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Given the interest last month's article generated in the community, this month I tried to come up with a short term strategy that shares the same principles: price action only (no indicators), as simple as possible to trade (perfect for beginners and experienced traders alike), no ambiguity or subjectivity in it's rules, and, of course, reasonably profitable. This is a complete strategy, with entries, exits, money management and position sizing. ______________________________________► Time and volume in the Forex market Even though Forex is a 24-hour market, the volume traded is not the same all the time. The largest Forex trading centers are, in order, Europe/London, New York, and Asia/Tokyo, with the highest volume occurring when the London and New York sessions overlap (currently 13:00 to 17:00 GMT), even for currencies which are not native to these time zones, such as the Japanese yen, or the Australian dollar. On the other hand, the lowest volume (which usually leads to wider spreads and more erratic price moves and spikes) is seen after the close of the New York session (22:00 GMT), those two hours before Tokyo opens. So why is this information useful? Because any int…
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zande avatar
zande 27 June

How long do you give the market time to come into the trade? Do you cancel the orders when they dont go online in a particular time?

Thanks for all

Alex

zande avatar
zande 27 June

I wrote you also an email but i dont know if I wrote your email adress correct
muthamilpharm and then the normal g m a i l  dot  c o m

Roberto3 avatar
Roberto3 17 July

very nice! I studied this strategy and formulate mine, and created an Expert Advisor! It works very well!
look here , what do you think?

FXProsperHub avatar

Hi Everybody, such a strategy with a given parameters is NOT so profitable as advertised due to false breakouts. Please mind that main moves happend also during NY and TOK sessions. I have JAVA strategy and backtested it on different pairs very precisely with JForex tester. There are weeks without any trasaction because of SMA filter and market sideways. So it was popular strategy a few years ago and it is harder and harder scalp pipses this way although there are proftable periods... in general losing money.

mackwag avatar
mackwag 17 Oct.

Good article, well written.  I have one problem - trying to download the Excel calculator, I get the site http://speedy.sh/TRWjS/strategy-calculator.xls which does not have the Excel file but a lot of irrelevant links.  Will you please redirect me to where I can download the calculator? Best regards.

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Frequently released macro figures are good opportunity to show how you can take advantage of this kind of market events. Much is said about it, "do not play when the figures come", but why not take advantage of moves generated by them to open the next position or reconstruction of old? I am not talking about the entrance at the time of publication, but shortly after. Below I present it as a long position rebuilt, which was exited by my trailing stop (set slightly below the low of 7.30 GMT 06/03/11). Case was happened 06/03/11. The default timeframe is M10. From about 12:00 polish time (10:00 GMT), we could see a clear phase of waiting for figures reading and only the necessary foreign exchange is being done. Well illustrated by the GMMA, which took in the period before the publication of a very compact and flat arrangement. I found that market is general uptrend (based on H1 and D1), quite clearly and in accordance with that, I manage opened positions and open only long positions in daytrading. At 14:30 (12:30 GMT), NFP, the unemployment rate and average hourly earnings has been published. All data were clearly negative for the dollar, which caused the initial sh…
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przemyslaw avatar
przemyslaw 11 Oct.

Great job again! That's how every artcile should looks in this contest: many charts and brief explanations. In addition, author shows how easy can be profiting on the forex market.
Good luck in the contest!

ritesh avatar
ritesh 12 Oct.

Nicely written, quite detailed and informative article. Nice one..keep more coming. Best of luck and +1

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