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patato72
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Posted Friday, July 09, 2010
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Group: Forum Members
Last Active: Monday, July 26, 2010
Posts: 7,
Visits: 19
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Hi, sorry for my english (I'm Italian), I state that I'm not very expert in forex trading, but in the last three months I have experienced what many consider a successful strategy in 85% of cases. This is to trade gap with that form on Sunday evening by the difference between the closing price on Friday at 21 GMT and przzo opening on Sunday at 21 GMT. I read that there are no gaps in the forex. The gap that is formed on Sunday night at 21 is due to the broker who closes the dealing room at the weekend. However, my experience with the gap has been productive as I noticed a natural tendency to patch up gaps in the market. I use this strategy:
if the size of the gap is at least 20 pips, I open a position contrary to the direction of the market (in case of short gap up, in case of long gap down). Imposed a stop loss of 8 pips and take profit at 70% of the gap. If the price reaches 60% of the gap, transform the stop in pips trailing stop of 8.
What do you think?
Thanks for the replies
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patato72
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Posted Monday, July 26, 2010
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Group: Forum Members
Last Active: Monday, July 26, 2010
Posts: 7,
Visits: 19
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