48# 10 pips after open
10 pipis trading system
Submit by Marco (Written by K.Dittaman)
There is only one trade per day
Daily Profit Potential:
Option I - 10 pips
Option II – 10 to 100 pips (10 pips is recommended).
The system will work on many Forex pairs and for many major
stocks. The rules to this Trading system are simple, and executing and
managing trades will take no more than five minutes of your time.
Let me introduce you to the four simple steps below. Then I’ll take
you through some actual examples in order to illustrate just how
easy this system is. It uses pure mathematical calculations that
even a child can do.
This trading system involves 4 simple steps:
- Identify entry order levels
- Calculate stop loss and take profit levels
- Place 1 buy stop and 1 sell stop orders
- Wake up in the morning and enjoy 10+ pips profit
This is a very simple and proven to be profitable manual “set and
forget” trading system. You will have to place orders every day at the
same time. Once you place your orders – you don’t have to watch
the market or manage your trades. This is completely an autopilot
system. The system uses smart money management and profit
targets and gives you the opportunity to make 10+ pips.
We are taking advantage of the Forex time based repeated secret
“Forex secret hour”.. Keep reading and I will explain everything
step by step.
HOW IT WORKS
In order to use this set and forget trading system you will need to set:
1 buy stop order with a stop loss and a take profit
and 1 sell stop order with a stop loss and a take profit
and then you may go to sleep – everything will be done
automatically – usually in 1 to 4 hours.
1. Open a 1 hour chart at 1:59 EST (GMT-5) and identify the high
and low of the 1:00-2:00 EST bar, see the example below:
In the pictures 10 pips after open forex system in action.
The trading system works on the principle that once a breakout occurs,
the price is most likely to go strongly in the direction of the
breakout due to the market daily activity after 2:00AM EST (check
your history chart – notice the big moves that happen daily exactly
after 2AM EST) and the sudden surge of market orders and other
entry orders piled up at these levels.
Determine the 1:00-2:00AM EST bar high and low:
In our case high = 1.3785 and low = 1.3755 (30 pips bar=Z)
3. Setting up your orders.
Calculate your orders:
The formula is very simple
1:00-2:00AM bar high/low difference = Z
In our case high = 30 pips = Z
BUY order example:
Place a BUY STOP order at “1:00-2:00AM EST bar HIGH + Z”
In our case the BUY STOP order is 1.3785 + 30 = 1.3815
A stop loss order should be placed at the 1:00-2:00AM EST bar
HIGH. In our case the Stop Loss = 1.3785
Take Profit: (for a buy order)
Option I ( profit 10 pips )
Take profit for a BUY order should be placed at your entry +10
pips. In our case 1.3815 + 10 = 1.3825
Option II ( profit 10 - 100 pips )
(Option II is recommended for traders with trading experience, I
still recommend Option I – 10 pips)
Use a trailing stop = 10-20 pips to maximize your profit. In most
cases you will make 50-100 pips profit in a strong market.
When you catch a true breakout, however, you could very well
gain 50 or even 100 pips. When this happens your trailing stop will
let the trade continue to run at no risk with your profits "locked
in." Option II is more profitable than Option I (if you are lucking and
your trailing stop is not triggered early..)
The rule for the SELL order is the opposite of the the buy order:
Place a SELL STOP order at the “1:00-2:00AM EST bar LOW - Z”
In our case the SELL STOP order 1.3755 - 30 = 1.3725
A Stop loss order should be placed at the 1:00-2:00AM EST bar
LOW. In our example the Stop Loss = 1.3755
Take Profit: (for a sell order)
Option I (profit 10 pips)
Take profit for a SELL order should be placed at the entry - 10
pips. In our case 1.3725 - 10 = 1.3715
Option II ( profit 10 - 100 pips )
Use a trailing stop = 10-20 pips to maximize your profit ( as
explained for a buy order )
The price may and (usually it does!) travel much further but this is
a very easy way to make consistent profits - almost every day
when you get a trading signal.
The major key of this system is the “Z” value that will minimize
most false signals (breakouts) and make your trading very safe.
If your broker lets you use OCO orders ( one cancel the other -
use this function: If one order triggers set the OCO to automatically
cancel the other order). If you don’t know how to do it, just ignore
Usually one of the orders triggers within 1-4 hours after 2:00AM
Cancel all orders if not triggered within 5-8 hours.
Here is a short trade step by step:
1:00-2:00AM EST bar:
BUY STOP order:
Stop loss 1.3981
Take Profit: option I = 1.4016 ; option II = trailing stop 10 pips
SELL STOP order:
Stop loss 1.3956
Take Profit: option I = 1.3921 ; option II = trailing stop 10 pips
- Cancel all orders in 5-8 hours (if not triggered). On the next day
just calculate and place orders on new levels.
- Use Option I to take consistent profit – 10 pips profit.
- Recommended Pairs: EUR/USD (preferred) USD/CHF
- Not recommended pairs: GBP/JPY, EURJPY
Do not trade when the “Z” value is too large – example
40 pips or more:
Example when not to trade
Share your opinion, can help everyone to understand the forex strategy.