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This is my best forex trading system.
My strategy is very simple. It’s a more of a process than strategy. From this year, i’ve been trading on a 15min chart price action. To make it even more simple, i just trade pullback on a daily trend and range breaks during NewYork session with 10-12 pips stop loss. I trade from Monday to Thursday for about 3 hours but would finish if i’m satisfied with the pips i earned.
So here is 15 minute chart of daily trend. As i trade only during NY open, i can see what went on during Asia and London session. Based on this information, i shall look for my entry on a pullback to a certain level. Since i have very tight stop loss, i may stop out quick however if i see momentum across board , i shall take another entry from pullback. At worse i may lose few pips but if i win usually it would be minimum 3:1.
From Asia and London session, i read this pair as in range. so i wait for range breaks on either direction. I don’t predict nor do i have any intuition. I just trade what i see on the price action. In this case i took market order on the break and looking for the pair to go long with few pips stop loss. I take my profit on a good level. I think i made 30 pips from this trade.
If i’m stopped out, i may look to find another entry.
I usually like to place market order than pending orders. This is a very fast pace trading. I stalk about 8 pairs . But its not like every pair moves. I try to figure out where the money moving and try to focus on that currency only. So if the YEN is moving today than i concentrate on Eurjpy, usdjpy, cadjpy,gbpjpy and audjpy.
My process is very simple. i don’t complicate things. There is no magical indicators or EA’s. I did not invent this but learned this strategy from mentors. This way of trading really works and over time, i know i’ll be profitable.