The £20-£50K forex challenge, trading strategy I’m starting with….

This site may contain affiliate links from which we may earn commission. This helps us keep this site free and with running costs. Thank you for your support and understanding.

If you read my previous post, I re-launched the £20-£50K forex challenge in which I aim to turn £20 to £50K!

In this post I’m going to be sharing the trading strategy I will be starting with to generate trade setups.

This strategy uses just 1 premium indicator called Ez Algo.

After some research and due diligence, I decided to go with this indicator as it’s proven to provide profitable signals.

The indicator is based around the price action principles plus they have buy/sell singles to make it easier for me find accurate entry points.

Here’s the link to Ez Algo

Ez Algo input settings – Sensitivtty : Set to 1.7. Enable buy sell signals and multi time frame Support and Resistance.

The rules for taking buy trades
1. The price must  bounce off a recent blue support zone
2. Ez Algo indicator must print a blue buy signal
3. The dashboard must be mostly green.
4. When all these conditions are met, we open a buy trade on the next candle stick.
5. We set stop loss at 15 pips and take profit at 20 pips or lock in 20 pips take profit and trail for more potential profits.

Here’s a buy trade example….

The rules for taking sell trades
1. The price must  bounce off a resistance red zone
2. Ez Algo indicator must print a pink buy signal
3. The dashboard must be mostly red.
4. When all these conditions are met, we open a sell trade on the next candle stick.
5. We set stop loss at 15 pips and take profit at 20 pips or lock in 20 pips take profit and trail for more potential profits.

Here’s a selltrade example…

As you can see its a very simple strategy and uses key levels to find potential entry points, also as added confluence we have the dashboard that shows the current market bias, which further add some more confirmation to our entry.

----------------------------------------------------------------------------------------

COPYRIGHT © SAEED-KHAN.COM 2016+TERMS | PRIVACY POLICY | CONTACT