3 Double in a Day Forex trades in 24 hours

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You only have to double your $1 000 account 10 times to reach $1 million

There were 3 Double in a Day Forex Trades in 24 hours this week.

You can download a PDF of these trades using the link below.

The trades below are reconstruction of successful Double in a Day trades in the last 24 hours. The trickiest part of Double in a Day trading is finding the entries.

These trades are supplied for existing Double in a Day traders for educational purposes to help them identify trading opportunities in the future.

We used standard reset strategies supplied in the latest upgrade of the DIAD EA and the EURJPY is one of our favorite DIAD currencies

We will not name the price levels on each of the charts as that will clutter the charts.

The price levels on all charts are:

• Black –   Initial stop
• Blue –    Entry
• Purple –   First top-up (35%)
• Green –   Second top-up (50%)
• Brown  –   Third Top up  (65%)
• Red –  Target

First example: EURJPY    (105% gain)

Our favorite preset is the BE, 100pip trend, 105%gain, 5%risk, 3 top-up with was used.

This successful trade shows the use of channel trading to enter very precise entry points requiring a very small stop and which provide a good potential on success. This transaction was entered into on the 4^th channel bounce and the target was at the estimated 5^th channel bounce based on the distance between bounce 2 and 3.  A relatively straight forward channel trade, trade.  In this case the 15 minute charts were used but we monitor channels on all time frames higher than 15 minutes.

Second example: EURJPY    (105% gain)

Our favorite preset is the BE, 100pip trend, 105%gain, 5%risk, 3 top-up with was used.

The second trade is also the EURJPY that was in an upward trend. This is a more advanced price action / support and resistance trade that you can be forgiven if you missed it. The 15 minute charts were used.

The 136.76/77 price level established itself as major resistance level in this uptrend and the price was rejected by 50 pips when this level was reached. The price had another go at this level breaking through. When it did Resistance became support so a buy pending order was placed at the previous resistance / support level. Luckily the price came back to retest the support (this is called kissing the wife Goodbye before going on a long journey) and then continued it with the trend move. It is also important to realize that this happened during the European open which gives the price more volatility in the trend.

Third example: EURJPY    (105% gain)

Our favorite preset is the BE, 100pip trend, 105%gain, 5%risk, 3 top-up with was used.

15 Min chart

We could trade the Double in a Day channel entries all day long. They are very reliable. Especially if you are trading a 20:1 risk return ratio where you are risking 5% to make 100%

This is another example on a channel trade where the entry occurred on the 4^th channel bounce. Those who also know about dominant angles will see that the channel was also trading in a dominant angle adding to the strength of the basic channel.  Also important about this trade is that it took place at the open on the US session again providing the volatility required for a DIAD move. Another observation is that when the UK market pushes the price in a particular direction before the US open the US open is inclined to slap it back and reverse the trend.

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Please click here to download the PDF of these trades

PDF 3 DIAD Trades