The strategy uses clever money management to improve our chances of taking profit over trading positions. For this strategy, we will use our forex killer software and the daily data for the major currencies saved from metatrader.
- For this strategy you will trade at the end of each trading day.
- Save the daily data for each one of the major currencies in metatrader 4
- Load the data on forex killer
- Calculate the results for all the currencies
- We want a short and long term signal probability higher than 75%. Yes, Long AND Short term graphs MUST have a probability higher than 75% or we do not enter the trade.
- After you get a positive signal go to your trading platform and open two trades in the direction of your signal. Each trade is opened so that a 200 pip loss is equivalent to 1% of your equity.
- Both trades will have a one hundred pip stoploss, one of the trades will have a one hundred pip take profit while the other will have a 100 pip trailing stop and a 300 pip take profit. This clever management means that after the first take profit hits, the other trade is risk free.
- After the trade is opened, wait until both orders are closed through either one of the market orders.
I have tried this strategy for the past 3 weeks on a demo account with very good results. I have had about 6 positive signals which are equivalent to 12 trades. From all these trades, 9 were profitable and 3 are still opened.
I hope you enjoy this new and easier to use, long term trading strategy for the forex killer software. I also encourage you to get my ebook on automated trading systems if you are new to automated trading systems and would like to find a profitable one !