Simple Forex System Trading

Thanks to Greece.  Euro has been a wide ride.  Today’s up and tomorrow’s down.  Currently, on a 5 minute chart, I am shorting euro at 1.35831.  A protective stop has been placed to prevent loss.  Let’s see what happens.  The trend indicator I am using on the chart where you see the red and blue arrows are Williams’ Percent Range.  When it’s below -30, it paints a down arrow; thus, a short order is in order.  Above -70, it produces a up arrow; hence, a buy order.

Trade within ranges

Look out for flat range, not uptrend or downtrend channels.

In this pattern, it is important not to be greedy: don’t try to maximize your profit with the full range.  Getting part of the move is good enough and sustainable.

This kind of trading has a better chance to succeed when it goes together with the general trend, if there is such.  If the smaller time frame points to a steady range, but a wider look is bullish, buying in the low end is more favorable.  When the bigger trend is bearish, selling at the top is more favorable.

Breakouts

Other traders prefer a different strategy – they watch the flat range trading and wait for a breakout.  A breakout will usually yield a sharp move.  In some cases, the extent of the move is equal to the extent of the range.  This isn’t always the case though.

This pattern usually means more waiting and less trading – breakouts take a long time to boil, and they tend to be sharp and swift.

But, there are often false breaks, whereas the first move is just an initial test before the actual move.

AutoConnect is designed to combat dangerous impulse trading decisions by allowing users to autotrade with a portfolio of 300 automated systems.  When a trader chooses a strategy that suits their style, the buy and sell signals for that system automatically open real trades in their FX Solutions live account whenever a trade signal is generated.

The software allows Forex traders to control their trade size and risk tolerance independently for each system they subscribe to.  Customers can also combine multiple systems to create their own unique portfolio.

via FX Solutions Helps Traders Eliminate Forex Guesswork With AutoConnect – MarketWatch.

‪1 2 3 Trend Reversal Pattern – Day Trading Forex Live‬‏ – YouTube.

Just came across this expert adviser and thought I’d share it here.  I did not use it so I did not know how it performed.  Test it in demo account first.

This SILVER EA start trading one hours after NewYork session closing and opens trades for one hours. Open time duration for each trade is maximum 80 minutes.

 

 

via SILVER EA FOREX SYSTEM.