Keep It Simple Stupid | Foreign Exchange EA Download - MT4/MT5 Resources

Hi everyone, I've been playing around with a simple system and it seems to be working pretty well so far.

For people like me who don't have enough time to check every 30 minutes or hourly, it's trading on a daily chart. Hope I can become a professional trader one day haha.

I have been a hobby (*probably not a real word) trader for the past 10 years, trading at least all things stocks, options and forex. My accounts haven't been hit as hard as I would have had to dip into in an emergency, which sucks. Recently I finally got my finances back on track (not trading related. Government contracts fell through and lost some non refundable money...live and learn haha) back to normal and have some extra money to start trading again Wow! I hope I can get the island I’ve always wanted O_o

So for strat it looks like this:
A viable strategy for KISS method trading on Forex currencies. “Anything so far”
When chart trading, the chart can only trade in 3 directions.
1. long
2. short
3. Turn sideways

1. When taking a long trade, we assume that price moves above the moving average and makes new highs and higher lows.
2. When placing a short trade, we assume that the price moves below the moving average and makes new lows and lower highs.
3. When trading sideways above the moving average with lower highs or below the moving average with higher highs.

Using these to determine overall market trends will allow you to avoid losses 80-90% of the time. Regarding currencies I do backtesting/forward testing.

When entering a trade, we use the Fibonacci trend and place a buy or sell limit/stop at the 32 Fibonacci retracement. If the trend is strong, a position can be opened manually at the daily close if the 21 retracement is close.

TP can be 161 Fibonacci or higher. After three days, if no new low or high has been made, place a trade at the 21 or 32 retracement of your opening position.
If we trade sideways and above my position, buy at the lowest recent support. If below near-term resistance, sell. This is where strategy comes into play. If after three days you have not made a substantial profit, you can close the trade or, if you are losing, you can set the target price to your opening price, zeroing out the trade without any losses or a little profit to cover the swap and commissions. That's what I call 80-90%.

I'll try to provide more information and some screenshots in the hope that the community can provide some feedback to make the system better.

The key skill in trading this charting strategy is being able to determine the overall trend. To avoid being stopped out.
It is to be able to determine the key support and resistance levels.
Determining when the market suddenly changes is no longer your friend. In this case, please close the transaction as soon as possible.
Ability to check the market once a day.

There are substantial profits almost every month and depending on your risk it can be very profitable. If you don't spend your account, then you have a 10-20% chance of losing money.