ProFX2 trending strategy for GBP/USD
ProFX2 trading strategy is a trending system, visually clear and easy to use, so even beginners can start trading on it after learning the rules. Risks are very low, profitability is 7-15% per month.
Input parameters
- Currency pairs: GBP/USD
- Time frame: M30
- Trading time: any time, except Asian session
- Type of strategy: Trend
Rules of the trade
- The main rule of the system - to open a position only if all the indicators are pointing in the same direction. In this case it is better to trade during the European or American sessions (because trading is carried out on GBPUSD - the influence of the Asian session will be insignificant, and strong movements in this period for the pound is almost never, so do not trade during the Asian session).
- The developers recommend trading only in the direction of the larger trend, which we see on the timeframe H4. It is worth noting here that often good movements on M30 also happen against the H4 trend, and especially at the end of the H4 trend, so it is a condition of the trader's choice.
- Check the economic calendar (red marks against GBP and USD currencies) and do not trade 30 minutes before and after important news releases. During this period, the market can "wobble" up and down, so it is better to be out of the market!
- Do not trade on weekends, when American and European banks are closed, because at that time the market may be very unstable, or there may be no movement at all.
Rules for setting a stop loss:
- Installing stop loss at the level of the last significant support/resistance level.
- Always put a real stop loss at the time of opening a trade!
- Never keep the level of stop-loss "in mind", because if the price suddenly goes against you, you may not have time to close the position in time, or at all lose control of the situation and increase the loss on the trade several times.
- Never put a stop loss higher than 100 pips. The average stop loss is 30-70 pips.
Rules for exiting a deal:
- Let's close the deal if the profit of GBPUSD is 100 pips
- Close the deal if the signal changes to the opposite
- Close a deal when important news are released
- Close the deal at the end of the American session
It is also possible to exit a trade prematurely if the ProFx05 indicator is above/below the 0.5/-0.5 level respectively and simultaneously the color of the ProFx06 indicator changes from gray to green if the position is short, or vice versa if the position is long.
ForTrader.org experts recommend risking 2 to 5% of the deposit in each transaction. Such trading will give minimum risks and stable deposit growth of 7-15% per month.
Download ProFX2 indicators and strategy template