Easy GBP/USD Forex Trading System

Forex trading System

At 5PM EST:

1- Close out any open positions

2- Cancel any unexecuted orders

3- Set an Entry Buy order 1 forex pip above previous high

4- Set an Entry Sell order 1 pip below previous low

5- Set stops and limits using the following guidelines: 50 pip profit target, 25 pip stoploss if ADR ABOVE 200 40 pip profit target, 20 stoploss if ADR BETWEEN 175 and 199 30 pip forex profit target, 15 stoploss if ADR BELOW 175

Do no forex trade if ADR is below 100

How to calculate ADR (Average Daily Range)

It may be easiest to use an excel spread sheet for this.
Take the H/L for each day, for the past 14 days.
For each day list the amount of pip's between the H and L
Example. H = 1.5623 L = 1.5586
5623 – 5486 = 137

Add the total amount of pip's for all 14 days and divide it by 14.
This will give you the average daily range.

Average pips: +250 – 300 /month.
Max drawdown since 2004:175 pips.

FREE DOWNLOAD MP3 FOREX GBP/USD TRADING SYSTEM

Here is BT Forex trading strategies. Best Forex Trading Signals

BT Forex trading strategies

I've been using this strategy for about 6 months now and have been achieving very high results with it, aroung 40 to 100 pips a day.

OK, here it is:
Timeframe: 1hour works best, but could use on 30 min.Indicators: Braintrend 1, Signal1, Stop1, and Stopline1, Signal Close Alert 1t3 Aroon Horn Smoothedt3 Aroon Horn Oscillator: line drawn at zeroTrend Trigger Modifed version 3 (changed parameters to 50 and -50, instead of 100 and -100)

Entry Long Signal: 1. Blue bar completed with Braintrend signal dot (alert will sound and tell you the entry with stop placement). Do not enter yet.2. Aroon Horn Smoothed lines will cross each other. Do not enter yet.3. Trend Trigger will cross above the +50 line (must be crossing or already above +50 line to signal safe entry). Do not enter yet.4. We enter only when the Aroon Horn Oscillator crosses up over the zero line. (only if all of the other indicators agree)

Entry Short Signal: Opposite above.
Waiting until the Aroon Horn Oscillator crosses the zero line will ensure that the trend is in strength. It also coordinates quite often with the minor retracement that happens after the initial price move. The Aroon Horn Smoothed indicator is an early signal but a retracement could happen that is why we wait for the Oscillator to signal.

I use to just jump right in when I first started using BT to try and get every pip but soon realized that there were many false signals given and one could have many whipsaws along the way. Using this strategy will eliminate many of those whipsaws and allow one to pull the trigger more confidently.

Important note on the Trend Trigger, there has been some discussion about it curve fitting past results to fit ideal parameters. That is why I say wait until the Aroon Horn Oscillator crosses zero to verify the established trend. The market is range bound when between the +50 and -50.

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