Forex Three Day Trading System
Forex Three Day Trading System:
This is the heart of the system and the instructions for the 3 trades that you want to make each day.
Step 1: Open up your MT4 platform each morning after 5am EST but before 7am EST and on the small chart
on the Right with the time frame set to 1hour, manually move (double left click to grab the line) the top GREEN horizontal line to the high of the candle between Midnight EST and 5am est.
Step 2: Move the RED horitontal line to the low of the candle between Midnight EST and 5am EST.> That is the candle that opens at 4am est and closes at 5am est.
If you can not find the 2 lines on your DAILYSETUP chart you just need to change the time frame to weekly to see the 2 lines.
Then just move them to “around” the current price and change back to the 1 hour time frame to actually plot the 2 lines per these instructions. The two candles will be the one that opens at 11pm est and closes at Midnight est and the candle that opens at 4am est and closes at 5am est. If you are useing the provided MT4platform the Midnight candle will be 7:00 GMT within the MT4. Count forward 6 candles including the 7:00 candle to find the 4-5am est candle.
Please check to make sure that the 7:00 GMT time is correct and that it is in fact the Midnight est candle as some MT4 servers run on different server times.
Here is a link to an online timezone converter that will help you find the correct time for the timezone you live in.
AFTER YOU PLOT YOUR 2 LINES TAKE THE DIFFERENCE BETWEEN THOSE TWO PRICES AND THEN
DIVIDE THE DIFFERENCE BY 3.
EXAMPLE: price high= 1.4881
price low = 1.4828
difference = 53
53 divided by 3 = 17.6
Your profit target on the first trade is the difference of the high and low you plotted divided by 3.
From the above example that would be 17 pips. You can move the 2 horizontal purple colored first trade profit target lines on the Dailysetup chart to these profit points so they are easy to see. Save the chart template each day after plotting your lines so the lines are there in the general price range when you open your charts the next day. BELOW ARE THE INSTRUCTIONS TO EXECUTE YOUR 3 TRADES PER DAY.
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 Three Day Trading System?
- Download Forex Three Day Trading System.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 Three Day Trading System?
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”.