The System of Horde Forex
A smart trading system is a must when you are aspiring to be a highly successful trader. The next step for you is to learn the system as well as follow it religiously. The system that will be explained here is especially useful for short-time Forex traders. It’s for those who don’t have hours to spend before computer and want a quick solution.
After you have copied the needed files as well as run the MT4, you will have to open up a currency pair. It could be anything, ranging from GBP/USD to EUR/USD. Now, you will set time frame of chart to around 5M and then simply apply template. You will find a chart such as this:
Before delving deeper into further details, you must remember some crucial rules to ensure a smooth profitable trading. Irrespective of your chosen currency pair & strategy, these rules are the golden rules to keep in mind for profit.
- Never go for high leverage
- Always follow the trading system
- Never get influenced by calls of other traders and you should only trade when you deem fit
- Always follow the trading rules
Now, let’s delver deeper into this trading strategy-
Look at the chart. You can see up & down arrows on it. These are the trading signals. However, you can’t follow these signals blindly. You will need Moving Averages (MA) cross-over for confirming the direction.
Thus, basically, you will go for long (buy) if: red Moving Average line comes over blue Moving Average & you will see yellow arrow.
You will go for short (sell) if: red Moving Average line comes below blue Moving Average & you will see pink arrow.
Check out the chart given here:
- You can see yellow arrow yet red Moving Average line seems to be blue line. In such situations, you will wait for red line to plunge over. As it happens, you will go long.
- It’s a fake signal since the red line did not go under blue line.
- If every condition is being met, you will go long.
- We received pink arrow & we also saw the red MA.
- Another fake signal and thus we did not open a position as the MA plunge-over just didn’t happen.
- Red MA.
- Once again, a fake signal yet our MA plunge-over filter seems to be guarding us from fake signals.
- We saw yellow arrow. When red MA line>blue MA one; we took too long position.
Always remember, it’s a form of scalping system. Thus, our Stop Loss is around 10 pips while Take Profit is around 10 pips.
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Related Article: Double CCI & ASCTrend Strategy for Forex Trading
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