is this a ridiculous idea ? maybe im losing my mind !
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Thread: is this a ridiculous idea ? maybe im losing my mind !

  1. #1
    I have thought of the all of a sudden but it seems so simple that I do not think that it'll work....

    1) at close of this day, if your pair is trading up/down particularly in the last hour, then place limit/market order to gain 5 pips from that way.

    Two ) place big money on these 5 pips because no time to place orders for numerous pairs

    3) I believe aiming for just 5 pips must be fine without stoploss? Or maybe SL in your discretion.

    4) maybe place buy and sell orders to gain 10 pips?

    So the notion is for market to move just a little bit on your favour. Or am I just mad...:

  2. #2
    Quote Originally Posted by ;
    I have thought of this all of a sudden but it seems so simple that I do not think it'll work....

    1) at closing of the day, if your pair is trading up/down particularly in the past hour, then place limit/market order to gain 5 pips in that way.

    Two ) place big money on these 5 pips because no time to place orders for numerous pairs

    3) I think aiming for just 5 pips must be fine without stoploss? Or maybe SL at your discretion.

    4) perhaps place buy and sell orders to gain 10 pips?

    So the idea is for market to move just a little bit in your favor. Or am I just crazy...:
    I did not get it - what difference does the close of the day time make at all?

    You seem to hunt for 5-10 pips, why is it that you think that it ought to be any simpler at closing of the day?

  3. #3
    I dont believe that's a fantastic idea findcount. You could be setting yourself up to fail. If the spread of your broker is 3 pips for the pair u are trading, then you'll need the market to maneuver 8 pips just to earn 5. There will inevitably come a time when you move against you may seriously harm, although it may work for a while. A stop would imply that your win ratio needs to be high to break . It can be better to utilize a scalping egy if you would like to trade time frames. Just my 2 pips. .

    Pete

  4. #4
    Quote Originally Posted by ;
    I didn't get it - what difference does the finish of the day time make in any respect?

    You look to hunt for 5-10 pips, why do you think it ought to be any easier at closing of this day?
    I guess the open of this european or even london session might perform too....

    I'm with Oanda so can't buy and sell exactly the same currency pair....

    I think it might use volatile pairs such as gbp/usd and gbp/jpy but not as volatile pairs such as eur/chf might work too with a spread of just 1 pip...

  5. #5
    Crazy Thought, Will Not work...

    Some Man had a similar Thought (in spirit), it ended in tears:

    https://forexintuitive.com/discussio...tops-hurt.html

    https://forexintuitive.com/discussio...pivot-egy.html

    Best of Fortune

  6. #6
    Quote Originally Posted by ;
    I guess that the open of this european or even london session might do too....

    I'm using Oanda so can't buy and sell the identical currency pair....

    I believe that it might use volatile pairs such as gbp/usd and gbp/jpy but not as volatile pairs such as eur/chf might work too using a spread of just 1 pip....
    If you want to buy and sell the exact same pair you may need to start a sub account with oanda. . .buy in 1 acct. And sell in another acct.
    However what you are suggesting in your very first article isn't a practicle strtegy...

  7. #7
    Quote Originally Posted by ;
    if you would like to buy and sell exactly the same pair you would need to open a sub account with oanda. . .buy in 1 acct. And market in another acct.
    However what you're suggesting in your very first post is not a practicle strtegy....
    That is true, you can create one or more sub account with Oanda. I have not read if this is allowed by them from or Conditions Conditions and'm not sure but I am pretty sure not? I guess that's one reason why they have choice to create sub account(s), I have not never had one although. Just demo trading.

  8. #8
    Quote Originally Posted by ;
    I've thought of this all of a sudden but it seems so simple that I do not think it'll work....

    1) at close of the afternoon, if your pair is trading up/down especially in the past hour, then place limit/market order to gain 5 pips from that way.

    Two ) place big cash on those 5 pips since no opportunity to place orders for multiple pairs

    3) I believe aiming for just 5 pips must be okay without stoploss? Or maybe SL at your discretion.

    4) perhaps place buy and sell orders to gain 10 pips?

    So the idea is for market to move just a tiny bit in your favour. Or am I just crazy...:
    You are talking about building a scalp in a sideway market. There's nothing new in it. But you have to know it is tough to do. I am doing it a few times a day while I monitor my position that is huge. I can give you references and a bit of floor rolls, if you are wont.

  9. #9
    Quote Originally Posted by ;
    I guess that the open of the european or even london session may do too....

    I'm with Oanda so can not buy and sell exactly the identical currency pair....

    I think that it may use volatile pairs such as gbp/usd and gbp/jpy but not as volatile pairs such as eur/chf may work too with a spread of just 1 pip....
    Click on the account tab, scroll right down to create sub account

    now you can trade long on primary, and short on the sub.

  10. #10
    Quote Originally Posted by ;
    If the spread of your broker is 3 pips to the pair u are trading, you'll need the market to maneuver 8 pips simply to make 5.
    Pete
    This announcement Is Quite TRUE. Think of it as of costs. Paying 3 pips to obtain 5 is too much, especially when I see you writing about not using SL. If the market moves 12 pips in one minute AGAINST you? What then? I´m not trying to dissuade you, cause at the end of the day it is YOU who decide, but consider it twice. Major money on 5 pips rather than utilizing SL...

    Happy Trading

    Bluefish

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