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" tag:blogger.com,1999:blog-8834784376814742578 Tue, 24 Jun 2008 10:00:21 +0000 The ultimate source for currency trading education and reviews of top forex trading software and strategies. http://currency-trading-daily-articles.blogspot.com/ noreply@blogger.com (Article Stream) Blogger 79 1 25 noreply@blogger.com no 1807120 http://www.feedburner.com tag:blogger.com,1999:blog-8834784376814742578.post-8135402122845587613 Mon, 23 Jun 2008 14:33:00 +0000 2008-06-24T13:00:21.696+03:00 forex strategies forex systems There is a say among savvy traders: "keep it simple". The following strategy is a simple part time strategy that fits all of you 9-to-5'ers who want a piece of the action.<br /><br /><span style="font-weight: bold;">Set-up:</span><br />open GBP/USD weekly chart.<br /><br /><span style="font-weight: bold;">Entry Rules:</span><br />On Monday during European session place entry orders 50 PIPS above (Buy) and below (Sell) the previous week's close. For each entry order place fixed 30 PIP stop.<br />Some guys also use a <a style="color: rgb(0, 0, 153);" href="http://eabras1367.andreaskir.hop.clickbank.net/?tid=CUTRB" onmouseover="window.status='';return true" onmouseout="window.status='';return true">signal software</a> as an additional indicator that filters most of the wrong entries. When the spot comes close to the Buy/Sell level, the signal software can validate or invalidate the trend.<br /><br /><span style="font-weight: bold;">Exit:</span><br />There are a few options, depending your trading style. Each one has its pros and cons:<br />1. Do not Place a profit target. Just leave the position open until Friday and exit toward the end of the US session. Pros: Profit maximization; no intervention required. Cons: lack of profit protection; exposure to market volatility.<br />2. Place profit target (at least 100-150 PIPS). 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