
rswamy4449rswamy4449,
I do not have any template for trading. My trading system style is based on basic pivot and fibo calculation. So the calculation will indicate a few suggestion trade and i using pending orders to excute the trades. Mostly, i need to wait for the market to be close to make calculation and this EA suit my trading style.
I do not rely 100% on custom indicator except with standard indicator with optimal setting suggested by others. Some of it as u know r good enough to follow. From my last post with picture attached are from http://forex-strategies-revelaled.com. It is a good website for a newbie like me.
I hope u understand with my explaination.
karmizi, hello again!--rswamy4449
rswamy4449,
I do not have any template for trading. My trading system style is based on basic pivot and fibo calculation. So the calculation will indicate a few suggestion trade and i using pending orders to excute the trades. Mostly, i need to wait for the market to be close to make calculation and this EA suit my trading style.
I do not rely 100% on custom indicator except with standard indicator with optimal setting suggested by others. Some of it as u know r good enough to follow. From my last post with picture attached are from http://forex-strategies-revelaled.com. It is a good website for a newbie like me.
I hope u understand with my explaination.---------------------------------------------------------
karmizi: Hello!
Thank yo for your prompt message!
When I mentioned you about template, it's not excatly template, I refered to. Sorry, I was unable to explain you clearly. I just wanted to know, on the chart, how you highlighted the last 5 candle areas and candle colors in the box.
Thank you again!
Sincerely,
rswamy4449
rswamy4449
Both 5 highlighted candle for long and short orders are identified from 0000 to 0459 EST.
newdigital
do you know of any indicator which is automatic which can make 10-20 pips per day i will be happy with it.
newdigital do you know of any indicator which is automatic which can make 10-20 pips per day i will be happy with it.
There is indicator in the beginning of this thread. I traded manually using this indicators with good results. You may see the statements on the thread somewhere. It is not a difficult to do: just 10 minutes a day only. But to have reasonable stop loss value it is necessary to have some other indicators to estimate the direction of the trend for the current day in the morning for example.
I will try to make some trades once again. Trading this system manually is more good as we may use some technical analysis to decide about placing pending orders for today or not. I did it with Ichimoku indicator on D1.
Please find forward statement for this EA since April this year.
EA with the settings was posted on this thread.
Is this the same as the daily 20 pip system, known to be related to the well known big bn strategy?
Thanks
Yanni
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