This is a simple overnight strategy that won’ have you buying a yacht or airplane but it works in its own simple way. I can’t credit the author as I don’t know his name, we chatted at a meeting last year and I took some notes and later rediscovered my notes. I have forward tested on Oanda demo from 2/25 to 4/18. +238pips and will go live Mon., 4/28.
The strategy: 3 prs only (& this was stressed several times); E/$, G/$, & $/chf. 30M or 1H TF from 14:00 to 18:00 US ET period. No indicators and only trade Mon - Thu nights.
Around 9-10 pm pull up the 3 charts & check the trend for each on the Daily. Trade only in the trend direction. Next, go to the 30M chart and look for a flat non-trend from 14:00 to 18:00 ET; if the 30M isn’t flat go to the 1H, if it isn’t flat go to the next pr. “Flat” is the only judgment call you have to make.
So, the Daily trend is up & the 30M or 1H (just one & they don’t have to agree) is flat. Find the highest price during the 14:00 to 18:00 period and add 20 pips, that is the Buy Limit Order entry. TP-always 30 pips; SL-always 30 pips. I use an 8 hr duration time period for the trade to trigger (that might be flexible, it’s what i use.) That’s it, go to bed & the next morning you will have the results. If a trade is still open then I manually close it but you can decide that.
If the trend is down on the Daily, time period is flat, find the lowest price during the 4 hr period & subtract 20 pips, that is the Sell Limit Order entry - same 30 pip TP & SL. The next post will give my trades with P&L. Sorry, I don’t know how to post a pic of my trading journal summary, it would save a lot of typing.
As usual the normal disclaimers apply - your risk, MM, no promises, etc., etc.