150-200 pip/month without technical indicators.
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Thread: 150-200 pip/month without technical indicators.

  1. #1
    Stochs, RSI, MACD and each of these indiors may work well for quite a few, but I feel uneasy with them. I like something simple. I am using something that has been working nicely, without any indiors, simply strict money management.

    All I need is to create 50 pips each week. With this system, should you return at the charts, it has been achieved. There was about 5 or 4 times when it was not achieved in one week, but took two weeks, but still in the end the 50 pips was achieved. Where strong MM subject comes in to save the day this is.

    *Time said here will probably be in GMT 8.

    I'll start the GBP/USD chart at 4.35 pm. I trade the breakout of this station from 8 am - 4.35 pm. I put up the trade at 3 pips away from the high/low. Stoploss 25 pips, target 50 pips.

    If no trades are opened at 7.50 pm, then I cancel all trades. Wait for proper setup the next moment.

    When I get stopped out, I don't re-enter the same moment. I wait patiently for an opportunity the next day, involving 4.35 pm to 7.50 pm. I raise the lot size enough to regain my loss. As it's kind of a martingale egy some might freak out at this stage. Firstly, I am not doubling up my lots, but 1.5 times. As my stop loss is 25 pips, it's half of my target. When I lose, I need to create 1.5 times next time to recoup my loss and reach my target. But this is not all the time. I really do have a table drawn out on lots I would buy on the first, next, third attempt etc, and how many pips I would put as target. I will slowly increase the target size so I could keep the lot size low.

    It needs to be a balance of manageable lot size, and achievable pip target. In as little tries as possible I would love to accomplish my target, so keeping the pip target achievable is important to me.

    Due to this semi-martingale egy, I start off with trading 1 percent of my account. This leaves plenty of space for me to trade safely.

    Once I reach my 50 pips for the weekI stop. Regardless of what.

    This egy may not promise as much pips as a few other egies, but for me this is simple enough to keep me happy. Indiors and such give me a headache, it seems to me like noise or possibly because I can not understand it. Even indiors needs to be used with money management, otherwise somebody could just as easily blow their account.

    So, what's the potential of the egy? Let's say we start with a small account size. $3500.

    Within 52 weeks, or shall I say 52 successful attempts (some attempts take two weeks, but that occurs just a few times every year), you'll be earning $188 dollars per week, that is $752 dollars monthly.

    Of course if you could start of with a bigger account, all the better.
    So here's how it looks like: Starting capital; How much you'd be earning in 52 months

    $3500; $752 monthly
    $10,000; $2152 monthly
    $15,000; $3228 monthly
    $20,000; $4304 monthly
    $30,000; $6460 monthly

    I don't know about you, but that is much more than enough for me to live comfortably. I prefer having a egy, than to live on greed and fear for the promise of a bigger return, which is not guaranteed. The amounts I could say if I MM, stick with my system and keep my head level, is ensured. Holy grail? No, would not call it yet. But'm pretty close. See what goes!

  2. #2
    105923Guys this is a beginners forum, take it easy on the man. I don't agree that the system works, but no desire to ram down the man's throat. It is not like he's planning for 1 pip at a time without a SL.

    Good luck Maya, but I am sorry to say that I highly doubt that this will continue long term, but by all means try and prove me wrong...

  3. #3
    92118
    Quote Originally Posted by ;
    Hi Bob,

    It is such a relieve hearing these words from a seasoned trader. It is reassuring to know there are experienced folks out there who isn't out to step on new ones such as us.

    Placing pending trades is exactly how I do it in the present time. With my broker, GFT, the platform is Dealbook, I put the long and short. It is a parent contingences order. . .Parent being the Stop order which is only opened when the price is hit, then will the stop loss and take profit order becomes triggered.

    Vice versa for brief entrance.

    So for brief, to wait an entry, I will have 6 orders put up. 3 for extended, 3 for short.
    Thanks to this clarifiion on the pending trades. I don't know how you've got the 6 orders put up, 3 to 3 and long for short. How does this work?

  4. #4
    92118whassup dude...
    just gbp/usd? What others?

    edit: today its break short right. . .wait and see...

  5. #5
    92118Let talk about moving long first. I'll set a stop order to get a buy trade to be opened together with the station breaks. I also set up two other orders, 1 stop loss of 25 pips, and 1 take profit of 50 pips. These two are only activated if a buy order is opened.

    In Dealbook it's called parent and contingencies order. The buy order is your parent order, the stop loss market order and accept profit market order are the contingencies. That is 3 orders only for extended.

    This implies that following my look in the charts at 4:40 pm, I set these up trades and literally walk away for the entire day without needing to do anything, unless if I want to move to breakeven after the trade has gone my way.

    Hope I was able to clarify that ok Bob?

    Quote Originally Posted by ;
    Thank you for the clarifiion on the pending trades. I don't understand how you have the 6 orders set up, 3 to 3 and long for short. How does this work?

  6. #6
    92118 Ya it is short now. Have clicked and have moved my stop to breakeven now, I do that after about 30 pips or so. Hope it proceeds to my goal

  7. #7
    Quote Originally Posted by ;
    Ya it is short now. Have moved my stop to breakeven today and have entered, I do that after about 30 pips roughly. Hope it continues to my goal
    oh u do breakeven at 30 pips..okay. . .anyway which part of malaysia are u in?

  8. #8
    92118My SELL was filled...I currently am using a manual trading cease on Oanda. My current SL guarantees me a minimum of a 20 pip profit. My Yeomans Currency Meter reveals the USD powerful and the GBP weak. Hope you guys get your 50 pip profit. . .but I have to get some sleep!

  9. #9
    92118
    Quote Originally Posted by ;
    My SELL was filled...I currently am using a manual trading cease on Oanda. My current SL guarantees me a minimum of a 20 pip profit. My Yeomans Currency Meter shows the GBP weak and the USD strong. Hope you guys get your 50 pip profit. . .but I need to get some sleep!
    Great nite

  10. #10
    92118
    Quote Originally Posted by ;
    Men this is a beginners forum, take it easy on the guy.
    The guy is a woman and its not a bad attempt for a newbie. The machine is thought out with great risk reward and also a model of cash management. Tdion is correct about projected yields and reality being different things. The market is a lot more brutal than he is when it comes to teaching newbies. It looks like it ought to hold up ok though. In future la_maya_k I suggest testing your system. Your projected system potential is meaningless as you're just about to discover. Fantastic luck.
    P.s if it doesent work out, look into selling strength and buying weakness, apparently, thats exactly what is different between the elite 5% you are trying to combine, and the rest

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