The Lexcimagala Method
You may set a stop loss according to your risk management; however if the buy and sell occurs near or at the pivot point you may omit the stop loss and just implement a take profit. Theres a strong chance the prices will zig zag up and down the pivot in the morning and before lunch- hitting the profit targets without a hit on the equity.
I can email historical data from a bunch of traders if you're interested.
Cheerios
Oh- and i forgot to mention that this works even better if there is congestion (with no definite trend evidenced by EMA 9/14) at or near the pivot during the opening hours.
Fly high
how about performance about this system in a week ?
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Hi folks. First post. I'd like to share a surefire method of gaining at least 30 pips worth of profit daily based on the observation that upon opening of the market, prices move up and /or down 20 points from the opening price. Forex is 24 hours, but “open” is generally 5:30pm to 6pm (New York time) Tuesdays to Fridays and 6:30pm on Mondays. If you live in the HK time zone, that is 5:30am to 6a
Running the Lex Method is simple. Upon 'opening' of the market at 5:30, the trader activates two simultaneous positions: buying and selling. The market can move up at least 20points, then come back down incurring yet another stream of profit for the selling position. Let your risk control plan naturally guide you when to close either position. In the unlikely chance that the market does not come back down, the loss incurred by either position is covered by the profitable position. For added safety, it is good to implement the Lex Method daily when the opening price is at the pivot point.
Cheerios