33# Set and Forget II Trading System

Submit by joy22 25/03/2012


Open Asian Session


2.) Use the high and low of the previous Day. For Mondays orders go back as far as 00:00 EST on Friday for high and low.

3.) Open a total of 4 PENDING orders (for each pair) including 2 BUY STOPS and 2 SELL STOPS that expire within 24hrs as follows:

Buy/Long Orders:
1 - Entry = HIGH+5pips, Take Profit=12pips, S/L=30pips
2 - Entry = HIGH+15pips, Take Profit=20pips, S/L=30pips

Sell/Short Orders:
i. #1 - Entry = LOW-5pips, Take Profit=12pips, S/L=30pips
ii. #2 - Entry = LOW-15pips, Take Profit=20pips, S/L=30pips

 

option with buffer 25 pips

The idea is to delay your entry until the direction of the day's price action is clearly established. In that regard we are going to wait until the price actually

breaks through yesterday's high or low by 25 pips then hitch our wagons to the day's remaining rise or fall.


If the price has broken yesterday's high and is rising, we'll open a long position. If the price has broken yesterday's low and is falling , we'll open a short position.


In the picture Set and Forget II forex system in action.

Stop loss 45 pips

 

Hi_Low_Indicator
Forex Indicator: Hi_Low_Indicator, applied at the daily bar.
Hi_Low_Indicator.rar
compressed file archive 696 Bytes

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