A Fifteen Minute Strategy – Strategy M as a Home Made Strategy!

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A Zero to a Million Trading Strategy

SPECIAL REPORT: Jack’s “Zero to a Million” Trading Strategy

Right now I’m revealing what my trading strategy is for the “Million Dollar Forex Journey” account! If you want to see an additional strategy you can try out our profitable double trend trap strategy.

  • We’re going to make a million dollars (or more) through forex trading.
  • We’re going to do it in 18 months (or less).
  • We’re going to start with next to nothing, $50.

I’m going to give you the basics of my trading strategy today. Then I’ll share more details about it in future follow-up articles.

This strategy IS designed to consistently offer excellent risk/reward opportunities. When executed with a modest amount of intelligence, lucky for me that’s all it requires, should consistently produce winning trades. The trades will outnumber and outpace losing trades. Here is another strategy called, Time-Based Trading Strategy.

MY 15 MINUTE CHART STRATEGY

HERE IT IS. The deep, dark, mysterious, intricate, and secret system. It was worked out by an ancient Chinese Taoist sorcerer. It was kept closely guarded for centuries by inscrutable Zen currency traders:

Open a new chart, set the time period to 15 minutes. Load 3 EMAs (exponential moving averages) – the 5, 10, and 50 EMA. When price and the 5 and 10 EMA lines all cross above the 50 EMA line, buy. Or, conversely, when they all cross the 50 EMA line, sell. I know, I know – the complexity of it is staggering, right?

You can also add the 21 and 35 moving averages – as well as the 100 and 200 SMAs (simple moving averages). Just for higher time frame reference – but the 5,10, and 50 provide the basic trading strategy. I use EMAs weighted to the close – but that’s my personal preference.

I’ve adjusted things a bit to my own personal trading style. But the credit for this outstanding strategy goes to a friend and fellow trader, Clay Ferrell. He was nice enough to share it for free at the Forex Factory forum. You can read more here, “Trading Systems CHOROS System.” But fair warning, there are 500+ pages of discussion – and that’s not even the original discussion thread.

The original rule is to enter on the first retrace touch to the 10 MA. After price and both MA’s have crossed over the 50 MA. However, I often enter when the price has crossed and made a 15-minute candle close past the 50 MA. I do that because I’ve found that price itself is a better indicator than any moving average. And because patience is not one of my virtues.

The initial stop loss shouldn’t be more than 10 or 12 pips, at most, below (or above, in a sell trade) that 50 MA line. It shouldn’t be more than 10-12 pips away from your entry point. One of the main strengths of this strategy is its low risk. The theory behind this strategy is that once that 50 MA line is crossed by all three – price, the 5 MA, and the 10 MA – the 50 MA line should hold as the support/resistance. It works best when the 5 and 10 Mas are both rising at a fairly steep angle. The 10 MA line should continue to rise (in a buy trade), and also act as initial support for the price.

Eventually, the price will come back through the 5 and 10 MA lines and test either the 35 or 50 MA line. The FIRST time this happens, the 50 MA will usually hold. That is, there probably won’t be a 15-minute candle close significantly (i.e. not more than 4-5 pips) to the other side of it. And often price will just touch the 50 MA line and immediately bounce off of it. The game is often over the second time that the 50 MA is challenged. It’ll give way, price and the shorter moving averages will all decisively cross back over it in the opposite direction.

This is a short-term trading strategy and it’s important to move your stop aggressively once you have a profit of about 10 pips. It is better to get stopped out with just a small profit than to let a profit turn into a loss. Many times, I’ve been stopped out with a small profit. I initially wished I was still in the trade and am tempted to jump right back in. But an hour later, I end up thinking, “Boy, I was sure lucky to get out with a profit on that.”

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Below is a screenshot of a 15-minute chart showing movement both above and below the 50 EMA line. Note how once there’s a significant move above or below the 50, the 10 EMA tends to act as support/resistance.

And here’s another – note the pin bar that precedes across up and over the 50 EMA, that could then have been ridden for a very nice profit.

I urge you to set up your own charts with the three moving averages and watch the market action for yourself.

That’s my basic 15-minute trading strategy. Of course, it’s not quite that simple in actual trading and there’s a bit more to it than that, too much for me to cover in the space of one article. I’ll provide more rules and trade filters for using the strategy in upcoming articles, so stay tuned.

Believe it or not, if we can simply average catching one good trade a day with this strategy, we will make it to our goal of a million dollars in 18 months or less.

1 – Learning. You have to become an expert in your business, and that’s certainly true if your business is currency trading. You need to put in the time and effort to always be learning how to improve your trading.

2 – Patience. Starting a business with less than $100, and making a million dollars in less than two years sounds fast. And it is. But it can seem oh so slow in the beginning. When you’re only seeing $5 or $10 profits, it doesn’t feel like you’re getting anywhere. You want to be already up there making the “big coin”. But you simply have to steel yourself to be patient, to be content with gradually increasing your equity. Just averaging small daily profits will make that million dollars a reality. You might even try reminding yourself every day you make a small gain, “I’m doing it – I’m making a million dollars.”

3 – Diligent adherence to a good, solid trading strategy. It’s amazing how many traders discard a basically sound strategy just because it has a few losing trades. They forget all the times it worked wonderfully. No trading strategy is going to work every time – nothing’s perfect. But I’ve found that a number of times when I thought, “Oh, this strategy doesn’t work”, that I’d often lost money, not because of the strategy but because I’d departed from the strategy. For example, sometimes I’ve jumped the trade too early, getting in as soon as price moved across the 50 EMA line – I looked back later and saw that there was never a 15-minute candle CLOSE across the 50 EMA – I’d violated the rules of my own strategy. The trading strategy wasn’t at fault – I was.

