Friday, 12 June 2009
Simple Trading Method with trader101 for Profit
Im been playing this method for about 3 months now and the return is quite good. This is a very simple method and it is all base on price action, indicator free trading and it is done manually.
First you have to open a demo account and make sure that the broker you choose have the ff. pairs (must have) in their platform:
1. GBPUSD
2. EURGBP
3. GBPCHF
4. CHFJPY
5. AUDJPY
6. EURJPY
7. USDCHF
8. CADJPY
9. AUDUSD
10. USDJPY
11. EURUSD
12. EURCHF
13. GBPJPY
14 USDCAD
The top seven pairs is set 1 and the bottom is set 2. These pairs will hedge each other. Fresh start this method at the very beginning of the week, this will give you a good look at the pairs as weeks goes on. Set 1 trade them SHORT and set 2 trade them LONG. No SL and no TP. As much as possible run a script (attached) so as to maintain correct timing in opening them. Click twice the profit column of your terminal so as to make the positive profit pairs stay at the top and the negatives stay at the bottom or vice versa. Initially the order of this pairs is a mess, let it run for a day or two and you will notice the pairs will start to make a proper order. All the buys will stay at the bottom and all the sells will occupy the top or vice versa. It like putting to rest the dirty bottled water and it will start to settle down after a certain period and all the dirt to the bottom and the clearer water at the top.
About a day or two, all the buys (if negatives) will stay below and the sell (if positives) will be at the top. Now the indication that you should watch is, ideally the bottom 7 slots should be occupied by the negatives, the first pair in the negative that crosses the boundary of positive and negatives is the pairs we are concern. If one of the negative jump to slot 8 (counting from bottom) there is also a corresponding positive that will jump to slot 7. This is the signal. We will trade those two pairs that jump out of boundary.
First you have to open a demo account and make sure that the broker you choose have the ff. pairs (must have) in their platform:
1. GBPUSD
2. EURGBP
3. GBPCHF
4. CHFJPY
5. AUDJPY
6. EURJPY
7. USDCHF
8. CADJPY
9. AUDUSD
10. USDJPY
11. EURUSD
12. EURCHF
13. GBPJPY
14 USDCAD
The top seven pairs is set 1 and the bottom is set 2. These pairs will hedge each other. Fresh start this method at the very beginning of the week, this will give you a good look at the pairs as weeks goes on. Set 1 trade them SHORT and set 2 trade them LONG. No SL and no TP. As much as possible run a script (attached) so as to maintain correct timing in opening them. Click twice the profit column of your terminal so as to make the positive profit pairs stay at the top and the negatives stay at the bottom or vice versa. Initially the order of this pairs is a mess, let it run for a day or two and you will notice the pairs will start to make a proper order. All the buys will stay at the bottom and all the sells will occupy the top or vice versa. It like putting to rest the dirty bottled water and it will start to settle down after a certain period and all the dirt to the bottom and the clearer water at the top.
About a day or two, all the buys (if negatives) will stay below and the sell (if positives) will be at the top. Now the indication that you should watch is, ideally the bottom 7 slots should be occupied by the negatives, the first pair in the negative that crosses the boundary of positive and negatives is the pairs we are concern. If one of the negative jump to slot 8 (counting from bottom) there is also a corresponding positive that will jump to slot 7. This is the signal. We will trade those two pairs that jump out of boundary.
You should have another account where you real trading will be executed. You will trade the two pairs that jump out. If the pair that jump up is Long then trade the two breakaway pairs LONG or vice versa. I also trade the next two pairs that jump of the boundary. I limit myself to just 4 pairs being traded at one time. The profit is up to you, what I do is when the pair i'm trading retreats 2 slots then I close it.
Remember do not touch your demo account as this will serve as your indicator and keep it running all the time and just check it once in while for any jumper pair and then trade them.
On the attached terminal copy, you can see the breakaway pair USDCAD that was a few hours ago and i traded it and make some pips on it. Consequently the other pair GBPUSD also jump 1 slot down and can also be trade Long as well.
Note:
I assume that you come to this thread not expecting a handout rather to polish your trading skills. Assume that your newbie questions will be ignore by myself, hope that someone will have the patient to teach you to use MT4 & trading. On another note, though your contribution is welcome, i do not require it, this system is complete anything not here is not needed. Also you should have a thick skin because my level of tolerance is low.
