The British trader has been using this system for many years. He shared his experience with the community of traders. Its purpose is to make trading as simple as possible on any currency pair and in any time interval. In colloquial English, the name of the system means “Magnificent specimen”.
The “Alfa trading” system is designed for short-term scalping trading. Trading is carried out in time intervals of 1 minute and 5 minutes. The system is applicable to major currency pairs (majors) with small spreads and indexes in the Forex market. The ecn brokers are more convenient for index trading.
British traders have created and have been improving and modifying the Forex trading system based on the Trend Magic indicator for several years. The system is mainly used for the EUR/GBP pair, as it shows the best movement trends. There is a modification of this system for the EUR/USD pair.
The author of this strategy is Scott Merritt, a major American trader and owner of Merritt Forex Investments. His strategy is a combination of breakout trading and martingale trading. Trading is done in pairs, which are the most volatile during the London session. This is Eur/Usd, Gbp/Usd, Usd/Jpy, Eur/Jpy, Usd/Chf.
There are many trading systems for breakout range. A Canadian trader developed an original strategy using this method and shared his experience of trading. The idea is to break through the range of a four-hour candle. Four-hour charts are usually analyzed in weekly periods. Therefore, all actions are tied to the opening of the trading week.
