Strategy of FX Prime
FX Prime 's strategy formed about a decade ago, to extract revenue from price fluctuations on small time frames. Note that it is possible to benefit at senior intervals, but in such a case settings need to be significantly adjusted. We will focus on the parameters of time frame-relevant М1.
Since FX Prime refers to indicator systems with a large number of elements, it is not necessary to expect an ideal combination of signals. Over time you will learn to see, the combination of commands can have a positive effect, and when entry into the market is better missed. In any Forex strategy, the practice of applying it is important, and we will tell you what the indicators mean and how to properly adjust them.
FX Prime elements
6 indicators take part in the work. The first assistant to EMA720. The large number of candles analysed is due to the need to identify a global trend line for the needs of the system in question. When the price is below the indicator line we determine the downtrend, and open orders exclusively for sale. The curve must also be directed downward. Conversely, if we focus up and find the price above the indicator, EMA considers purchases exclusively.
The FX Prime strategy uses the standard MetaTrader indicator component, the Relative Strength Index. In settings we set period 14, and we change levels by 45 and 55. The RSI indicator acts as an optional filter. The ideal situation for us will be to break the level 55 line from the bottom up when we consider buying, and the level 45 from the bottom up when looking for a sale. Finding a line inside a corridor between 45 and 55 suggests uncertainty in the market, such a team is better to miss.
The third indicator is Spud Fibo, we leave the settings by default. The difference from the classical Fibonacci lines is that it shows the range of price movement for the previous period. The indicator will help us to identify where and where the price should reach, or simply to install Stop Loss.
Similar goals to the previous program, is pursued by Avto Pivot. His settings also do not change.
The fx prime strategy considers the key indicator - Doublecci Woody. The settings must be set as follows:
TrendCCI Period – 170.
EntryCCI Period – 34.
Trend Period – 2.
Other parameters are left unchanged.
Doublecci Woody integrates 2 CCI indicators. For them, we set different periods. TrendCCI170 often crosses the center line, confirming the ЕМА720 signals, and EntryCCI34 acts as an independent team to open the warrant. Their combination should improve the quality of the inputs.
The Heiken Ashi Smoothed indicator uses the FX Prime strategy as an additional filter to confirm changes in the trend. The settings remain the default.
How do I forex trade system on FX Prime?
We have already described the combination of which indicator signals can be a command to open a position. Let 's summarize with an example of a sales deal.
ЕМА720 directed downward, the price is below the curve line.
Both Doublecci Woody lines cross the zero top-to-bottom line.
The RSI has broken line 45 from top to bottom and continues to drop.
Heiken Ashi Smoked changed color from blue to red.
Use Fibonacci and Pivot Points to define price benchmarks.
As already noted, not always signals will perfectly meet the requirements of the system, but experience and practice will help to identify the best and highest quality signals among market noise. The FX Prime strategy is a qualitative technique capable of helping to extract profite and is unambiguously suitable for study.
Wa Bank Strategy for Night Trade Lovers
The desire to get a good score, without making serious efforts, is quite natural. Therefore, there are always many who want to use a strategy forex trading that provides stable income without spending a lot of time studying the market. It is for them that Wa Bank 's trade strategy is relevant. Such a technique has a number of advantages over less effective analogues.
The absence of indicators causes the forex trade system not to depend on the mechanical interpretation of the market situation, and the user estimates and predicts the market behavior. So to start trading will require a clean schedule at the trading terminal.
The terminal not necessarily has to be MT4 as the lack of trade tools allows not to become attached to a certain terminal and to use any platform, convenient for the trader. With today 's choice of alternative software, this condition is important.
Another clear plus of Wa Bank 's strategies is the active acceleration of the deposit, at least so the author of the system claims. The number of positive deals prevails over failed market entries, which is due to the rather aggressive manner of playing on the stock exchange, which is obvious from the name, as wa-bank translates as "play everything."
Such a trade strategy can be described as universal, as it has no priority assets and can be applied to any currencies. The only requirement of Wa Bank 's strategy is clear adherence to market entry criteria.
Main features of strategy
Before you begin, you must decide on currency pairs. Most often choose from this list: AUD/USD, EUR/USD, EUR/CAD, EUR/AUD, AUD/CHF, AUD/JPY, CAD/CHF, EUR/GBP, GBP/USD, CHF/JPY, EUR/JPY, NZD/CHF, AUD/CAD, GBP/CHF. At the same time it is necessary to make sure personally that the selected pair is really volatile, as the submitted list is not the final instance. The market is constantly changing, which causes changes in the movement of currencies. Overall, the Australian dollar and the Japanese yen show optimal properties for trade, although sometimes they are no inferior to the British pound and the Canadian dollar.
An important step is to evaluate weekly graphs of selected pairs. This should be done on Monday morning after the opening of the trade session - we compare the size of the last Japanese candles on the W1 chart. Wa Bank 's strategy takes into account only the absolute ranges of fluctuations that are taken into account when deciding to enter the market.
After a comparative technical analysis, the trader selects the optimal currency pair, which shows the optimal depreciation/appreciation over the last week. This decision is subjective, and therefore the result of the trade depends directly on the trader 's decision.
The last stage is the direct opening of the deal, which we expose as opposed to the movement of the last week. That is, a SELL deal opens for a bullish week-long candle, a BUY deal for a bearish one, suggesting the countertrend nature of Wa Bank 's strategy.
It should not be forgotten about the display of stop loss - its value is 100 points, while so profite is 2 times less. Such a ratio, according to the author of the system, is a consequence of optimal mathematical expectation, and leaks should not be feared, because almost all entries to the market bring replenishment of the account.
As for additional conditions relevant for Wa Bank strategy, it is worth taking into account the following nuance. If by the end of Tuesday the warrant is not closed by SL or TP, it is better to close it manually regardless of the current total. According to the theory on which the TC is built, market players, having participated in a powerful impulse, record profit in the first half of the working week. That is, on Wednesday, the price movement may well differ significantly from the scenario that developed on Monday and Tuesday. This may be due, for example, to the release of another provocative news that will prompt players to buy or sell. So as part of Wa Bank 's Forex strategy, you only have to make one deal a week! TC may well be combined with other strategy forex trading to leverage the deposit on other days of the week.
Advantages and disadvantages of HW
In terms of the merits of Wa Bank 's strategy, it is significantly distinguished from a number of other risky strategies, through simple, visible signals, which allows any forex trade system to use it regardless of his level of experience and knowledge.
The strategy of Wa Bank on Forex is well combined with various instruments, which allows to create its own strategy forex trading on the basis of it and significantly increase the accuracy of signals for putting up deals.
This system is universal, and therefore can be applied to any currency pair for the taste of the trader, including the most exotic combinations of currencies. At the same time it is worth clarifying: before the beginning of trade it is necessary to clarify the amount of spread to take it into account when performing transactions.
As for the shortcomings of Wa Bank 's strategy, there are very few deals per week. On the other hand, this can also be seen as a merit for a trader who is unable to pay daily attention to trading on Forex.
It is important to note that Wa Bank 's strategy has an uncomfortable time for the user to make a deal because it is necessary to turn on the terminal early Monday. For Europeans and residents of the European part of Russia, this happens at night. It is not possible to postpone the issuance of the warrant for the morning, because the trader risks missing a large part of the movement, so that the TC instead of profit as a result will cause losses.