Hey guys,
I found this trading strategy from other forum. I have tested in my demo account since a few times and it is profitable!
Its a simple strategy. You need not have any indicator, just the default ones found in your metatrader.
Daily Profit Potentials: Around 30-50pips +
All you need to do is the following:-
1. Pull out a M15 Chart for a USD Major pair, example like GBPUSD.
2. Draw a vertical line at 14:00 time on your Chart.
3. Draw a vertical line at 16:00 time on your Chart.
4. Draw a Horizontal line at the high of candles/bars in between the vertical
line.
5. Draw a Horizontal line at the Low of candles/bars in between the vertical
line.
Thats it, Simply put a buy stop at the high and sell stop at the low with stoploss of 30-50pips. DO YOUR OWN RR.
Ideal Targets: Around 30-50pips or no targets if you think it can go more
Trailing Stop of 15pips, if you want to.
You can also check historical records and see its very profitable!!
Some points to note:
1. There are only 9 candles/bars in the 15 minute chart, between 1400-1600.
2. If the Distance between the high and low is less than 50-60 pips, it could be very profitable.
3. If the Distance between the high and low is more than 50-60 pips, it could be not very profitable.
4. If the price doesn't break the high/low, its a ranging market.
5. The USD news are usually released around or after the 14:00-16:00 GMT phase.
6. The signals are only valid for the current day, Next day u again need to wait for the 1400-1600 time and 9 candles again.
*THE TIMEZONE IS BETWEEN 7AM-9AM New york Time*
Today's trade in my demo account:
Let's wait...I am going to sleep now.
This post has been edited by bulkbiz: Dec 31 2008, 12:23 AM