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Tactical Trading-Advanced System #1: Midnight setup



Advanced System #1: Midnight setup

This System is based on the fact that you rarely find 02 consecutive days with the candle in size on daily chart.
This system builds on the GBP / USD 2007, these parameters should be changed on the currency and volatility attribute of whichever currency pairs.
  • Pair: GBP / USD or any corn
  • Time frame: 1 day
  • Tools: unused
Principle: 
This System is based on the fact that you rarely find 02 consecutive days with the candle in size on daily chart. 


Open trade principles:

  • At 00:00 on the trading time your platform, the daily candle appeared, determine the highest and lowest price of the day before.
  • If distance highest price and the lowest of the day less than 90 pips does not open the next trading day. (This is an opportunity for the GBP / USD, this condition may be adjusted for other currency pairs).
  • If the price of the previous day was an "Inside bar" you need to be careful when opening the next trading day. Because candle shape "inside bar" is a good sign for the next breakout in the 02 days that direction, and this is not a good thing for this system.
  • If you decide to open trading on the next day they put "Buy Stop order" on the highest price of the day before + 5 pips and "Sell stop order" below the lowest price of the previous day - 5 pips.
  • Set stop loss for trading under the lowest Long of days ago - 3 pips and traded on the highest Short of days ago + 3 pips.
  • Value added pips for stop loss orders and can adjust when you grasp the volatility attribute of the selected currency pair.

Principle closed transaction:
  • When the transaction is open, it stays until the end of the day, every day when adjusted for transaction based stop loss under new candle; keep trading until it could reach 100 pips to close the transaction for profit.
  • Another method is that you can open the 02 transactions, the first transaction is closed when a profit of 100 pips, trading and 2nd will to come when you decide to play (or can use trailing stop) .
  • Close of the transaction is open (whether profit or loss), if that day's candle become Doji form or nearly a doji (ie opening price near closing price).
  • You also closed the transaction if met Shooting Star format in an uptrend or downtrend Hammer in.

Consider the following example:
 
We will start from the first candle is the candle circled.
  1. First Candle: (high - low 90 pips) allow open transactions in the next day so put the order.
  2. Candle 2: The price does not surpass the highest and lowest price of the first candle so there are no open transactions. End date: 2nd candle than 90 pips volatility should we adjust order according to the 2nd candle candle 2nd Because the format bar Inside so if you decide to trade the risk will be higher.
  3. Candle 3: Transaction dragon opened. End Date: transactions are holes without hitting stop loss, we keep trading and adjusting stop loss below the lowest price of the candle is 3rd - 3 pips. 3rd Candle volatility less than 90 pips up the next day will not only keep order additional transactions are.
  4. Candle 4: While trading profit reached the desired exit.
  5. Candle 5th: no transaction when price is not beyond the range of the candle the day before. End Date: 5th candle less than 90 pips and is therefore not order Inside bar the next day.
  6. Candle 6: we are not dealing, if put order under this system can even order 02 are open and closed by stop loss. Last day we will reassess the graph and decide for the next day.
  7. Candle 7th: Long order and stop loss placed below the lowest price of the candle 6th, this transaction gives us over 150 pips. End date: Book orders for the next day.
You can easily determine if your benefit is determined the average volatility of currency pairs. Profit levels around half the average level of volatility. Examples:
  • GBP / USD The average volatility is 180-200 pips
  • EUR / USD average volatility is 110-120 pips
  • USD / JPY volatility average 80-90 pips
  • USD / CHF The average volatility is 120-130 pips
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