Simple Money Making ˗˗ is a medium-term trading system.
This method is the result of two years of research and experiments by a German trader. The system will work well for those who are busy during the day and cannot be at the monitor at all times. The SMM strategy gives about 80% of successful logins. In a month, 10-15 deals are made. The author trades only on AUD/USD pairs, but does not exclude the possibility of using this system on other pairs. For technical analysis, the chart H1 is used, which contains 72 EMA Closed and 12 EMA Closed moving averages. The HeikenAshi indicator, which is included in the standard MetaTrader set, and the custom ROIAlert indicator for determining support and resistance levels, are used to make decisions about entry and exit. An auxiliary role is played by the ZigZag indicator, with which it is easier to identify strong levels.
A very important part of this system is the stop-loss and take-profit levels. The author prefers to get a profit of 100-150 points and stop-loss is put in the range of 20-30 points. But there are no exact numbers here. The stop is placed above the resistance levels when selling and below the support levels when buying. The number of blue stars of the ROIAlert indicator shows the strength of resistance, and the number of red stars shows the strength of support. In addition, the author is convinced that it is necessary to take into account round levels, multiple of 50 points, as they have an important psychological impact. Many traders place orders in these areas, so there are resistance and support.
The buy order opens when EMA 12 crosses up EMA 72 and the candle is colored green. In this case, it’s a round level of 0.7750, pierced upwards. The stop is set below the support level of 0.7725, i.e. about 30 points. The take-profit is set at 0.7840, near a strong resistance. The order should also be closed manually if there are signs of a turn around this level.
The sales order was opened when EMA 12 crossed down the EMA 72 and the candle was painted red. The stop-loss level is set at a round level of 0.7800, i.e. about 25 points. The take-profit was also set at a round level of 0.7650 and worked successfully.
With the right use of this strategy you can get a good income. Moderate losses are compensated by good profits. It is important to observe the management and to tighten the feet in time or to use a trailing stop.