XAAUSD Strategy to Trade any Pair Testing Phase 1
so weekends for many mean relaxing, but for many of us it is, contemplating what went wrong, strategizing our risk management and tweaking our strategies.
I Had a thought that instead of trading during news and peak session, why dont we trade after the market has done what it has done and enter when the strength has weakened, this way we might cut unnecessary loss during news and peak sessions and aim for 3-5$ profits/loss.
its less stressful, you don't need to sit the entire day or half a day, the process might be long and might require patience but its worth it. This may suit swing traders who can hold position for more than a day, but my basic idea is to enter and exit before the day closes(for testing purpose only).
So basically i will take 2 EMA's 20 and 200, During the end of the day i will look to get in to the market.
Conditions: There needs to be a maribozu candle above or below the ema, depending on if its a buy trade or sell trade.
For buy trade the candles should be above both 20 and 200 ema and for the sell trade it should be below the 20 and 200 ema.
Our Entry: will be after it breaks the maribozu candle body.
Risk Ratio : 1:1 for starters
Note: This strategy is risky if you account size is below 5000$
Will backtest this and keep sharing updates.
I Had a thought that instead of trading during news and peak session, why dont we trade after the market has done what it has done and enter when the strength has weakened, this way we might cut unnecessary loss during news and peak sessions and aim for 3-5$ profits/loss.
its less stressful, you don't need to sit the entire day or half a day, the process might be long and might require patience but its worth it. This may suit swing traders who can hold position for more than a day, but my basic idea is to enter and exit before the day closes(for testing purpose only).
So basically i will take 2 EMA's 20 and 200, During the end of the day i will look to get in to the market.
Conditions: There needs to be a maribozu candle above or below the ema, depending on if its a buy trade or sell trade.
For buy trade the candles should be above both 20 and 200 ema and for the sell trade it should be below the 20 and 200 ema.
Our Entry: will be after it breaks the maribozu candle body.
Risk Ratio : 1:1 for starters
Note: This strategy is risky if you account size is below 5000$
Will backtest this and keep sharing updates.