Forex Midnight Easy Breakout Trading Strategy
Forex Midnight Easy Breakout Trading Strategy;
For this system we will use four indicators.
• Exponential Moving Average 30 Period
• Exponential Moving Average 150 Period
• Exponential Moving Average 200 Period
• Exponential Moving Average 365 Period
EMA 30 – This is our current trend indicator. In a strong trend a currency pair
will have a tendency to retrace to the EMA 30 and then bounce off of it.
resistance levels. Most of the time these are your strong support and resistance
levels, and if you look at them on a 4H chart you will see that more times than not
a currency pair will bounce when it hits one of these.
Using a breakout system to trade with greatly increases your probability of winning on a trade, and that is the reason why this type of system tends to work so well. There are a couple of reasons why breakouts work.
First, you are trading with the trend. You are always better trading with a long term
trend than you are against it. Simply by trading with a strong trend you are likely to win.
Even when we trade the trends though, where we enter the market determines our profit level. It won’t do to risk your whole account by using massive stops and hoping that a trend continues (which it quite possibly will). A better way to enter a trade is to find a point at which we can enter, risk less, and still profit.
A breakout point gives us that entry point. Based on prior market behavior we know that when a breakout occurs, the currency pair is very likely to continue on with its trend.
This makes breakouts one of the best entry systems you will ever use.
With an idea of what we will be doing, and your charts setup, let’s move on to talk about entry signals.
Entry Signals and Stops
With this trading system we will be using two different styles of breakouts to identify our entry points. One is called a trend line breakout and the other is called double tops. Being able to identify both types of breakouts is important to trading with this system.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Midnight Easy Breakout Trading Strategy?
- Download Forex Midnight Easy Breakout Trading Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex Midnight Easy Breakout Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.