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I've been trading this system since February this year (so 8 months), it started out well then slowed to a nice confident steady pace.
I grew so much confidence, I religiously put the trades on each day as prescribed, then walked away to let it do its thing.
The only trouble is the draw down, currently my drawdown means I'm now lower in my account than when I started. Yes that's right, 8 months later I'm lower, it's started to slowing pick up again, but its got me thinking over the trades that got me to this point, I'm now not sure I agree risk the system puts you in each day. I mean a 1:1 risk, but some days you can lose twice as much as your risk and when that happens several times in a row I've now experienced nearly 13 in a row bang goes your account. This is what happened recently and I'm not confident it won't happen again, so I'm paper trading it until I can find something to keep me out of these areas.
Good in practice when you take a snapshot of the system running between the drawdown's, but overall not a good system at all. I've seen better systems of similar (1 trade per day) styles.
Both the basic system and the recently released EA are excellent.
I have putchased and tested more than 50 EA's. The DailyEA has performe best, over one year, though the Drawdown is on the high side..
It should be noted, however, that optimising the parameters made a significant difference. The best parameters were 5 and 5 for the start time and period. This is best for the most active London market on GBP/USD.
Also setting the (Stop at latest high/low) to False and no trailing stop, could result in significant improvements.
I highly recommend this system and rate it as excellent, with 5 Stars.
Many thanks to the developers.
2010-01-29 06:44 5 Stars Much to my surprise, this system performed well. I have over 25 years experience in Technical Analysis, and I am familiar with many popular trading systems in the market. I was astonished when I tested this system for several weeks and compared its performance with five other leading systems. This system has come first, and outperformed others by a significant margin.
I shoud say , however, that the system performed best with the GBPUSD currency pair. I also had to alter the time parameters recommended by obseving the chart behaviour over a few days.
Well, congratulation to the developers for producing an excellent system which is based on a simple concept. I rate this system as excellent without any doubt.
1 Minute Daily
1 Minute Daily Forex Trading Strategy
What it's about:
Review update: I have stopped trading this strategy. It did pretty well in the beginning but then I started losing. I will leave it for a while and then start trading with it a bit later.
It's a forex trading strategy based on breakouts when the London session opens. It's easy to learn and setup. The creators of the system also created an Expert Adviser or EA that you can load on the Metatrader 4 platform and the strategy will be traded automatically.
I would advise you to first test the EA on a demo account for a month or two before going live. If you're not familiar with forex trading then I suggest you first do a course or two on the subject. There are excellent free resources on the web like babypips.com. They offer a very cool trading course on forex which takes you from beginner to actually knowing something about forex trading. I highly recommend them and it's free!.
I trade the 1 minute daily strategy live and I use the EA. Sometimes I win sometimes I loose. That's just the way forex trading is.
It includes the following:
- Strategy that's easy to learn.
- Comes with documentation that explains the system in detail.
- Place your trades at specific times each day and it only takes 1 minute.
- Comes with an EA that will automatically place the trades for you.
What I like:
The system is easy to learn. The documentation that comes with the strategy is clear and easy to read. After you install the indicator you just wait for a specific time and place your orders. The strategy also tells you exactly where to put your stop loss and take profit entries.
I also like the EA. If you don't have time to trade during the day, you simply load the EA and it trades for you. Well, all most. The EA comes with an eBook that tells you how to optimize the EA for best results. Use this information and like with any forex strategy or EA, demo trade until you are comfortable with the results before you go live. They also give you back test data on how well the strategy performed in the past.
What I don't like:
I have to make one thing very clear !
This not a perfect system. There will be times when this strategy will loose you money. It's a fact. This strategy will sometimes give you a draw down of 30%. Be warned. Forex trading is not for everyone. Trading live money on the forex market can be very stressful. I have learnt this the hard way. If you are new to forex trading, rather have a look at my other online money making ventures before you look at this strategy or forex trading.
