Daily 95 Pips Forex strategy

The basic system is very simple and has proven to be beneficial, though I customize money management / target profit. This is purely a "set and forget" system whereby the trade is placed at the same time each day. This option also exists for those who tend to monitor their position to adjust the stop levels as profit target is reached. Please note that the current Expert Advisor was created to automate trade strategies, thus keeping to set and forget the goal. Please click on the paper clip on the right side of the screen to find the current version.

By setting targets some of us carry out the management of money, while aiming for 95 pips profit from moving 50 pips in the price. We will only put order 5 pips above the HEIGHT of the previous day and 5 pips below the previous LOW days (actually, it was more like 5 hours earlier at 5 pm EST.) Use the stop loss 30 pips for all orders. An order placed on Monday, Tuesday, Wednesday, Thursday and Friday.

Execution

1. At 5: 00 pm EST. Opens the chart show (2 hours b4 the early Asian session) of the USD/JPY. For those who spread the broker still wide in 5: 00 pm EST on Sunday (which is 7: 00 pm my time on Monday here in Brisbane), to avoid widespread You may have to wait until they dropped to normal before placing an order for the day. I usually have to wait until about 20: 00 EST.
2. Use high and low of 17hrs before. For reservations Monday back as far as 00: 00 EST on Friday for the high and low.
3. Open a total of 6 orders PENDING (to pair each) including 3 stop BUY and SELL stop is due within 24 hours (I use 18hrs) as follows:

Buy/Long Orders:
1-Entry = HIGH + 5 pips, Take Profit = 15pips, S/L = 30pips
2-Entry = HIGH + 5 pips, Take Profit = 30pips, S/L = 30pips
3-Entry = HIGH + 5 pips, Take Profit = 50pips, S/L = 30pips

Sell/short Order:
1-Entry = LOW-5pips, Take Profit = 15pips, S/L = 30pips
2-Entry = LOW-5pips, Take Profit S = 30pips,/L = 30pips
3-Entry = LOW-5pips, Take Profit = 50pips, S/L = 30pips


After You have placed your order you are free to go and do something else with you as this strategy does not require you to be the monitoring of the trade. Whereas, as already mentioned, to maximize the results that you can choose to adjust the stop when the target profit level is reached.

There can be 4 results are possible after good trade long or short is triggered:

1. All 3 target profit which reached a total of 95 pips.
2. The first target profit reached 2 (+ 45 pips) and the rest a lot stopped out (-30pips) left a total of + 15 pips.
3. The first Target is reached) profit (+ 15 pips) and two more the rest of the stops out for total-45pips.
4. All 3 lot stopped out for a total-90pips.

Additional to this is the result variable when both long and short trading triggered.
Also note that for those so inclined to monitor trade, stop level may be adjusted in the rest of the lot/s to protect the gains that have been achieved. Trailing stops can also be used at Your discretion.

Please note that as a general guideline You don't have to risk more than 3% of your trading account in one trade. Therefore, with the order size Daily 95 Pips  strategy should be shared between the long and short. The total potential losses on long command (90pips) so will add up to 3% of your trading account. Or, You can take the risk of 3% of your trading capital on orders EACH, amounting to 9% of your trading capital into risky to trade a long time. The same is true for short commands.

By: mikelath

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