Aug 12 2021 1
Day trading strategy with Exness is the most used forex trading strategy by traders on Exness. Today we will explain what this trading strategy is and why Exness is the perfect forex broker for you to adopt a day trading strategy.
Day trading strategy with Exness
When applying a day trading strategy with Exness, I usually base it on the following simple concepts. To make it easier for you to understand, I will take an example of an uptrend. The same concepts apply to downtrends as well.
The first is about transaction time. You should trade when the London and/or US markets are open. I will usually choose to trade between 8:30 and 10:30 a.m. local time. I usually only trade about those two hours a day. That's all. I use the one minute chart and only trade in the direction of the current trend.
Tips for day trading strategy with Exness
Wait for a pullback. The pullback must stop or show a sign that the price is starting to move back in the direction of the trend before reaching the previous low.
When the pullback occurs, the price must consolidate (sideward) at least 2 bars (2 bars 1 minute or more). Buy a breakout above the high of the consolidation. This requires patience. If the price stops and then breaks out in the opposite direction of the overall trend, there is no trade. As long as the trend is intact, keep looking for pullbacks, consolidation and then consolidation breakouts in the direction of the trend.
Stop Loss and Take Profit orders must be placed at the beginning of each day and can be adjusted slightly during the day based on extended or contract volatility. Measure how the price moves between pullbacks, and then subtract some pips for smaller orders… that's your target per trade. The Stop Loss level is placed just outside the consolidation on the opposite side of the breakout point.
When you enter a trade, the expected return should be at least 1.5 times the risk of the trade. Determine a stop loss and target based on these methods, then see if the reward is more than 1.5 times the risk. If the result is good then continue trading. If previous trend moves suggest it will be difficult for the price to reach its target of at least 1.5x the risk then avoid the trade.
Exit all positions at least two minutes before major news events. EUR/USD and GBP/USD includes major news related to EUR, GBP, USD and CHF. Absolutely do not trade during the time the news is about to be released. Cancel all pending orders before news and when you are not using your computer.
Why is Exness suitable for this strategy?
Exness has fast execution speed
Since we only trade for about 2 hours a day, we will need exchanges with high order matching speed to save trading time. Exness is currently one of the fastest forex brokers in the market.
Exness has low transaction costs
Trading costs are also important because when using the day trading strategy with Exness, we have to enter many small orders. And when entering many positions, transaction costs can eat a large part of our profits. Exness has the lowest spreads in the market. In addition, Exness has no other hidden costs.
So why is the Exness day trading strategy used the most? That's because it is the simplest and easiest trading strategy to apply. Also, thanks to the best quality of the trading platform on the market, Exness is the best place for you to use this strategy.