Hi there,
Just a basic thread to give you the highest probability (as far as i know of) in your trading and at minimum amount of time per week too. This method is good for people who have 9-5 jobs and do not have the time to trade all week or non-addicts at least.
The pair to trade is GBPJPY and the setup is on a 4HR chart.
Step 1: Wait for the first candle to close and place a sell stop at the low of the candle and a buy at the high of the candle. Use a TP of 100 pips and the initial SL should be set at the bottom/top of the candle.
Step 2: Once one of the orders have been activated, close the other order
Step 3: Wait for the candle that executed the trade to close and move your SL to the high or low of the candle as the case may be.
Step 4: Wait for your TP to be hit and close your chart until the next week to get another 100 pips or trade as you normally do every week.
This method works most of the time because the day is still young and there's no news yet to give the market a panic attack.
PS: Sometimes the market may reverse on the 3rd or 4th candle but that's ok, you can then repeat the same process on the reversal candle and get your 100 pips the other way. As at the week i wrote this, i have already been paid my 100 pips (which could translate to $100 or $1,000 or even $10,000 a week!) let the others figure out the magic of the news in the week.
Hope this helps those who wish to make consistent profit.
Just a basic thread to give you the highest probability (as far as i know of) in your trading and at minimum amount of time per week too. This method is good for people who have 9-5 jobs and do not have the time to trade all week or non-addicts at least.
The pair to trade is GBPJPY and the setup is on a 4HR chart.
Step 1: Wait for the first candle to close and place a sell stop at the low of the candle and a buy at the high of the candle. Use a TP of 100 pips and the initial SL should be set at the bottom/top of the candle.
Step 2: Once one of the orders have been activated, close the other order
Step 3: Wait for the candle that executed the trade to close and move your SL to the high or low of the candle as the case may be.
Step 4: Wait for your TP to be hit and close your chart until the next week to get another 100 pips or trade as you normally do every week.
This method works most of the time because the day is still young and there's no news yet to give the market a panic attack.
PS: Sometimes the market may reverse on the 3rd or 4th candle but that's ok, you can then repeat the same process on the reversal candle and get your 100 pips the other way. As at the week i wrote this, i have already been paid my 100 pips (which could translate to $100 or $1,000 or even $10,000 a week!) let the others figure out the magic of the news in the week.
Hope this helps those who wish to make consistent profit.
Less is more...
