Green Red Candle Trading System - Possibly What You Have Been Looking For For So Long

Greetings, fellow traders. Let's admit it: simple forex strategies work better than complex ones. I think you have heard this more than once and have surely seen it from your own experience.

What do we know about price? 1) It can move down, it can move up. 2) A tendency (trend) tends to continue. What can we do with this knowledge? It turns out, quite a lot. You surely guessed about such an approach, suspected that it exists. But thought: "No, it is too simple. That cannot be".

It can. Meet the Green Red Candle strategy, the full power of the system's incredible simplicity in action.

Platform: Any
Currency pairs: EURUSD, GBPJPY, XAUUSD, GBPUSD, EURJPY, USDCHF
Timeframe: D1
Trading time: once a day
Recommended brokers: Alpari, Roboforex

If the daily candle closed the opposite color to the previous candle, we place a pending order in the direction of the new movement 1 point above/below the High/Low.

We place the Stop-Loss about 5 points below/above the opposite Low/High.

The Take-Profit is set at the 200 Fibonacci level drawn from the extreme points of the signal candle. That is, the take-profit is essentially equal to the stop-loss.

- For exit, you can use a Trailing stop of 160 Fibonacci (0.6 of the stop loss)
or
- A Trailing-stop at 175 Fibonacci and a take-profit increased to the 300 or 400 Fibonacci levels (the stop-loss multiplied by 2 or 3 respectively)
- Partial closing, moving to break-even - at your discretion.

Since several currency pairs are involved in the work, do not forget about total risk. 10% of the deposit across all pairs maximum. So, if you decide to use a total risk of 6% on 6 pairs, then the risk on each position should not exceed 1%.

Our mobile app will help you calculate the lot.

- if there is a new signal in the opposite direction while a trade is open, we do not close the old trade, we place a new pending order
- if the order was not activated within a day, we delete it
- if the order is not activated for 2-3 days, we do not trade this pair for now, we wait for a new direction, for the flat to end
- we do not pay attention to the news, on the day news is released, you can increase the take to 300 Fibonacci
- if we lose 3 days in a row, you can double the lot on day 4 (for fans of deposit acceleration)
- we do not trade on Friday evening, we wait for the market to open (so as not to get caught by gaps)
- if the daily candle fell just a little short of take-profit and closed, it is better to exit such a position, even with slightly less profit

The Green Red Candle trading system demonstrates the strength of the classic KISS (Keep It Stupidly Simple) approach, i.e. trading as simply as possible. Reviews from ordinary traders in the original thread paint a picture of profitable trading with this strategy. It is worth paying attention to money management, since when working with many pairs and fairly large stops, it is easy to go into drawdown. It may be worth considering the use of cent accounts if you have a small deposit.

Best regards, Pavel Vlasov TradeLikeaPro.ru