In this article I will be sharing a very simple Forex trading system. This can be used on the 1 minute or 5 minute chart and if done right, can prove itself to be very profitable. My plans for this are to set out a trading strategy and to also accompany it with a Metatrader 4 Expert Advisor.
Stop loss and take profit The most challenging thing for a trader is when to let go and sell, be it a loss or a profit. When executing the order, set your stop loss to be about pips and the Take Profit to be about the same. The lower the spread the better.
Under 2 pips is ideal. The Stochastics Especially for beginning traders, what to set each indicator to can be a confusing and daunting task. The following are simply guidelines to push you to your own path. This stochastic is use for determine the buy and sell trading signal in short term time frame. This stochastic indicator is use for identify the buy and sell trading signal in medium term time frame.
This stochastic indicator is use for identify the buy and sell trading signal in long term time frame. When all of stochastic oscillator lines are in oversold level Under 20 , and the signal line crosses over the main line in an upwards move. When all stochastic oscillator indicators are in overbought level Over Open a short position sell order and hope it hits the pips quick. Avid outdoor and athletics. Passionate about politics, video games and life. Good article, thinking of building an EA myself with these settings.
Chaos Mistress is the mainstay writer and editor of The Chaosrift. On March 21, In Politics. Tell us how you really feel!More...