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#1 17-10-2020 20:38:05
- AK
- Member
- Registered: 17-10-2020
- Posts: 5
Sure Fire Strategy - does this works on Indices?
hi, I am impressed by your initial sure fire strategy and being a newbie quite excited about it! Also, in my opinion the only time the strategy can fail is when the market is in a range for a considerable amount of time? So please kindly can you answer the following for me:
Q1) The strategy can work on Indices like wall street? where you open with 0.5 lot size and then increase the next trade (in opposite direction & 30 pips lower than opening price) with 1.5 lot size and then repeat with 3 lot size , 6 lot size etc.
Q2) It is a water tight strategy for something as volatile as Indices where all we need if a 90 pip movement which is not very uncommon. In worst case scenario one may have to open 4/5th position may be 6th?
Q3) if this is a "every time win" strategy then is there a catch (apart from market being range bound)?
manythanks in advance
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#2 Yesterday 14:00:00
- johnedward
- Admin & Trader
- From: Paris - France
- Registered: 21-12-2009
- Posts: 2910
- Website
Re: Sure Fire Strategy - does this works on Indices?
True, the strategy can indeed fail in a ranging market.
However, I don't think this strategy is a good one for indices. I know that the DAX, for example, frequently exhibits gaps between the open and close, so gaps can be deadly here.
My advice would be to just practice this strategy in demo mode on a few pairs until you get comfortable with it. And stay out of the market if it's ranging, sometimes the best thing to do is nothing ;-)
"Anything worth having is worth going for - all the way." - J.R. Ewing
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#3 Yesterday 15:27:01
- AK
- Member
- Registered: 17-10-2020
- Posts: 5
Re: Sure Fire Strategy - does this works on Indices?
johnedward, many thanks for replying.
i will practice in demo as you recommend with EUR/USD and USD/CHF. would you agree with that idea?
Also, is there a strategy out there for trading indicies?
thanks again
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#4 Yesterday 18:04:49
- dadsudr
- Member
- Registered: 19-10-2020
- Posts: 1
Re: Sure Fire Strategy - does this works on Indices?
Hi Guys,
I found this strategy is also working very well on indices.
I usually trade USTEC (NASDAQ) where Icmarkets gives me spreads between 20-25 pips on Asian and London market, and 10-15 on New York market. I scalp 1 minute chart with TP|SL is 100|200 pips during Asian, London 150|300, and New York 200-250|400-500 pips. Also I use 200 periods of HMA to measure the trend strength.
Here how it goes, https://www.myfxbook.com/members/dadsudr/surefire/7378621.
Anyway thanks for sharing this strategy John! Found it last week and so far looks promising. Will keep testing it before I use it on real account.
Cheers.
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#5 Yesterday 18:42:09
- AK
- Member
- Registered: 17-10-2020
- Posts: 5
Re: Sure Fire Strategy - does this works on Indices?
cheers dadsudr
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#6 Today 09:50:02
- AK
- Member
- Registered: 17-10-2020
- Posts: 5
Re: Sure Fire Strategy - does this works on Indices?
hi, i have been testing this with 15/30/15 configuration i.e. TP15 SL30 Hedging distance 15. It is giving consistent results but if it keeps missing TP and you have 4 positions open , it can get scary! Therefore i have been trying to see what is the worst case scenario if we stop hedging after subsequent positions and here is my findings on a 1/3/6/12 lot sizes.
If you do not Hedge:
Maximum Loss after trade 2
-75 EUR
Maximum Loss after trade 3
-165 EUR
Maximum Loss after trade 4
-345 EUR
would you agree?
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