In forex, all you need to fulfill all your goal is to get those 10 pips consistently. This forex strategy is designed to do just that. It succeeds in getting 10 to 20 pips in 98 percent of trades. The 2 percent are just left hanging while strategy continues to open the trades in the opposite direction.
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This approach might sound risky, but during our standard 13 year test, system never experienced any unbearable circumstances. This is mainly due to the fact that it never fights the market. Still, strategy is quite agressive and risky. Use with extreme care.
The first thing we do with this forex strategy, is that we identify trend by standard metric – exponential moving averages (EMA) positioning. Our trade is always in confluence with the trend direction. We enter on daily candle, looking for strong movement during the day this typically means the candle with body range between 80 and 400 pips. Once we find such candle, we enter the trade in its direction and the direction of trend, looking for a humble profit of 10 – 20 pips.
The system was tested on high quality historical data, proving its profitability and acceptable risk !
Used tools and indicators
The strategy is designed for 1D chart, where one candle equals one day of trading.
Exponential moving averages (EMA 750, 1000) Position of those two EMAs will determine trend. All positions are entered in confluence with trend.
Big candle signal (min 80 pips max 400 pips). Strong movement during the day is a strong sign of momentum. The direction of candle must be in confluence with trend.
Forex strategy rules
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SELL
EMA fast trending below EMA slow. This signals downtrend and we will be looking only for short entry on bearish candle close.
The signal: bearish candle with range of 80 – 400 pips.
Once it closes we place pending sell stop order at its low. This pending order will remain valid for 24 hours.
Take profit: 20 pips in test
Stop loss : none
BUY
EMA fast trending above EMA slow. This signals uptrend and we will be looking only for long entry on bullish candle close.
The signal: bullish candle with range of 80 – 400 pips.
Once it closes, we place pending buy stop order at its high. This pending order will remain valid for 24 hours.
Take profit: 20 pips in test
Stop loss : none
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Disclaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.
