Daily Forex System very accurate

HI

I am goig to share with you a method for the daily charts

it can be used from the 1 hour timeframe to daily timeframe

just depends on what timeframe you use m depends on if you are a scalper or day trader

the idea is to use the 30 ema as trend

when you see the up candle above the 30 ema after a down candle enter and hold for 2 days

i use a 50 pip stop loss

exits vary from 50 - 200 pips on the daily

this is used on EU

you can try other pairs

see EU attached

GU pair would need 100 pip stop or colour change ,


the trade only lasts 2 days

if you enter then wait until there is either a take profit 2 days later , or if the next day after the entry closes opposite colour exit ASAP

Capital preservation is key

follow the rules

don't change it

50 pip stop loss at 5% of the account max risk

dent risk anymore than 5% on any entry

So 100 pip win is 10% do that 4 times a month and you makke 40% return

all you need is 15% a month to be consistent

In regard to the entry on the daily time frame, you really need to be specific.

So, no one knows if it is an up or down day until it closes; therefore, technically, you can't enter on the "close".

The way you drew those lines on the example imply that you are buying at the open of that day, not possible.

You can only enter at the open of the next day.

Then you said to hold for 2-days but gave no exit criteria; is it just before the close of day 2?

Or the open of day 3?

I mean, come on, you can't claim to be "very accurate" and post inaccurate criteria - oh, the irony!

Good luck, hope you get many pips.

LOL

of course the entry is on the daily close not yesterdays close LOL

see what i posted

so yes buy at next days open

Good that you saw the issue, and also Moderator decided this is not a System as they moved the thread to Journals.

Good Luck.