Daily, no indicator system (Daily, no indicator system) - MT4/MT5 resources
Hi everyone, I have an idea and would like to see your opinions. Most of us know that EUR/USD and USD/CHF have an almost perfect correlation with each other. In fact, they are 99% consistent. I've included photos of two pairs in a monthly timeframe to illustrate this point. Go back a few years and you can see they were opposites. One goes up, the other goes down.
So anyway, I think there has to be a way to take advantage of this. So I've been thinking about what would happen if we bought two pairs. All you have to do is buy (for example) 1 lot of EUR/USD and then 1 lot of USD/CHF. Now set the stop loss to 65 and the profit target to 75 for both. Adjust the spread to suit you so it equals 10 pips. You'll get 10 points almost every day. When one pair hits your stop, the other pair hits your stop shortly after. Now, sometimes both pairs will not hit the stop loss, but will hit your target profit. There are also days when your stop loss is hit but your target profit is not reached. But those days are very, very few and make up for each other. Also, if none of your goals were achieved that day. There is nothing to do but wait for them to attack the next day. Place trades at the beginning of each trading session and check at the close of the next day. This idea works best on the daily time frame.
Put two charts together and backtest, you will be surprised.
let me know what you think
Ed
So anyway, I think there has to be a way to take advantage of this. So I've been thinking about what would happen if we bought two pairs. All you have to do is buy (for example) 1 lot of EUR/USD and then 1 lot of USD/CHF. Now set the stop loss to 65 and the profit target to 75 for both. Adjust the spread to suit you so it equals 10 pips. You'll get 10 points almost every day. When one pair hits your stop, the other pair hits your stop shortly after. Now, sometimes both pairs will not hit the stop loss, but will hit your target profit. There are also days when your stop loss is hit but your target profit is not reached. But those days are very, very few and make up for each other. Also, if none of your goals were achieved that day. There is nothing to do but wait for them to attack the next day. Place trades at the beginning of each trading session and check at the close of the next day. This idea works best on the daily time frame.
Put two charts together and backtest, you will be surprised.
let me know what you think
Ed
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