Forex advantage blueprint is a quite simple forex trading system based on trend following. Of course we heard that before. Trend is your friend. The problem is how do you identify we are in a trend and how do we step in to take advantage of the trend. Several methods are not too clear on that.
Forex adavantge blueprint is making a major step in helping to solve this problem. They propose to use what we call the continuation pattern on a trend. The continuation pattern is just a short set back in the opposite direction of a trend. The method propose to take advantage of this pattern the following way. You check that your current period is the highest or lowest of previous 7-8 periods without being the highest or lowest of the last 30 periods. Then you are in position to take advantage of the continuation pattern in a trend.
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Forex advantage blueprint propose to use 15 minutes period and use EURUSD and GBPUSD between 2AM and 3PM standard eastern time. In fact it is even better if you start at 3AM and stop at around noon based on my own experience.
You will get several trade opportunity every day between 3 and 5 on each pair.
Forex advantage blueprint proposed to use 2 technical indicators along with the pattern recognition. They use bollinger bands and a derivative of RSI and stochastics. From my own experience with the method, I don't think it is necessary. Those indicatos help in filtering the trades but it makes the method a bit more complicated. I managed so far in a month to get 4 good trades out of 5 without that.
The method use a very strict risk management system. The maximum loss is 25 pips. They propose several ways to
exit the trade.
- Fixed profit like 30 pips. In my experience with the methos i think between 20-25 is better.
- Use a trailing stop of 15 pips
- Wait for a reversal signal.
Personnaly I like to trades 2 lots. When i reach 20 pips I close 1 lot and let the second run until there is a reversal or if I get like say 40 pips. Trade exiting is very personnal.
On top of Forex advantage blueprint method I suggest to use also support and resistance as a second pattern to initiate a trade. You can check for 15 minuts as well as 1HR to spot a support and resistance.
Forex advantage blueprint claims to have a 70% success rate and an average win higher than average loss.
In fact I get an even higher percentage with adjustements I suggested in this page. The drawdown is minimal with this method and if you stay disciplined you will get every day profit with this method.
I strongly recommend this forex trading system. Forex Advantage blueprint
Easy forex trading system. 100% mechanical. High profit. Low loss
