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Quick Buck Strategy

sam_1_els · 18 · 6719

sam_1_els

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   Who wants to have these kind of trade results? 48 straight winning trades without a loss (but soon will... believe me, lolz).




   The above screenshot is from one of my live accounts. well... not exactly mine, isa sa mga managed accounts ko. Yung withdrawal na $580.81 sa last row (color gray) will prove that this is a live account, sa demo account kasi you can't withdraw.

Ok, cut the bull... umpisahan na natin:
The strategy I'm about to share is consist of scalping and straddle technique. POOR money management. This strategy is not my own invention, nakita ko lang sa forexfactory na binabatikos dahil walang money management. Kaya I tweaked it, put stop loss and discretionary enter/exit point. Wala akong maisip na ipapangalan so "quick buck" muna.

- We need a volatile pair for this kaya GBP/JPY pinili ko. I think pwede rin EUR/JPY pero haven't tried it yet.
- "simultaneously" open 1 buy and 1 sell positions.
- set it with 5pips TP
- and 300pips SL. or the 2nd resistance/support level from the current price. Which ever is smaller.. use it.

That's it. and for more advance:
- When the current trend is up. Start with a sell position first before the buy position. Vice-versa for down trending.
- 1 hour prior any major news announcement, Don't open any positions.
- If price is trending near the end of a triangular wedge. Don't trade and wait for the breakout before entering.
- One position will surely closed in a profit first. And the remaining open position, if it is against the current trend direction. This is where the self-discretionary coming in. You might want to cut loss or just leave it as it is. Sometimes, i will takes hours and even days bago mag close in profit yung last position. But, most of the time, a few minutes lang.
- After a set of trade. Wait for a perfect time again bago pumasok.

This will be great kung gagamitan ng script or EA, Para di mahirap mag-open ng 2 positions na magkasunod.

Worst case scenario:
 If 300pips SL is hit. You lose $267.9 for 1 lot position on a mini account. Kaya $267.9, kasi GBP/JPY 1pip move is $0.94, times 300pips SL, minus 10pips spread, minus the 5pips gain of the opposite trade. That's why I said POOR money management.

 Kaya adjust your lot size accordingly. My suggestion would be, for every 10k account, use 1 mini lot on both buy and sell positions. For 5k account, use 0.5 mini lot.

Ok, just like any other strategies, may losing trade din ito and loss might be greater than your gains if you're not careful picking trades. Demo trade it first and trade at your own risk. Good luck.
« Last Edit: Feb 06, 2008, 09:22 AM by sam_1_els »


peterp

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Lightwind_99

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Very Risky...poor money management is a big problem...


peterp

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sorry now ko lang nabasa in full ng matino yung stategy.  IDOL kse mukhang trading strategy ni Robin Padilla 'to.  hehe. pero seriiously, it looks like it might work for ranging.


sam_1_els

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yea, poor money management is a big problem. But there are ways to counter it.

1. Cut losses if you must. example, if you gain $100 the past few days and you think something is not right, close mo yung position pag negative $80 na. And still, gain pa rin ng $20. Napansin ko lang, karamihan ng beginners ayaw nilang isoli yung profits nila.

2. You may also place more number of lots sa reverse direction to off-set the losing position and close it kahit breakeven. Discretion needed.

3. You may just open one side position kung alam mo talaga yung trend ng next higher timeframe. And just grab five 5pips from it.

Ginamit ko yung options 2 and 3 today. Post ko screenshots pag may time ako.

Yes, it works for ranging conditions. And the good thing is, if you zoom in gbp/jpy 5M timeframe, it is ranging.

Really not advisable for novice. Too risky. Not a set and forget type of strategy.  

 


sam_1_els

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as promised. Ito yung karugtong nung screenshots sa first post. Statement on first post ended Feb. 5 at 23:05 GMT. Yung screenshots sa baba, I highlight the Feb. 5 in blue to show a continuation from there. And the last position closed is dated Feb. 14, which is today. BTW, happy Valentine's sa lahat.



70 trades. 68 in profit and 2 loss.

I know it sounds stupid if you'll just open both long and short positions and just hope the volatility of GBP/JPY will swing 30pips within your positions, di ba? But the point is may posibility. And if may alam kayo sa basic like identifying trend, counting pips value, then the odds on winning will be higher.

By identifying trend, you can just go in one direction. And counting pips value, you can use a semi martingale approach if trend went against doon sa natitirang position. Just like what happend sa last few trades sa screenshot.

« Last Edit: Feb 14, 2008, 06:38 PM by sam_1_els »


ghiby

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« Last Edit: Feb 15, 2008, 02:24 AM by ghiby »


tutoy

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sana may screenshot din ng current open positions??


Mike QC

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Sam, thanks for sharing this nice strategy. I personally tinkered with it and grabbed some nice pips. It's indeed good but a very risky one and definitely not for everyone. Kelangan lang talaga nakatutok ka sa strategy na ito. I have to admit that it's not even for me as I am the type of person who refuse to be glued to the computer screen as I always make sure that I have more time to enjoy my life....my family hehe.  Anyway, try it guys for about 3 or more months and see if you can be a consistent winner. We all very well know that we're always after the consistency in the long term with the least possible time spent on the computer and NOT just short term gains. Moderate the greed haha.  
« Last Edit: Feb 18, 2008, 10:28 PM by Mike QC »


tutoy

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when the withrawal done?? :scratch:

i use this strategies also its pretty good, please favor to show the complete trading transactioned and i would like it to review tru backtest from the date you deposited up to current date in cluding the open position.

as far as i know the withdrawal transactiond appearead also on statement of account..siguro nalimutan m,o lang. :hihi:


suredollars

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moderate the greed??? mukahng kilala ko yun ah?  :hihi:
by the way, may ask if anong "platform" ( tama ba yun spelling at yun term) na gmit nyo ksi sa akin puro practice accoutns lng pro ok naman, fxcm at marketiva, any other suggestion n pwede ko malaman.. tnks..


suredollars

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bigcheese

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sir sam_1_els,

Baka  po pwede malaman ano platform na gamit nyo?
I've used this strategy in my Marketiva live account, got 24 straight winning trades.
However, Marketiva only allows minimum of 7 target TP and SL. Mas easier to reach the targets sana kung mai-set sa 5 ang TP....thanks :)


Lightwind_99

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anghelita

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i think ganito rin strategy ko.. heheh as long as lumampas ng 8 pips i wait a while kung patuloy pa sha in my direction, and right before i close kuha muna ako for the opposite direction and so far okay naman.. it works for me on marketiva, as long as i follow their rules about short term trading, okay naman. and it really works best pag nakatutok ka talaga parati like Mike QC said..

i downloaded mt4 para makapagpraktis sana, kaya lang i still don't understand it...  :hihi:



 


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