My friend told me that he has been trading USD/JPY for years and have found a profitable system. This system work for this pair which have a swing characteristic. So, he told that this system just have a few simple condition without using any indicators.
The system is
1. for the first time, we open two position : buy n sell at a same price with a specifit target to take profit
2. if price goes to the direction of one of our order and hit our target, we open the same action to buy and sell again at this new price
3. there will be 2 posibilities when we already reach this condition
a. price will go to the same direction like previous one, and same order that will be hit like the one that already closed for target. so we will open a same action, buy n sell again
b. price will go to the opposite direction of previous one, so this one we will do a different action. Just to remember, we already have a position that is floating loss that we opened in step 1. So, we won't open again this time.
4. thats it... it is simple guys...
the concept of this system is over than 70% of trading time is sideways. so we will catch the profit from there.
i open mind for any ideas to make this system perfectly... but need ur help to realize this system into an EA.
cheers,
Ryan