Big Profit Without Using Any Indicator - page 2

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Good evening! I just joined the FXfisherman and have been reading all of the differnt posts. Been trading stocks for a couple of years, FX for a few months and basically would like to learn more about hedging. The goal being making a small profit with less risk. Of course that may be the holy grail of trading but I believe it can be done. Just have to build the right environment for it to flourish in.

 

Hi everyone,

I have made too many systems myself, most of them don't depend on indicators, I'll explain one of them here now, it is very simple, and profitable most of the time, please note that there isn't a 100% profitable system

At 10PM GMT check for the high and low prices for this hour for GBP/USD for example

The high was 1.9884 and the low was 1.9865

All you have to do is to choose the 1.9865 which was the low of the hour and add 10 pips to it, so it will be 1.9875

This is your buy entry order, so you place a buy entry order @ 1.9875

your target is 60 pips which means 1.9935 and SL is 1.9835, you need to use trailing stop 10

On the otherside you place a sell entry order as follows, add 40 pips to the

buy entry order = 1.9875 +0.0040 = 1.9915, this will be your sell order

So Sell entry order @ 1.9915 TP (60 pips) = 1.9855 SL (40 pips) = 1.9955, you need to use trailing stop 10

If the buy order is executed and didn't reach the 40 pips, this means that the sell order won't get executed, so you need to add a rescue sell order the stoploss of the buy order which was 1.9835

So rescue sell entry order will be @ 1.9835 TP (60 pips) 1.9775 SL (40 pips)1.9875

All opened orders to be closed before 10PM GMT next day, which means no order to exceed 24 hours, no rollover

I usually use 5 lots for each order

These are the results for this system since 1st of May

1st of May:

Buy order got profit of 60 pips (reached target)

Sell order got profit of 55 pips (closed at 10PM GMT)

Total P/L of 1st of May = +115 pips x 5 lots

2nd of May

Buy order reached stop loss = -40 pips

Rescue Sell order got profit of 60 pips (reached target)

Total P/L of 2nd of May = 20 pips x 5 lots

3rd of May

Buy order reached profit of +48 pips but declined back (Using Trailing stop) so closed @ break even = zero pips

Sell order got profit of 60 pips (reached target)

Total P/L of 3rd of May = 60 pips x 5 lots

4th of May

Buy order reached profit of +60 pips (target is reached)

Sell was closed before 10PM GMT with loss = -18 pips

Total P/L of 4th of May = 42 pips x 5 lots

Total profit for my system since 1st of May =

115 + 20 + 60 + 42= 237 pips x 5 lots in 4 days

To check my results check the historycal hourly data for the 4 days above

This system needs too much development, this is not the final setup of it, but the good thing of it that it shows profit

Some days it shows +120 pips (Buy + Sell orders reach target) it doesn't happen too much

It also shows -120 pips (Buy + Sell + rescue sell order reach SL) which happens rarely, I can call it a super whipsaw day, but since it might happen so I'm working on this issue to develope the system

Sometimes targets for Buy order and sell orders are reached but after reaching the stop loss first

I'm trying to inform you with all the positive and negative things of this system.

You can backtest this system using Historycal hourly data from the following link Finam Russian Brokerage Companyata Export

I made this system for people who don't want to use any indicators or charts

I also made a profitable system for NFP, which uptill now it is 100% winning

for the last 12 months + yesterday as well, no loss till now

I can post the signal for it in the next NFP

All my system are free and will never even think to sell it, coz I feel that the best profit is to share info and help others

Best regards and happy trading

 

Thanks Pino2 for sharing your method, is sounds really interesting! I'm just confused about 10pm GMT time, can you tell us EST time please?

Hope you can explain your NFP system as well!

Congratulations for your thoghts about sharing Pino, if more people would thing as you do, we would have a better world!!

 

Hi mari,

Thanks, 5PM EST, at the end of the US session

 

Hi everyone

I'm a newbie to the world of forex, started 6 months ago, and to-date, have lost about US$5,000 trading 2 lots each time. Feeling disillusioned and angry for having lost my savings. currently, using mvg avg crossover SMA 5,9. really need help to improve trading strategy, any suggestions?

Thanks

 

Hi batman_807096,

Sorry to hear that, wish you the best of luck in the future and happy trading, I suggest that you take a rest for a while, to clarify the reason behind this loss, also to read more, practice more on demo account, don't go live again except when you feel confident, and that you learnt the lesson, from your words it seems that you weren't using stoploss, this is too risky, wish you success in order to retrieve back the amount you lost, and funding your account with profit

Best regards

 

hi pino2

Thank you for your kind reply. I guess u are right.... thanks again

 

Your system is very simple but profitable.

Nic

 

My orders for today were as follows

Buy entry order @ 1.9940 TP 2.0000 SL 1.9900 (Trailing stop 10) P/L = zero pips closed at breakeven (prices went up and reached 40 pips but then went back down again

Sell entry order @ 1.9980 TP 1.9920 SL 2.0020 (Trailing stop 10) P/L at the moment is +55 pips, if it didn't reach the 60 pips within the next 1 hour I will close it at market priice, since I don't keep open orders to next day

 
batman_807096:
Hi everyone I'm a newbie to the world of forex, started 6 months ago, and to-date, have lost about US$5,000 trading 2 lots each time. Feeling disillusioned and angry for having lost my savings. currently, using mvg avg crossover SMA 5,9. really need help to improve trading strategy, any suggestions? Thanks

Moving average crossover lags alot its really meant to be a guide not a live price trading strategy.

Economic news is what moves the markets and just use the indicators to sure it up, but trading as the news is released is not how its meant to be its more of a gamble, its the economic state after the news that determines directions of markets.

Economic news and activity (volatility) as in february the chinese bond sell off and the market correction is what moves it, then you use the techs to controll it.Trading from pure techs has really long term never been proven successfull, everything cant point DOWN DOWN DOWN its gotta go DOWN DOWN DOWN and boom it keeps going UP look at the dow atm.(Hopes it will go down on wednesdays FOMC dribble)

You need a good financial news service and learn to interpret it yourself know why its going to move a certain way dont listen to the specualtors.Use this with a sound understanding of technical indicators dont ever rely just on it changing colour or crossing over its still 50/50 let the news and economic states of countrys and companys tell you why the tech is crossing over etc before you make your descision.

Heres a good article doesnt specualte to much just states some well known facts about the USD atm.

Wanted: A Few Good Bulls (Forex) | Forex Focus | Elliott Wave International

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