This is a strategy that works for me. We will be using renko charts to trade, and using a moving average also. We are only going to be trading the price action, and one signal in particular. I trade using 3 pip blocks. You need to have a very tight spread for this, 0. So it comes to about 0. So, here are the rules, and it is very important you stick to them, and not get carried away or start to over trade.
Entry is on the break of signal candle, sometimes you might miss it, don't take it if you can't get a good price TP 1 is 2 bricks, so about 5. You can cover a position that you think might get stopped out if you get an opposing signal which meets the requirements.
I am currently testing out how often a 1: Entered this 2nd one a little late, I missed the breakout, but price stayed inside the signal candle for a few secs, so i made an entry. I started the test of this strategy. So far I got very good results. The problem is that I have to always focus on the graph. Is there any EA to apply this strategy? Are you still trading this system profitably? I've had some success with it but I want to refine my technique. This strategy is very well mapped out, easy to follow.
I use Renko bars quite a bit and had not recognized the pin bars for entries. Free Forex Trading Systems. Hey, This is a strategy that works for me. There are a number of patterns we also need to look out for, I will explain them in screenshots.
I have traded 5 pip before with same setting though We only buy on a pull back, not continuations Stop loss is below signal candle wick. Hi, I started the test of this strategy. Hi Adamjn, Are you still trading this system profitably?More...