| Updated AutoScaler Trade Idea; Trade Room Bonus
Hi Folks.
A few weeks ago I presented you with an idea (a trade method,actually, called London Crush) that when combined with Forex AutoScaler set at 3 additional trades 5 pips apart, was consistently picking up 20 pip price moves that translated into 50 pip gains thanks to the extra AutoScaler trades.
And like most methods in Forex, as soon as we started using it in earnest, it went flat and we had a much more difficult time catching those 20+ pip winners.
Not one to be discouraged, I went back into my pip lab and made some adjustments and came up with the following: by reducing my number of extra trades from 3 to 2, and setting a take profit of 15 pips instead of 20 or more, I could fairly easily pick up 30 pip winning trades.
And from a math/logic point of view, this system pretty much cannot fail to work for any lengthy time frame. We are looking for 15 pip price moves on the GBPJPY. This is pair that has an Average Daily Range of 150 pips or more most trading days. 15 pip price moves are found in abundance.
What that means for AutoScaler users is that if they can trade during London or New York sessions, finding 3-5 such moves during any 2 hour session (or segment if you like) of London or New York is one of the easier jobs you'll ever have in Forex.
And it makes sense from that same logic/math standpoint: You cannot get a 20 pip price move unless you get a 15 pip price move first. And there were plenty of moves that got to +15 or +16 but never saw +20 or more, and because I was hanging on for 20 pip those trades ended in a loss.
So instead of taking more additional trades and hanging on for every possible pip, adjust your extra trades down to 2 and get out at +15, and take as many of these trades as you can find during your trade session.
And right now, if you don't have AutoScaler, when you pick up a copy I'm throwing in a free 30 trial of our Trade Room. The room is open for the first two hours of the London session (that works out to being 3-5 a.m. eastern time for me) and from 9-11 a.m. eastern time, starting an hour after New York opens. We trade live using AutoScaler and the London Crush method that is also included with your purchase.
So if you haven't picked up a copy of Forex AutoScaler yet, visit http://forexautoscaler.com and spend some time studying the page and watching the videos. And if you're ready to start cranking out 30 pip winners on some pretty average and easy moves, grab a copy and then join us tomorrow in the Trade Room.
Jeff
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