A few days ago, I stumbled upon a strategy that I read at http://forex-strategies-revealed.com/simple/10pipsaday .
So what is it about? Let me briefly explain to you:
1. Time Frame: Daily
2. Indicators: no need
3. Currency: This strategy can be applied on all curencies.
Trading plan:
Immediately after the opening of new candle, you need to place 2 limit orders(buy and sell) 30 pips away from the open price. TP is 10 pips. SL is 50 pips.
I am currently testing this trading strategy as it seems simple and many traders claimed that it produces 90% accuracy. Let see how it goes on.
Disadvantage: Because I live in Singapore, I need to be ready to place orders at about 7 am. That is the timing for a new daily candle to form. Hikhik >_<
Advantage: Simple. Set and forget. Check the result the following day.
Please note that you need to close all orders that have not been executed the following day.
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