Thanks. I am just a learner (trying to survive in this jungle)

A simple strategy with no indicators

Once you set your tp at the psych level, you stick to it. So if it is hit, you are out of the trade

A simple strategy with no indicators

From my FX Accucharts screens, AUDJPY, EURJPY and GBPJPY (all shorts) are BIG winners today according to this strategy...huge pips!!

A simple strategy with no indicators

Sometimes you get a candle's body that is 10 times larger (or even more) than the previous candle's body (like MARUBOZU candles). There is always possibility of going against that signal candle the next day if traders did not maintain the momentum. ...

A simple strategy with no indicators

The engulfing pattern is not a requirement. Body is simply difference between open and close. So the body length of the signal (the 3rd candle) must be greater than the length of each of the previous 2 candle bodies. And for going long, the signal ...

A simple strategy with no indicators

This is the strategy I use the most. Pinbars are candles that have bodies near to top or bottom of the candle where the length of the body is about 1/3 of the total length of the candle. The rate is about 70%. Again, your broker is different from ...

A simple strategy with no indicators

No I have not compiled a result table. I would not call this system my favorite but it is one of the systems I am actively using

A simple strategy with no indicators

Just an observation: If candles 1 & 2 were spinning tops or pin bars (hammers) while candle 3 (the signal candle) was a long candle, you would have a better probability of success with this strategy. However this is not a rule.

A simple strategy with no indicators

Hi ChilliPipper, I do not count economic news as a criteria for this strategy. And the reason why I prefer daily is there is usually less noise and more clarity with the daily than intra-daily charts . It is just a personal preference. According to ...

A simple strategy with no indicators

The pattern is composed of 3 candles. If we can number them 1, 2 & 3 (which is the signal candle), then to go long candle 3 must close higher than candle 2. And if we decided to go short, then candle 3 must close lower than candle 2

A simple strategy with no indicators

What part of the rules you did not understand so I may clarify it?

A simple strategy with no indicators

Thanks for your comments. I used to look for any indicator there is before I realized that price action is what I should have concentrated on. I have a journal called "Daily Charts" that posts actual live trades. However, it is not pertinent to one ...

A simple strategy with no indicators

Yes that is right

A simple strategy with no indicators

Your broker is different from mine. So if the pairs you listed above conform to this strategy, then they are valid. The only way to know whether they are valid or not is to post them

A simple strategy with no indicators

I am glad it is working for you

A simple strategy with no indicators

The best way to know whether they are valid or not is to post their charts

A simple strategy with no indicators

My rules for this strategy do not include that body should be 1/3 of the candle. As long as the difference between open and close is not 0, then it is a body

A simple strategy with no indicators

From what I have read, it is a lot different from my strategy

A simple strategy with no indicators

Can you post the link?

A simple strategy with no indicators

Trade full candles. So avoid Monday trades if possible (for this strategy)

A simple strategy with no indicators