Hi

This isn't exactly my own invention/system; I got the idea from the etoro guru 'Viking1961' another fellow dane.

It seems like the most solid and quite simply system I have ever come across, so I hope you can either point out the flaws or confirm that this is the holy grail in which case I should probably up my investment

1. Philosophy behind the system: The basic idea is that you select a currency pair and find a channel of 'min-max' boundaries + a safe zone. The two year high-lows of a single pair. This will form the 'channel' within which one trades for the next 3 months.

2. Indicators and parameters: None. You just use past history of a currency pair to pick your channel.

3. Entry and exit signals: None. Every 50 pip move up or down a new trade will be triggered and reach TP.

4. Stop loss and profit target placement: You start out opening both sell and buy orders and with TP 50 pips away. Whenever you reach a TP you open up two new trades at that level with another 50 pips for TP. That way you will effectively range-trade up and down a currency pair, continually taking pips to the bank and slowly increasing the amount invested. Each closed trade takes you another step. Michaels plan is to take 2000 USD and turn it into 400.000ish within a relatively short periode (some 2 years or so).

6. Backtest results: I am currently copying this trader. With a mere 50 USD on a live account. Its intended for 2000 USD, but I am playing on the safe side until I have confirmed that this actually works.

The account is live and has been trading for months now; you can follow Michaels results at:
https://openbook.etoro.com/viking1961/#/stats/ (what matters here is realized equity; an increase of 162% in one year so far).

More information can be found here:
https://www.facebook.com/notes/vikin...77330139012365

Where the system is explained in more detail, charts are provided as are excel sheets with the calculations.

Read more: http://forums.babypips.com/free-fore...#ixzz3g3NUxMOc