By rules of contest, it should be minimum 20 trades per month, while each trade is risk of getting loss, i would be to escape many trades, but competive part of contest requiere huge profit for month around 100%.
For this contest, i choose strategy with minimum quantity of trades and fast profit. As i can lose contest points during rollover, i prefer to make trades in decent time before it, i choose european session and pair usd/jpy, cause last is very patient during european session, while i need small range of profit.
I decide to wait a bit time since open of european session and then try to open my trade per day, i choose famous and old indicator RSI with small parameters only 6 units on timeframe 5 min, its guarantees me opening trade in patient day of week, maybe some bank holidays.
Using of these indicators and parameters can give signal for opening each hour, but my strategy uses early signal and ignore all next. European session open in 7 AM GMT, my strategy start scans for open on next hour, 8 GMT. About each second time script opens trade in first minutes, i.e. 8 GMT.
In usual days like 18 june it will be more than 10 signal for openings in both sides, and this tactic is not suitable for permanent use, in my situation i just need one early signal, where i should get small profit. Pic 1, 18 june.
In days with convincing trend, like 8-10 june, quantity of signals is decreases but signals during bounce is totally wrong. But small range of profit can avoid dangerous even in such situations. Last screen shows as asian session was more convincing in usd/jpy than european session, such things don't work on forex all time, but mostly usd/jpy moves huge on american and asian sessions.
Much rare we have days when main motion in usd/jpy passes on european session, day as was 26 may. Only one signal per european session.
This tactic used only for strategy contest, simple idea and plan is needed for stable work of script in various situation on forex.
For this contest, i choose strategy with minimum quantity of trades and fast profit. As i can lose contest points during rollover, i prefer to make trades in decent time before it, i choose european session and pair usd/jpy, cause last is very patient during european session, while i need small range of profit.
I decide to wait a bit time since open of european session and then try to open my trade per day, i choose famous and old indicator RSI with small parameters only 6 units on timeframe 5 min, its guarantees me opening trade in patient day of week, maybe some bank holidays.
Using of these indicators and parameters can give signal for opening each hour, but my strategy uses early signal and ignore all next. European session open in 7 AM GMT, my strategy start scans for open on next hour, 8 GMT. About each second time script opens trade in first minutes, i.e. 8 GMT.
In usual days like 18 june it will be more than 10 signal for openings in both sides, and this tactic is not suitable for permanent use, in my situation i just need one early signal, where i should get small profit. Pic 1, 18 june.
In days with convincing trend, like 8-10 june, quantity of signals is decreases but signals during bounce is totally wrong. But small range of profit can avoid dangerous even in such situations. Last screen shows as asian session was more convincing in usd/jpy than european session, such things don't work on forex all time, but mostly usd/jpy moves huge on american and asian sessions.
Much rare we have days when main motion in usd/jpy passes on european session, day as was 26 may. Only one signal per european session.
This tactic used only for strategy contest, simple idea and plan is needed for stable work of script in various situation on forex.