Introduction
In this manual trading strategy, we delve into a meticulous approach to trading the forex market, focusing specifically on 5-minute timeframes. Our method combines the usage of key indicators and precise entry criteria to identify high-probability trading opportunities across nine major currency pairs.
Key Components
Pairs and Timeframe: Our strategy centers on nine major pairs, namely EU, GU, AU, EJ, GJ, NU, UCAD, UCHF, and GB, exclusively traded on the 5-minute timeframe.
Indicators: We leverage a suite of indicators including Ichimoku, BvS, ichi360, and buysell/wait4 to guide our entry decisions and assess trade strength.
Entry Criteria: Clear buy and sell signals are determined by the Tenkan-Sen (TS) crossing either above or below the Kijun-Sen (KS), accompanied by directional arrows. The strength of the trade is gauged based on the position of the KS/TS cross relative to the Kumo cloud.
Entry Timing: Swift decision-making is paramount, particularly when both the arrow and KS/TS cross align, requiring quick visual judgment for trade execution.
Pair Selection: In cases of multiple pairs signaling trades simultaneously, we prioritize pairs exhibiting the strongest trade strength while also considering candle proximity.
Exit Strategy: We advocate for a disciplined approach to exit management, with fixed take profit (TP) and stop loss (SL) levels set at 10-11 pips and 10 pips respectively, ensuring a hands-off approach once trades are initiated.
Trade Duration: Trade duration varies across trading sessions, ranging from as short as 5 minutes during pre-London sessions to up to 2 hours post-US sessions.
Win Rate and Opportunities: Anticipated win rates fall within the range of 70%-80%, with an average of 4-6 trades per pair per day.
Money Management: Risk management is fundamental, with recommended risk levels set between 0.1% to 0.2% of the account balance per trade. Slightly higher risk (0.2% to 0.3%) is reserved for trades aligning with prevailing trends and occurring at strong strength crosses.
Conclusion
Our manual trading strategy offers a systematic and disciplined approach to navigating the dynamic forex market landscape. By integrating precise entry criteria, rigorous risk management, and strategic pair selection, traders can enhance their prospects of consistent profitability within the 5-minute timeframe.
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https://drive.google.com/file/d/15Kq6HmixLCIKhpnONNaa2h2ZAHK_iP9O/view?usp=sharing
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