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Been awhile since I posted my last strategy here, but I've been doing some work around the research in our Traits of a Successful Trader Series.
This strategy is based around When is the Best Time of Day to Trade Forex?
In the article, David Rodriguez performed some very thorough analysis to arrive at the conclusion that the Asian trading session could be most amenable for retail traders.
In the article, David took an RSI strategy, and added a Tokyo Session time filter to get far different results than had the strategy been trading during all market periods.
This strategy is similar to that - but instead of using RSI, this uses Slow Stochastics.
Stop and Profit Target are Open and in Dollars - not pips. Keep in mind if testing on a micro account (in which pips can be $.10 each as opposed to $1.0).
For anyone wanting to get more familiar with our Traits of Successful Traders series, I'm going to be covering each of the articles in the 'Coach's Playbook' webinar tomorrow at 1pm EST. You can set a reminder from the link below:
Reminder for Coach's Playbook Webinar
And join the session from this link (DailyFX PLUS requires a live FXCM Account and PW for entry):
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.