MY TRADING STRATEGYNO-2
After i post my 1st stratagy .. i get some good comment .. on that and get good response..
but traders are asking me.. that its need to wait .. and its need watching when the signal is coming.. so those are do working .. business. job.. they are not able to use my 1st strategy ..
so here i discuss my 2nd Strategy.. with them..
fist of all its a very simple trading strategy .. u dont need to watch the market full day.. and dont need to analysis the market..
what u do..
its usable in any pair..
timeframe- daily chart.
order type- pending order.
use the stop loss. and take profit. with the expired time..
here is the formula..
at the time 6-7gmt ( insta forex time )
open the terminal mt4 or any terminal .. with daily chart..
chek the price..
open price, high, low, current
now the formula for given the buy pending order.
pending type: buy stop /limit
entry price: high + 10pips
take profit: entry price +15pips
stop loss: entry price - ( 20, or 25 or 30 or what ever u want .. but i prefer 30pips)
expiry: current date with time 22
NOw the formula given for the sell pending order
pending type: sell stop/ limit
entry price: low - 10pips
take profit: entry price -15pips
stop loss: entry price + 30pips
expiry : current date with time 22
this is the formula for given the pending order..
when u given buy pending order...
if u see on daily chart.. today candle is current price is lower than the opening price.. then u given the buy pending order
when u given sell pending order...
if u see on daily chart.. today candle current price is higher than the opening price .. then u given the sell pending order.
expired time is for .. given .. if on that time the order is taken .. that means the price is not hit.. than after the that time .. the pending order is cancelled.
..............................
as an example..
we given the pending order on the basis of today chart.. basis
ok
today daily chart ... eur/usd
open - 1.3361
high- 1.3376
low- 1.3330
current price- 1.3351
Attachment 734
so market open price is greater than current price.. so we given the buy pending order..
what is the order..
order type: buystop
entry price: 1.3386 ( high + 10pips) ( 1.3376+10pips)
take profit : 1.3401 ( entry price +15pips) (*1.3386+15pips)
stoploss : 1.3356 ( entry price -30pips) ( 1.3386-30pips)
expiry- 4 /2 /2012- 22.03
Attachment 733
now we will be chek it tommorow .. what happend...
all the suggestion is welcome