The Simplest 1 Time Frame Strategy - No Daily Bias Needed
2 min read
8 months ago
Published on Apr 23, 2024
This response is partially generated with the help of AI. It may contain inaccuracies.
Table of Contents
Step-by-Step Trading Strategy Tutorial:
1. Choose the Time Frame:
- Start by selecting a single time frame for your trading strategy. In this tutorial, we will focus on the 15-minute time frame.
2. Identify the Killzone:
- Trade between 2 to 5 AM or 7 to liquidity rate or any PD arrays that are supported.
3. Wait for Market Structure Shift:
- Look for a market structure shift with displacement and wait for the fair value gap entry with OTE or order block confluence.
4. Look for Confirmation:
- Ensure that the candle body closes above the swing high with OTE or other block entry for confirmation.
5. Place Trade:
- Once you have confirmation, place a trade with a stop loss below the low and set a target of 1 to 2 risk-reward ratio.
6. Monitor the Trade:
- Keep an eye on the trade to see how it plays out and adjust your stop loss and target accordingly.
7. Repeat the Process:
- Look for new setups following the same strategy of market structure shift, fair value gap entry, and confluence with OTE or order block.
8. Evaluate Your Trades:
- Review your trades regularly to analyze your win rate and risk-reward ratio for improvement.
9. Utilize Backtesting Software:
- Consider using backtesting software like Forex S5 to test and refine your strategy in a safe environment.
10. Follow the Strategy Consistently:
- Stick to the strategy of waiting for market structure shifts and fair value gap entries with confluence to OTE or order block for successful trades.
11. Track Your Performance:
- Keep track of your trades and analyze your win rate and risk-reward ratio to continuously improve your trading strategy.
12. Stay Informed:
- Stay updated with the latest market trends and continue learning to enhance your trading skills.
By following these steps and consistently applying the trading strategy outlined in the video, you can improve your trading skills and increase your chances of successful trades in the forex market.