41 Comments

  1. I totally disagree. Scalping, as long as you know what you're doing, scalping allows for one to make 50+pips a day. 1m and 5m are my best friends📈📉💯😍 moving average at 200 bollinger band at 7 and alligator at 14….works just fine for me for scalping. MT4.

  2. Many thanks for this, seems a sensible strategy to use the open as an indicator of potential movement. Could you kindly offer some guidance with selection of which pair has highest probability please or maybe just drop a link on how to choose between the GBPs for the 8am open. Many thanks 👍

  3. Forex is an excellent market for professional traders, where you can trade with tremendous ease of access. it takes lots of experience, practice,and trial and error to become successful in this market.

  4. Just backtested this strategy from January 1st 2020 – January 31st 2020 on AUDCAD and had 9 wins and 10 losses using a 1:2 risk to reward ratio on every trade. Used this strategy on New York session. Using my risk management system, would have been $2,000 in profit for the month from this pair alone.

  5. Thanks marking the high and low of opening session helps me see what the banks are doing as well as what other sellers and buyers are doing . Thanks 😊

  6. Just finished backtesting this strategy with the GBPUSD pair, January 2020 since day 2 to 30.
    214 Pips profit, but could do better if I didn't take trades against the trend and think a little bit more on stop losses.
    Always 50 pip take profit, aswell as 25 pip stop loss.
    52% Winrate, but Risk to Reward Ratio 1:2 always, so profitable.

    My suggestions if you are working with this strategy is backtest it, try it on your demo account at least for a month, and use GBPUSD, EURUSD or/and EURGBP. Dont take trades against the trend, dont place stop losses just above or below market structure, and I think it's a profitable strategy.

    Also, loss days are: 10, 15,16,17,20,24,27,28,29

  7. Thank you for the inspiriation.
    I could not make this work.
    1. My drawdowns are really high. Had up to 50% when backtesting from 2017.
    2. Hard to even make a win. Even with parameter optimzation (Profit Target 175 ponts, Stop Loss = 2 * opening candle, some trailing) it makes not a lot vs the DAX.
    3. The strategy seems to have worked very well until middle of 2016 vs the DAX. From 2017 on it is a rollercoaster.
    4. My winpercentage was usually in the lower 40s.

  8. for anyone wondering, this past trading week, 1/6/20-1/10/20 (GBPUSD) had a WIN, WIN, LOSS, WIN, LOSS. the total profit could have been more than 50 pips per win, but assume only 50 pips per trading day, so 150 pips profit, and technically speaking you could've had trailing stops and cut your losses neutral, but assume you had a 10 pip stop loss for a 20 pip loss = 130 pips net profit.

  9. Sound strategy. Fits perfectly with what I've been learning about the volume happening on GBPUSA on the 4 hour chart! The trick is to gain confidence from other ways like MACD and know when to get out when it doesn't work. I'm getting there!

  10. I am a beginner for forex.. Sir, please explain where we enter hour and where we get the profit in hour. Please explain sir.. I am awaiting your response… Thanking you sir…

  11. Trading various currency pairs could be complicated at time that's why I always structure my trade under Joe's guidance, using his easy trade method I have always come out on top.

  12. This strategy is the most simple for intraday…i already backtest with Gold but based on HL first 2hour daily open…TP 60 pips…from july-oct 2019…around 64%losing trade..its better with martiangle position sizing…it will return 5%per month

  13. The Forex market presents a gamut of opportunity for investors. However, in order to be successful, a currency trader must understand the basics behind currency movements.

Leave a Reply

Your email address will not be published.


*