Simplest GBP/JPY System Ever
Open Indi
Pair: GBP/JPY (because of large daily range)
Start: 00 GMT
1. Place Buy Stop order 50 pips above market open with a 50 pip stop loss, and no take profit.
2. Place Sell Stop order 50 pips below market open with a 50 pip stop loss, and no take profit.
Close all orders at 2359 and repeat.
This is a profitable set-and-forget system. I have no figures and have only backtested for a few weeks.
Please backtest, or use EA for backtesting, and post results here.Use this to back test your idea
I modified an existing indicator and added your levels.
Enjoy
Hi,
23:59 what time zone????? or what broker did you test on ??????
Cheers
LordfxGMT just as in the entry. thank you.
Why not a trailing stop, something like 50 or 75 pips? You would be able to cut your losses (with sometimes small gains) on rangning situations like in the pic (3 days in a row) and yet catch big moves like the one at the right?
Chamane
What is the money managment that you use for this TS ?
What is the money managment that you use for this TS ?
I haven't tried this system yet. But I would follow Dreamliner's rules with the addition of a trailing stop (50-75 pips) to minimize losses during choppy markets.
Chamane
I'm closing profits earlier , when it get to 20 , 25 pips , I open the orders here at 21:00 -3 GMT and the day after I close when it is in profit
in gbp / jpy good things to play with
these few days
when most currency got STUCK and do not want to even move
please show us dig, of TP and SL level
and can we play gbp/jpy on 5M chart -- show us chart pls (BEFORE ENTRY and after EXIT)
Use this to back test your idea
I modified an existing indicator and added your levels.
Enjoy
Instead trading GJ, this indicator is much better for GBP/US. Actually, I find that is a GREAT indicator for that particular pair.
Thanks a lot, CJA 
!!!... I was needing some kind of weapon to handle that pair. Now, you give me a CANON 
. U are great !!!...
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Pair: GBP/JPY (because of large daily range)
Start: 00 GMT
1. Place Buy Stop order 50 pips above market open with a 50 pip stop loss, and no take profit.
2. Place Sell Stop order 50 pips below market open with a 50 pip stop loss, and no take profit.
Close all orders at 2359 and repeat.
This is a profitable set-and-forget system. I have no figures and have only backtested for a few weeks.
Please backtest, or use EA for backtesting, and post results here.