No indicators are required to trade using this system. All you need is the ability to set up the pending orders. This trading system was originally developed by The Forexkid.

The version presented here has some minor modifications. Use this strategy at your own risk. It's not recommended to use this strategy on the real account without testing it on demo first. Do you have any suggestions or questions regarding this strategy? You can always discuss Simple Price Based Trading System with the fellow Forex traders on the Trading Systems and Strategies forum.

Design — Mart Studio.

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Forex Market Opening Strategy - How to Day Trading the First Hour after the Currency Market Opens

EarnForex Forex Tools Forex Strategies. Features Open price strategy forex trading for any state of the market. Trailing stop protects profit. Lack of statistical proof. Higher timeframe chart is recommended as each trading setup requires some calculations based on the latest bar.

Key number should be calculated first. It's based on the current price.

Trading the Opening Price: Make money the easy way

For the quotes with 4 digits after a dot the key value is the current price open price strategy forex by 10 and then rounded.

For the trading consultant forex quotes with 2 digits after a dot the key value is the current price divided by 10 and the rounded. Take-profit for both orders is calculated similarly to the key value but the current price should be multiplied by for the quotes with 4 digits after a dot and shouldn't be divided for the quotes with 2 digits after a dot. In both cases the values should be rounded.

Trailing stop is also applied to the orders and is set to 2. Don't forget to cancel the untriggered orders after the timeframe period ends. If this sounds too complicated, see the example below. Example Let's calculate the entry conditions and parameters for an example presented on the chart: The current price is 1.

That means that the Key value is calculated as 1. Rounding it results in 11 pips. Pending Buy order level is calculated as 1. Pending Sell order level is calculated as 1. Stop-loss for pending Buy order is calculated as 1. Stop-loss for pending Sell order is calculated as 1. Take-profit for all pending orders is calculated as 1. Take-profit for pending Buy order is set to 1.

Take-profit for pending Sell order is set to 1. Trailing stop for both orders is set to 2. Credits This trading system was originally developed by The Forexkid. Please, disable AdBlock extension in your browser.