All,
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
Indicators
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
Indicators
- 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
Avoid
- 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
Entry
- 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)
Stop Loss
- high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle.
Take Profit/Exit
- 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!
Attached File(s)
I started forex trading almost 2 years back on 1M to 4H charts but 6 months back I realized that sooner or later serious traders have to ditch small timeframes and start D1 trading for the consistent profit and stress free trading. 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 old thread (
