If you look for a Forex trading system in the internet you will find tons of different systems that promise you hundreds of pips profit on a monthly basis. When starting trading Forex we have tested different trading systems and signals hoping to find the one that will work effectively and would provide us with a stable profit. But the results using different systems were not satisfactory enough. Thus we decided that the best way would be to create our own trading system that will help us reach good results.
We spent weeks analyzing the rates and movements of different currency pairs and eventually developed our own trading system. We are working with it for over 2 years now and it gives us the average of 500 pips per month. We know how tough Forex trading may be especially for the novice Singapore traders and that’s why we would be glad to share our trading strategy for free with all our readers.
This trading strategy is applied only for EUR/CHF currency pair. The main rules of this system is that you don’t need to open any trades from 12 am till 5 pm GMT. The stop loss orders are set on 80 pips at the moment when the position is open without increasing the stop loss level in the future. Take profit orders are set up from 80 pips to 160 pips, it depends on the current situation on the market. If when you open a trading position it goes to the negative area, don’t do anything. Very often the market changes and moves from negative to positive area.
If, however, the market goes to the right direction you need to act this way: when the price reaches 40 pips of profit, change the stop loss at -40 pips, and when your open transaction reaches the profit of 80 pips, you need to make a decision: either close the position on + 80 pips or move the stop to zero, and increase the take profit level.
In any case, remember that the transaction needs to bring you no less than 80 pips of profit, you can go for more, but never except less than 80 pips. There is only one circumstance that can make you close the trading position with less profit: the release of important economic news. Every trader must have an access to the economic calendar, which displays the economic news.
If your open position has a profit of 40 or more pips, and in 30 minutes the important news are going to be released, it is better to close the position. The news release may cause the chaos in the market and it is almost impossible to predict where it goes. That is why, as we mentioned above, we don’t open new trading positions during the day time. The main news go out between 12 am and 5 pm GMT.
Our trading strategy works on both trend and corridor trading, though the maximum profit can be achieved on trend trading. Checking the charts you need to look for a trend. Open transactions according to the trend movement, and never trade against the trend. Draw the lines on the chart by connecting the picks of the candles in order to determine a trend.
You are welcome to test our strategy by yourself and take an advantage of it. We will be glad to receive your comments and recommendations for improvement of our trading system after you have tried it.