Our primary tradeplan will be traded the same way every time. Here are all the basics you need to know:
- We trade the GBPAUD
- We trade the same symbol each day, the same way. If it ain’t broke, don’t fix it. This is ALL we need to be successful.
- The session begins at 8:30 am et, every day, Monday through Friday
- If there are no earlier trades, we could conceivably take our trade later, up to 12 noon.
- A large percentage of the time, we will hit our goals with the very first trade, which is what inspired the name of this service; Trade-A-Day
- The MAIN TRADEPLAN is a Trade-A-Day. This is a One and Done plan. Win or Lose, one Trade-A-Day. That is the simplest plan. Be patient. Over time, positions will grow and the power of compounding will kick in.
- We will use 4 targets and a trailer. That is 5 positions each trade. You don’t have to trade all 5 positions. You can focus on just Target 2 and 3 for example and nothing else. It is up to you. I personally like to trade 4 positions, using Targets 1 – 4. I will miss huge moves sometimes but the trade off is finishing sooner.
- We like to have our cake and eat it too. By trading all 4 targets and a trailer, we can profit from trades that can’t get past Target 1. We can also profit much more if we hit larger targets, which will happen, and, trail for the occasional huge runner, which does happen.
- Important Rule: We will ignore any target less than 10 pips. After spread, a 10 pip target will only make 7 to 8 pips. That is our very minimum goal. Hit a target that makes 10 or more pips (not counting spread). The trades will be issued with this in mind so at times you might see more than one position coming off at the same position. This is why that would happen (see #10).
- If Target 1 is less than 10 pips for example, then take the Target 1 position off at Target 2. If Target 2 is also less than 10 pips, which is rare but it could happen, then take both T1 and T2 positions at Target 3, etc.
When session does not win on its first trade, we will continue to call trades until we hit our goals. The final trade might be called as late as 11:59 am, et. That would be an outlier and very rare. If the earlier trades fail, we have learned that the later trades win at a very high rate so we are adding this as an extra service to provide our members with more value.
We have learned that the ‘One and Done’ tradeplan will average approximately 250 pips per month. Variation 2 should produce about 500 trades per month on average. This is based on our past results and of course, past results are not a guarantee of future performance.