Start Strategy - Trading WITHOUT Technical Analysis
Hello, dear visitors of our forex portal! We all know that most trading strategies are based on technical analysis. For a trader, this means tracking indicators, candlestick patterns, etc.
But does this approach give confidence to the trader? Not always, because it is very important to understand WHY you need to buy or sell, and not just enter the market at the intersection of X and Y lines. The system "Start" entirely based on the usual logic, understandable even to a child, and the behavior of the bulk of traders. That gives it a solid foundation and allows you not to be distracted by graphic analysis.
Forex Characteristics of the Beginning Strategy
Currency pairs: EURUSD, AUDUSD (on other pairs the results are worse)
Trading time: Once a day, at the beginning of the London session
Recommended DC: Alpari, RoboForex
In the first half hour after the opening of London, the market is inundated with bids, which in total give an impulse that determines the movement for the next few hours, until European traders leave for lunch.
It is this impulse that we are trying to catch.
30 minutes after the opening of London, as soon as the half-hour (M30) candle closes, set points 5 above its High point and below its Low point pending buy stop and sell stop orders, respectively.
We do not set Take Profit, stop loss is at the level of the opposite order. Those. if a stop loss on purchases is triggered, sales automatically open and vice versa.
We close all positions and remove the non-working deposits after 2.5 hours (5 candles M30), when the merchants begin to prepare to leave for lunch.
With the closing time, you can experiment a little. We don’t know exactly when, up to a minute, traders rush to a business lunch 🙂
Recommended Money Management
In 1 transaction, you should not risk more than 3% of the deposit. Although, under this system, unprofitable transactions, if any, are of a small size, but do not forget that they WILL be. And risking a large share of the deposit is simply stupid.
Forex is a boring routine, you do not need to turn trade into a casino.