Set it and Forget it, Dollar Cost Averag
The system is very simple, but requires the ability to open 20 equal positions. I've been using it to calculate the euro and it's up over 5% every week.
1) Choose a direction using whatever method you want, or guess it doesn't really matter.
2) Open your trades at a time before or after all the news for the day. 1 position, no stop loss, 50 pips tp, I use 50:1 leverage which gives me about 1% per open position, you will do better with higher leverage, just make sure you have enough margin for 20 positions.
3) Come back the day before or after the news release (same as step 2), if the trade still exists, open another position and move the target price of all open positions from the average position to 50 pips, if it disappears, go back to step 1.
4) Repeat step 3
Even if you choose the wrong direction, a small correction after the average will give you pips, I didn't wait more than a week and was at one point 150 pips away from the target price. I trade around 11:00 PM New York time and I use O and A so splitting an account into 20 positions is easy as their minimum contract is $1.
Update 8/17/2012: I open a new trade as soon as the target price is reached and then add additional positions at the same time each day until the target price is reached. It improves profitability.
Update August 19, 2012 Updated the rules in post 91 of this thread. Additionally, all new transactions after the 8th to the 20th will be split into 2 accounts. One account is long and the other is short.
1) Choose a direction using whatever method you want, or guess it doesn't really matter.
2) Open your trades at a time before or after all the news for the day. 1 position, no stop loss, 50 pips tp, I use 50:1 leverage which gives me about 1% per open position, you will do better with higher leverage, just make sure you have enough margin for 20 positions.
3) Come back the day before or after the news release (same as step 2), if the trade still exists, open another position and move the target price of all open positions from the average position to 50 pips, if it disappears, go back to step 1.
4) Repeat step 3
Even if you choose the wrong direction, a small correction after the average will give you pips, I didn't wait more than a week and was at one point 150 pips away from the target price. I trade around 11:00 PM New York time and I use O and A so splitting an account into 20 positions is easy as their minimum contract is $1.
Update 8/17/2012: I open a new trade as soon as the target price is reached and then add additional positions at the same time each day until the target price is reached. It improves profitability.
Update August 19, 2012 Updated the rules in post 91 of this thread. Additionally, all new transactions after the 8th to the 20th will be split into 2 accounts. One account is long and the other is short.
📦 Summary of post attachments (6)
Below are all the files (6) shared in the reply.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •