High Quality End-of-Day forex Trading Systems
What is a trading system?
Why End-of-Day?
I trade or traded them at different times, depending on market conditions and my time availability, with varying results. These are solid systems that provide an edge, if traded consistently and with high quality AND they can be traded end-of-day or with a minimal attention during the working day.
"SDH1" Supply & Demand on H1 timeframe, traded end-of-day
Why End-of-Day?
Here is a review of the systems I trade or have traded
I trade or traded them at different times, depending on market conditions and my time availability, with varying results. These are solid systems that provide an edge, if traded consistently and with high quality AND they can be traded end-of-day or with a minimal attention during the working day.
"SDH1" Supply & Demand on H1 timeframe, traded end-of-day
"Morning breakout" very fast & simple intraday trading system
Summary: look at the market around 9:00 am CET, if there was a clear trading range during the Asia session, keep an eye for a breakout. If there is a clear and strong breakout, wait for a correction. Then, place a buy stop above the breakout high (or sell stop below breakout low), stop loss roughly 25 pips (depending on pair and volatility and range height), take profit distance same or even slightly less than stop loss. It works! It requires 3 minutes to place an order and glance at the chart every 15 minutes after 9.00 am.
"Pattern at level with trend" simple price action trading system for D1 or H4.
Summary: look for a strong reversal candle patterns (pinbar, engulfing) at a key support and resistance levels, in line with the trend. If there is a candle pattern, at a key level, in line with the trend, enter at market, stop loss roughly 10 pips below/above the pattern low/high. Take profit for half the position at 1R (stop loss distance), move the stop to break even, and trail the stop manually below/above recent S/R levels. That simple. I did not say easy.
"Price action trading", very consistent with the above, with more details, see this post!
"Channel Breakout" trading system, simple trend following system, that I trust it has an edge, and is very well and clearly defined. It is so simple and well-defined that it could be almost traded in a mechanical way.
I believe that any trading should follow a trading system
System should be traded with High Quality
following Top Trading Rules
from Top Trading Books.
System should be traded with High Quality
following Top Trading Rules
from Top Trading Books.
How do "discover" the trading system right for you? Search, create, and test, test, test.
How to create a trading system? See building blocks, trade open setups and more.
How to test and Qualify a trading system? Read this post.
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