10 pips per trade - forex market trading hours

10 pips per trade ~ forex market trading hours

10 pips per trade. 5-10 trades a day. You can use this strategy anytime you want, there are always very strong signals ( I will explain below..) The system will work on many Forex pairs and many major Stocks. The rules to this system are simple, and executing and managing trades will take no more than five minutes of your time. The only tricky part is bringing your knowledge base up to speed with the strategy so this becomes a five-minute process.

Let me introduce you to the four simple steps below. Then I’ll take you through some worked

examples in order to illustrate just how easy this system is.

This trading system involves 3 simple steps.

1. Identify a current trend

2. Identify your entry signal

3. Place your trade

Manage your trade later..

The System

1. Find the third candle

2. Enter your trade at the start of the third candle

3. Close your trade in a few minutes with 10 pips profit.

Below I will show you what to do – step by step.

The system works fine for me on 5 minutes or 15 minutes charts, but it work on other

timeframes as well.

Setup:

-Identify the current trend.

(For example: use 200SMA or 200EMA to identify the current trend. If the price is above the SMA – the current trend is up or opposite)

-Open a 5 min or 15 min and find the “first candle”.“The First Candle” is between two

candles, and it is the highest or the lowest of those three candles.

Look at the chart below:

10 pips per trade

The 1 st candle is located between two candles and it is the highest (or lowest ) of the 3.

-Now if you look to the right of the 1 st candle is the 2 nd candle and the next is the 3 rd candle –

the most important for us. This system based on the 3 rd candle.

If look on your chart you will see a lot of “three candles figures” and all of them are great

trading opportunities! Usually each trade will brings you 10 pips profit:

10 pips per trade

Trades

We BUYat the very beginning of the 3 rd candle if the current trend is up and your candles figure is going up.

We SELL very beginning of the 3 rd candle if the current trend is down and your candles figure

is going down.

There is ALWAYS an opportunity to make 10 pips when ever you have time: All you

have to do is to open few pairs charts and you will always find your 3 candles on some pairs!

Take profit

Your target is 10 pips. You can also try to use a trailing stop order to maximize your profit.

Stop loss

Stop loss needs to be placed above or below the second candle: If you BUY – place a stop 1

pip below the 2nd candle, if you SELL – place a stop 1 pip above the 2nd candle.

When not to trade

- do not trade 1 hour before and after major news or big events

- when the 3 rd candle is against the currenttrend

- when the second candle closes “inside” the 1 st candle:

You may also use a Stochastic indicator with parameters 5.3.3 to filter your trades. If the

direction of the stochastic is opposite of your 1 st and 2 nd candles it is better not to trade at that

moment and wait for the next “1 st candle figure”.

Time frames

This system can be used with higher time frame. In this case make sure to set your take profit

target more than 10 pips.

Pairs and stocks

This system will work on all major pairs and Stocks. Try EUR/USD GBP/USD..

Money management

Do not trade for more than 3-5% of your deposit (per trade)

Stock trading

Exactly the same method “3 candles” can be used for Stock trading. It works in the same way and

with the same rules.

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New Year Resolution - forex trading software api

New Year Resolution ~ forex trading software api

This year you may also find Gann Master Forex (and support us) on Patreon.com !

"Five years ago, I decided to start up the blog Gann Master Forex as paying respect to one of the greatest traders in the history of the American Capital Market. A prolific writer with many works of technical analysis and courses, William Delbert Gann developed new techniques of analysis in which he always held a great value for the relationship between price and time. Gann believed that the time is more important than the price and that when time overlaps the price, the market will be witness to great changes of trend. In order to determine when, where and how the market will evolve, Gann used the Law of Vibration believing that each financial tool has its own "vibration" which changes depending on the universal energies. The fundamental purpose of the blog is that of popularizing a work of invaluable importance which unfortunately is not known well enough."

You can find further funding details and extras on the link above! 

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Day Trader - forex trading hours new years day

Day Trader ~ forex trading hours new years day

The day trader has more patience and wants to go for a bigger move than the average goal of 15 pips. This requires trading off larger time intervals such as the 30-minute and 4-hour charts. The day trader is looking for wider ranges of 60 pips or more to locate a trade preferable near support or resistance. This trade requires a “sniper” mind-set to wait for the right pattern.

Day traders are big momentum traders. This means that they look for a certain directional bias and go long or short based on the current movement, or wave, at that time. Part of the strategy entails looking for possible breakouts from tight ranges, especially when certain news announcements

fare better or worse than forecasted numbers.

Day trading offers these top three advantages:

1. Peace of mind. Day traders sleep soundly at night knowing that they do not have any open market positions. As long as a position remains open in the forex market, it is exposed to risk. Examples of risk include market gapping, which happens when prices are non-existent during

brief periods because of market volatility.

If a trader ’s stop loss is located in the gap, the trade might not close out. If this happens, the trader has a higher risk exposure. Since day traders close out their positions by the end of the trading day,

market gapping risk is hardly present.

2. Easy analysis. Day traders love the news, because news often injects momentum and causes currencies to move up or down. As positions are closed out every day, day traders do not subject themselves to analysis paralysis. This trading disease happens to many news traders who grapple with the concept of how much markets tend to price in upcoming news or released news.

Since day traders are momentum traders who take advantage of the fi rst moves, analysis is easy and straight forward.

3. Structured calculations. This is also one of the benefi ts of starting with a clean slate every day. When trades are left hanging in the market, equity and margin levels constantly fl uctuate to refl ect the current size of the open position. This fl uctuation can confuse traders who need to make adjustments when they calculate their lot size for the next trade.

Day traders do not have this problem because trades are closed out at the end of the day, and lot sizes are calculated on a clean slate the next day.

Day Trader

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