My forex strategy is suitable for busy people with lack of time. This setup takes just couple of minutes a day and it brings 5 pips / day / currency pair. Strategy can beeasilyl tested on MT 4 chart with pencil and paper (see for yourself).
Forex strategy rules:
On MT4
Apply EMA (Exponential moving average) 5 on 15 min time frame.
Place pending orders:
Buy: Max (high) of previous day marked by EMA 5 indicator.
Sell: Min (low) of previous day marked by EMA 5 indicator.
We do not place our pending orders on price high/low but instead on high/low marked by EMA. We do so, simply because it proved to be a better entry in back testing.
Notes to the forex strategy
We place orders for the current day before midnight,.
After position entry we cancel pending order at the opposite side.
If both position are left untriggered by the end of next day, we leave them open and wait until one of them gets triggered. Meanwhile, we add another orders every day.
For the best results, trade with professional ECN/STP broker with MT4. If you can't trade with profit. Automatically copy the traders that are already profitable.
Take profit: 5 pips + average spread
Stop loss : 30 pips.
I know what people will say : Risk reward ratio is invalid.
There is no such thing ! Realize that winning trades are much more frequent. By artificially widening profits and narrowing losses, we put our self in position where we take too many frequent losses. In the end, only profit counts.
