Simple Price Trading System is defined as an exciting system that was created by the traders lately. It can work for any type of pair and in different market conditions. No pointers are needed to trade utilizing the particular system. The only thing needed is the capability to set the pending orders.
Some of the features include:
• Trading based on position for any condition of market.
• Profit protected by Trailing stop
• Absence of the numerical proof
How to do trading?
• High timeframe image is suggested as the setup of every trading needs certain calculations depending on the current bar.
• Important number should be evaluated first. It depends on the existing cost. As far as the quotes are concerned within four digits after a single doe the important value is the existing cost which is then multiplied by ten and then gets rounded. For quotes with the two digits after the dot the important value is the existing cost divided by ten and rounded.
• Place the pending purchase order at the existing cost
• Place the order of pending sell at the existing cost
• Place the stop loss for undecided purchase order at the open cost
• Set up stop loss for undecided selling order at the open cost
• Take-gain for both the orders is evaluated in a similar way to the important value but the existing cost should be increased by hundred for quotes with four digits following a dot and should not be divided for quotes with two different digits following a dot. In these cases, the values have to be curved.
• One can also apply Trailing stop to orders and set it to nearly 2.5
• Never forget to cancel untriggered orders following the end of the timeframe period.
• If it seems to be very complicated, have a look at the example given below:
Let us evaluate the conditions meant for entry and the parameters for an instance shown on the chart:
1. It is a USD/EUR H4 chart.
2. The existing cost is 1.481 the open cost of the current bar is 1.4832.
3. There are four digits after the dot in quotes for USDor EUR. This signifies that the important value is evaluated as 14.8. Rounding the results in fifteen pips.
4. Pending purchase order level is evaluated as 1.4810+
5. Pending selling order level is evaluated as 1.4810-
6. Stop loss for the pending purchase order is evaluated as 1.4832 –
7. Stop loss for the pending selling order is evaluated as 1.4832 +
Credits
This type of trading system was developed by Forex kid. Version which is presented here has certain modifications.