Strategy Monday - 1 deal per week
Many indicators only on history show excellent results, but in practice most of them simply adjust their values according to the change of the market or lag, so that the real profit from the use of TC is not of interest. Therefore, tax-free strategies, which require only a clean schedule, are particularly popular.
One such TS is Monday strategy forex trading - it is convenient in that the user does not have to sit near the monitor screen, tracking every market movement. The trader actually makes only one entry a week - it is necessary to do it on Monday at the opening of trades.
Such a TS is focused on one currency pair - it is EUR/USD. Naturally, there is no guarantee that each of the transactions will bring profit, but in general the ratio of profit and loss allows to steadily increase the deposit. strategy forex trading Monday shows good results, as it is based on an important pattern obtained by monitoring the schedule of this currency pair - a feature of the market is that it seeks to recoup lost positions at the end of the week. In practice, this means that we will have to open a long position at the beginning of the week, if at the end of the week the currency chart fell and vice versa, if on Friday there was a growth of the market, then at the beginning of the week we enter SELL. It is understood that the working time frame for such a strategy is D1.
Basic Rules for Entering the Market by Strategy Monday
Opening the market price deal at the market opening Monday, valuing Friday 's Japanese candle.
If Friday 's candle is bearish, Monday we open a deal in BUY, if bullish, the position is short.
The Stop Loss level is one of the extremes of Friday 's candle, the only requirement that its magnitude is at least 30 and no more than 50 points.
The presence of GEO, which is located below or above the corresponding extremum of the Friday candle, is the reason for the increase of SL by 50 points.
The trade strategy does not provide for the presence of Take Rufit, as the exit from the market is carried out manually after the closure of the D1 candle on Monday.
Mani management strategy Monday implies a critical risk amount of 2-3% of the total value of the account.
Examples of transactions
Let 's take a look at examples of Forex Monday deals on the chart:
On Friday 24.11.2017 there was a bull candle that means opening of the transaction on Monday for sale, SL at the same time is equal 30 points. The deal closed in profits at the end of the day as a bear candle formed.
On Friday 17.11.2017 the bull candle so on Monday the entrance to the short transaction was made was closed, stop лосс in 30 points was exposed, but the bear candle was created and the transaction was closed with a profit in 53 points.
On Friday 10.11.2017 the candle on Friday was bull that caused an entrance to a short position, but on a result of day the transaction was closed in minus as the bull candle was created.
On Friday 3.11.2017 a bear candle was formed, so that on Monday the BUY was entered, as a result at the end of the day the deal closed on a stop loss of 30 points.
It is obvious that the result of each transaction can be both profit and loss, so that protracted losses are also possible, resulting from a number of consecutive loss-making transactions. In the long term, Monday 's strategy shows a good growth in the deposit.
Recommendations for trade
In order to increase the profitability of the vehicle, it is worth using the following recommendations:
We open the deal not immediately at the beginning of the day candle on Monday, and after 15 minutes - during this time spreads normalize.
If Friday candle features a small body and long shadows, entering the market on Monday is not recommended - the signal is ambiguous.
Strategy Monday can be applied not only on EUR/USD, but also on other currency pairs in which the US dollar is present. Parameters of trade, in particular stop loss, should be selected in accordance with volatility of the selected pair - recommendations, data for EURUSD, for other pairs are not suitable.
Forex Monday 's strategy forex trading demonstrates high efficiency and ease of use, and therefore deserves attention and can be an excellent option for both a beginner trader and an experienced player in the market, especially if the preferred is a TC that does not require a constant presence near the monitor screen. You can evaluate the effectiveness of the strategy Monday for any period, however, you will have to calculate the results manually. As for the profitability of TS for 2017, it showed about 45% - such profitability is a significant reason to use TS in the long term.