I am running a test of a strategy that may surprise you. So far I have run it for the past month and I am up by 10%. I need to run it for lots of months before I go live with it but so far it is proving interesting.
I have four pairs, AUD/NZD, CAD/CHF, EUR/USD and GBP/JPY. Notice that they are all high volume currencies and that the pairs do not share currencies.
The Plan.
Do this once per day at roughly the same time of day, does not matter when but be consistent.
For each of the currency pairs, if yesterdays trade is still open then leave it and move on to the next pair.
Using the Daily timeframe.
If the price is above the 20 SMA then buy, otherwise sell.
For Take Profit use the ATR(5) value. For the Stop Loss halve that value (2:1 reward:risk ratio in your favour).
Size the position to risk 1% of the account.
That’s it. You end up trading each currency pair once per day and risking 1% on each pair.