In this post we are going to explain our Double In A Day Forex Strategy that doubles the account in just one day in great detail. This is a low risk strategy. So let’s begin. Take a look at the screenshot below!
Do you see the strong bearish divergence pattern in the above screenshot marked with yellow lines? Suppose we have $1000 in our account. Can we double this $1000 into $2000 in one day? Maybe not in one day but can we do it in 1-3 days? This is more realistic as a move can last from 1-3 days.
So we spot a strong bearish divergence pattern and make an entry. Our entry is 1.13807 at the close of the one hour candle. Our stop loss is 1.14098. Our risk is 30 pips. We open a position with 0.1 lots. Our risk is $30 which comes out to be 3% of the account equity. Now we at the close of the second one hour candle we open another position at 1.13634 and mov the stop loss to breakeven for the first position at 1.13807.
The first position has become breakeven while the risk for the second position is now 17 pips. So our total risk is now 1.7%. We now switch to the 4 hour chart. Take a look below!
You see the red down arrow. This is our entry candle which is a nice pinbar. Our risk is 1.7%. We wait for the 4 hour candle to close and make another entry with 0.1 lot at the close of the 4 hour candle at 1.13409 and move the stop loss to 1.13500. So the risk for this position is just 10 pips while the first position is in a profit of 30 pips while the second position is in a profit of 13 pips. Our total profit is 33 pips while the risk is only 10 pips. So we have a net profit of 23 pips and our trade is now totally risk free. We opened the third position by looking at the 1 hour chart and finding the high of the new 4 hour candle. At the end of the next 4 hour candle we open another position.
Our 4 fourth position is just below the down red arrow in the above screenshot. We move the stop to 1.1340 just 4 pips above the high of the 4 hour candle making the fourth position breakeven and open a new position at the close of the 4 hour candle at 1.13363. Now the first fourth positions are basically risk free with a total profit of 43+23=66 while the fifth position is having a risk of 4 pips which is incredible. Our whole trade is now totally risk free. Even if the stop loss gets hit we have a profit of 62 pips.
We open a new position at 1.12826 and move the stop loss to 1.13000. The first 5 positions are now risk free with a total profit of 80+63+40+36=219 pips while the 6th position has a risk of 18 pips. So we are in a net profit of 200 pips and even if the stop loss gets hit we have 200 pips in our bag. We open a new position at 1.12495 and move the stop loss to 1.1260. We close all the positions at 1.11668. So our total profit is around 220+200+170+120+80=800 pips and we made a profit of $800. So we can say we almost doubled our account (not exactly but very close) in 24 hours.