Forex Factory Simple Trading Strategy

Today I want to show everyone a very simple yet powerful trading strategy that I saw in Forex Factory. For this strategy you don't need any indicators and all you need is a live forex chart.

This system can generate a daily profit of about 30-50pips 
It is made for the U.S trading session.


Here are the stages for setting up the system:

1. Use the M15 Chart for a USD Major pair, example like EUR/USD.
2. Add a vertical line at 14:00 (EST) time on your Chart.
3. Add a vertical line at 16:00 (EST) time on your Chart.
4. Make a Horizontal line at the low of candles in the range.
5. Make a Horizontal line at the high of candles in the range.

Now you should have a square or a rectangle drawn in your chart which is a typical range. All you need to do to complete the trading system is place sell stop at the low with stop loss at the high and a buy stop at the high with a stop loss at the low.

Ideal Targets: You should aim for about 30-50pips but if you think it will go stronger then just leave it with no targets. You can also use a 15 pip trailing stop if you have that feature.

 

Trading system was first found in Forex Factory. Please comment if you find the system profitable.

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Comment by Jonathan Wiggins on March 23, 2014 at 10:03pm

thanks

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