ten minutes pips snatcher

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    Ten Minutes Pips

    Snatcher

    Prepared by: Frank Lucas - Pips Pulling Machine Team

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    Hi, everyone and welcome to my second trading video.

    This is Frank Lucas from the Pips Pulling Machine Team here

    again to share with you more exciting Forex ideas and

    insights

    As I pledged in my last video, I will now provide you

    with a more in-depth understanding of the Forex Profit

    Harvester. I will also present extra live trading examples so

    that you will attain the maximum benefits from using it.

    In addition, I am also giving-away another free exciting

    trading strategy which will again help you capture large

    quantities of pips consistently. The Forex Profit Harvester

    operates best using the higher time frames but many traders

    want to have a methodology that is more hit andrun.

    They want to enter a trade, take profits and then wait

    for the next set up. I will explain to you my exciting strategy

    called the Ten Minute Pip Snatcher which operates on

    such a basis. Once you know how to get behind its controls,

    your Forex profits will sky-rocket.

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    (Much more about the Forex Profit Harvester)

    First, I would like to thank those of you who have sent

    messages and emails already about their trading successes

    with the Forex Profit Harvester. Such responses always boost

    my morale and convince me that we at the Pips Pulling

    Machine Team are moving in the correct direction.

    In the first video, I explained how to design a Forex

    trading strategy by utilizing a simple number of steps. During

    this process, I also listed the actual components that I

    selected when designing the Forex Profit Harvester. In

    particular, the successful and profitable design of the Forex

    Profit Harvester was constructed on the following important

    concepts:-

    1.Always trades in the direction of the current trend.2.Utilizes the power of the higher time frames.3.Targets realistic profits.4.Grows accounts uses compound interest.5.Uses a well-tested Risk and Management Strategy.

    Very impressive list you must admit. No wonder so

    many of you are already making profits. Now I would like to

    introduce you to additional benefits of the Forex Profit

    Harvester.

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    For instance, I always recommend that this strategy is

    best operated using the daily time-frame. This is because the

    higher time-frames generate superior quality statistics than

    those produced by their lower time-frame counterparts.

    However, the Forex Profit Harvester is still very effective

    with the hourly and 30 minute time frames as this chart

    demonstrates:

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    In this AUDUSD 30 min. chart, a SELL position was

    opened after price broke 20 pips below S1 and a subsequent

    profit registered after S2 was breached.

    You can use the Forex Profit Harvester to trade any

    currency pair. In fact, I trade many currency pairs

    concurrently even using different time-frames. This is a great

    feature because you can still experience significant action

    even though you are using the higher time frames.

    However, I have been asked Can I trade the Forex

    Profit Harvester if I have a busy day job? and What about

    when I am asleep?.

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    The answer is yes to both questions if you utilize Entry

    or Limit Orders which can automatically open positions when

    price hits predetermined values. You can invoke them by

    right-clicking your mouse button on your chosen trading

    chart.

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    (More Live Examples)

    Ok now Ill show you a few more live trade examples using

    Forex Profit Harvester.

    The first one uses the proprietary trading platform of a Forex

    Broker.

    This chart shows a Sell position traded on the NZDUSD

    Daily chart. The first important point to note is that EMA9 is

    lower than EMA50 implying that price is moving within a bear

    trend. As such, I am only looking for Sell opportunities.

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    Next, I located an alert signal by positioning it 20 pips

    below S1 by right-clicking my trading chart and completing

    the details shown in the following pop-up.

    Alternatively, you can activate an entry order as

    previously explained so that it will again be triggered 20 pips

    below S1. Whichever option you choose, we must now

    determine the position of our stop-loss so that we will only

    risk 2% of our entire account balance in accordance with our

    money management strategy. A good position for our stop-

    loss is 20 pips above the Pivot Level@ 0.7926. As our Sell

    position will activate after price hits the Alert @ 0.7826, the

    size of our stop-loss is 100 pips.

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    If we assume that we have an account balance of

    $10,000, then our maximum loss will be $200 if we risk just

    2%. This means that we can afford to trade at $2 per pip.

