We all know a 100% winning holy grail system is very unlikely to come across, unless your aiming for a very small amount of pips with a huge stoploss that can withstand months even years of the target to get hit.
So I want to start of by explaining that this is not a 100% profitable system, but 89% of the days traded over a 3 month period produced positive pips.
The average daily pips profit including losses was (31pips a day).
With this averaging me pip profits each day, its my closest strategy to a holy grail. So why not share it!!
THE STRATEGY
This system is based of a really simple breakout concept thats broken down into 3 times a day to set buy/sell orders. this can produce anywhere from 2-6 open positions depending on market volatility, ranges or trending days.
Example of this powerfull range breakout strategy on the DE30 (DAX)
1.We identify a range based over a set of hours each day or 1x1h candle.
2.Set buy and sell orders at the top of each range
3. TP is always 20 pips, SL is always 50 pips
4. Set an opposite order at the bottom of our 50 pips SL (only if order is opened) this is to recover our loss.
5. The recovery TP is always 50 pips with SL 50 pips
6. Close all positions when next orders are set
PART 1+2/3
Market: DE30 (DAX)
Range 1: 1:00-9:00(GMT+1)
Range 2: 12:00-13:00(GMT+1)
Range 1: Once we have identified our high and low during 1:00-9:00(GMT+1), we will set a buy order at the top and a sell order at the bottom of the range.
In this example above we broke out of the range and TP was cleared (we could have taken more profit but we are trying to only target 20pips each trade for consistency)
Range 2: This range is the high and low of the 12h candle, again we repeat the above process. Buy order at top and sell order at bottom. TP always 20 pips
This time we do not place a recovery trade if out SL is hit, its very rare that the 12h candle is larger that 50 pips so we just set our SL to the high/low and let the opposite trade open to recover 20 pips towards any losses.
Recovery positions if SL is hit: all trades during this range have a 50 Pip SL, once an order is opened we set an opposite position where our SL for the current open trade is. The TP this time is 50pips with a 50pip SL. This recovers any losses from the previous trade. YES!! there will be days when we lose both trades and end up with a 100 pip loss (this is very rare, as explained earlier 89% of days end with profit and with these losses taken into account we still average a +30 pip a day)
Attached images above show a recovered position and a red day where all positions end with a loss (But we accept that, this is trading after all!!)
Sometimes we get a recovery positions that wins us the 50pips that we lost then opens the breakout position for 20 pips, leaving is +20 for the first slot of trades.
PART 3/3
Market: NAS100 (NASDAQ)
Range 3: 8:00-15:00(GMT+1)
Range 3: This is a identical copy of the DE30 range 1 trades. Identified our high and low during 8:00-15:00(GMT+1), we will set a buy order at the top and a sell order at the bottom of the range.
Recovery positions if SL is hit: (Repeat range 1 recovery plan) all trades during this range have a 50 Pip SL, once an order is opened we set an opposite position where our SL for the current open trade is. The TP this time is 50pips with a 50pip SL. This recovers any losses from the previous trade.
Of course there are going to be manual adjustments which are learnt as you trade a system, just one example is if we don't have a position open during the 1st range and one opens during the 2nd range breakout where the TP is in the middle of where the 1st range breakout TP would be, we could always extend the open positions TP to match the 1st positions
I hope you all enjoy this post as much as I have trading it, its the first system that i have a lot of faith in.
My favourite part about it is the simplicity, you don't need to watch the screen for hours on end.
1.Set an alarm on your phone 10 minutes before range hours close, draw your range from high and lows, set orders.
2.Wait for an alert then one has been opened.
3.Place recovery trade if its during ranges 1 or 3.
4.Enjoy your day, get of with your life and leave the market to do the rest.
Thanks, RenkoBuddy
So I want to start of by explaining that this is not a 100% profitable system, but 89% of the days traded over a 3 month period produced positive pips.
The average daily pips profit including losses was (31pips a day).
With this averaging me pip profits each day, its my closest strategy to a holy grail. So why not share it!!
THE STRATEGY
This system is based of a really simple breakout concept thats broken down into 3 times a day to set buy/sell orders. this can produce anywhere from 2-6 open positions depending on market volatility, ranges or trending days.
Example of this powerfull range breakout strategy on the DE30 (DAX)
1.We identify a range based over a set of hours each day or 1x1h candle.
2.Set buy and sell orders at the top of each range
3. TP is always 20 pips, SL is always 50 pips
4. Set an opposite order at the bottom of our 50 pips SL (only if order is opened) this is to recover our loss.
5. The recovery TP is always 50 pips with SL 50 pips
6. Close all positions when next orders are set
PART 1+2/3
Market: DE30 (DAX)
Range 1: 1:00-9:00(GMT+1)
Range 2: 12:00-13:00(GMT+1)
Attached Image
In this example above we broke out of the range and TP was cleared (we could have taken more profit but we are trying to only target 20pips each trade for consistency)
Range 2: This range is the high and low of the 12h candle, again we repeat the above process. Buy order at top and sell order at bottom. TP always 20 pips
This time we do not place a recovery trade if out SL is hit, its very rare that the 12h candle is larger that 50 pips so we just set our SL to the high/low and let the opposite trade open to recover 20 pips towards any losses.
Attached Image
Attached Image
Recovery positions if SL is hit: all trades during this range have a 50 Pip SL, once an order is opened we set an opposite position where our SL for the current open trade is. The TP this time is 50pips with a 50pip SL. This recovers any losses from the previous trade. YES!! there will be days when we lose both trades and end up with a 100 pip loss (this is very rare, as explained earlier 89% of days end with profit and with these losses taken into account we still average a +30 pip a day)
Attached images above show a recovered position and a red day where all positions end with a loss (But we accept that, this is trading after all!!)
Sometimes we get a recovery positions that wins us the 50pips that we lost then opens the breakout position for 20 pips, leaving is +20 for the first slot of trades.
PART 3/3
Market: NAS100 (NASDAQ)
Range 3: 8:00-15:00(GMT+1)
Attached Image
Range 3: This is a identical copy of the DE30 range 1 trades. Identified our high and low during 8:00-15:00(GMT+1), we will set a buy order at the top and a sell order at the bottom of the range.
Recovery positions if SL is hit: (Repeat range 1 recovery plan) all trades during this range have a 50 Pip SL, once an order is opened we set an opposite position where our SL for the current open trade is. The TP this time is 50pips with a 50pip SL. This recovers any losses from the previous trade.
Of course there are going to be manual adjustments which are learnt as you trade a system, just one example is if we don't have a position open during the 1st range and one opens during the 2nd range breakout where the TP is in the middle of where the 1st range breakout TP would be, we could always extend the open positions TP to match the 1st positions
I hope you all enjoy this post as much as I have trading it, its the first system that i have a lot of faith in.
My favourite part about it is the simplicity, you don't need to watch the screen for hours on end.
1.Set an alarm on your phone 10 minutes before range hours close, draw your range from high and lows, set orders.
2.Wait for an alert then one has been opened.
3.Place recovery trade if its during ranges 1 or 3.
4.Enjoy your day, get of with your life and leave the market to do the rest.
Thanks, RenkoBuddy