Aibs - another inside bar strategy
Hello fellow Forex traders. This strategy uses the price action model Inside Bar. I don't use any indicators, just bare charts and price action.
Indicators: No indicators
Time frame: D1
Currency pairs: EUR/USD; GBP/USD; USD/CHF; USD/JPY; GBP/JPY; EUR/JPY; EUR/CHF; USD/CAD Trading hours: Daily candle close Entry rules
When the daily candle closes, we look for intra-bar price action patterns. If we spot it, we place 3 buy stop orders a few pips above the highest candlestick, and 3 sell stop orders a few pips below the lowest candlestick.
Therefore, we have 3 buy stop orders and 3 sell stop orders.
Stop Loss/Take Profit
Stop loss = opposite order (for a buy stop loss order, the stop loss needs to be placed at the position of the sell stop loss order, and for a sell stop loss order, the stop loss needs to be placed at the position of the buy stop loss order).
Take Profit: I only use take profit on 2 orders (2 for buy stop orders and 2 for sell stop orders). Take Profit = S/L. The third order I would leave without a take profit for maximum profit (for buy orders, pull S/L a few pips below each big bullish candle, for sell orders, pull S/L a few pips above each bearish candle).
When any order is active, other orders need to be held until take profit is reached. When take profit is achieved, we kill the opposite order.
Money management
I don't use the standard risk of 1-3%.
My use is:
1000$ = 0.01 lot
2000$ = 0.02 lots
4000$ = 0.04 lots
8000$ = 0.08 lot
16000$ = 0.16 lots etc. Important:
If you lose 50% of your profits you need to go back to the last hand.
For example: you start with $1000 and your lot size is 0.01. When you have 100% profit of 1000$
(your balance totals $2000) you need to start trading with 0.02 lots, when you lose 50% of your profit, so for $500 (your balance $1500) you have to go back to 0.01 lots until you have $2000 again.
Sorry my English is not my native language.
Indicators: No indicators
Time frame: D1
Currency pairs: EUR/USD; GBP/USD; USD/CHF; USD/JPY; GBP/JPY; EUR/JPY; EUR/CHF; USD/CAD Trading hours: Daily candle close Entry rules
When the daily candle closes, we look for intra-bar price action patterns. If we spot it, we place 3 buy stop orders a few pips above the highest candlestick, and 3 sell stop orders a few pips below the lowest candlestick.
Therefore, we have 3 buy stop orders and 3 sell stop orders.
Stop Loss/Take Profit
Stop loss = opposite order (for a buy stop loss order, the stop loss needs to be placed at the position of the sell stop loss order, and for a sell stop loss order, the stop loss needs to be placed at the position of the buy stop loss order).
Take Profit: I only use take profit on 2 orders (2 for buy stop orders and 2 for sell stop orders). Take Profit = S/L. The third order I would leave without a take profit for maximum profit (for buy orders, pull S/L a few pips below each big bullish candle, for sell orders, pull S/L a few pips above each bearish candle).
When any order is active, other orders need to be held until take profit is reached. When take profit is achieved, we kill the opposite order.
Money management
I don't use the standard risk of 1-3%.
My use is:
1000$ = 0.01 lot
2000$ = 0.02 lots
4000$ = 0.04 lots
8000$ = 0.08 lot
16000$ = 0.16 lots etc. Important:
If you lose 50% of your profits you need to go back to the last hand.
For example: you start with $1000 and your lot size is 0.01. When you have 100% profit of 1000$
(your balance totals $2000) you need to start trading with 0.02 lots, when you lose 50% of your profit, so for $500 (your balance $1500) you have to go back to 0.01 lots until you have $2000 again.
Sorry my English is not my native language.
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