Trending trading strategy Magic FX Trading
Trending trading strategy Magic FX Trading - is an effective system with simple rules. The peculiarity of the Magic FX Trading strategy is two approaches to trading - conservative and aggressive, differing in their degree of risk.
Input parameters
- Currency pairs: any, including cryptocurrencies
- Timeframe: M30 and higher
- Bidding time: any
- Risk management: after calculating the stop-loss, choose this lot sizeto risk no more than 2-5% of the deposit per transaction
Used indicators
- Trend filter (89, 9)
- Stochastic color (14, 3,3, 2)
- Magic Fx (default settings)
Setting up the price chart
- Unpack the archive
- Copy the template into the templates folder
- Copy the indicators to the folder MQL4 -> indicators
- Restarting the terminal
- Open the chart of the desired currency pair
- Set a template named Magic FX Trading conservative (for conservative trading) or Magic FX Trading aggressive (for aggressive trading)
The schedule should look like this:
Signals indicating the opening of a long position
- an up arrow appeared on the chart;
- conservative approach: the Trend filter indicator line is green;
- aggressive approach: the blue line of the Magic Fx indicator appeared.
Signals indicating the opening of a short position
- There is a down arrow on the chart;
- conservative approach: the Trend filter indicator line is red;
- aggressive approach: the red line of the Magic Fx indicator appeared.
Setting Take Profit and Stop Loss Orders
- Take Profit order is set in the ratio of Stop Loss 1 to 1. It is possible to hold a position until the arrow appears in the opposite direction;
- stop loss it is recommended to set the size of 10-40 points from the candle, which was used to enter the market.
Trending trading strategy Magic FX Trading will suit both very cautious traders and traders who prefer higher risks and, consequently, higher profits.
Before using the Magic FX Trading strategy on a real deposit, we strongly recommend that you test it on a demo account.
Download Magic FX Trading Strategy Template and Indicators
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