I got a bit lost when setting up the EA. There are a lot of parameters that confused me in the beginning but after I spent some time reading the manual, that came with the EA, things got more clearer. The cool thing about all the parameters is the fact that you can optimize just about anything you want.
Whether it's the start time or lots or stop loss. I can go on and on. Anyway, just be careful, there are a lot off parameters.
Where can I get it:
Click HERE or click any of the banners on this page. It will take you straight to the website.
1 minute daily system
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Forex 1 Minute Scalping Strategy
Best Forex trading strategies can be called a mystery to solve for beginners. If you are looking to perform a trading activity on a real-time basis, do not hesitate to use the Scalping Strategy. Scroll down to learn more about Forex 1 Minute Scalping Strategy.
First things first, Forex scalping is a trading strategy that is basically built in a bid and ask system on a short-range base. When used properly, Forex 1 Minute Scalping Strategy becomes a powerful resource to keep track of the entry and exit points, and indicators in the blink of an eye. There are no specific requirements other than dealing with brokers with the smallest spreads and commissions and some available time to spend in front of the screen.
Forex 1 Minute Scalping Strategy is considered to be a quite effective and fast tool for starters, as it does not involve large margins or a huge investment. But, on what matters does this trading strategy hold? On the one hand, you have to spend a lot of time on your computer. On the other, you need to master the use of small spreads and commissions.
Learn how to effectively trade on a daily basis, even if you are a beginner in Forex trading. Incorporate key strategies to your Forex trading plan doing over 100 trades within a day, and learn how to maximize your time and efforts making the biggest impact possible when trading at a microeconomic level. Below you will find some recommendations in order to ensure that you comply with the necessary specifications and parameters.
Using Forex 1 Minute Scalping Strategy
You are able to work with the currency pair of your choice, but we recommend you to choose the one with the lowest spreads. We also recommend you to set up your terminal with indicators such as 100 EMA, 50 EMA and Stochastic (5, 3, 3) while looking for High volatility, London, New York sessions and the like.
To enter a buy long order it is important to play safe, so we recommend you to use the Stochastic Oscillator below the 20 level. With regard to the entry point, it is important to wait until the price comes back to the EMAs, starting with the 50 EMA which should be placed above the 100 EMA. Remember that you are performing a short-term strategy, so you are expected to gain at least 8-12 pips on a trade. The ideal would be to put the take profits around 8-12 pips from the entry price, and the stop-loss around 2-3 pips below the last swing.
To enter a sell short order, follow the same procedure, but it in the other way around. That is to say, the Stochastic Oscillator should be above the 80 level. Again, it is important to wait until the price comes back to the EMAs, the 50 EMA is now placed below the 100 EMA, yet the average of the TP remains around 8-12 pips from the entry price, as the SL are 2-3 pips below the last swing.
Forex Scalping Strategy Requirements
- Spend at least a couple of hours in front of the computer every day.
- Choose a broker offering ultra-low spreads and commissions. STP or an ECN Broker.
- The ability to perform a great execution.
- An accurate setup of time frames and indicators.
It is also possible to implement 1-minute Forex scalping strategy with Dealing Desk Broker.
Minute Forex Scalping Strategy Conclusion
Despite its name, 1 Minute Forex Scalping requires spending long hours in trading. However, that is what it takes to make a champion day trade. By selling and buying around 2-3 pips, and making a profit from small price gaps, you will be able to trade in larger volumes. Forex 1 Minute Scalping makes it so effective and fast to start Forex trading, that most beginners will be hooked to this strategy.
What is next? Pick up suitable Forex Bonus For Pro Traders and start scalping today!
If you feel like you need some practice or are not sure that this strategy will work, you can take one of the no deposit bonuses and test the strategy directly in the field.
Also, remember that in order to be a good trader, you do not have to be a scalper. Luckily, there are different FX trading techniques that can be used. If scalping does not seem to fit your trading style, you can always browse through our Forex Tips category and find something that fits you. Furthermore, this category has tips about the latest bonuses and tell you how to pick the best one for yourself.