Forex Day Trading Strategy
I have a forex day trading strategy which I am about to reveal to you right away. You should expect a winning rate of about 95% and 5% loss rate from using the strategy. My back test for it lasted for up to 7 months, that s from November 2008 to may 2009. During this period, I only encountered about 5 losses from it and the remaining was gains. This strategy only functions for the GBP/USD currency pair as a result of its instability.
The entry guideline for using this forex day trading strategy
Make a 63 EMA through one hour time length chart. If you notice that the whole candlestick forming from the Asian session runs over the 63 EMA, then the prediction for breakout should be an uptrend. Whenever the London trading period begins, assess the biggest of the candlestick in terms of length and pick out 5 pips for a four decimal platform and make use of 50 pips for 5 decimal platforms. Put a buy stop order and head for 30 pips for four decimal platform with 300 for 5 decimal platform. You should expect this to give you at least 30 pips and utmost 200 pips. Utilize a stop loss of up to 40 to 45 pips. Perform the same task if you notice that every candlestick goes below the 63 EMA and put a sell stop order using the previous filter and pick profit.
The exit guideline for using this forex day trading strategy
