Trading logic: Strategy trade max 3 positions per day. Counting
starts
from 23 GMT. Logic is to close small movements which occur during
night time and morning trading before bigger movements occur. To open
first position strategy takes previous daily candle and first
position
is opened in opposite direction, i.e. if last day candle bullish
short
position opened if bearish long position opened. Remaining 2 trades
of
the day is opened in opposite direction than previous ones.
Description of indicators: indicators are not used in strategy logic
only previous daily candle. As strategy aim is to close small
movements and stop further trading in the remaining trading day
indicators are not used.
Explanation of chosen settings: Strategy uses on tick start method.
As
strategy aims to close small movements during limited time it is
essential to open positions quickly. Pair is USD/JPY as this pair
movement during night time is quite intensive. SL-60, TP-13. TP is a
lot smaller than SL in order to avoid possible temporary spikes or
dips.
Method of trade volume calculation: There are 2 trading volumes for
first position of day
possible - 5M or 0.5M (for second and third volume is fixed - 5M). 5M
is used if previous daily movement interval
is greater than 50 pips. If less 0.5 M is used. This is done in order
to have some risk management - if previous movement was not big -
quite big movements might be possible even during night time.