I am sharing another simplest strategy for H1 trading, you can try anytime but most profitable between 5 AM to 11 AM EST.
If you do not want to spend more than 10-15 minutes daily for stress free trading then please stop reading this thread and visit my other thread (http://www.forexfactory.com/showthread.php?t=600112) .
Lets talk about H1 strategy now
- SMA 5,0, close
- BB 20,0,2,close
Time Required - EA will send alerts, initially we will take positions manually and later we will start using EA for trading too
- Risk - Positions more than 5% of account value and do not take multiple positions on same pair, even setup is 100% correct
- Sideways pattern
(Updated on 17-Dec-2016)
- Long - SMA line should in upward direction
- Short - SMA line should be downward direction
- Ignore Flat SMA
- Long - When previous H1 bull candle has clearly crossed BB main line and SMA is above BB main line.
- Short - When previous H1 bear candle has clearly crossed BB main line and SMA is below BB main line.
- Candle should not touch the upper/lower BB line (Optional)
- high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle.
- Take 2 positions of same setup, and close the first setup after taking profit and leave the another setup to run forever
- Keep moving SL for second position as per S&R
- Second Position - You may exit when candle touches/cross BB top/bottom line.
- Second Position - You may exit if you have minimum 3 candles profit as part of 1:3 strategy.
- You may exist on breakeven if setup goes in opposite direction.
I am attaching following EAs (Updated version - 09/17/2016)
1. Bk8-H1-Alerts - This EA will notify to your phone if configured on your MT4 account. Trading is disabled for now.
2. Bk8-H1-Test - This EA has trading enabled but please use it for backtest only.
Backtest result for EURUSD is 74% profit!
You may try this strategy on old charts, Good luck!
Disclaimer : USE OF THIS THREAD/SUGGESTIONS AT YOUR OWN DISCRETION AND RISK AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY LOSS!