## Top Ad unit 728 × 90

100 pips daily set and forget is a breakout high/low trading system.
Identify the high and low of of the previous day from 6:00pm to 6:00pm and place 6 limit orders.
Example USD/JPY high=90.50 and low=90.00 )
Set 3 BUY orders 7 pips above the high (high + 7 pips)
Order 1 Entry: High +7pips
Set take profit 15 pips and stop loss 25 pips
Order 2 Entry: High +7pips
Set take profit 35 pips and stop loss 25 pips
Order 3 Entry: High +7pips
Set take profit 50 pips and stop loss 25 pips
Example:
USD/JPY High=90.50 Low=90.00
Order example 1
LONG=90.57 Take Profit=90.72 Stop loss=90.32
Order example 2
LONG=90.57 Take Profit=90.92 Stop loss=90.32
Order example 3
LONG=90.57 Take Profit=91.07 Stop loss=90.32
Set 3 SELL orders 7 pips below the low (low -7 pips)
Order 1 Entry: Low -7pips
Set take profit 15 pips and stop loss 25 pips
Order 2 Entry: Low -7pips
Set take profit 35 pips and stop loss 25 pips
Order 3 Entry: Low -7pips
Set take profit 50 pips and stop loss 25 pips
Example:
High=90.50 Low=90.00
Order example 1
SHORT=89.93  Take Profit=89.78 Stop loss=90.18
Order example 2
SHORT=89.93  Take Profit=89.58 Stop loss=90.18
Order example 3
SHORT=89.93  Take Profit=89.43 Stop loss=90.18
MONEY MANAGEMENT:
If you are lucky (which is usually what happens) and all 3 takeprofit levels are reached – you will make 100 pips profit: 15pips + 35 pips + 50 pips = 100 pips … even if the price move was only 50 pips!
This system is proven to be profitable!

The other 3 scenarios:
A.
2 orders profit targets are reached and the 3 rd order is closed by the stop loss (25pips)+15 pips +35 pips -25 pips = +25 pips profit
B.
1 order profit target is reached and the 2 nd and 3 rd orders areclosed by the stop loss (25pips)
+15 pips -25 pips -25 pips = -35 pips
C.
none of the orders profit targets are reached and all 3 tradesare closed by the stop loss. -75 pips (happens very rarely!)
Remarks: As you can see the entry arrow on the chartis 7 pips below the Low (pink line)
Do not trade: If the 6pm – 6 pm range is too big – over 150 pips. For example Non Farm Pay Roll announcement.
A variation of this system is to enter only two orders: 1 buy and 1 sell pending orders with 50 pips of profit and 40 pips of stop loss.

100 Pips Daily Set And Forget Reviewed by learn forex trading on June 11, 2017 Rating: 5

#### No comments:

All Rights Reserved by Learn Forex Trading © 2014 - 2019

## Contact Form

Name

Email *

Message *

Powered by Blogger.