Thomas Ott . IO |||

Forex Trading Script

  1. In the morning check EURUSD, USDCHF, and EURCHF
  2. Before bed, check the pairs above again
  3. Set orders as needed or draw zones’
  4. Twice a month download trading statements and reconcile for taxes

Strategy

  1. Don’t do breakouts, they used to work but no more
  2. Focus on resistance and support zones
  3. Look for reversal candles and touches in the zones’
  4. Trade the daily chart but look for zones on the weekly charts
  5. Enter trades or set limit orders on the 1 hour chart
  6. Go long or short trades depending on the carry trade, see this site for current interest rates: https://forexop.com/carry-trade-currency-pairs/
  7. Avoid stops (because of stop hunting), dial down the size of the trade to compensate
Up next Sell Twice and Buy Once Stalking USDCHF and other general Forex observations Ok, I decided to dip my toe back into the Forex markets after a pretty successful EURUSD short. Mind you, my account at Oanda.com is about $146
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