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It has been said many times here that trading strategy is an essential part of trading, and to trade only on the basis of "chance", as some traders sometimes do, is really a path to nowhere.
Today, therefore, we are going to introduce one of the highly conservative trading strategies that, although it does not offer traders the possibility of getting rich quick, it does offer the opportunity for stable, time-saving and low-risk trading, which can be a significant advantage for many who do not have excess time or mental resilience.
Strategy entry rules (example)
Entering long positions
- Price hits the previous day's high price
Entry into short positions
- Price hits the Low price of the previous day
How to trade with the strategy
In the case of this D1 strategy, you always need to wait until the High, Low of the previous day is hit (entry should never occur based on an earlier high or low). Thus, over time, several positions usually end up being opened in the same direction and the moment a predetermined profit is made, then all positions are closed and the whole system starts from the very beginning.
Due to the nature of the strategy, it is very difficult to determine its exact success rate, but long-term statistics show that there are 2-3 profitable positions for every one losing one.
