1m Snapper Momentum Intraday Strategy

Trading Systems Free Forex Trading Systems
1

Before you read this and think another scalping method - this is not one of those! I usually have 1 setups per pair per day on this strategy. typical SL is 20-30 pips and I target 3:1 and scale out my trades in thirds. On backtesting over a years worth of data on EURUSD and GBPUSD this can yield 50% in 6 months. As we know though - big difference between bactesting and trading live, so expect less due to your psychological and technical maturity.

My charts are set up with 4 ema’s on the 1m chart and no other indicators.
1000/200/50 and 15.

A setup occurs when 2 things happen :

  1. TECHNICAL : 15/50/200 ema CROSS 1000
  2. PATTERN : We wait for price to rise to a Peak (Pk1) and then retrace to 50ema.

I then place a Stop Order 5 pips above Pk1 and SL at the bottom of the retrace.

Target price 1 is set usually 20pips ahead, then stop loss is moved to within 5-10pips of Entry. At Target 2 SL is set to BE.

I am running a live account for 6 months and post daily to my blog fxintradayjim.wordpress.com

Anyone else run similar strategies ?

happy Trading
Jimmy

2

An example of what i am describing.
Across 12 Currency pairs today with spreads less than 6pips this strategy would have gained 180pips

(I’ve made this a 2min chart example so i could put it on 1 screen easily)

1487×869

3

Interesting strategy. Can you post some more live trade examples?

Thanks

5

Hi
Loads of good examples on on my blog, or today at 08:38 take a look at the entry on Cable…great small stop of 10 pips carrying to 100pips!
Jimmy