Here is a very simple yet profitable strategy that anyone can follow and
make an average of 120 to 300(or more) pips a week.
I noticed that between the NY close and Tokyo open, whatever the trend,
the market seems to follow this trend for several hours.
Of course it doesn't always work but I have had better than 90% positive results.
Place the order one hour before the open of the Tokyo session.
Simple strategy, only two indicator, 10 SMA and 197 SMA.
If the slope of both is positive place a long order.
If the slope of both is negative place a short order.
(Using the EA this is very conservative and will not trade often.)
Manual traders can use just the 10 SMA slope between NY close and
Tokyo open and use their own judgement to decide on the entry point.
Often the market goes against this strategy through the Tokyo session
but this gives the manual trader an opportunity to find a better entry
point than the one that the EA uses.
I prefer to place 2 orders with half the lot size, first order to close at +35
when TP1 is reached move the second order SL to BE and let it run.
The SL is no more than 50pips per order but i can tell if the trading plan didn't go the way i wanted it , and i stop the trade manually before it hits the 50 pips SL.
if you are not comfortable with 50 stoploss then your lot size is too high
and should be reduced to a level where you are comfortable.
IF YOU HAVE ANY QUESTIONS,PLEASE FEEL FREE TO ASK.
Get on board ,and let's make some pip$...
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