Simple Forex System Trading

The method was originally posted here. 

I’d like to make some updates to this method.  Currently, the settings are:

Time Zone Used:  GMT

Reference Price:  Open Price at 23:00 GMT

Buy Limit:  Reference Price - 7 pips

Buy Take Profit:  7 pips

Buy Stop Loss:  17 pips

Sell Limit:  Reference Price + 7 pips

Sell Take Profit:  7 pips

Sell Stop Loss:  17 pips

I found that the Buy Limit and Sell Limit can be modified depending on your brokers’ spread and your trading style or preferences.

So, with that said, you can adjust your buy limit or sell limit as follows:

Buy Limit:  Reference Price - (7 to 10) pips

Sell Limit:  Reference Price + (7 to 10) pips

The rest of the settings remain the same.

You can find the method here.