Profitable Strategy
ok, this is a basic strategy that was given to me by a friend of mine many moons ago but stillworks great in the EURO/USD pair. Does it work every time? No. Does it work reasonably well to be profitable if you observe the openings? Yes it does!
The strategy is done with the 30 minute time frame. You take seven higher openings every thirty minutes (for example: at 6:00 a.m. the Euro was at 1.2450, then 7:00 a.m. it was at 1.2467, 7:30 a.m. it was 1.2469, 8:00 a.m. it was at 1.2490, 8:30 a.m. it was at 1.2499, 9:00 a.m. it was at 1.2508, 9:30 a.m. it was at 1.2530 and 10:00 a.m. it was at 1.2555) or seven lower openings in a row. In the case where you took seven higher openings every thirty minutes after the seventh you then sell (for the retrace or reverse). Conversly you would buy after the seven lower openings. You can usually book between thirty to fifty pips per trade, sometimes much more depending on your exit strategy. You can use a graph or simply use the price and mark it down on a paper. It is up to you. This is a EURO/USD strategy. Can't tell you if it works on other currencies, so use at your own risk. However I think you might be pleased at the results.
The strategy is done with the 30 minute time frame. You take seven higher openings every thirty minutes (for example: at 6:00 a.m. the Euro was at 1.2450, then 7:00 a.m. it was at 1.2467, 7:30 a.m. it was 1.2469, 8:00 a.m. it was at 1.2490, 8:30 a.m. it was at 1.2499, 9:00 a.m. it was at 1.2508, 9:30 a.m. it was at 1.2530 and 10:00 a.m. it was at 1.2555) or seven lower openings in a row. In the case where you took seven higher openings every thirty minutes after the seventh you then sell (for the retrace or reverse). Conversly you would buy after the seven lower openings. You can usually book between thirty to fifty pips per trade, sometimes much more depending on your exit strategy. You can use a graph or simply use the price and mark it down on a paper. It is up to you. This is a EURO/USD strategy. Can't tell you if it works on other currencies, so use at your own risk. However I think you might be pleased at the results.
No comments:
Post a Comment