I have been looking at 4ex Pip System, a ForEx scalping system costing £99.

It is simple enough system based upon sound principals for entries but I have struggled with exit strategies. Two trading windows are advised for each day, but with any luck you’ll be done and dusted quickly in the first window, so you aren’t tied to your computer all day.

With scalping systems, you aren’t really trying to grab the most pips you can out of each trade, or even each day. Rather, you set a daily target of between 10 to 30 pips. Perhaps the best way to use this system is to aim for 10 pips, close 50% of the trade, bring the stop to entry and aim for the remaining 20 pips. The simplest exit strategy would be to just aim to 10 pips per day or per session.

I wanted to blog this using a ForEx pair, a commodity and an index. For ForEx I looked at GBP/USD and EUR/USD pairs. The commodity looked at was Texas Light Crude as this is often very volatile but was unable to get this to work and I abandoned this part-way in to the trial. I used both FTSE and Dow for indexes.

The stop loss is 20 pips. As per normal for Cash-Masters ForEx blogs I will operate at £10 per pip but I will also run a £1,000 start bank using 3% risk. 3% of £1,000 is £30, divided by 20 pips means my starting stake will be £1.50 per pip. My broker needs stakes using 10p multiples, so the stake will be rounded down to the nearest 10p.

EURUSD

GBPUSD

FTSE

DOW

AM session

153.5

32.0

229.0

-56.0

PM session

182.8

28.1

91.0

166.7

Total

336.3

60.1

320.0

110.7

 

EURGBP gave an even performance in both session for £3,363 to £10 stakes and £680 from the £1,000 starting bank.

GBPUSD has proven difficult to get consistent results out of, but still made £601 to £10 stakes and £71 from the £1,000 starting bank.

FTSE unsurprisingly gave the best performance in the morning session for a total of £3,200 to £10 stakes and £584 from the £1,000 starting bank.

Dow unsurprisingly gave the best performance in the afternoon session for a total of £1,107 to £10 stakes and £200 from the £1,000 starting bank.

You’d need a bank of around £6,500 to operate at £10 per pip.

Around 800 pips in 11 weeks is a decent haul. A near 70% increase in bank just of EURUSD or FTSE is also decent performance. With simple entry criteria this system is APPROVED, with a note to the observation above about exit strategies.

You can get 4ex Pip System here:

https://www.cash-master.com/4exPipSystem.php

PLEASE NOTE: This product may no longer be supported.