Trade the Eur/Usd with simple strategy
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  1. #1
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    Trade the Eur/Usd with simple strategy

    This is my simple strategy to trade eur/usd

    Rules :
    open the 1- hour chart.

    from the 1st hourly candle from the start of the day, till the 6th candle , mark out the high and the low .

    pending order buy should be +10 pips above the high
    pending order sell should be -10 pips below the low.

    stop loss will be :
    35 pips for buy/sell order, which ever triggers


    tp1: 25pips
    tp 2: 50pips
    tp3: 80pips

    remember to add spreads in your buy sell pending orders and in your take profits and stop loss.

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    Last edited by pak forex; 12-06-2013 at 11:01 AM.

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    I am a fan of fibonacci trading style, but i do not trade price action very well. As you have said that you are new to it, you need determined learning on them to know your way out. The pips you said is very reliable in near time if you get the right trend on the market or the reversal at that time, both are professional way of trading.

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    Rookie mohamed reda's Avatar
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    price action will be the best and the most simple strategy to make profits from this pair also trading following the trends will be helpful for us to make more profits with the lowest risk .i can say that all EUR pairs is the favorite pairs for any trader .

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    Quote Originally Posted by mohamed reda View Post
    price action will be the best and the most simple strategy to make profits from this pair also trading following the trends will be helpful for us to make more profits with the lowest risk .i can say that all EUR pairs is the favorite pairs for any trader .
    of course, price action is a very old and the best strategy which i am learning from one of the threads here in this forum. but i am basically a breakout trader, so i will share my trades and experiences over here so that more people can benefit from my trading style because , 'a friend in-need is a friend indeed' .
    in an hour or so, i will be sharing my charts and from tomorrow i will share my live pending orders here . please be active too.

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  5. #5
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    F you take a look at h4 chart there is lot of overlapping bar and support is around 1.3517 and I would like to tell you that a price action trader thinks of two thing one is is that reversal has strength and last engufing bar has strength and fail to create a new high is second good filter and the idea and we have a large horizontal bear flag from the bottom of 1.3290 to 1.3638 and trendline support is around 1.3465 and low risk reward opportunity to test that support with a stop at 1.3570 means a risk of 32 pips and chance to grap 75 pips with a high probability setup

    Price action technique is very powerful that tells you previous relation and reaction at the bottom or top. At previous top on h4 price consolidates and lot of attempts to break above high failed and a large bearish engulfing and Look at today h4 chart same reaction has happened that means previous time it trapped trader and now before which could be a big downfall trader scare of the same reaction and dont enter or enter with small stops which is very good strategy

    regards

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  6. #6
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    i think in this strategy take profit and stop loss should be lesser as it will become hard for this strategy to get to the 25 pips that easily and dpending on my way of trading i will just use higher lot size and the the take profit upto 15 pips only and stop loss @ 20 pips.

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  7. #7
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    Thank you for sharing your trading strategy about euro/usd.it's a good pair to trade with . it;s one of the most stable currency pair to trade.but i think your stop loss should be less you described about.

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  8. #8
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    This is a good strategy But i would like to mention one more thing mark the area totally and then look for break above or below and then see if that is area is tested with the next few candles with shooting star if we manage to break below and bullish pinbar if we manage to break above and if you found that it did then use the stop few pips below or above the testing candle as stop and look to book profit at the next swing which means that the candle open with asian session had momentum to carry it to next session and that completely describe the trend of the day specially if it is with the overall trend

    regards

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  9. #9
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    I think that i have seen this trading strategy here before, and it is better that you do not follow it just like that, the strategy might be simple but i can sure you that it is like say the trader is gambling towards the both side, it meas that you do not know the direction, you just trade with under chance, is this good for real trading? I will say NO.

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  10. #10
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    That is what all the mechanical systems are all about and specially when you dont know the importance of even a small bar in oveall context of the trade then you seems to look for such systems

    regards

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