Simple Horizontal Line Trading H1

Hi all,

I will introduce my self first,
I have been trading stock market for over 3 year and start trading forex for 1 year.
This method is not a new method that i create, i just improve from others trading systems to suit my own trading style.
I'm not a profession trader, I still in a learning process.

My Strategy is using H1 Time Frame, SMA 50 and Horizontal Line rounded number 25 pip (000, 250, 500, 750).

Rules of Entry:

Long Position:
- Price above SMA50,
- Pending buy order at the Horizontal Line above the SMA50 (000 / 250 / 500 / 750), Usually give 3 pip above the horizontal.
- Target 50 Pip, SL 30 Pip (R:R = 1 : 1.5)

Short Position:
- Price Below SMA50
- Pending Sell order at the Horizontal Line below the SMA50 (000 / 250 / 500 / 750), Usually give 3 pip below the horizontal.
- Target 50 Pip, SL 30 Pip (R:R = 1 : 1.5)

more rule:
- I don't take the trade when the horizontal line is to close to the MA50
- Move the SL to BE+1 / BE+5 when the price goes to your TP direction (after 10-15 pip)

Here are some example of the chart that i use.



On the next post i will show how to enter the trade.

Feel free to comment,

Fx-Ken

I'm using the same chart that i post above,

At the left side of the chart you can see that the price is moving below the MA50 line.

I will put my pending Sell order at the price 1.26780, TP 1.26250, SL 1.27030 (I add 3 Pip for my Entry and SL for Spread)

The Red Box that i draw is the Entry and when the TP reach.

sometimes in a sideway condition this method not work very well but you can set the TP to 25 Pip and SL 25 Pip (RR 1:1)

and on the Right Side of the chart you will see the price moving above the MA50. I put the Blue Box as my Entry and TP / SL reach.

Here some other chart example.

Sometimes the price will hit your SL and goes to other direction,
you can buy at the same time or wait for the next time price move above or below the horizontal line.
but for me i prefer 1 trade each so i wont buy straight away when my SL hit.

This chart is the example of the perfect condition when down trend.



Other Example.



Sideway Trend. 25 PIP SL TP (you will get stop out a lot when Sideway, so becareful when the trend is sideway)

Please comment or give suggestion to improve the trading system.

I will try to update my next trade. (Pair that i Trade usually GPBUSD & EURJPY)

I'm not a full time trader so sometimes i miss some trade too because i have other business that i maintain.

1 more rule to add I don't trade when the horizontal line is to close to the MA50

Here are example chart GPBUSD for last month if using the trading rules that i said above.



Note: I'm not taking all the trade, some of them miss because I only trade at Asia to London Time.

20 Trade, 11 Win, 9 Loss (55% Win Rate for last month) with 1 : 1.5 RR
11 x 50 Pip = 550 Pip
9 x 30 Pip = 270 Pip
550 - 270 Pip = 280 Pip Profit

you can back test it by yourself.
I don't how to make EA or anything so i always using manual back test.
Please use Demo account first before Live, because market not always the same.
Last month may give you a profitable result, but we wont know the next month.
I have been trade using this method since 3 months ago, my risk is 2% of my deposit.

GBPUSD

Short trade 1.26750

TP: 1.26250 (50 PIP)
SL: 1.27050 (30 PIP)

Attached Image (click to enlarge)

Are you using Tro’s Sweet Spots Gold indicator?

Yup, I'm using that and set it to 25 in 1H chart.

GBPUSD

Short trade 1.26750

TP: 1.26250 (50 PIP)
SL: 1.27050 (30 PIP)

SL HIT because of spread (my spread around 1.8 - 2.2 for GBPUSD)

Notes: I move to BE+5 when it goes above 10-15 Pip (the chart already goes around 20 pip)

Attached Image (click to enlarge)

Yesterday I also take EURJPY but close my profit at +5 because the market goes sideway.

Another opportunity for short GBPUSD,

You can adjust to 25 Pip TP because the MA is still going straight (sideway)

Short trade 1.26750

TP: 1.26250 (50 PIP)
SL: 1.27050 (30 PIP)

GBPUSD

Short trade 1.26750

TP: 1.26250 (50 PIP)
SL: 1.27050 (30 PIP)

SL HIT

Can you post the Tro indy?

What round number do you recommend for the daily TF?

Sorry for the late reply,

I have been busy lately, for daily TF i think 100pip is a good one, or you can split 50 & 100 pip for TP
in daily TF your setting is 10, because if you set 100 it will set 1000 pip.

I don't have access to my pc because I'm in a businesses trip,
But i think you can find it at other post in FF. just search for SweetspotsGOLD

in the past few days this method wont work because the market goes sideway for GBPUSD & EURJPY

if you set target to 25pip you still can get some profit. better to wait for the market to go a strong new trend

For daily TF we have one cons, when the price goes downtrend after an uptrend sometimes the price not move below the MA50,
you can tweek the MA if you want but not below 20 i guess
or you can use H4 TF when the price start going to move in different direction (if you want to catch the reversal)

and right now we are in a sideway condition, even in daily TF we wont have any trade in the past few days

i draw the line manually, so the round number is abit off.

Hi,

Making transaction at price levels 00, 25, 50, 75 is a good trading method. I use Candle Point O.

regards

Hi JarFx05,

Our method looks pretty similar.

Hope it works well too.

Ken

Yesterday GBPUSD & EURJPY make a good Downtrend,

Chart GBPUSD H1:

good 50 pip (goes until 90+ Pip)



Chart EURJPY H1:

good 50 pip in 3 days time / 2 day if you enter at 122.250

Here are some example of H4 MA50 100 Pip Setup,

It's similar to JarFx05 method to enter at 00 level

GBPUSD (sideway market not reach 100 pip target)



EURJPY (reach 100 Pip target twice last 2 week)

Attached Image (click to enlarge)