    Consequently, we can calculate our position size by using the

    following formula:

    Position size = (%risk X free_margin) / ((pip_value X stop_loss))

    Position size = (0.02 X $10,000) / ($2 X 100) = 1 lot

    So we can open a manual position of 1 lot size after our

    alert is triggered with a stop-loss positioned 100 pips above

    your entry point and a profit target alert at S2. Alternatively,

    we can use this information to instigate an Entry Order. So,

    how did I fare with this trade? The following chart shows that

    a good profit was made after price hit S2 the following day.

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    In the next example, I made another Sell on the

    EURUSD daily chart but using my MT4 trading platform this

    time. The following chart shows the trade details.

    As you can see on the above chart, a Sell position wasopened after price breached S1 by a further 20 pips. The

    trade was then exited with profit after price hit S2 the

    following day. The Lot size, stop-loss and profit-target were

    all calculated in the same way as the previous example.

    I would now like to show you how to evaluate the

    performance of your Forex trading strategies by using a

    small set of live test results produced by the Forex Profit

    Harvester. In particular, I will demonstrate how to calculate

    its win-to-loss ratio and expectancy value.

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    Symbol Lot Size Date Sold Bought P/L

    EURJPY 3,000 7/21/10111.1

    110.51 19.1

    EURJPY 1,000 7/22/10110.00

    110.82 -11.66

    EURUSD 3,000 7/27/101.3040

    1.3027 3.69

    AUDUSD 3,000 7/27/100.9085

    0.9068 4.95

    EURCHF 2,000 7/27/101.3814

    1.3793 4.11

    USDCAD 1,000 7/29/10 1.03081.0267

    3.99

    GBPUSD 1,000 7/29/101.5697

    1.5663 3.44

    USDJPY 1,000 7/29/10 86.8086.74

    0.77

    USDJPY 1,000 7/29/10 86.22 85.98 2.80

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    So we will use this formula:

    Win-to-loss ratio = (Number of wins/Total Number of Trades)*100

    Expectancy = (%Win X Avg_Win) - (%Loss X Avg_Loss)

    Where:

    % Win = percentage of trades that are winners

    % Loss = percentage of trades that are losers

    Avg_Win = average size of a win

    Avg_Loss = average size of a loss

    And we have

    Total number of trades is 10

    Total number of wins is 9

    Total number of losses is 1

    Total value of wins is $42.85

    Total value of losses is -$11.66

    Using these figures, the following parameters were determined:

    Avg_Win = $(42.85/9) = $4.76

    Avg_Loss = $(11.66/1) = $11.66

    Win-to-loss ratio = (9/1)*100 = 90%

    Expectancy = (0.90*$4.76) - (0.10*$11.66) = $(4.28 1.17) = $3.11

    Consequently, you can anticipate that the Forex Profit

    Harvester will produce a $3.11 profit for every dollar that

    you stake over the long haul.

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    What about rivals?

    Let us now compare how the Forex Profit Harvester

    stacks up against its competitors. One of the favorite claims

    that marketers make is that their new Forex systems can

    trade all market conditions whether they are trending or

    range-bound. No doubt you have presented by masses of

    impressive charts illustrating how their new wondrous

    technical indicators can detect tops and bottoms without any

    failures in sight.

    Let me share with you something vital that you are not

    being told. All Forex brokers use their own price feeds which

    are derived from their selection of banking sources. The

    technical indicators that are available on their trading

    platforms derive their values from these price feeds. As aconsequence this following concluding statement is very

    important: the readings produced by technical

    indicators are dependent on Broker platforms.

    Does it notstrike you as strange that none of these

    promoters advise you about this serious point? They should

    do because it can affect your trading results dramatically as

    this chart shows.

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    The technical indicator of one broker advises opening a

    BUY at point 1 with a stop-loss just below the blue line.

    However, another Brokers trading platform could advise

    doing the same but at a slightly later time as shown at point

    2. The stop-loss for the second case is now just below thegreen line. Look what happens. In the first case, the trade

    turns into a profitable win whereas in the second it gets

    stopped-out.

    This problem is the bane of all Forex robots and

    strategies being sold on the market at the moment. Why do

    their promoters not tell you about this? This is because most

    of them do not know about this problem and even if they did,

    they do not know how to solve it?

