Simple Forex System Trading

If it passes, I think I’ll move my accounts to UK then.  10 to 1 leverage seems absurd.

More details @ fxstreet blog

This month, we ended up with 2 wins.  One short of the targeted 3 wins we’d like to have each month.  Still, it’s not too bad by adding another 3.6% gain to the total.

The trading results look as follows:

Account:  Oanda

1/4:  +1

1/5:  No trade

1/6:  0

1/7:  -1

1/8:  0

1/11:  +1

1/12:  +1

1/13:  -1

1/14:  +1

Found another breakout system that based on one bar in a 4 hour chart.  The author uses this method to trade GBP/JPY.  Looks like the result is not bad at all.

So basically, in a 4 hour chart:

• Take the high and low of the second bar of the day. (GMT)
• Calculate number of pips between the high and the low.  (High - Low = Channel; e.g. 160.00 - 158.50 = 1.50 –> 150 pips)
• If channel is more than 200 pips, no trade for the day.
• If channel is less than 200 pips, place buy 10 pips above the high & sell 10 pips below the low.
• Take Profit = buy order + channel (e.g. Buy @ 160.10, channel = 150 pips, Take Profit = 160.10 + 1.5 = 161.60)
• Stop Loss = buy order - channel (e.g. Buy @ 160.10, channel = 150 pips, Stop Loss = 160.10 - 1.5 = 158.60  )

Read more about this strategy @ forexfactory

Found this very nice article on how to use MACD in the daily Forex trading.  Particularly, I love the MACD divergence & convergence strategies sections.  Personally, I like to use Awesome Oscillator divergence on the one-hour chart to trade Forex but many traders prefer MACD.

Read the MACD trading strategy article @ forexoma