I hope i explain it well. Good Luck trading,
Trader101
Note:
1) this method is manual.. again manual.. Indicator is fine but the trading is manual. If some of you do not like doing it manual you are free to go.
2) i dont want to see any EA being made out of this system and posted here for showing-off. Indicators are welcome.
3) No mt4 operational questions ex. "where am i going to put the script file?, How do i install this on the chart, or Im a newbie but i like your system please recapitulate the system." Also if you dont understand English dont ask me to translate if for you.
4) Someday somebody will make an FAQ of this sytem. I need volunteer. for that.
5) Lastly, website owner/web administot, forex system stealers, programmer for hire, if your agenda is to steal or herd traffic tell me now in PM so i can charge you, programmers for hire, i cant prevent you. Just make sure to give me a credit on this one on your program and you have to give us a commission for stealing ideas here.
I hope we agree on this one then we can always continue.
To those who will benefit from this method, my only request is to GIVE CREDIT TO WHERE CREDIT IS DUE this is given unselfishly free. Trader101 – Julius F.
Attached Thumbnails
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Friday, 15 August 2008
DAILY BREAKOUT TRADING SYSTEM FOR GBP/USD PAIR
Make yourself a little excel sheet or grab a pen and paper and start tracking the high and lows of each day. Then deduct the high of today from yesterday's high and the low of today from yesterday's low.
After you have a few day's worth of data you can get an average. On the excel sheet, below the first five columns are the date, open, high, low and close. "
DR" is daily range, "TH-YH" is today's high minus yesterday's high and "YL-TL" is yesterday's low minus today's low. In the "TH-YH" column, I only record an entry if today's high is greater than yesterday's high and in the "YL-TL" I
Unless today's bar turns out to be an inside day or very rarely the high and low of today are exactly the same as the high and low as yesterday, then we will have a new high or low.
DR" is daily range, "TH-YH" is today's high minus yesterday's high and "YL-TL" is yesterday's low minus today's low. In the "TH-YH" column, I only record an entry if today's high is greater than yesterday's high and in the "YL-TL" I
Unless today's bar turns out to be an inside day or very rarely the high and low of today are exactly the same as the high and low as yesterday, then we will have a new high or low.
Think about it. Today's bar, in all probability will make a higher high than yesterday's bar or a lower low than yesterday's bar.
This information is very powerful. Look at the chart below:
Now, the question is - how much of a higher high or lower low will today achieve than yesterday?
In our next example, company XYZ had a range of 200 points (high minus the low) yesterday. Today the high might be 50 points higher than yesterday's high or 50 points lower than yesterday's low. If we can find the average daily distance between the high of yesterday's high to the high of today's bar and the average daily distance between the low of yesterday's bar and the low of today's bar, then we might have a trading opportunity.
Wednesday, 23 July 2008
Pivot Points and stochastic Trading Strategy
When day trading the gbp/jpy we use pivot points and the stochastic as indicators. The pivot points help to take profits and set our stops into support and resistance points. We use the stochastic to help us find overbought and oversold conditions to also buy and take profits into. Depending on if it is a trend day or a range trading day we know what time frame to concentrate on and to look for a bounce from oversold/overbought conditions or for them to remain overbought/oversold.
Thursday, 12 June 2008
GBP/JPY -FOREX STRATEGY
Identify Highest and lowest and then put a buy stop order with the highest price
and a sell stop order with lowest price.
Buy Stop at the highest price : Between 18:00GTM and 2:00GTM
Sell Stop at the lowest price : Between 18:00GTM and 2:00GTM
Target Profit= 100 pips
Stop Loss= 50 pips
If close in S/L open again the stop orders.
Close the day if close in S/L for the second time.
Close the day if close in TP.
Do not change the SL and the TP
Closes orders manually only at the end of the day (18:00 GTM)
READ MORE - GBP/JPY -FOREX STRATEGY
Read More......
and a sell stop order with lowest price.
Forex Trading Rule With This System :
Buy Stop at the highest price : Between 18:00GTM and 2:00GTM
Sell Stop at the lowest price : Between 18:00GTM and 2:00GTM
Target Profit= 100 pips
Stop Loss= 50 pips
If close in S/L open again the stop orders.
Close the day if close in S/L for the second time.
Close the day if close in TP.
Do not change the SL and the TP
Closes orders manually only at the end of the day (18:00 GTM)
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