I am sharing the simplest strategy for stress free day trading, I have ever seen anywhere else
Indicators
- SMA 5,0
- BB (Optional)
Time Required – Just 15 minutes daily after D1 close when new candle starts.
Avoid
- Lower timeframe charts, even H4 is not reliable.
- Risk – Do not take positions more than 5% of account value and do not take multiple positions of same currency (Max 2), even setup is 100% correct
- Sideways pattern, see below
(Updated on 17-Dec-2016)
- Long – SMA line in upward direction
- Short – SMA line in downward direction
- Ignore – Flat SMA line
Entry
- Long – When previous D1 bull candle’s body has clearly crossed SMA and did not touch BB upper band.
- Short – When previous D1 bear candle’s body has clearly crossed SMA and did not touch BB lower band.
Please refer #4572 for some examples http://www.forexfactory.com/showthre…17#post9162217
Stop Loss
- high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle.
Take Profit/Exit
- Take 2 positions of same setup, and close the first setup after taking profit on same day and leave the another setup to run forever
- Keep moving SL for second setup as per S&R
- You may exit when candle touches/cross BB top/bottom line.
- You may exit from second position if you have minimum 3 candles profit as part of 1:3 strategy.
- Must Exit on breakeven if setup goes in opposite direction.
I request all of you to try and share your results regardless positive or negative, here is why
- Traders will be motivated when they see your positive results
- Traders will stay away if they see your negative results
- Suppose all traders try this strategy, it will force setup to follow the direction we want
- we will be helping traders who were never profitable
- we will be helping retired/jobless person to make money
- we will be helping new traders to survive in the market and list goes on…
You may try this strategy on old charts, Good luck!
Disclaimer : USE OF THIS THREAD/SUGGESTIONS AT YOUR OWN DISCRETION AND RISK AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY LOSS!
From Forex Factory