Forex Trading Strategies and Tips
Uploaded by
Jane KingstonForex Trading Strategies and Tips
Uploaded by
Jane Kingstondont calculate profit by money
for 50 aday. lot size shld be between 0.5 for one trade or .25 for two trades.
use midnight trades +/-5
also put a trade below the spikes
15min trade- best use for sunday hi/lo
never try predict the market
time of entry shld before 7 am.
on daily chart time separator is one month
4hr is one week
1hr is a day therefore use 15 mins
Draw lines for 4hr
*****Usually if they are three rejections it will go the other way
Weekly pivots
Year hi/lo so far hi--- 1.37718 and lo1.3479
stop losses
sunda hi lo is crucial put a buuy at hi, sell at low; and midnight is lo the nxt day put ur take profit
by the sunday lo.
80-20 rule
How price reacts to big time frames---- dont use as a strategy!!
It helps u to determine possible places prices go
1
st
day of the year and monthhas a lot of momentum
If itakes the previous day hi/lo deteremins whether it is going to sell or buy
Place a buy/sell above/ below the rounded figure
5/1/2014--LOT SIZE OF .5PUT IN TRADES BY 6:06 AM. USING MID HI-LO--MIDNIGHT BUY WAS small
sell~2pips
News
8:30 Manufacturing PMI GBP --WENT IN TO BUY THEREFORE TOOK MY PROFIT --went up 40 pips.
12:30 USD UNEMPLOYMENT/ YELLEN SPEAKS--no impact--very minimal
172114
EUR/USD- LOT SIZE .2
Buy- 1.3874
Made 23.60----i SHLD HAVE USED 15MINS INSTED OF I HR. WOULD HAVE GIVEN ME A CLEAR VIEW--
CLOSED TOO EARLY
ALSO IF THE BAR FORMS TO THE HIIGHEST PEAK IN THE MID HR CLOSE IT!
SELL 1.3862--
GBP/USD- LOT SIZE .3
BUY 1.68824- TOOK MY PROFIT AFTER NEWS--MADE 48.9O
SELL-1.6866---CLOSED IMMEDIATELY AFTTER BUY PROFIT
5/2/2014--MIDNIGHT BAR WAS A LARGE SELL
TRADE WAS PUT IN AT 2:30
News
us Npm farm
AUD ppI/q/q not much impact--negligible
EUR/USD- LOT SIZE .2
BUY-1.3874- (JUST ABOVE THE DAILY PIVOT 5PIPS) LOT SIZE WAS 0.5
SELL~ 1.3853( BELOW FIRST SUPPORT)LOT SIZE 0.3---TOOK MY PROFIT AFTER THE NEWS
NEXT TIME PUT A SELL AFTER SUNDAY LO
*** always stick to the midnight hi lo ranges
5/5- Monday was really slow didnot make anything
5/6
I put in trades for aud/jpy
buy 94.912@lot size 0.3
sel 94.719l @ lot size 0.5--this is because I had to run a counter trade to break even
5/7
I put a buy @ 1.39300 of 0.2 and a counter sell @ 1.3906 of 0.4
the take profit for the buy and the stop loss of the sell are almost at the same spot.
News Yellen testifies 2:30---
5/15
I put in a buy and a sell using midnight hi and lofor the cable and eurusd.
Cable
Buy 1.6778 TP:1.6798 SL: 1.6748
Sell 1.6760 TP: 1.67900 sl:1.6734 MADE PROFIT
EUR/ DOLLAR
Buy 1.3725TP 1.3695 SL 1.3745
Sell 1.3710 TP1.3690 SL 1.3740 MADE PROFIT
SHLD HAVE LEFT BUY IN
6
th
June 20