Who’s online Setup forex account and make trade are currently 10 users online. Submitted by Edward Revy on April 29, 2007 – 08:11.
Ready to dedicate your midnight hour to Forex trading? This strategy can be your winner. This system is based on the fact that most of the time you won’t find same size candles for 2 consecutive days on a daily chart. 90 pips long we will not open new trades the next day. While an Inside bar candle implies a good breakout opportunity the following day, it can also be a dual whipsaw breakout – a break in both directions – the most unwanted scenario for our trading system. 5 pips, and Sell stop order at the bottom -5 pips.
Put your stop loss order for a Long entry at the lowest price of the previous day -3 pips. These additional pips for entries and stops can also be adjusted once you learn the behavior of a chosen currency pair over the time. 100 pips, then you may close current position to reward yourself. Rewarding is a very powerful tool, use it. 100 pips in profit, while the second one will be left to run till we get stopped out, thus allowing us to collect everything the market is willing to offer.
Doji candle or is almost a Doji. Also close your open trades if you’ve met a Shooting Star candlestick in an uptrend or a Hammer candlestick in a downtrend. On May 1st at 00:05am, we opened a daily chart and it was a downtrend. The same day our Sell order gets filled.