5 min Forex Trade Trading System For MT4

5 min Forex Trade Trading System For MT4

Table Of Contents:

  1. 5 min Forex Trade Trading System For MT4
  2. Selecting the trading instrument
  3. 5 min Forex Trade Trading System For MT4 - Long trade setup
  4. 5 min Forex Trade Trading System For MT4 - Short trade setup
  5. Trade Management
  6. 5 min Forex Trade Trading System For MT4 - Conclusion

Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.

The 5 min Forex Trade Trading System For MT4 can be used by the short and long time frame traders. Very few systems can work like this strategy since it has the unique ability to adapt with different time frame data. Usually, the lower time frame traders look for the trade signals in the 5, 15, and 30-minute chart. And those who prefer to depend on long term trading strategy uses the H1 or H4 chart. Stochastic histogram, Laguerre, MACD, Pivot points, EMA 60, and EMA 200 are the main indicators used to develop this unique strategy. Load up the template for this strategy and you will get the desired trading environment to deal with the market.

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Before you start using the 5 min Forex Trade Trading System, you have to be aware that in a lower time frame you should be taking trades with the trend. But if you chose to trade in a higher time frame, you can even trade the major reversal. Reversal trading techniques can have a very high success rate provided that you know the key steps to evaluate the major news. Since news data are the most powerful price driving catalyst in the Forex market, it is important to keep yourself tuned with the latest news release. Those who intend to trade with the technical parameters only can do so by choosing the stable hours in the market.

Selecting the trading instrument

The novice traders might be wondering that 5 minutes time frame will generate the best results. But to evaluate the market condition in such a lower time frame, the traders need to look at the important market details with a high level of precision. A small mistake can lead to a big loss. To avoid such problems, we recommend the rookies start trading in the 15 minute or higher time frame. Though the strategy is designed to deal with any currency pairs, you must know the steps to find the most profitable trading instrument. For the novice trader, we recommend them to trade only the major pairs. Price movement will be stable and there will be very few false spikes.

As you gain more confidence by using the 5 min Forex Trade Trading System, you can slowly start to take the trades in the cross pairs. While trading the cross pairs, make sure you consider the spread while using the system to trade in the lower time frame. If the spread is bigger than 3 pips avoid using the minute time frame. And those who are looking for the signals in the higher time frame must consider the average daily pips movement. When the average daily pips movement is less than 60 pips, consider the market as dry and ignore any trade setups formed in the higher time frame. In low volatility, use the system to find the trade setups in the lower time frame.

5 min Forex Trade Trading System For MT4 - Long trade setup

The 5 min Forex Trade Trading System provides a very strategic sequence to execute new orders in the market. To take our long trade, we need to look for the bullish cross over in the exponential moving average. The blue EMA (60) should cross above the 200 red moving average. The slope in the Bollinger band channel must be positively imposing a strong upward movement in the price. Since the bullish cross will result in a strong rally in the price, wait for the price to drop to the Bollinger band support level. The mid or the lower band should be considered as your potential buying zone.

Most of the time, you will notice the mid or the lower band is matching with the 60 or 200 EMA. The price will test that important support level and create a bullish candlestick pattern. At the Laguerre ACS indicator, the blue signal line will cross above the red signal line imposing a strong bullish momentum in the market. For the final confirmation, you need to have positive green bars on the stock histogram indicator panel. Execute your long order and set the stop loss below the low of the bullish candle. The take profit level should be set to the upper Bollinger band.

5 min Forex Trade Trading System For MT4 - Short trade setup

Smart traders must have guessed how they should take the short trade. We need to find a bearish slope in the Bollinger band. The 60 and 200 EMA will be heading towards the south showing the dominance of the bears. Wait till the price hits the Bollinger band resistance level that matches with the 60 or the 200 EMA. As the rejection takes place, you have to get the confirmation from the Laguerre ACS indicator. This means the blue signal line will cross below the red line. Note that, if the cross takes place at the bottom of the indicator panel, you should discard the signal.

For the final confirmation, the traders need to take the confirmation from the stochastic histogram. The stochastic histogram should have red bars on the negative side of the indicator panel. As you spot the red bars, take the short trade. The stop loss can be set by using the confirmation candlestick or you can place it above the Bollinger band. For the take profit, you can set the take profit to the nearest support level. In case, you are trying to trade the higher time frame, you can also take advantage of the trailing stop loss and enhance your risk to reward ratio.

Trade Management

As you learn about the 5 min Forex Trade Trading System, you will slowly become confident. Confidence is good but when you start breaking the rules due to overconfidence, it becomes a big trouble. You have to limit your risk to 2% in each trade. But if you trade in the lower time frame, limit the risk to 1%. Make sure you are not having more than 3 trades running at the same time. Dealing with multiple open trades is a very complex process and requires extensive experience. You need to follow all the basic rules of money management and only then you can expect to make a decent profit by using this unique strategy.

By learning about the basics of the risk management policy is not going to be enough when you will trade against the trend. In that case, you have to depend on the news data along with the technical factors. Blending technical and news data can significantly improve your trade execution skills. Most importantly, you will feel confident with your trade signals. And always expect to have some losing trades since you don’t know what will happen to a certain asset in the next few minutes.

5 min Forex Trade Trading System For MT4 - Conclusion

Professional traders love to use the 5 min Forex Trade Trading System since they can trade with the different assets in their desired time frame. But remember, the lower time frame is very unstable and it requires strong knowledge about the market. We recommend the user to start trading with a higher time frame as it will give them more opportunity to manage the risk smartly. As you learn more about the market, you will slowly feel more confident with your actions and this will push you towards the line of success.

Smart traders often rely on the price action signals while using the 5 min Forex Trade Trading System. So, knowing the basic Japanese candlestick pattern is a great advantage. Those who are completely new can rely on the pin bar and doji pattern formation at the important levels. By using these two patterns, you can significantly improve your 5 min Forex Trade Trading System performance. Last but not the least, never break the rules even if you lose 10 trades in a row. Stick your system and you will succeed as a trader.

Download the complete system description and the files here:

FREE 5 min Forex Trade Trading System

Download the FREE 5 min Forex Trade Trading System for MT4.

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