Okay guys I promised to release the full package of the strategy.
on my next post.
But before posting the details,I need to inform you guys that each
rules outline here comes with a reason for better understanding.
Rules.
1.Trade only EURUSD and GBPUSD currency pair.
Reason:Tight spreads and good currency pairs for scraping trading.
2.Open one trade per section per day using the 4 hour chart formation.Trade either London opening section(5:00 GMT) or (13:00 GMT) afternoon section.
Reason: Avoid over trading and stress that comes with trading.And most of all,the chance to catch big pips give-away.
3.For each trade’s stop-loss must not exceed 30 pips.
Reason:To keep you still in the game if you have some consecutive losing trade.(if you have 5 losses,you are still in the game)
4.Take-profit of all trade must be 30 pips or above.Note all trade opened must have a sl and tp.
Reason:Target 30 pips and above for every trade,always make sure your take profit are big.(above 50 pips is ideal)
5.Total pips size is 500 pips.(total number of trade is about 16,which would keep you in the game for about three weeks,if you where to have all losses which from my own perspective is not possible for a discipline trader.
Reason:You only need 100 pips monthly to get monthly expectation.
6.Resistance and support lines to find Forex signals.
Reason:With the 4 hour chart,it gives you a clear perspective of
market direction.
