FOREX STRATEGY: No Signals, No Indicators System

I trade Forex with a simple system or strategy – I wait when the market gets quiet and many candles would form a line, so I would draw strait channel, make pending orders and wait for the result. That is very simple, no need to analyse the market and use any indicators or signals.
If you are not sure what I’m talking about please watch my video ….

To increase the profit and decrease losses I do actually analyze the market and use Fibonacci lines and I will show later how I do that, but at this moment let me explain a bit more the strategy itself, there are no exact rules, but there are some details you might want to know about the system:

1. You can trade with this strategy at any day of the week, but to reduce the risks it’s better to use Economical calendar and do not place the orders
on the days with no important news for the pair you trade.

2. I trade Euro/USD, but this strategy might work for any other pair with some adjustments. You can try and test the other pairs.

3. I trade 15M ( but it can be used for 30m, 1h with the some adjustments) time frames.

4. I trade on MetaTrader 4. I use London time, but I’ll try to explain using GMT time.

5. When you should look for the channel? The strategy based on European and London sessions, so the orders should be placed before
it’s opening time. Usually, the market gets slow after 19:00(7pm) GMT or even earlier, if there are no news, so I analyse the market around that time, draw the channel and place the orders between 00:00 – 04-05:00am GMT next day. Depends on the market behavior, I can draw the channel a bit earlier, let’s look at the examples:

As you can see below the market was slow after around 17:00 (5 pm) and I could draw the channel and place the orders. At night market moved a bit up and returned back to our channel by around 04:00 am.

Here is a different example, the market was moving all evening and only slowed down after 00:00, so I had to wait until 04:00 – 05:00 am. Depends where you are in the world there is no need to sit and wait all that time, you can check the market around 04:00 am (GMT +- your country time) and find out if there is a channel, so you can place the orders, if you are not sure, wait until 05:00 am.

6. What is the channel – it’s the line of candles, when the price does not move too much, does not jump. The more candels you can put inside the channel the better. There is no rule how wide or narrow it should be, but better if it’s not wider then 10 pips between upper and lower line of the channel.
Examples of good channels:

Examples of NO channels:

7. How to draw the channel? The upper and the lower lines should touch the ends of the bodies not the wicks of the candles, of course some will be the wicks, but the most should be the bodies of the candels inside the channel.
Examples:

8. To place the orders I count 20 pips up and 20 pips down from the top and the bottom line of the channel – Pending Orders – Buy Stop/ Sell Stop. 10 pips – Take Profit and 30 pips – Stop Loss.

Example: We have channel – 1.38122 – 1.38081, Orders: Buy Stop – 1.38322 (Profit – 1.38422, Stop Loss – 1.38022)/ Sell Stop- 1.37881 (Profit – 1.37781, Stop Loss -1,38181). Do not count the last number.

9. If one order closed with profit, usually I cancel the other strait away.

10. If market did not move until 13:00 (1pm) GMT, I would usually cancel the orders. If you don’t watch the market, you can choose the Expiry time when placing the pending orders. But if there are some news later and I can watch the situation on the market, I would wait until 16:00 (4pm) GMT, or until news release.

That is all for now, if you have any questions, please leave comments I’ll try to respond ASAP.

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