Thursday, June 21, 2007

Nobrainers Forex Strategy

Nobrainer forex trading strategy has proposed by someone who called Vynner in forex trading communiy forum, it seems that this strategy attracted a lot of trader on that community. Because this strategy was easy and simple to use. Vynner said he has use this simple forex strategy from June 2006 and gave him 300 -400 pips a months.

Here is the system :

Things you need:
1) Daily Chart on GBP/USD
2) 4 hours Chart on GBP/USD
3) Slow Stochatics (13,5,5) on both charts
4) EMA 4, EMA13, EMA50 on the 4 hours chart

Look at 4 hours chart
When the EMA4 first cross the EMA50 follow by EMA13 cross the EMA50, with a new open candle, place your entry with a stop loss of 50pips.
Exit :
When EMA4 reverse and cross the EMA13 on the next open candle.

They call this the NoBrainersTrade but Vynner has modified a few things and add in a really good filter base on the daily charts with slow stochastics.

For Filter look at Daily chart
Valid Long Entry:
Slow %K above Slow %D on the Daily Chart
Valid Short Entry:
Slow %D above Slow %K on the Daily Chart

"Very simple method but yet powerful. It works on other pairs too but I found this work best on GBP/USD" ---VyNNer----