The "Beginning" Strategy: Trading WITHOUT Technical Analysis

Hello, dear visitors of our forex portal! We all know that most trading strategies are based on technical analysis. For a trader, this means tracking indicators, candlestick patterns, and so on.

But does such an approach give a trader confidence? Not always, because it is very important to understand WHY you need to buy or sell, rather than simply entering the market at the crossing of lines X and Y. The "Beginning" system is based entirely and completely on ordinary logic, understandable even to a child, and on the behavior of the majority of traders. This gives it a solid foundation and allows you not to get distracted by chart analysis.

Platform: Any
Currency pairs: EURUSD, AUDUSD (results are worse on other pairs)
Timeframe: M30
Trading time: Once a day, at the beginning of the London session
Recommended brokers: Alpari, RoboForex

In the first half hour after London opens, the market gets flooded with orders, which together create the impulse that determines movement for the next several hours, until European traders leave for lunch.

This is exactly the impulse we are trying to catch.

Thirty minutes after London opens, as soon as the half-hour (M30) candle closes, place pending buy stop and sell stop orders about 5 points above its High point and below its Low point, respectively.

We do not set Take Profit; the stop loss is placed at the level of the opposite order. That is, if the stop loss on buys is triggered, sells open automatically, and vice versa.

Close all positions and delete untriggered pending orders after 2.5 hours (5 M30 candles), when traders begin getting ready to leave for lunch.

You can experiment a little with the closing time. After all, we do not know exactly when, down to the minute, traders rush off to business lunch :)

In 1 trade, you should not risk more than 3% of your deposit. Although losing trades in this system, if they happen, are small, you should not forget that they WILL happen. And risking a large share of your deposit is simply foolish.

Forex is boring routine work; there is no need to turn trading into a casino.