The «EvgEna» forex strategy is one of the simplest trading systems; it uses no indicators at all. It also needs no drawing tools, and it does not depend much on the trend direction, although the chance of profit is much higher in a trend.
- To trade it, I recommend choosing a broker with MT4, for example THIS ONE ⇒ (at the time of writing it adds +120% to your deposit)
From January 2017 to January 2018 the strategy made +2300 pips (4-digit quotes). There were no losing months during that time; one month ended at zero.
- Currency pair: EUR/JPY.
- Timeframe: H1.
- No indicators needed.
At the close of the D1 candle, place breakout orders on both sides of that day. When one order is triggered, the other one is not deleted. See the details below.
Buy rules of the «EvgEna» forex strategy:
Entry method 1.
1) Place a Buy Stop order a couple of pips above the high of the closed day.
2) Stop loss: 35 pips.
3) After the trade gains 30 pips, move it to breakeven.
4) Take profit: 60 pips.
5) If at least one candle closes above the previous day’s high, and the price then returns below that level and forms a rejection candle (small body, long upper wick), close the trade at the current price.
6) If at the close of the day the trade is in loss, close it at the market price.
7) If at the close of the day the trade is in profit, move it to breakeven.
Entry method 2.
1) If the price tried to break below the previous day’s low but closed back above it with a rejection candle, and that candle closed no more than 10 pips from the level, open a buy at the close of this candle. It is important that no candle before it closed below the level.
2) If that candle first triggered the sell order, close the sell at the current price at the candle’s close, right before buying.
3) Stop loss: 30 pips.
4) After the trade gains 30 pips, move it to breakeven.
5) Take profit: 50 pips.
6) If the price still goes down and forms a candle that tests the level from below (a downward rejection candle), close the trade at the current price.
7) If at the close of the day the trade is in loss, close it at the market price.
Sell rules:
Sell entry method 1.
1) Place a Sell Stop pending order a couple of pips below the low of the closed day.
2) Protective stop loss: 35 pips.
3) After the price moves 30 pips into profit, move the trade to breakeven.
4) Take profit: 60 pips.
5) If at least 1 candle closes below the previous trading day’s low, and the price then returns above that level and forms a rejection candle (small body, long lower wick), close the trade at the current market price.
6) If at the close of the trading day the trade is in loss, close it at the market price.
7) If at the close of the day the trade is in profit, move it to breakeven, i.e. to zero.
Sell entry method 2.
1) If the price tried to break above the previous day’s high but closed back below it with a rejection candle, and that candle closed no more than 10 pips from the level (4-digit quotes), open a sell at the close of this candle. It is important that no candle before it closed above the level.
2) If that candle first triggered the buy order, close the buy at the current market price at the candle’s close, right before selling.
3) Stop loss: 30 pips.
4) After +30 pips, move the trade to the entry price.
5) To take profit, set a take profit order of 50 pips.
6) If the price still goes up and forms a candle that tests the level from above (an upward rejection candle), close the trade at the current price.
7) If at the close of the day the trade is in loss, close it at the market price.
Video version of the «EvgEna» forex strategy:
- I don’t attach indicators or templates, since they are not needed.
- Strategy test: +438.34% in 12 months — HERE >> (in Russian)