Forex Hijacker

Yes to easy to implement.

Entry & exit depends how you use it, it is not mechanical and you’ll have a slight variance to my results. So the answer to the question you posed is No, it’s not “precise”.

I think, however, that you might be missing the point. It’s not the hundreds of pips that I have made that is important, rather can you make 20 pips per day. You should be able to do that using the methods described in Hijacker.

Thanks krh,

I use IGIndex for this as this is what Ron uses, although it matters not so long as you can use a 10 minute chart and you have reasonable spreads.

Crude means Sweet Light Crude, not Brent, and I am using daily spots for all 3 instruments as nothing is left open overnight.

Oil, as you are probably aware, is a cruel mistress who will spank you and praise you in equal measure! You will have noticed I use wider stops. This is NOT a recommended instrument for new traders. But I have been trading Oil for nigh on 2 years and it is my instrument of choice.

SB could have meant Starting Bank!

For currencies, the stop is 15 pips, or £150 at the standard £10 per pip. Risking 1% per trade this would require a bank of £15,000, or a bank of £3,000 for 5% per trade. 3% per trade is sensible, sand this would require a bank of £5,000. THIS IS PER INSTRUMENT, so you’d need £10,000 to play both GTBP/USD and EUR/USD at £10 per pip. The wider stops of Oil mean a larger bank of about £10,000 is required.

However, you can play for smaller stakes of 10p on some platforms, and build you bank to these sort of levels. To play at 10p banks of £50 for currencies and £100 for Oil is all that is required. At 20 pips per day, you’ll be at £10 per pip in under 12 months even from these lowly starting banks. Ah, the power of compounding.