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.
إرسال تعليق