Forex Trading Strategy

Forex - Killer Day Trading Strategy

Basically, getting into a market either long or short is based on the combined use of the daily trend line and the obtained forex killer signal. It's a basic swing strategy to exploit the current trend and further price breakout.

1) First, check the moving average of closing prices of all major currency pairs on a daily chart (i.e. by using 5, 10 or 20 Simple Moving Average trend lines), to find out the price is either trending up or down for the USD dollar.

2) Obtain price correlation among all major currency pairs to determine an overall bias to either go long or short on the USD dollar on the day. This is the first condition filter.

3) Then, generate forex killer signals for all major pairs using shorter time periods (e.g. H1, M30 or M15).

4) When the forex killer signals are in line with the daily trend bias, enter the market long or short accordingly depending on the currency pair you choose to trade.

5) Stops must be in place whenever a condition disappears. You may follow the stop levels as suggested by the forex killer software, or you can choose to optimise your own risk reward ratio.

6) This strategy produces some good results with 30 minutes and 1 hour closing prices, and with 40-60 pips return for a position.

In summary, this simple strategy allows you to see the market better as a whole and pay less attention to the out-of-sync currency pairs. I would recommend you to check out and familiarise with the forex killer signal software, and use it as an analytical tool to assist trading and improve winning chances.

by Lloyd, ScoutForex.