| I am telling you to get 50 pips not dollars so always open position according to your investment. Do not be hurry and fall in fear of losing your money. this is very simple technique and i am very happy with it. This technique will more useful when there is great volatility in the market and try to use it in Newyork and London session. you can use euro/usd, gbp/jpy, euro/jpy, aud/usd pairs. |
here is the strategy
1. I like to trade with 15 minutes chart and you may choose it to 5 minutes chart.
2. you should have RSI 14 and momentum indicator. they are available in mt4 chart
3. look at 15 minutes chart, and analyze the trend from H4 chart. when you see trend is downward on H4 and reading on RSI 14 is below 40 and on momentum it is below 100 then open position for sell.you will see both the readings on H4
4. Now again see the trend on H4 and if you see that it upword and the readings on momentum is above 100 and on Rsi is above 40 then open position for buy.
5. when you see reading on RS1 is 18-23 on 15 minutes chart then close your sell position and when you see position on RSi is 50-65 on 15 minutes chart then close your buy position
In this way you can easily earn 50-60 pips per day. your stop loss will be 50 pips.
Good luck for your success.
please share your experience here and try it to be on demo first
