a Trade a Day
Forex Strategy 1 Trade a Day
Forex Strategy 1 trade a day - another break-out strategy for forex transactions which are only 1 time per day - namely, at the closing and the breakdown of the Asian session, to the same trade is conducted only on currency pairs, associated with British Pound - GBP (gbpusd, gbpjpy, gbpaud, gbpcad, gbpchf, etc.), as following the Asian session opens session in London.
1. For a trading strategy Trade a Day, we need to schedule for the chosen currency pair to set the indicator ant-GUBreakout_V.0.4.2.ex4 - it will indicate to us beginning and end of the Asian session , the following indicator parameters: < / p>
GMTShift - a shift from the time of your brokerage GMT
Start - the start time "boxes" (0:00)
End - End Time "boxes" (8:59)
Offset - the indentation of the box for placing orders 5-10 points (take a maximum of 10 - to 4-digit DC, type Forex4you and 100 - to 5-digit DC such Alpari)
2. And as for trade, we need a tool Metatrader 4 - lines (levels) Fibonacci , with the levels (0, 50% and 100 %).
The strategy forex a trade a day the following:
1. Wait for the closed box, "the Asian session," and on her stretch of Fibonacci, so that the level of 0 and 50% were at the extremes of the resulting box.
2. Fibonacci build in 2 opposite sides, an example look at the picture:
3. Level 100% will indicate to us for our profit target .
4. After closing the box, set on the 1st order on each side of the box - to buy and I sat down, with orders Buy Stop and Sell Stop set at a distance of 5-10 points of maximum and minimum of the resulting box.
5. Stop-Loss are putting on the opposite side of the box.
6. If an order is opened, the second immediately remove, because trade is only 1 per day !
1. Warrants close only on stop-loss or take-profit - no matter how many days will be an open position!
2. As long as the open order for this strategy is not closed, the following order was not placed!
3. There is also an option to choose:
a) if the order is not closed at the end of the trading day - at 00.00 GMT, it is close to the current market price.
b) if the order is not closed at the end of the trading day - at 00.00 GMT, the translation of the stop-loss level at or near bezubytka fractal and look forward to closing the position by stop-loss or take-profit. < / p>
1. Can optionally convert the position to breakeven with a trailing stop when you reach + 30% - 50% in profit on the size of the box.
2. Well, well, you can make restrictions - do not trade, if the size of the box was more than 120 points, as in these boxes, likely closing the stop-loss, to the same stop-loss is obtained by a sufficiently large!