Open your MT4 trading platform and open a GBPUSD 15m chart.
Load the “Two Percent Daily” template onto the chart. Right click and select expert advisor -> properties. Load the 4 or 5 digits set file dependant on your broker. Also ensure that “Allow live trading” is selected.
The “Two Percent Daily” method scalps pips when price breaks through major support and resistance. There is always an opportunity to grab at least a few pips and on some occasions catch a runner. The emphasis is on money management as one needs to minimize loss and lock in profit at the first available opportunity. Ensure that you are ready to perform the following actions on EVERY trade:
- Set a stop loss of 10 pips (2% of your account)
- Set a trailing stop of 3 pips immediately when 3 pips in profit
This will keep you out of trouble and is the main concept that you must follow in order to reach at least 10 pips every trading day. The order management “Swiss Army EA” will automatically do this for you as it is not always possible to do it manually when the market is moving rapidly. Ensure you have loaded the correct set file in the “Swiss Army” expert properties.
Wait for the m15 candle to close. Enter long 1 pip above the red dot of the closed candle and short 1 pip below the blue dot of that candle. You should use pending orders to ensure you enter at the correct price. Add the spread to pending orders when looking to go long.
If your broker does not allow hedging then place an order at the closest dot and watch to see if price begins to head towards the other dot – in which case you would change your pending order. Pending orders are valid until they are triggered or until another dot appears on an m15 candle.
The “Swiss Army EA” will take care of exits. The settings set a break even at the earliest opportunity and trail the price closely to lock in profit and milk the small and big moves.
Quit trading once you have gained 2% of your account. You can trade beyond this but BE AWARE you risk losing a healthy gain. Quit while you are ahead. The following tables show how a 2% daily increase will grow your account substantially regardless of how little capital you have to invest.
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