Forex Trading Strategy with Pending Orders

We will describe a forex trading strategy that stands out for the simplicity in application, because it is not necessary  a trader to has particular experience and expertise.

When implementing this strategy, offers investors the opportunity to achieve a relatively small number of points but with a high rate of success. In this particular forex trading strategy we do not use any indicator.

We must determine the difference in time between the application of metatrader provided to us by each broker and GMT.

Timeframe

We use the forex trading strategy in fifteen minutes (15min) chart.

Trading Rules

Locate the closing price on the fifteen minutes chart for that candlestick which begins at 00.15 GMT and closes at 00.30 GMT. This can be considered as a 'basic price'.

We place two pending orders :

Pending Buy Stop order 50 pips above the basic price.

Pending Sell Stop order 50 pips below the basic price.

The take profit levels for both pending orders are at 20 points.

The stop loss levels for both pending orders are at 20 points.

At least one of the two pending orders will be executed within the same day. When this occurs you should close the second pending order.

If there is a case where within 24 hours none of the pending orders, do not executed will have to cancel both at 00.00 GMT.

Notes

1 It is very clear that this forex trading strategy will not pay a significant amount of pips, but constantly offer positive results. Besides, it is to the discretion of each trader to place pending orders to most products.

2. We repeat once again that we must count only the GMT hours .

Important : All investors should know that any forex trading strategy before implementing in a real account needs to be tested in a demo account in order to be fully understood.

Also, all traders should be aware that extraordinary events occurring in the forex market very often, and is likely to alter the financial results of a forex trading strategy.

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