Submit by JanusTrader
The “100 pips Daily- Set & Forget” system is a very easy set
and forget system where you don’t have to watch the market
day and night. It is perfect for beginners and people with
9am-5pm day jobs.
To use this system you don’t need to be a market guru. It uses
pure mathematical calculations that even a child can do. The
algorithm is based on a 6:00pm est – 6:00pm est (yesterday –
today) range and Asian Session opening around 7:00pm est.
Let’s begin:
Forex Candlestick charts show sets of data consisting of open,
high, low, and close values of each period.
The hollow and filled section is called “the body”. The linesabove or below “the body” are called shadows or tails. If thestock has closed higher than the opening price, then a hollow
candlestick is drawn. In addition, if the stock closed lower thanthe opening price, a filled candlestick is drawn.
In a hollow
candlestick where closing price is higher than opening price,
the lower body shows opening price and the upper body shows
closing price. In a filled candlestick where closing price is lower
than opening price, the lower body shows closing price and the
upper body shows opening price. Hollow means stocks up and
filled means stock is down.
SETUP
Let me introduce this, the World’s Set and Forget Strategy. This
simple system is time based and can be used only once a day .
You don’t need any indicators, just a “charting tool” in your
trading platform and a simple calculator.
Max Daily Profit Potential: 100 pips
This is a very simple and proven to be profitable manual “set
and forget” system. You will have to place orders every day at
the same time. The system uses smart money managment and
profit targets and gives you the opportunity to make 100 pips
even on 50-60 pips pair move! We are taking advantage of the
Asian session opening at around 7:00pm.
The system works on USD/JPY ( you may also try GBP/JPY and
other “JPY” pairs), I use USD/JPY.
The rules of this system are simple, and managing trades,
and calculating levels will take no more than five minutes of
your time. The only tricky part is using your knowledge to set
limit orders. ( you can trade the system manually of course..)
Let me introduce you to the 3 simple steps below. Then I’ll
take you through some actual examples in order to illustrate
just how easy this system is.
This trading system involves 3 simple steps.
1. Get ready around 6:00 pm EST
2. Identify your entry levels
3. Place 6 limit orders
That’s it! You don’t have to monitor your trades. All your
trades will be executed by your limit orders..
The Strategy Step by step:
1. 1. At 6:00pm EST pull a 2H (or 1H or 4H - doesn't matter -
it will be used only to determinate high/low of the 24 hour)
chart USD/JPY. See example above.
2. Identify the USD/JPY high and low of the 24 hours period
from 6:00pm to 6:00pm
( let’s take an example high=90.50 and low=90.00 )
Identify your entry levels
4. Set 3BUYorders 7 pips above the high (high + 7 pips)
Order 1 Entry:High +7pips
Set take profit15 pipsand stop loss 25 pips
Order 2 Entry:High +7pips
Set take profit35 pipsand stop loss 25 pips
Order 3 Entry:High +7pips
Set take profit50 pipsand stop loss 25 pips
Example:
USD/JPY High=90.50 Low=90.00
Order example 1LONG=90.57 Take Profit=90.72 Stop
loss=90.32
Order example 2LONG=90.57 Take Profit=90.92 Stop
loss=90.32
Order example 3LONG=90.57 Take Profit=91.07 Stop
loss=90.32
5. Set 3SELLorders 7 pips below the low (low -7 pips)
Order 1 Entry:Low -7pips
Set take profit15 pipsand stop loss 25 pips
Order 2 Entry:Low -7pips
Set take profit35 pipsand stop loss 25 pips
Order 3 Entry:Low -7pips
Set take profit50 pipsand stop loss 25 pips
Example:
High=90.50 Low=90.00
Order example 1SHORT=89.93 Take Profit=89.78 Stop
loss=90.18
Order example 2SHORT=89.93 Take Profit=89.58 Stop
loss=90.18
Order example 3SHORT=89.93 Take Profit=89.43 Stop
loss=90.18
Share your opinion, can help everyone to understand the forex strategy.
Write a comment
Comments: 19
- #1
ade (Tuesday, 05 November 2013 07:13)
which broker allows this type of multiple entry, i have tried it on my broker, but it did not work
oyewale2000@gmail.com - #2
sridhar (Monday, 09 December 2013 09:05)
good system worth trying...how about trading another negatively co related pair with 15pips buffer, to reduce loss....essar168@yahoo.com
- #3
sridhar (Monday, 09 December 2013 11:29)
limit orders or stop orders? i guess u meant stop orders?
- #4
Tibor (Wednesday, 12 March 2014 10:26)
I can make an automated system if this does work. Have anyone cheked it deep enough?
- #5
Peter (Tuesday, 15 July 2014 16:01)
Hi
it works good
What about the other three orders which are not executed , shall i delete them at 6 pm EST time ? - #6
Riz (Friday, 03 October 2014 10:30)
In theory it sounds good, but what if all 3 orders are activated but none reach the TP point but instead reached the SL? That's one shot 75 pips gone.
- #7
Ty (Monday, 20 October 2014 00:37)
I agree with Riz here if you enter all three trades and they all lose that's
75 pips gone I can't see how this strategy really works when you factor that
in - #8
ty (Monday, 20 October 2014 15:59)
I agree what if you trigger on all 3 orders and get stopped out on all of them that's 75 pips gone where is the money management on that
- #9
LMAO (Tuesday, 11 November 2014 15:03)
Riz....that's FX. You risk. You must be a newb.
- #10
Jacob (Thursday, 04 December 2014 14:42)
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- #11
Bruce (Wednesday, 22 April 2015 21:45)
Here's a hint ... You must use triggers and OCO (One-Cancels-Other) orders.
- #12
Kent (Saturday, 08 October 2016 16:56)
If you want to get a better visual of where the market is heading,go to a higher time frame. Oco orders are a good idea
- #13
Frederic (Monday, 05 December 2016 02:25)
You need to show more examples. Anyone give this a try already?
- #14
Frederic (Monday, 05 December 2016 05:00)
Need for attach examples. Anyone tried this?
- #15
Demo (Sunday, 30 April 2017 18:27)
I will try this for about 2 months on a demo account and see the outcome and see the profit and lose ratio.
- #16
Seedassure (Sunday, 08 April 2018 22:46)
What if the six trades are not executed @ the same time. Will it still work out.
- #17
Judista (Friday, 09 April 2021 23:55)
Hmm... this is interesting... i think if this using EA, will be simple.. if SL reached.. then open again with opposite Position, i will make this EA
- #18
Baka (Tuesday, 12 October 2021 14:20)
Judista does your EA got profit? dangbachsieupro@gmail.com
- #19
NMKLTrader (Sunday, 21 November 2021 17:55)
Backtested this strategy 100 times over a 10 month period and the overall gain was 2200 pips. The win rate varies on each TP level. This is the "set it and forget it" attitude. However if you trailyour stop to break even once you hit your first and/or 2nd TP, then your gains will be much higher. I recommend back testing yourself.
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