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    However, you will be pleased to know that you can

    operate the Forex Profit Harvester on any trading platform of

    your choice. This is because although the readings of its main

    technical indicators may have a variance between different

    Brokers, they are not large enough to affect its performance.

    Here is another problem that seriously affects the

    performances of most Forex tools. Their designers usually

    optimize the performances of their inventions to particular

    marketing conditions only. Their products are then able to

    produce excellent diagrammatical results which are

    subsequently marketed onto you. However, Forex market

    conditions can alter dramatically without warning. For

    example, the normal drivers generating the price patterns on

    the EURUSD trading charts are the decisions of the USA and

    European governments together with the comparable

    performances of their economics.

    However, all this has changed lately as USA recessionary

    fears and European debt contagion have caused increasing

    levels of fear and uncertainty to become the new drivers.

    This means that all Forex devices that were optimized to the

    first drivers will no longer function well with the new ones.

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    Once again, the Forex Profit Harvester has the ability to

    ride out such problems. You can therefore use it under all

    market conditions with confidence.

    So,When Not to Trade the Forex Profit

    Harvester

    Avoid opening new positions about 2 hours before the

    release of important economic data. This is because these

    events can generate significant levels of volatility causing the

    direction of price to fluctuate wildly. Under such conditions,

    your open positions could easily be stopped out. You can

    locate the details of all economic releases by visiting sites

    such as:

    http://www.bloomberg.com/markets/economic-calendar/

    Leave at least one hour after the release to allow the

    markets to settle into their preferred direction before you

    start trading the Forex Profit Harvester again.

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    My Trading Guidelines

    Over the years, I have developed a set to rules which I

    always apply when Forex trading. I would like to introduce

    them to you now because they are so effective that I am

    sure you will derive many benefits by utilizing them yourself.

    Your top priority when trading Forex is to minimize your

    losses. You can achieve this by developing faith in your

    trading strategies. Remember that you must plan your tradesand trade your plan. Also, never trade money that you

    cannot afford to lose. In addition, you can trade more

    objectively if you learn to think in terms of pips as opposed

    to cash.

    Remember that you are the boss. As such, make your

    decisions wisely based on your trading strategies as opposed

    to gambling on your gut instincts. You can achieve this

    objective better if you resist becoming obsessed with your

    trading. You must learn to relax and enjoy your life.

    Focus on identifying fewer but better quality trades as

    opposed to seeking adrenaline rushes by trading as many as

    possible. Your profits will increase by doing so.

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    Organize your trading activities well so that you have all

    pertinent information at your fingertips. Finally, always

    remember to treat Forex with respect and not just as another

    gambling pursuit.

    Now Ill share with you another system that is very

    profitable and it takes you lesser time than Forex profit

    Harvester to trade. And I call it

    Ten Minute Pip Snatcher

    This scalping technique trades off the 1 minute Forex

    chart and I love trading the EURUSD using it. I open

    positions using either 3 or 5 standard lots depending on

    volatility. As such, my successful trades can produce $300-

    $500 each. Not bad for 10 minutes of work!

    The Ten Minute Pip Snatcher focuses on entering a trade

    and then exiting it with ten pips profit plus. I can activate

    many positions during a session by using the 1 minute chart.

    This strategy is not designed to detect tops and bottoms

    and functions best during trending conditions. As it is based

    again on the 9 and 50 period exponential moving average

    together with the Relative Strength Indicator, you can use

    this strategy with any trading platform at your disposal. This

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    is because thesetechnical indicators are standard to all

    trading platforms.

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    You can download my tenminutescalper template below

    and attach it to your chart. This following diagram presents

    the 1 minute EURUSD chart displaying both the EMA9 and

    EMA50. Look for Buys when EMA9 is above EMA50 and Sells

    when EMA9 is below EMA50.

    I then utilize the RSI (14-period) on the 15 minute

    EURUSD chart to help assess whether the market condition is

    overbought or oversold. If RSI is above 70 within a bullish

    trend (EMA9 > EMA50) then I do not go long. Similar, I do

    not open shorts when RSI < 30 during bear trends (EMA9