Today we would like to discuss a very simple trading strategy. Perhaps this is the easiest trading system that has ever existed. This Forex trading strategy is perfect for any newbie Singapore Forex trader and we used it in our first years of Forex trading experience as well.
– Does not require knowledge of technical analysis
– Takes little time – about 10 minutes a day, there is no need to be in front of the computer all the time.
– Minimizes your psychological stress.
The basis of this Forex trading strategy is a trading system called “Noise Trap.” Its detailed description you can easily find in the Internet, we are giving you the basic rules.
The strategy rules:
Each day from Monday to Thursday we are opening a position on the currency pair EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD. It doesn’t matter if your trading position is for a buy or sell. The size of your position must be for the entire margin. Time to open positions: 11.30-13.00 GMT. For each position we set a Take Profit order for 13 pips, we don’t use Stop Loss order for this strategy.
Don’t do anything else with your opened trading positions. If any of the positions are closed by take-profit, we open new ones in a due time. If the position is not reaching the take profit and makes you a little loss, don’t do anything and follow the system.
Our vision of the strategy:
As you can see from the description, the position opening time is not chosen by chance. It is done during a relative calm period before the USA trading session starts. As all currency pairs are correlated with the USD.
Some Forex traders may disagree with the opening a trading position using the entire margin. If you go for a smaller margin, you can easily loose the deposit with a sharp market movement against your open position.
We saw many negative and pessimistic reviews of this system, but most of the commentators didn’t try this strategy and hurried up to give their opinion without using it. Thus we tried this system by ourselves and it really worked.
We suggest all Singapore Forex traders and traders from other countries to try this trading system on a demo trading account before you use it for your real money. Make sure that you follow its simple rules. We wish you good luck and feel free to submit your comments about your feedbacks and experience.