Sunday, July 25, 2010

5 Min Forex Trade Strategy

I trade GBP / JPY and other currencies at this simple method for some time now and has been successful 90% of the time, the only time failure is when a spike up or down on News, I discourage anyone to stop using these 30 minutes before and after the new escape Whipsaw. This method should work well on all couples, but because of the high votality and movement, I love working on GBP / JPY pair, gives a very high risk to reward ratio. For couples, apart from GBP / JPY, you must test the TP and SL abit.
The most important one for success is to stick to the rules at any time and enter the trade when the indicators or that give the signal. Please review the rules properly and do not enter the trades just for the pleasure of entering even wait for the right signal itself and sustain itself is a profession in itself. If you follow the rules of entry, I assure you that its rate of profit will be up to 90% Personally, I think it works best from 7:00 GMT to about 20:00 GMT. I added the Pivot indicator as very useful for finding the expected levels of support and resistance without much headache. In general, you should look to Long the Currency if the price is above the pivot line and short if the price is below the pivot. I'll explain more as we go along.
Indicators used:
Laguerre (input) - Gamma 0.60, 0.15 levels, 0.85,0.45 bars to read 9500 color (blue file name is Laguerre ACS1.ex4) Laguerre (output) - Gamma 0, 80, levels 0.15, 0.85, 0.45 bars to read 9500, red (file name is of Laguerre-ACS1.ex4) for GAL Enable fixed maximum (~ 1.05) and a fixed minimum (~ -0.05) in the common tab Laguerre indicator Bollinger Bands close (default) (This is a very imp indicator uptrend in mid-Bollinger support acts downward trend and acts as resistance) EMA (red) and EMA 60 (blue) to find support and resistance levels

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