Super Carry Trade Trading System - MT4/MT5 Resources
Super Arbitrage Trading System
Say hello to everyone. I've posted a few trading systems here before, and the reason I did so was to allow others to critique and improve them. This is my latest system and I have been using a modified version of this system on a live account since early 2008. This system brings me profits of 8% to 10% per month, or around 100% or more per year, depending on market conditions. I got the idea from Oanda from the "Knightrider" forum for "beginners" who has doubled his account every year for the past two years.
I do "averaging", which some people don't like, but the actual trading aspect of the system helps mitigate any negative effects of "cost averaging" entries. Please review and criticize/provide suggestions whenever possible.
GBP/JPY long trade only (positive interest)
Use 0.5% of your net available balance per transaction (Oanda does this automatically)
1. Market orders can be entered at any time
2. Place a limit order (long) at a price 10 points higher than the initial entry price
3. Set a 10-point profit target for all limit orders, with a maximum of 200-400 points higher than the current market.
4. If the market drops (arbitrage trade closing) by 200 points, enter a market order once a day without taking profit, trying to reduce the average price of all orders to within 100-200 points of the current market. Each additional market order decreases the "average" of the order.
5. Enter a limit order (long) at a price 10 pips higher than the market order until the order has been entered.
6. Any time you have more than 1 open order and the market price is higher than the average price, close all orders (Oanda makes this easy to do).
7. If the market continues to fall, continue to place orders (such as 4-6 above) and try to keep the "average price" within 100-200 points of the current price.
advantage:
· Valid under all market conditions (range, trend).
· Provides trading and interest profits.
· Monitor the market only once or twice a day as needed.
shortcoming:
· Caution is required during the closing of arbitrage trades. If necessary, limit further buying to a 400-500 pip drawdown during severe liquidation periods.
Say hello to everyone. I've posted a few trading systems here before, and the reason I did so was to allow others to critique and improve them. This is my latest system and I have been using a modified version of this system on a live account since early 2008. This system brings me profits of 8% to 10% per month, or around 100% or more per year, depending on market conditions. I got the idea from Oanda from the "Knightrider" forum for "beginners" who has doubled his account every year for the past two years.
I do "averaging", which some people don't like, but the actual trading aspect of the system helps mitigate any negative effects of "cost averaging" entries. Please review and criticize/provide suggestions whenever possible.
GBP/JPY long trade only (positive interest)
Use 0.5% of your net available balance per transaction (Oanda does this automatically)
1. Market orders can be entered at any time
2. Place a limit order (long) at a price 10 points higher than the initial entry price
3. Set a 10-point profit target for all limit orders, with a maximum of 200-400 points higher than the current market.
4. If the market drops (arbitrage trade closing) by 200 points, enter a market order once a day without taking profit, trying to reduce the average price of all orders to within 100-200 points of the current market. Each additional market order decreases the "average" of the order.
5. Enter a limit order (long) at a price 10 pips higher than the market order until the order has been entered.
6. Any time you have more than 1 open order and the market price is higher than the average price, close all orders (Oanda makes this easy to do).
7. If the market continues to fall, continue to place orders (such as 4-6 above) and try to keep the "average price" within 100-200 points of the current price.
advantage:
· Valid under all market conditions (range, trend).
· Provides trading and interest profits.
· Monitor the market only once or twice a day as needed.
shortcoming:
· Caution is required during the closing of arbitrage trades. If necessary, limit further buying to a 400-500 pip drawdown during severe liquidation periods.
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