subject: End Of Day Trading- Extreme Swing Trading System That Takes Only 30 Minutes Each Day [print this page] Author: Ahmad Hassam Author: Ahmad Hassam
This End of Day Trading System is meant for those having office jobs and not much time to do trading. In this End of Day Trading System trades are only entered once per day at the end of NY Session and then left to work for themselves out for the next 24 hours.This End Of Day Trading System does not requires frequent trading. The idea is to trade less frequently and only enter those trades with high probability set ups. This is meant to reduce your trading costs and maximizing the winning percentage of trades.Now, you can use this End of Day Trading System to trade the six major currency pairs like USDCHF, EURJPY, AUDUSD, USDJPY, EURUSD and GBPUSD. Now, you will observe these six currency pairs on the daily charts for at most one hour at the close of the NY Session that is around 5:00 PM EST with these indicators: 50,100 and 200 SMA and 100/200 Bollinger Bands plus 14/7/3 Stochastic. This is an extremely powerful swing trading method that can give you a high probability trade. You only need to monitor the six pairs on their daily charts and pick the one that gives the highest probability of a winning trade.The idea behind this End of Day Trading System is identify entry zones for high probability trades and enter when a clear trading signal is generated by observing the price action on the Daily Charts. A swing trade is entered in opposite direction to the recent move.Everyday, you should clear your desk at around 5:00 PM EST when the NY Session closes. Open the daily charts for the six currency pairs on your monitor at the same time. This is meant to give you a cursory glance on picking the currency pair that best fulfills the trade conditions. Now, pick the currency pair whose price action is touching or is very close to either the three 50,100 or 200 SMAs ( Simple Moving Averages) or the 100 or 200 Bollinger Band (BB)If you spot a currency pair price action touching one of the above and the Stochastic in the overbought or oversold mode, get ready for a trade. You need to know some of the candlestick reversal patters to get the confirmation before you enter the trade.Now, this is a powerful swing trading method that anyone who has a day office job and cannot trade during that time use. Just sit in front of your computer everyday at the close of the NY Session that is around 5:00 PM EST each day. Observe the six currency pairs and pick that one that comes very close to the above. Always remember, never to forget proper risk and money management. You should not use leverage of more than 5:1 when you trade. Leverage is a double edged weapon. So 5:1 level is sufficient for you. Only enter a trade when you find the reward to risk ratio of more than 2:1 that means that on average you have double the chance of winning the trade as compared to losing. Only trade, when you find the conditions very close to the onces described. If not, simply don't enter a trade. Practice this strategy on your demo account for a few weeks and make a number of winning trades in a row. Only then trade live! About the Author:
Mr. Ahmad Hassam has done Masters from Harvard. Learn this 10 minutes a day highly profitable Swing Trading strategy that works for forex, stocks and futures. Discover a Forex Robot that can double your money every month on autopilot.
