Although the title of the article does not quite reflect the ease of applying the strategy, but in part it’s true. Professionals who deeply understand the market can play with dozens of tools, run several strategies, and grind a ready-made model. But you need to start somewhere? A person who sees the platform for the first time will prefer a manual Forex strategy with a minimum of indicators. It is logical that on one stochastic or Bollinger Bands you will not get far, because we offer an alternative: the combined indicator GMMA_Long_Histogram.
Manual Forex Strategy for Beginners
This manual Forex strategy does not require any special knowledge of technical indicators and is already optimized for specific trading conditions. This is an excellent simulator for mastering the market on a demo account (it is up to you to use whether the indicator is used in real trading). It will at least teach intuition and allow you to get used to how indicators interact with price. The indicator is combined, but it is not necessary to delve into its essence, it has no settings, everything is already optimized. If you did not find the template, write about it in the comments and we will be happy to send it to you by email for free.
- Interval (timeframe) – 30 minutes (M30). The advantage of the interval – it is optimal from a psychological point of view. No haste, as in scalping. No waiting for long is an intraday strategy.
- Currency pairs – EUR / USD, GBP / USD. It is better to give preference to the second option, since this pair is less susceptible to chaotic volatility.
- Levels: 0.0005 and -0.0005.
Conditions for opening a long position:
- The indicator has drawn 8 columns in a row below the level “0” of relatively large size. Most (at least 50%) of the bars should be below the level of -0,0005.
- The indicator drew the first column above the zero level.
At the next candle you can open a position with a fixed stop of 20 points. After reaching 10 points of profit, we set a trailing with a length of 10 points.
Conditions for opening a short position:
- The indicator drew 8 bars in a row above zero level with respect to a large size. Most (at least 50%) of the bars should be above the level of 0.0005.
- The indicator drew the first column below the level “0”.
The exit position is similar. First, we recommend to practice on the pairs specified in the conditions. As an experiment, the manual Forex strategy can be adjusted by changing the number of columns or adjusting to their module in front of the signal candle. Volatile pairs should be avoided. The length of the stop loss and trailing can be adjusted. If you have any questions or problems with signal accuracy, ask questions in the comments!