Sure Forex System Step by Step: First set up your chart. This the same process every day and only takes a few minutes
1. Open a 15 min Chart for a GBP/USD
2. Draw a vertical line at 04:00gmt time on your GBP/USD Chart.
3. Draw a vertical line at 06:00gmt time on your GBP/USD Chart. Please note the charts shown here are on FXDD which is GMT+2. So the lines appear on the chart at 06:00 and 08:00
4. Draw a Horizontal line at the high of candles/bars in between the vertical line.
5. Draw a Horizontal line at the Low of candles/bars in between the vertical line.
6. Add a 89 ema (exponential moving average) to the chart
This is what your screen should look like
Notice the red lines form a box. The 89 ema is blue.
At 06:15 GMT Look at your chart. There are
three possible outcomes
No Trade
If the 89 ema crosses the box DO NOT TRADE. Simply wait for the
next day. See example Below
Sell Trade
If the 89 ema (the blue line) is ABOVE the box place a pending sell
order (sellstop) 5 pips BELOW the bottom line of the box. Set your
stop loss at 20 pips and your take profit at 75 pips. Set a 45 pip
Trailing Stop. When you are 20 pips in profit move your stop to break
even. See example below
In this example the LOWER red line of the box is at 1.6081.
We placed our pending sell order 5 pips BELOW it at 1.6076.
Our stop loss was placed 20 pips above our pending sell order
at 1.6096.
Our take profit was placed 75 pips below our pending sell order
at 1.6001.
When the trade moved 20 pips in our favor we moved the stop
loss to our entry at 1.6076.
Buy Trade
If the 89 ema (the blue line) is BELOW the box place a pending buy
order (buystop) 5 pips ABOVE the top of the box. Set your stop loss
at 20 pips and your take profit at 75 pips. Set a 45 pip Trailing Stop
When you are 20 pips in profit move you stop to break even. See
example below
In this example the UPPER red line is at 1.6086.
We placed our pending buy order 5 pips ABOVE it at 1.6091.
Our stop loss was placed 20 pips below our pending buy order
at 1.6071.
Our take profit was placed 75 pips above our pending buy order
at 1.6166.
When the trade moved 20 pips in our favor we moved the stop
loss to our entry at 1.6091.
IMPORTANT:
Once the order is placed let it run until 06:00 GMT the next day.
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