Hi all,
time for another simple system, this isn't something new. Sorry if there is already a thread with a similar system.
When I say simple, I mean simple. No need for indicators, I've never saw any need for them.
Just let the market come to you.
Ok, here we go. We need the 4h chart, I trade the EUR/USD only (at the moment).
Rules
1. Take the High and Low from the 4h candle which starts at GMT 07:00 and ends at GMT 11:00.
(I'm from Germany so this is 08:00 to 12:00 local time -> GMT+1)
2. Place a stop buy 2 pips (+spread) above the high and a stop sell order 2 pips (+spread) below the low of that candle
Take profit: (High-Low)/3
Stop loss: (High-Low)/3
So take the 15th of July as example. The 4h candle (starting at 07:00 GMT) had a high of 1.6038 and a low of 1.5925
So we place a stop buy order at 1.6044 (2 pips above high + 2 pips spread) and a stop sell order at 1.5923 (2 pips below low - please remember, MT4 charts are Bid-prices only...) at 11:00 GMT where the 4h candle ends.
Take profit: (High-Low)/3 = (1.6044-1.5923)/3 = 40 pips
Stop loss: 40 pips
Both orders have the same TP and SL and are valid until 11:00 GMT for the next day. At that time you have the next candle where you set the new orders.
That's all. Simple and profitable. Max 2 trades per day, sometimes (rarely) no trade, most of the time 1 per day.
This will work for other pairs as well, but I haven't tested it yet.
Regards - Xaron
time for another simple system, this isn't something new. Sorry if there is already a thread with a similar system.
When I say simple, I mean simple. No need for indicators, I've never saw any need for them.
Just let the market come to you.Ok, here we go. We need the 4h chart, I trade the EUR/USD only (at the moment).
Rules
1. Take the High and Low from the 4h candle which starts at GMT 07:00 and ends at GMT 11:00.
(I'm from Germany so this is 08:00 to 12:00 local time -> GMT+1)
2. Place a stop buy 2 pips (+spread) above the high and a stop sell order 2 pips (+spread) below the low of that candle
Take profit: (High-Low)/3
Stop loss: (High-Low)/3
So take the 15th of July as example. The 4h candle (starting at 07:00 GMT) had a high of 1.6038 and a low of 1.5925
So we place a stop buy order at 1.6044 (2 pips above high + 2 pips spread) and a stop sell order at 1.5923 (2 pips below low - please remember, MT4 charts are Bid-prices only...) at 11:00 GMT where the 4h candle ends.
Take profit: (High-Low)/3 = (1.6044-1.5923)/3 = 40 pips
Stop loss: 40 pips
Both orders have the same TP and SL and are valid until 11:00 GMT for the next day. At that time you have the next candle where you set the new orders.
That's all. Simple and profitable. Max 2 trades per day, sometimes (rarely) no trade, most of the time 1 per day.
This will work for other pairs as well, but I haven't tested it yet.
Regards - Xaron
