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Forex Discussions
Trading Systems and Strategies
Sunday Open Strategy
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[QUOTE="lgnl, post: 85704, member: 34718"] Hi all. Here's the plan. If you haven't noticed at the Sunday open on EVERY currency pair, price almost always moves in one direction without ever going the other way. For example, if on the EUR/USD the Friday close was 1.1050, price will almost always (about 85-90% of the time) move up or down WITHOUT going both ways. Because of this, you can set your stop loss at .1 pips which is EXTREMELY small. Also, you close out your position after one candlestick has been formed on the 15 minute chart, so 15 minutes after the Sunday open. Average moves in those 15 minutes are about 10 or so pips, and as low as 4 and as high as about 80. Since the risk is so small, you can apply huge amounts of leverage. If you're not in the U.S., I'd say you should go as high as 500:1, since you will only be risking 1% of your account at that huge level of leverage. The key to this system is that these one directional moves ACTUALLY do happen a lot, just pull up a chart and see for yourself. However, there is one problem-spreads. Since at the Sunday open spreads can be so high that this strategy is essentially nullifed, one would have to find a forex broker that only charges commissions for a trade. If someone knows of such a thing, please tell me. If not, one would have to start their own Forex brokerage firm JUST for themselves (lol). But honestly, with the amount of money that can be earned from this it would be worth it. As a matter of fact, I am looking into it. Please respond with any suggestions you may have for such a plan. Thank you for your time guys. Logan [/QUOTE]
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