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Audreysn
11-04-2015,
hello folks,
Short Introduction: I have been trading forex since last 7 years.During first 3 years i had blown my account numbers of time. I was trading with emotion,fear and greed. Trading of any time frame and news trading etc.
Trading without stoploss and risk:reward and ultimately losing the money. In short, Just gambling and not trading professional way.
Later, I started trading using daily chart and stick with it. Trading using Price Action Method. Got some what success but the main thing is consistency.

I was doing research on few method which provides consistent and good result.

PARMAR 3P Method.

By the way, Parmar is my last time and 3P stands for Profit,Percentage allocation and Persistent.

The Method is quite simple and takes 10 min of your daily time.
You don't have to be pro and experienced.

The Method is based on daily chart. Look for broker which gives 5 candle per week and ignore weekend candle.

Step 1)

Place 3 order above the high and below the low of previous candle with 1 pips offset.

Eg if EUR/USD high is 1.33157 and low 1.32451 then
place 3 order of buystop at 1.33167 and sellstop at 1.32441

step 2)

Target and stop loss.

Stop loss for all three order is 5 pips.
Target is 5 Pips, 10 Pips and 15 Pips.

Now let us assume that you have place 0.1 lot size

so there are 4 outcomes

Outcome 1st order 2nd order 3rd order Result Result
in $
(5/5) (5/10) (5/15) pips
1 Loss Loss Loss -15 pips -$15
2 Profit Loss Loss - 5 pips -$5
3 Profit Profit Loss +10 pips +$10
4 Profit profit profit +30 pips +$30

Now the probability of achieving 5/5 is more than 5/10 and 5/15
As soon as the high/low break the probability of moving 5 pips is more. some time it moves 30-50 pips as well.

so what we have done is percentage allocation.

Initially we have used 0.1 lot size. so for there order our total lot was 0.30

Now we will distribute these 0.30 into 60%, 20% and 20% which will be 0.18, 0.06 and 0.06

Now see the result difference

Outcome 1st order 2nd order 3rd order Result Result
(5/5)#0.18 (5/10)#0.04 (5/15)#0.04 pips in $
1 Loss Loss Loss -15 pips -$15
2 Profit Loss Loss -10 pips +$3
3 Profit Profit Loss +10 pips +$12
4 Profit profit profit +30 pips +$27

sounds great, isn't ?

pips is same but in terms of $ it is great and that is what it matter.

Now pair.
Best outcome will be in EUR/USD and GBP/USD

I have back tested these method over several year and month by month and result is quite impressive.
Not a single losing month.


Currently I am using GBP/USD in these method and trader can check the result at myfxbook

PARMAR 3P Trading System | Myfxbook

At last, thanks for looking these method and will be awaiting for both positive and negative comments.
regards
vijaykumar parmar

aotvfdqd81
11-05-2015,
Hi Vikaykumar... Thanks for sharing your strategy.. I find it very logical are similar to my style of trading (trading breakouts)... I would like to know what broker would you suggest for this strategy since most of the brokers have prices upto 4 decimals place? and would i require a ECN acc or a standard acc would suffice?? Also, do u trade news events in this strategy??

Arthurdelt
11-06-2015,
Quote Originally Posted by austin85cold View Post
Hi Vikaykumar... Thanks for sharing your strategy.. I find it very logical are similar to my style of trading (trading breakouts)... I would like to know what broker would you suggest for this strategy since most of the brokers have prices upto 4 decimals place? and would i require a ECN acc or a standard acc would suffice?? Also, do u trade news events in this strategy??
I wont recommend ECN as i have to pay commission each time. I have tried ECN and standard account both. Result is good in standard account. I am using broker with 5 decimal place in standard account and spread 1 pip for eur/usd.

Bitcroka
11-06-2015,
Quote Originally Posted by vijaykumar View Post
hello folks, Short Introduction: I have been trading forex since last 7 years.During first 3 years i had blown my account numbers of time. I was trading with emotion,fear and greed. Trading of any time frame and news trading etc. Trading without stoploss and risk:reward and ultimately losing the money. In short, Just gambling and not trading professional way. Later, I started trading using daily chart and stick with it. Trading using Price Action Method. Got some what success but the main thing is consistency. I was doing research on few method which provides consistent and good result. PARMAR 3P Method. By the way, Parmar is my last time and 3P stands for Profit,Percentage allocation and Persistent. The Method is quite simple and takes 10 min of your daily time. You don't have to be pro and experienced. The Method is based on daily chart. Look for broker which gives 5 candle per week and ignore weekend candle. Step 1) Place 3 order above the high and below the low of previous candle with 1 pips offset. Eg if EUR/USD high is 1.33157 and low 1.32451 then place 3 order of buystop at 1.33167 and sellstop at 1.32441 step 2) Target and stop loss. Stop loss for all three order is 5 pips. Target is 5 Pips, 10 Pips and 15 Pips. Now let us assume that you have place 0.1 lot size so there are 4 outcomes Outcome 1st order 2nd order 3rd order Result Result in $ (5/5) (5/10) (5/15) pips 1 Loss Loss Loss -15 pips -$15 2 Profit Loss Loss - 5 pips -$5 3 Profit Profit Loss +10 pips +$10 4 Profit profit profit +30 pips +$30 Now the probability of achieving 5/5 is more than 5/10 and 5/15 As soon as the high/low break the probability of moving 5 pips is more. some time it moves 30-50 pips as well. so what we have done is percentage allocation. Initially we have used 0.1 lot size. so for there order our total lot was 0.30 Now we will distribute these 0.30 into 60%, 20% and 20% which will be 0.18, 0.06 and 0.06 Now see the result difference Outcome 1st order 2nd order 3rd order Result Result (5/5)#0.18 (5/10)#0.04 (5/15)#0.04 pips in $ 1 Loss Loss Loss -15 pips -$15 2 Profit Loss Loss -10 pips +$3 3 Profit Profit Loss +10 pips +$12 4 Profit profit profit +30 pips +$27 sounds great, isn't ? pips is same but in terms of $ it is great and that is what it matter. Now pair. Best outcome will be in EUR/USD and GBP/USD I have back tested these method over several year and month by month and result is quite impressive. Not a single losing month. At last, thanks for looking these method and will be awaiting for both positive and negative comments. regards vijaykumar parmar