System for Forex trading “Stress free Trading System”
The “Stress free” system does not require constant monitoring of the graphs. There are many people who have a permanent job or business but want to make money on Forex. Due to various obligations, they cannot control the market situation. There are “Set and Forget” trading systems for this category of traders. The “Stress free” system is one of them. It gives good results with proper risk and money management. The system can be used to trade currencies, indices, SFDs and metals. Forex brokers with a securities license will ensure safe trading.
The system uses three most important concepts of trading, which are followed by almost all professional traders. These are the level of beer, lows/maximums and closing of the day, support and resistance levels.
Pivot has long been used by stock traders because it gave them an easy method to get an idea of where the markets go on any given day, using a few simple calculations. Support and resistance levels are calculated from the beer level. They work because they are used by many individual and institutional traders, banks and investors.
The minimum and maximum, as well as the closing price of the day, are used to determine the beer. If the next day opens above the beer, the growth is possible, and if it is lower, the decrease is possible. Weekly beers are more accurate in determining the direction, and the combination of daily and weekly beers can give good results. With the “Stress free” system we buy only above the weekly beer, and sell only below.
Daily pivot Indicator” is used to draw daily beer and levels, which can be downloaded from the link below. To determine the weekly beer, we do some simple calculations
On the weekly chart we find the parameters of the last candlestick and divide the sum of the minimum/maximum and the closing of the day by three. In this case, the weekly beer is at 1.0756.
Let’s move on to the M15 schedule with daily beer installed
This screenshot shows a sample sale, as the price is below the weekly beer level. To trade on the system, the “Sell Stop” order is set at 20 points below the level of daily beer. Stop-loss is set above the beer level. Take Profit is set at 40 points or the first level of support.
When buying, the trading scheme is similar. If the price is higher than the weekly beer level, the “Buy Stop” order is set at 20 points above the daily beer level. Stop-loss is below the level of beer, and take profit is at the first resistance level.
These orders are set up in the morning every day. However, on some days the market may open 30-40 points above or below the daily beer. In this case, no orders should be placed. If there is time, you can wait until the price returns to the beer level and set a pending order.