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Simple Forex Trading Strategy

ritzn

Member
Hi,

Inspired by MJ's initiative to provide Easy Trade Strategies, I am sharing my trading strategy.

The idea is to share the strategy and learn its shortcomings and tweak it to make it a successful Trading Strategy.

My Trading strategy is a combination of some of the profitable Trading Strategies which require minimum amount of PC time as I am a Full time employee.

SETUP: MetaTrader hosted on my own VPS Server. (If anyone needs to host their EAs on my server cheaply, PM Me)

Step 1: My indicator send me an email with four figures at a set time of the day, as follows:

GBPUSD, Remember, Our target is just 10 Pips - Buy Price: 1.61664, Sell Price: 1.60963, Upper Target: 1.62365, Lower Target: 1.60262, NOTE: Upper & Lower Target is just for research and trailing. Pips Range: 70.1

Step 2: I log on to my VPS (through PC or my HTC Phone) and open a BUY or SELL Trade depending on the General direction of the Trend defined by an EMA.

With a TP of 14 Pips, SL of 28 Pips.

Step 3: Price either move in BUY direction or SELL. If it moves opposite to trend, my SL is touched and if the trading conditions are good (no massive news coming - check Forexfactory & ForexLive), then open the pending order at Sell/Buy Price as mentioned in the email with double Lots. (smells like martingale, but it is not entirely that)

If I looses twice then I don't trade that day and begin from original lots next day.

Because my strategy is based on breakout at a particular time of the day, it has a very high win ratio.

You can follow the LIVE Journal at


I will update the Lot sizes from coming week.

Here is the brief idea behind my strategy:

Note: Watch it in full Screen for clear view



I will appreciate if you can give your suggestions or comments
 

ritzn

Member
I am sorry If I gave the wrong impression about the indicator.

The discussion here is on the accuracy of the Signals generated and the basis on which these signals are generated.

I will be sharing my signals here on a daily basis and then analyse the Trading Strategy.

Hope this makes sense.

I think noone can comment if you don't share your indicator.
 

ritzn

Member
Trade Signal 1

Trade Signal 1

GBPUSD, Remember, Our target is just 14 Pips -
Buy Price: 1.62218, BUY opened at 06:45 LONDON TIME as the Day Trend is UP.
Sell Price: 1.62041,
Upper Target: 1.62419,
Lower Target: 1.61852,

NOTE: Upper & Lower Target is just for research and trailing. Pips Range: 18
 

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