4 hour forex trading system

I am often trying to use the grid trading system on the MetaTrader 4 platform. Today I will create a four hour forex trading system.

First of all, I will build a forex trading plan and a forex trading checklist. It is a faster way to find trading opportunities.

• 4 hour trading indicators: the Relative strength indicator, the Average directional index, 
• Forex trading sessions: any
• Preferred Currency pairs: majors. For example, EURUSD, AUDUSD, USDJPY

Second, every professional traders buy in an uptrend and sell in a downtrend. So I would like to identify the strongest trends on a daily chart.

• Use the 20-Period Moving Average to identify the main trend on the daily chart.

Third, if there is a downtrend, I will use the Relative Strength Indicator to discover the overbought conditions on the four hour chart.

4 hour forex trading system

Fourth, when the RSI breaks the trend line, I should exit the trade.

Finally, if you have had enough of the day trading system and the scalping trading system, you would try to use the four hour forex trading system.

Best daily chart forex strategy

Many successful traders believe that identify the trend on the daily chart to be much easier than trading with 1 hour chart. Now I will show you the best daily chart forex strategy. 

First, Traders that are trading on a daily chart should be aware of the larger intraday swings of the market. They will need a significant amount of capital to begin. So I will deposit my forex live account with $100000.

Second, I will limit leverage and use smaller lot sizes. So that, I will use 0.01 to 0.02 lots with $3000.

what's more, I will decide the S/R levels and pick the low-risk entry points.

Here is a failure: I can't pick the low-risk points and decide the S/R levels.

The support level is 1.3750 on the weekly chart, but I set the sell limit order @ 1.3770.

EURAUD weekly chart from ctrader

The order book would look like this: 

• 2 March sell limit 0.01 @ 1.3770 (the worst entry points)
• 3 March sell limit 0.02 @ 1.3891
• 6 March sell limit 0.01 @ 1.3977
• 7 March close 0.01 @ 1.3891
• 10 March sell limit 0.01 @ 1.4076
• 13 March sell limit 0.01 @ 1.4169
• 13 March close 0.01 @ 1.4144
• 14 March close 0.01 @ 1.4071

Finally, the best daily chart forex strategy are deciding the S/R levels and remain the patient. Especially, I will pick the low-risk entries on the daily or weekly chart.