DislikedHello guys!
I would like to share this simple but effective system with you. I'm not an author of it but use it quite successfully. Hope for some of you it will give a nice profit specially for those who is not a full-time trader and has only limited time to trade. OK here it is:
Buy Rules
1) Daily Charts with NO Indicators
2) If price has 3 consecutive days where the Close is higher than the Open, on the OPEN of the 4th candle, Initiate a Buy Order.
3) Stop is 2 pips below the previous candle, or 90 pips (whichever is lower)
4) Take Profit is in 2 steps...
a) Take half profit at 30 pips and move stop to break even
b) Take remaining profit at 100 pips
Sell Rules
1) Daily Charts with NO Indicators
2) If price has 3 consecutive days where the Close is lower than the Open, on the OPEN of the 4th candle, Initiate a Sell Order.
3) Stop is 2 pips above the previous candle, or 90 pips (whichever is lower)
4) Take Profit is in 2 steps...
a) Take half profit at 30 pips and move stop to break even
b) Take remaining profit at 100 pipsIgnored
Thanks.
Hans