Since I have already gained some experience in the area of forex trading, I would like to share it with you. However, I would like to ask all traders to pay close attention to the trading hours.
I am now a good dealer and can say that there are strategies that have a 100% hit probability. Over time I have tried many strategies. Some, in particular, strategies based on indicators, in my experience, are often short-lived. All the pointers appear long, and short signals unfortunately just too late. There are many books in the market that herald the blue of the sky. According to Wikipedia, however, only about 3 of each trading is successful.
I was able to offer very good experiences with a breakthrough strategy. This strategy is a day-trading strategy.
Update 2017: This is the best way to register a demo account with an intermediary.
Features of this day trading strategy
-This strategy is not based on the index but is based on the exchange rate work.
-based on several statistics showing that the largest market movement takes place on average in the morning.
-In the morning between 5.8 a.m. (Frankfurt Open), price movement and volume trading at its lowest level. This allows us to put closure stations.
-Important news will be published during the day. This allows us to participate in a strong price movement.
-We let the profits that are run for a very long time and the attitudes that evolve against us are solved quickly.
of the strategy:
This strategy is only suitable for EUR/USD and GBP/USD due to trading time, size and costs. We trade on time frame H1
1. Draw the box that includes the price range (high, low) between 5 and 8 hours (German time). See the picture below.
2. Use the stop or wait command until the price breaks the top or bottom line of the box
3. Your SL (stop loss) should be on top line (don’t forget to compute spread with short)
4. If you put the position by 30 points in our preferred direction, set SL to be (even broken)
5. Your TP (reap profit) must be at least 75 points. (up to 200 points is all profitable)
Warning: If the blue box is greater than 40 points, you should not behave because the risk is too high for the average daily transaction.