This video reviews the various ways you can still be positive with failed Double in a Day Forex trades
During this week there have been 44 successful DIAD trades
Please note we are supplying the successful deals as a service and for educational purposes to show users of the DIAD EA when and where these successful deals are most likely to occur. To do this we run the EA continuously and ignore the many break-even and unsuccessful deals as these are of no educational value.
Many traders think they have to use their whole Forex account to do Double in a Day trades. If you have a $ 5 000 account you can for instance only use $ 2 000 for double in a day trades. Also many traders think that they MUST go for 100% gains. You can choose the gains you want to go for.
The GBPJPY is the most successful currency so far – it is a good currency to trade as the spread is reasonable and it has good volatility. Volatility can be enhanced the fact that the JPY is mainly traded in the Asian session and the GBP in the UK and US sessions. This it a factor that produces higher ranging candles.
PLEASE NOTE: All of the trades could be entered using pending orders. This means you only need to look at the charts 2 or 3 times a day for a few minutes to identify potential transactions and enter pending areas in for the potential entries
Most successful deals are identified using Channel trading. Click here for a FREE Channel trading course CHANNELS
THIS WEEKS TRADING
This week are following a slightly different approach BY FOCUSING ON STOPPED OUT TOP UP AND INITIAL TRADES.
We have never detailed these trades before.
There are almost 4 times more stopped out top up trades and breakeven stopouts than successful trades. As you can see in the examples below these are trades that have been topped out and then stopped out when the stop has been moved to breakeven. It is also possible to have a breakeven stop out before the 1st topup. In order to ensure a break even stop out these deals infact have make a small profit and can therefore be regarded as profitable deals.
Please note that a group of transactions constitutes 1 Double in a day deal. We treat the group of topped up transactions as 1 Double in a day deal.
1 TOP UP STOP OUT EXAMPLE
What it looks like on your account. Note the small profit
What the trade would look like on your chart
2 TOP UP STOP OUT EXAMPLE
What it looks like on your account. Note the small profit
What the trade would look like on your chart
3 TOP-UP STOP OUT
What it looks like in your account
What it looks like on the chart
3 TOP-UP SUCCESS
What it looks like on your account. Note the $4087 gain
What the trade would look like on your chart
STOPPED OUT AT A LOSS
Stopped out transaction
Stopped out transaction at a loss
STOPPED OUT AT BREAKEVEN
It is also possible to be stopped out at break-even after the initial entry. There is a breakeven setting can move the stop to breakeven before the 1st top-up occurs
