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Forex Strategy “10 pips”

Forex Strategy "10 pips" - Forex-Strategy-10-pips_1-300x170Maximum and a minimum of the previous trading day are regarded as a base of strategy. Most of the traders consider, that if maximum level of previous day extends is record high, then a price will go up,  and on the contrary for a minimum level.

Knowing these facts, we also will earn the profit if we will open the transaction with  purchasing, at breakdown of a maximum of previous day and with  sale, at breakdown of a minimum of previous day.

But because other category of traders uses the same 2 points as support and resistance level,  the price will not always move aside of breakdown of  maximum and  minimum of last day, that’s why it  is a necessity to use Stop Loss of  the fixed size.

Recommended currency pair: EURUSD.

Recommended timeframe: Н1.

The exposed pending orders are valid from 00.00  GMT till 00.00  GMT next day.

1. We expose at 00.00  GMT 2 pending orders  – 1 on Buy ( above of the maximum of previous day +3 points ) and 1 on the Sell ( below a previous day minimum – 3 point ).

2. We establish Take Profit – 10 points.

3. We establish Stop Loss – 30 points.

Forex Strategy "10 pips" - Forex-Strategy-10-pips_11

It is important! It is necessary to pay attention only to 1 crossing of a maximum or a minimum during trading day : if the pending orders were closed on Stop Loss or Take Profit we can’t expose any other pending orders ).

The recommended risk is 3-5% from each transaction’s deposit.

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Rating: 6.9/10 (16 votes cast)
Forex Strategy "10 pips", 6.9 out of 10 based on 16 ratings

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