挂单系统 (System of Pending Orders)

This is a short-term system using only pending orders with no TP or SL and having a holding period of days to weeks depending on how many pairs you choose to trade. The system benefits from safety in numbers so the more pairs traded, the better.

IC Markets has a limit of 200 open trades and pending orders and since I'm trading the entire markets of AUD, CAD, CHF, EUR, GBP, SGD, JPY, I will reach something close to 200 within a week. For me this means begin placing pending orders on Monday, continuing up to and including Friday, and then closing everything by end of day on Friday.

The system is simple, just place the pending orders on the TE without TP or SL. If you decide you must have a TP or SL then do so but it's not a part of this system and it would only result in less profits and more drawdown.

Some things to mention:

. I think $5000 with 500:1 is sufficient for placing 0.10 lot pending orders on the entire market
. It doesn't matter if you're on a commission account or no-commission account
. It doesn't matter if your broker doesn't have good spread
. It doesn't matter if your broker is ECN, Market Maker, etc.

I'll continue to clarify things with postings of scripts, indicators, and screenshots as the thread develops with questions or comments.

This is obvious but we're on a public forum so don't take any of this as financial advice in any form whatsoever.

Happy trading and green pips to all