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A simple yet cost-effective strategy and plan is the ultimate key to consistent long-term profitability as it allows traders to capitalize on their side without day-to-day emotions. Today’s post presents you a profitable and solid trading swing strategy on the 4 hour chart. It is important to follow all the steps carefully to make sure you understand them.
Note: There is an important task we would like to ask you to do in exchange for getting this profitable strategy. Feel free to customize it and experiment with your own ideas. In this way, We may be able to build a better strategy that is more profitable or less volatile. Also read How Currency Pairs Work in Forex.
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If you are looking for a strategy that uses intraday tactics; Be sure to read this article on the best trading strategies here.
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The first thing we want to share with you is the performance details of the strategy. You need to make sure you take this setup seriously and appreciate the value in this article. So let’s look at the statistics of the EURAUD backtest throughout 2013.
I’m sure it’s got your attention now. I recommend paying extra attention as the stats get better… The rest of the stats are calculated based on scenario 3.
Each unit of loss is compensated with 5.5 units of reward and about 50% of trades are won. The strategy will pay off significantly.
Enough has been said about the performance details of this strategy; So it is time to explain the principles and concepts behind this concept.
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Our goal is to create a swing strategy that can be actively traded by all types of traders from beginners to seasoned traders.
As always, Our sole focus is on technical analysis. Our rules are discretionary to ensure clarity for all traders.
The main thrust of our strategy is to exploit trending breakouts. Therefore, The strategy focuses on trending and trading; But it will use time frame: 4 hour chart.
As a roadmap and building block for building any strategy; We highly recommend reading Forex Chart Patterns and How to Find Opportunities in Forex.
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All these steps will be tested one by one for this swing strategy. In addition to the filter chart that uses a daily time frame, a 4-hour chart is used for all 5 levels.
This strategy uses Tenkan and Kijun lines for trend definitions. Tenkan and Kijun lines are part of the Ichimoku indicator; But the remaining 3 parts of the indicator have been removed (please read more about the Ichimoku indicator here).
It is sweet, A simple and effective way to measure traffic. Trading doesn’t have to be as complicated as advanced math to be profitable.
A trader must align the trend and the opportunity on the same side before taking the next step. It can be both:
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The daily chart is used to filter out whether the trend and momentum are facing major obstacles such as daily tops and bottoms. If so, If the price is too close (with enough room for S&R) then the list of potential trades with that pair will be filtered and ignored. No filters were used to test the strategy. This means that statistics show “gross” performance. Results can be enhanced with filters.
Filtering levels keep our focus on the right settings and ensure that our minds are not overwhelmed. Filters are very important to make your business more profitable.
The trigger is the moment the trader has been waiting for: the price has confirmed its expected advance and a trader is just one step away from entering. The trade is not just a potential trade setup, but is on the verge of becoming a real trade. This strategy uses the following triggers:
1) For bullish trends and bullish opportunities: price should cross one of the two parabolic levels to the top (the parabolic is above the price).
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2) For a bearish trend and a bearish opportunity: the price must cross one of the two parabolic levels to the bottom (the parabolic is below the price).
The entry method is a direct market order once the candle closes. There is one important element to confirm before making an entry: the candle must be very close (in the direction of the breakout) to the close (40%) of the candle; This means:
False infections often leave large holes when they occur. By waiting for the candle to close; The trader can prevent these potential false breakouts and control their trading plan.
The stop loss uses the tops and bottoms of the 4-hour chart. Top and bottom are the highest or lowest candles in a group of at least 5 candles.
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Profitability uses a trailing loss. The main route is an exit from the intersection of Tenkan and Kijun, and a chandelier near the opposite side of the Tenkan line to one side (bottom for lunging, top for shorting). Another loss that can be used for discretionary purposes is Parabolic value 2: once the parabolic is placed on one side of the price; The trade is closed immediately. We also teach Japanese lamps and how to use them.
We hope you will find this simple yet profitable strategy to be a very profitable forex strategy. Let us know below! Finally, Make sure the rules match your own trading psychology to increase your chances of executing the rules effectively.
With 50+ years of combined trading experience; Trading Strategy Guides provides trading guides and resources to educate and inspire traders from all walks of life. stocks, options; forex cryptocurrencies; We specialize in teaching traders of all skill levels how to trade commodities and more. We provide content to over 100,000+ active followers and 2,500+ members. Our mission is to address the lack of good information for market traders and simplify trading knowledge by providing readers with a detailed plan with step-by-step rules to follow.
This step-by-step guide will show you an easy way to trade the MACD indicator. Get your free guide by entering your email now.
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Log in again. The login page will open in a new tab. After signing up, you can close it and return to this site. Trading defines my lifestyle and my profitable forex strategy makes my fortune. For this purpose, I have invested many years in my trading education. But this is nothing; Yes, There are many more.
I never stop learning and Trading is the company that saved me from darkness. That is why I have reasons to never stop improving and earning.
I still remember when I was brand new. 10-30 pips profit for loss makes me worried. I still have a long way to go and I still don’t know anything about trading. Therefore, I study continuously until I get tired.
But things changed and I built my future with time and dedication. An immediate result is becoming a Trading Mentor for Profiting.Me’s students.
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Like others, I started looking for deals to see what was available online for free. But I realized that everything that is readily available is useful. Because everything available for newbies just gives you irrelevant details about how to make money. They are nothing. They don’t show where the money is and don’t explain how they can get their share of the money.
My rewards are suffering; It is the result of years of hard work and sacrifice. Every profit I get is a salary during the years of dedication.
Money changes our minds. This is an important step. Earn money without focusing on profitable thoughts. do it
With practice and the right mindset, our efforts will create value. By continuing to do the right things over and over again. We will realize that we are making constant and consistent profits.
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I am Penny Stocks; Forex, Futures, Trade listed stocks and ETFs. I am a Supply and Demand Trader except for Penny Stocks which I trade with a different approach. But I am talking about My Way to use supply and demand trading.
My supply and demand trading is a profitable forex strategy that solidified my foundation. As a result, How can I explain it? Why is this? That works for me; Maybe even for you.
For most people, Trading is very subjective. Trade when everyone avoids it. However, only some of them actually benefit; Continuous and consistent. Instead, Most are used to risk trading for small profits and risks.
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