49# Monday Trading

Gap Trading System

 

Sumbit By Jon 29/30/2013

 

Entry Signal

Long Signal: Buy at the high of the last trading day using a

Limit Order, but only when the market opens with a gap up (this

is when the market opens above the high of the last trading

day).

 

Short Signal: Sell at the low of the last trading day using a

Limit Order, but only when the market opens with a gap down

(this is when the market opens below the low of the last trading

day).

In the picture Monday Trading forex system in action.

Gap Trading System
Gap Trading System

 

Please note: If you don't get a gap do not place any order!

Cancel your order if not filled by the close of the same day!

Do reverse your position! If you are long and you get an entry

signal to go short, reverse your position. If you are short and you

get an entry signal to go long, reverse your position.

Exit position

If you are long: Place a sell limit order 30 pips above your entry.

Place a sell stop market order 30 pips below your entry to limit

your risk. If your profit objective is filled, cancel your protective

stop, and vice versa.

If you are short: Place a buy limit order 30 pips below your

entry. Place a buy stop market order 30 pips above your entry to

limit your risk. If your profit objective is filled, cancel your

protective stop, and vice versa.

Profit Target 40 pips.

Share your opinion, can help everyone to understand the forex strategy.

Write a comment

Comments: 0