Cash Cow - Pip Cop

**rsmereka** · 2011-10-09, 12:45 PM

The Cash Cow strategy has been around for many years. I originally bought it from a web site years ago (I believe I paid $97 for it, the web site is no longer around). The good news is that this strategy is now free for the taking here. I have no affiliation with anyone in conjunction with this review.

The Cash Cow is a manual trade once a day (maybe) strategy using the GBPUSD pair. There are a series of rules before a trade can even be considered and there is quite a bit of math to calculate everything. Once you get used to it, it should take no more than about 5-10 minutes a day. This is a low attention strategy, you set it up and walk away.

The strategy is not a scalper, nor a grid trader, also does not employ Martingale money management

. It has a very good risk:reward (1:1.4, 60 pips risked for a maximum of 100 pips gain). I started this review trading at 2% risk (equity * 0.02 / 60 pips / 100 [if a standard lot account, eg: 0.10 = 10,000 units]).

This is the third time I have started trading this strategy. The other two times, I stopped because I thought I could do way better (in terms of return) with an EA. Now I have learned that this may be true in the short

to medium term but not in the long term.

I am not sure that the win rate

will be, we will just have to wait and see.
Link: http://www.myfxbook.com/members/rsmereka/cash-cow-gbpusd/172955

Rick

philmypants · 2011-10-12, 07:14 AM

Looks to be a possible position set up for tomorrow.

**rsmereka** · 2011-10-12, 07:53 AM

Quote:

Originally Posted by philmypants

Looks to be a possible position set up for tomorrow.

Hi Phil,

Absolutely. Certainly has the required range

. Almost 300 pip range

today after the recent spike upwards of the pound.

Rick

philmypants · 2011-10-13, 06:54 AM

Buy stop is based on low of the day isn't it?

**rsmereka** · 2011-10-13, 08:14 AM

Quote:

Originally Posted by philmypants

Buy stop is based on low of the day isn't it?

Phil,

A lot more complex than that. Read the and understand the rules and go through some samples on paper based on historical data and look at my two previous trades and figure out why I placed the entry, SL

and TP

where I did based on the daily chart.

What I do is have a text (.txt) file on my VPS which I edit with Notepad. I place on my calculations for each day and the result. I started this a long time ago as a journal of sorts. It helps me keep the calculation fresh in my mind.

Attached are my cash cow journals. The current one is ttripp3.txt, and the other two are from when I paper traded this strategy in the past. The dates are in the journal. Using a daily chart, you should be able to follow along.

Rick

**rsmereka** · 2011-11-18, 07:40 PM

Reference

Rick