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HOURLY TRADING
For these that can watch the market every hour, there is a great opportunity to pocket a lot of pips.
We go for an overall target of 500 pips, with an overall stop loss of 500 pips as well unless our indicator says otherwise.
This systems requires to take a trade every hour, if the conditions are right.
This is why the pips are going to accummulate very fast (on plus or minus).
The win to loss ratio is close to 3:1 and with the same amount of pips for stop and target, we can grab a lot of meat from the table.
To use the system please have your hourly chart opened and please apply the only indicator that we will need:
MACD (20,50,6)
Condition to enter a buy trade:
MACD has to be above the zero line and it has to point up.
We will not go long if MACD is above the zero line but has a cross suggesting a down run.
If we get the cross suggesting a "down run" we will close our buy trades even if we do not have 500 pips in profit.
Also, if we are in the long trade, but our positions are in an overall negative number, we will also close the trade, as more "down action" maybe expected.This is the situation that will override our stop and target value.
Condition to enter a sell trade:
MACD has to be below the zero line and it has to point down.
We will not go short if MACD is below the zero line but has a cross suggesting an up run.
If we get the cross suggesting an "up run" we will close our sell trades even if we do not have 500 pips in profit.
Also, if we are in the short trade, but our positions are in an overall negative number, we will also close the trade, as more "up action" maybe expected. This is the situation that will override our stop and target value.
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