Check this promising Trading Strategy

Trading is a complex and risky activity, but it can also be very rewarding. There are many different trading strategies that can be used, and the best strategy for you will depend on your individual trading style and risk tolerance.

In this article, I will discuss a simple trading strategy that can be used to profit from both rising and falling markets. The strategy involves opening a buy position when there is none open, and opening a sell position when the value of that position reaches $9. The buy position is closed when its profit reaches $10, and the sell position is closed when its profit reaches $3.

When there are no open positions, it all starts over again.

This strategy is relatively simple to understand and implement, but it is important to note that there is no guarantee of success. The market price could go down before you reach your profit targets, and you could lose money on your trades.

And here enters risk management: I recommend the size of each trade to be a mere 0.01, for that profits targets, and when the account balance grows, adjust it accordingly.

Here are some of the key features of this trading strategy:

Trading Strategy

• Open a buy position of 0.01 when there is no other open position
• Open a sell position of 0.01 when the buy position profit reaches $9.
• Close the buy position when the profit reaches $10.
• Close the sell position when the profit reaches $3.

Backtesting the Strategy

I ran some backtesting on the EUR/USD strategy described above, with good results. The following graph shows the results of the backtest.

The results look promising, but we should run the strategy for the entire year to date before drawing any conclusions. The data for June 2023 is only one month of data, and it is not enough to say for sure whether the strategy will be successful in the long term.

So let´s extend our backtest to all the previous 2023 months. Here are the results:

As you can see, my dear reader, we are looking at a very promising trading strategy here! I´ll explore more aspects of it, specifically robustness (can it be applied to other currency pairs?)

In a very soon-to-appear article, I´ll publish the mql4 code, so you too, my dear reader, can compile it and run it on your mt4 platform, so…

Stay tuned!