This amazingly simple and profitable forex strategy, can bring you an average of 50 pips per day. You may ask, how many trades you need to place to be able to do so. The answer: You place single trade per day on one currency pair (of course you can trade more pairs) to get those 50 pips.
Strategy is so simple you can test it within 5 minutes and see for yourself that it works just as promised. It is traded by placing single pending order per day, with predetermined stop loss and take profit levels.
Green - winners, Red - losers
Both are equal (on average). If this forex strategy loses its statistical edge, which is about (4:1) you will lose just about 1 pip per day.
And its not going to happen as it is based in fundamental market principle of trend and momentum of most important timeframes – daily chart.
Strategy is offered free and full you are welcomed to test it on your own chart.
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Forex strategy rules
We pick any of major currency pairs, we can use simultaneously as many as we see fit.
We switch to daily timeframe – where each candle represents a full day of trading.
BUY:
Bullish candle signalize uptrend in lower timeframes, it is likely that trend momentum will be at least partially present in next day session.
We place pending buy order at high of clear bullish candle. Order must be triggered in next day session. If its not, we cancel it at the end of the session (next day candle close).
Stop loss is placed at the low of our bullish signal candle.
Take profit: Distance equal do the size of a stop loss. (stop loss equals profit target).
SELL:
Bearish candle signalize downtrend in lower timeframes, it is likely that trend momentum will be at least partially present in next day session.
We place pending sell order at high of clear bearish candle. Order must be triggered in next day session. If its not, we cancel it at the end of the session (next day candle close).
Stop loss is placed at the high of our bearish signal candle.
Take profit: Distance equal do the size of a stop loss. (stop loss equals profit target).
Size of the order depend on our money management.
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