15 Pips Per Day Strategy

[feb2865]

I Played with RSI , stochs, WMA 5 Crossing WMA 20 (bunny's strategy) and after a while a realize that I need to figure out how much I want from the market. If I can secure 10-15 pips with 2 or 3 lots I'll be allrigth. Then I started to read about PV. I noticed that everytime price crossover pivot usually keeps going in that direction. All of the sudden my chart was naked.

As for me , the "confirmation candle" or bar, depending on your chart setup gives me an earlier comfirmation for entry than MA's

Just my experience. I am definitely atracted to simpler strategies. I think the simpler, the better.

I will definitely try yours tomorrow on New york market to see how it goes

will keep you posted

[paxtoyou]

Yeah, the overlapping of London and NY times help a lot . I'm still working with my FXgame account. Been working with it for a while. I want to make sure my system works really good before I go live. I'm going to keep playing with it for another 6 months.

In January of 2007, I plan on opening a live account with $3k and then making 'live' trades at that time.

In the meantime, I should be able to get some good feedback on those who are trading it live. However, the practice account I have with follows actual Eur market conditions so the only difference is the money aspect (which is a lot though.. true!) but as long as you have a set method or strategy of knowing when to buy so that you'll hit your take profit, I don't think it should be too much of a problem.

When I trade it 'live' though, I'll just target 2 trades a day with 11 pips per trade. This way the odds are in favor that I should be able to reach my take profit everytime. Though we shall see .

Thanks for the input!...

~Steve

[paxtoyou]

Yes, please do keep me posted. I would love to hear how it goes for you. Again, don't forget to change the last MACD I mentioned to 4,6,5. That's pretty vital to get the best accuracy with the method.

Also, another important point: The trigger to enter the trade is at the BEGINNING of the 15 min. time frame when they are all pointing in the same direction. The reason why I say this is because sometimes you have the indicators all in the same direction during the 15 min. time frame.. but many times they don't all agree by the time the beginning of second 15 min. time frame comes. So its important that you enter when during the beginning of the 15 min. time frame when they all agree (the two MACD's and your Slow Stocastic).

You might want to start out just taking 11-12 pips.. something like that at first. I've noticed that there is about 2-3 trades on average per day that can be made in this time frame (7:30am - 11:30am) with this method.

I wish you much luck with your trades!..

Would love to hear how you do..

Take care,
~Steve

[bhale]

Paxtoyou,
In your earlier post that shows the last 9 trades,
//////////////////////
Here's the last 9 trades that have transpired from June 8th - June 13th:

20 pips
16 pips (this was the only loss using the 15 pips strategy)
31 pips
22 pips
19 pips
23 pips
35 pips
35 pips
17 pips
/////////////////////

How can up say that you got more than 15 pips per trade when that is what you are shooting for? I am assuming you are setting a limit of 15 pips when you enter a trade.
Also, it is very confusing to say 3 min SMA on 15 minute chart. Do you mean 3 PERIOD SMA on a 15 minute chart?

[paxtoyou]

Hello Bhale,

I was just demonstrating that most of the trades made with this strategy made at least 15 pips or better. Yes, I use a take profit at 15 pips when I enter into the trade. Actually recently I've decided to play it safe and just put my take profit at 11-13 pips per trade.

Yes, its a 3 min. period SMA on the 15 min EUR/USD chart. I didn't know how else to explain it. I've always seen it written as a 1 min WMA or 3 min SMA. But yes, those are the time frames for the either weighted or simple moving averages.

Hope that helps,
~Steve

[paxtoyou]

Here's the 3 trades that could have been made with this method:

(I'm showing the complete range if you had gone with the entire trade without using the take profit of 11-15 pips)

18 Pips
72 Pips
15 Pips

Thanks,
Steve

[paxtoyou]

Those results listed in my last post are from today, June 14th, 2006.

Thanks,
Steve

[paxtoyou]

Change To Strategy:

When I first made up this system I used a 1 min period WMA to cross over a 3 min period WMA to show general market direction. But then I thought, hmm, how about if I make the cross over just before another trade is to be made. Well, if you change the 3 min period WMA to a 6 min WMA it does just that .

Hope you all like the method,

Take care,
~Steve

P.S. If you have any suggestions for improvement I would love to hear them. Thanks!.