After watching this video about Darrell absolutely killing it, Mike gave me an idea of this system. I modified the entry and limit and this is what i came up.
A KISS (Keep It Simple Stupid) trading system of 20 pip stop/profit. Your welcome to post you opinion or help me test it out.
Rules:
- One trade per day winner or loser (+/- 20 pips)
- Submit signal after 9 PM ET
- Sleep while you make your money work
Entry:
- Create an OCO order everyday on the 0.5 deviation level (BUY) and the -0.5 deviation level (SELL) with a 20 pip stop and a 20 pip limit so that when one get executed the other one cancels.
Pros:
- 1:1 risk/reward (50% + makes you money)
- 66% chance it will breakout 0.5 level
- Really simple(makes money while you sleep)
- 1 minute trade (Just place the trade)
Cons:
- 20 pips to small stop/limit
- Breakout strategy will not work all days (Ranging market)
Result:
GBP/USD
(0.5 deviation level) 60% Profitable
- Week 1(3/13-17): 4/4 (100%)
- Week 2(3/20-23): 1/3 (33%)
- Week 3(3/27-4/1): 1/4 (25%)
- Week 4(4/3-4/8): 5/5 (100%)
- Week 5(4/10-4/15): 3/5 (60%)
- Week 6(4/17-4/22): 2/5 (40%)
(0.7 deviation level) 57% Profitable
- Week 1(3/27-4/1): 2/3 (66%)
- Week 2(4/3-4/8): 1/5 (20%)
- Week 3(4/10-4/15): 3/5 (60%)
- Week 4(4/17-4/22): 4/5 (80%)
Example:
Two trades. One lost, one won.