An Easy Day Trading Forex Strategy
The best times to trade. Granted the forex markets are opened 24/5 but we want to trade when there is a good amount of volatility and these times are as follows. I will use Eastern Standard Time and you will have to translate it to your time where ever you may be. You are free to trade when ever you want but to achieve the results we’ve talked about on the site, you need to try and trade during one of these time frames. The best is #1 and then 2 and 3 in that order.
- New York session – anytime from 1 hour before the market opens until a couple of hours after. Appx. (7 am EST to 10 or 11 am.)
- London session – from about (2 am until 5am EST.)
- Asian session – about (6 pm until 9 pm EST.)
If you can trade sometime in sessions 1 or 2…Great. If not, you will have to settle for 3. Now everyone’s risk appetite and greed factor is different. First let me tell you, it’s important to conquer greed as I mentioned on the website. It will ruin your trading experience in the long run. I personally trade this system most every day and I trade a standard contract never risking more than 10% of my account at any time. I use a stop/loss of 10 pips and a take/profit target of 20 to 30 pips. I use the bonus program that I sent you when I trade. For my wife and I, we don’t need a whole lot so if I win my first trade which I normally do, I’m done for the day unless I really have nothing else to do. For me $200. to $300. a day is fine. On the other hand, there is nothing wrong with going for more if you so desire because during our suggested trading period, there are usually 2 to 3 good trades or most of the single trades, if you monitor and let the indicator tell when to get out often times produce more than 20 or 30 pips. It all depends on you and your situation. Just keep the greed factor under control. Now I’m going to explain to you with the help of a chart exactly where to enter and exit a trade especially if your going to keep an eye on your trade and exit manually
O.K. Here we go : First of all the yellow arrows and text are not part of the system. They are there for illustration purposes. See the first aqua arrow pointing up on the bottom. This is our alert that a possible trade is coming up. The arrow will pop up on your chart and an audio and visual alert box will pop up. So you can see that you could be doing other things on your computer or just close by. This alert was almost a half hour before our buy signal. You can see your S.S. Short trend has turned blue, it’s heading upwards and it crossed the magenta line going up. We jumped in at the opening of the first candle after the lines crossed indicated by the yellow arrow and “buy here” We immediately place a 10 pip stop/loss and a take profit to your
liking or keep our eye on the trade. This trade made 60 pips in 20 minutes and went on to make another 38 if you let the system tell you when to get out which was when the orange down arrow and alert popped up. 98 pips, $980. on a standard contract and $98. on a mini…all in less than an hour. This trade took place at 2:30 am EST which is about 30 minutes after the opening of the London session. Not bad for an hours work in your P.J.’s..huh? It’s that easy folks. Rules remain the same all the time. If you notice on that trade you got in when the candle opened and the only draw down was 3 little pips. Not even enough to get nervous. This is a killer system. If your a newbie, trade it for a couple of weeks on a demo account, even if you are experienced, get used to it for a couple of days on a demo account. Also, in a sell trade, it works the same but in reverse.
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