How To Double Your Account Daily M30 Day Trading Strategy

Naked trading is the best strategy. Pinbar is a good naked trading strategy. Before you continue reading this interesting post, did you read my last post on a pinbar strategy that you can implement easily using our pinbar indicator? You can download the MQL4 Indicator FREE and start trading with this high reward low risk pinbar strategy. You should also read this post in which you can watch the webinar recording on how to trade price action naked. We all trade forex thinking that we can make a fortune. But the reverse happens.

Most of us lose and lose and lose. So instead of making a fortune, we end up blowing our account. Why? Because in our greed of making a fortune, we just ignore our risk and money management rules. Let me tell you this thing: It is very much possible to double your account daily if you can master the skill of risk management. At no point you should risk more than 2% of your account equity. If you can follow this simple rule, you will never get your account blown. The worst that can happen is your account suffering a loss of 2%. Once your stop loss gets hit you quit trading for that day. This will help you avoid building up your losses into a big loss. In the next series of post we will discuss in depth a day trading strategy that doubles the account in 1 day. So let’s start. Take a look at the following GBPUSD M30 chart.

Day Trading Strategy

In the above screenshot you can see GBPUSD falling strongly 250 pips in the next 10 hours. This is what we want to do. Enter a new short position on a new M30 candle. Our first short position is just above the red arrow. The stop loss is 15 pips and the entry is 1.47588.

Day Trading Strategy

In the above screenshot you can see 6 red arrows. These red arrows show the opening of new positions at the close of each bearish M30 candle. So the next position is opened at 1.47133 and the stop loss is moved to 1.47233. So the risk for the second position is 10 pips while the profit from the first position is 35 pips. So even if the stop loss gets hit we end up with a profit of 25 pips. As said above once the stop loss gets hit we quit for the day. There is no doubling on that day. As long as the stop loss doesn’t get hit we keep on adding the positions.

The third position is opened just above the third red arrow. The entry is at 1.46861 and the stop loss is shifted to 1.46961. The fourth position is opened at 1.4690 and the stop loss is moved to 1.4791. The fifth position is opened at 1.46361 and the stop loss is shifted to 1.46461. You can see at no point the risk is more than 10 pips. The sixth position is opened at 1.46159 and the stop loss is shifted to 1.46259. So the risk is always 10 pips. At no point of time you are going to suffer a loss more than 10 pips.

Profit target for all positions is set at 1.45000. The profit target is hit and the positions are closed with a total profit of 258 + 213 + 186 + 169 + 115 = 941 pip. Suppose we had $1000 in our account. Risk should never be more than 2% at any time. So the first position is opened with 0.1 lot and the risk is $15 which comes out to be 1.5%. So if we use 0.1 lot size the total profit will come out to $941.

Now as you can see we have used M30 candle to make the entry decisions. First we need to develop a neural network that can predict how much the pair is going to move in the next 24 hours. Everyday the pair is not going to move 200 pips. Some days it will move 100 pips. So we need to develop a neural network that works on the daily timeframe and predicts the probability of 200 pips move. When we have a high probability of 200 pips move we can confidently implement this M30 Day Trading Strategy.

Then we need to develop a neural network for M30 timeframe that predicts the M30 candle and gives us the buy and sell signals. Stay tuned as in the next series of posts I will discuss in detail how to develop these 2 neural networks that are going to help us in successfully implement this M30 Day Trading Strategy.