I will be giving you the rules behind a very simple and extremely profitable trading strategy. This strategy has yielded pips in the last 20 trading days and is very profitable due to the 4: I have other systems with high risk reward such as this, and do not recommend trading any strategy that is not AT LEAST 2: It's up to you. These are the rules:. Find the high and low from 6 pm to 8 pm EASTERN STANDARD TIME As soon as the high OR low is broken after 8 PM by 2.
When you place your buy or sell make sure you do two separate orders. You will be taking profits at two different levels and that is the reason for this. If the high or low is not broken by 10 pm EST DO NOT ENTER THE TRADE!! As soon as your trade is opened, place a This is very important that it's in addition to your spread!! That's a total risk of Next, place take profits levels of 40 pips on the first order and 70 pips on the second order.
DO NOT MOVE YOUR STOP LOSS ON EITHER ORDER UNTIL YOUR FIRST ORDER HAS REACHED TAKE PROFIT. Good luck with this and happy pipping!
Let me know if this works for you. Thanks, will be taking a look at it tomorrow, getting late now. How long have you been trading this system? And how much experience have you had with forex? Surely, your post count isn't an accurate portrayal of your time spent trading. I'm missing something, if the high is broken do you buy or do you sell? I am sure your question was intended for the original poster but I happened across the thread and thought I would share.
For a breakout of a previous high or low you would trade in the direction of the breakout. If price breaks the high, you go long and if it breaks the low, you go short. That pretty much applies to any trade of this type; this being a straddle of sorts.
For example if you look at last night's Asian session, for the 6pm - 8pm Eastern time zone hours the high was Marvindoriot's rules would indicate that you would wait until 2 pips above and below the high and low of those hours. So essentially you are looking for If price had hit If price hit As you can see from last night's session, this trade did not trigger the buy During the Asian session anyway. The sell triggered for a loss. The price of Please keep in mind, depending on your broker, the price may vary a little obviously.
I am just going off of my charts. This is why it is important to follow the rules that Marvindoriot has outlined - - - taking a trade in the London session doesn't qualify under these rules nor would it qualify as a breakout in the Asian session. At a glance just over the past few weeks: Paying attention to the session in which the trade triggered above, those that triggered after 10pm eastern as stated in the rules would not have been traded. Straddle trades are some of the most simplistic trades you can take.
They are not based on any analysis, just simply breaking the high and low of a bracket of time or session. However, many traders use them.
I would strongly caution you to be very careful with risk and money management as well as your stop loss when trading this way - BUT Marvindoriot has already provided you with good advice for both. If you follow the rules as he stated, this can bring you some pips while you learn and grow as a trader. Just be sure to stick to his advice of a very tight stop loss and low risk.
I just want to commend you for sharing your ideas and experiences with the newbies on the forum! Although per the forum, I too am a "newbie" I always appreciate when someone advises others on solid money management and risk! Best wishes for much trading success!
If you break the high, you buy. A break of the low, you sell. And again, if you do not get your entry within two hours you stay out!
The others posting in this thread are not followingthese rules and will thus not see results. I will post more images so you all understand it. I have been in the markets for years and I run a hedge fund for a living. Here is what your results should actually be for the last 20 trading days 1 month if you follow the above rules, with the last trading day being Thursday evening, April 21, If you did not get these results from your manual backtest, then you are NOT doing this strategy properly.
I will try to get more images up this weekend so everyone understands the rules more clearly. And thank you clark for the hint reguarding the image posting because this forum wasnt allowing me to attach them to my post.
Also, the reason this works is because the Asian markets are opening and new money is coming into the market. And again, if you arent getting a trigger in the first two hours then do not get in! Please make sure you are understanding and reading your charts properly. Perhaps you looking at the wrong time frame and thus results posted below are incorrect.
1 Hour Trading Strategy In Forex With USDJPY - Asian Session Trading
Let me know if you have questions. I am not sure where the miscommunication was Since I am the only other one that has posted within this thread regarding the strategy not with questions , I must conclude that the following statement you posted must be directed about me:.
I was illustrating to anyone that may view the thread just how important is to follow your rules if they intend to use your strategy - and even complimented you on it and for being so thorough. The only reason I mentioned when the trades did in fact trigger is so that they pay particular attention to staying within the recommended time frame you suggested.
If they do not, it isn't quite an "Asian" breakout now is it? But now that you mention it, I must also state that " And that would be with taking a trade each and every time the price level was hit regardless of when. Not to mention the numerous straddle "breakout" trades that are all over the internet and have been for years - many with consistent results.
Now, I would never recommend that anyone do that. You have your rules for a reason - but since you stated such, the thought of demonstrating arose. I meant you no offense and I am sorry you saw fit to take it as such. I hope it is clearer to you now that I only supported the following of your rules and simply illustrated such.
Marvindoriot, I do very much appreciate that, but no, I am clear. I was also on the phone when posting last night so I did not mean to state that the trade did not "trigger" - I was only referencing that it did not profit. The difference in price that I quoted was a simple "bump" of the mouse while notating it, that is all.
I very much understand my charts and read them properly, it was not of urgent importance at that moment and much of my attention was diverted. The entire and singular point of mentioning the trade last night was that it did not profit - it was not of high relevance of any sort - but the system if followed, can and will.
Hey trading, I understand Have a prosperous day! Thursday evenings in the US would be Fri a. I don't trade the Fri. US session because it seems to me that there is a lot of going on then to rebalance portfolios for week's end.
Does that happen during the Fri a. Asian session US Thu.
20 PIPS ASIAN SESSION BREAKOUT STRATEGY
Dobro, any Asian session may be traded with this strategy, and that includes their Friday am session. I can check to see if Fridays have resulted in much of a difference in the success rate I haven't noticed once as of late however. I respect that you actually care and have concern for those you will be assisting.
I was actually moved to speak up because of it.The Benefits of Trading the Asian Session by Wayne McDonell,
I chimed in to give a second voice, a confirmation if you will, and should have taken a little more care of attention to detail in that post instead of typing it up while distracted. Aside from the error that I mentioned earlier to be somewhat irrelevant to the original point , I hope that I was able to convey the original point that there are pips to be had with you here!
Sometimes you see new threads that leave so many questions and leave much to guess work for the newer traders. You were extremely thorough with your money management, risk, etc.
When I looked at the thread it was not for the intent of following the method, I just like to review other's ideas. I would encourage anyone to test it for themselves - it will be a great help for them in learning how this particular pair moves.
May your success be great, as well as that of those you assist! I havent traded with usdjpy pair since then.
Can you tell me please what is the 1 pip move in this pair. Some brokers put an extra hundredihs and it is kinda confusing.
These are the rules: Try uploading on Postimage. They do a fine job. Ifo, Yellen's Testimony, U. Free Forex Trading Systems. Can't see both pictures haha. Hi Marvindoriot, I am not sure where the miscommunication was Since I am the only other one that has posted within this thread regarding the strategy not with questions , I must conclude that the following statement you posted must be directed about me: I guess you must have missed that part but no worries.