MUCH MORE TO COME: I’ll be back next week with more information on my basic trading strategy (and on another one I’ll be using) and how you can follow the progress of the Million Dollar Forex Journey account, seeing each trade I make. As always, I welcome comments, suggestions, prayers, and gifts of chocolate and liquor.

“As you have freely received, freely give…” – (Matthew 10:8)
Jack Maverick
Jack Maverick is a writer and forex trader. Find him on Google+ at https://plus.google.com/u/0/103534926809963693894/?rel=author and check out his novel, the psychological thriller “A Cross of Hearts”, on Amazon at http://www.amazon.com/Cross-Hearts-J-B-Maverick-ebook/dp/B006GHJ0ZC/

Thank you for reading!

Please leave a comment below if you have any questions about Zero to a Million Trading Strategy!

Also, please give this strategy a 5 star if you enjoyed it!

(53 votes, average: 4.06 out of 5)
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15-Minute Time-Based Strategy

DISCLAIMER: This is an idea to be developed upon. I am currently forward testing this live.

I have been thinking of a way to get in and out of the market in 15 minutes or less. Alas, I settled for 15 minutes because price can move decently in that time, but usually I’ll be ok with a 10 pip stop. The nice thing about this strategy is that it is timebased, so every 15-minutes you can exit a trade, or enter, or both. 15-minutes a trade. sounds nice. Again, this is all more theory that I am testing. It is by no means tried and true, just thought it up a couple days ago. Naturally, this will work better during trending periods, but that’s the only qualification for entry is that there is a trend, so I consider entries high probability.

1-Minute Chart
Simple Moving Averages(15,30,45,60,120,240,480)
I recommend EUR/JPY

S/L = 10 pips
T/P = 20 pips

At each 15 minute mark. Scale your chart so it shows 15-minute intervals. Enter on 8:15, 8:30, 8:45, 9:00, etc. If you don’t get this, I’m sorry

All SMA’s MUST be sloping up for LONG
All SMA’s MUST be sloping down for SHORT

When your T/P is hit, or at the end of each 15 minutes.

Also, if you get another signal the next 15-minutes, and you want to stick around for that, I would hold onto the current position, move your S/L to 10 pips from the next 15-minute entry, and move your T/P to the 20 pips from the new entry(TECHNICALLY, it’s a new trade).

Some times, I will fibonacci increase my position after losses. So, for instance, if I were to put in 1000 units the 1st time, and lose, I would do 1000, then if I lost again it would be 2000, then 3000, 5000, 8000, 13000, etc. I haven’t lost more than once in a row yet though.

The 15-Minute Opening Range Scalp Trading Strategy

By Galen Woods in Trading Setups on November 27, 2020

The 15-minute opening range scalp trade is among the ten scalping trade setups shared by Kevin Ho, a floor trader and a member of the Singapore Exchange, in his article in Chartpoint. It is a time-sensitive trade for the market opening of the S&P.

This opening range scalp trade is an excellent option for part-time day traders who can only watch the market for a limited time.

Opening Range Scalp Trading Rules

Rules for Long Trade

  1. Wait for the first 15-minute range to form
  2. Place buy order two ticks above the high of the range
  3. Exit with a 1-point loss or 1-point profit (or if the trade is still open after 1 minute)

Rules for Short Trade

  1. Wait for the first 15-minute range to form
  2. Place sell order two ticks below the low of the range
  3. Exit with a 1-point loss or 1-point profit (or if the trade is still open after 1 minute)

Trading Examples – Opening Range Scalp Trade

Winning Trade

Although this opening range scalp trade uses the 15-minute range, we used the 1-minute chart in our example to account for any whipsaw. In this case, the finer chart also gave us a sense of how quickly prices hit our target.

The black lines mark out the 15-minute opening range.

  1. Within the first 15 minutes, prices drifted up before a strong bear thrust took over.
  2. Almost immediately after the range formed, prices made a weak attempt to move up.
  3. The failure of the weak bull swing triggered our sell stop order placed two ticks away from the bottom of the opening range. In this case, setting the order two ticks below the range made all the difference. If we had placed the order one tick below the range, we would have shorted earlier and scratched the trade after a minute.

Losing Trade

Another opening of S&P E-mini futures shown using a 1-minute chart. While this opening range scalp trade was hardly profitable, the 1-minute time stop rule coupled with proper execution would have helped us to exit at break-even, incurring only the commission.

  1. Within the opening range, there are many small bars and dojis, which are signs of a trading session with contracted range.
  2. The buy order was triggered two ticks above the range but scratched after 1 minute. Not a bad outcome for a losing trade.
  3. Having a time stop was fortunate as the following congestion was terrible and might subject the anxious scalper to an emotional roller coaster.

Review – 15-Minute Opening Range Scalp Trade

This opening range scalp trade is straightforward and requires at most 16 minutes of your time.

As a scalping trade setup, its genius lies in having a fixed target and stop, coupled with a time stop.

In the losing example, we managed to minimize our loss by using the time stop. For scalping strategies, the risk to reward ratio is not fantastic. Hence, a time stop is essential.

To put the odds in your favor, you can also pay attention to the price action within the opening range to glimpse clues of the odds of a successful break-out.

Bear in mind that you might need to revise the suggested target and stop, and the two-tick buffer between the range extreme and our entry. Kevin Ho’s article gave examples from 2003. Scalpers should adjust them according to current market volatility.

Due to the time-sensitivity and high volatility of the market during its opening, you will need a decent trading platform to execute this trade setup accurately.

Minimally, you must use bracket orders when placing your trades. Ideally, your trading platform should set the time stop automatically as well.

To learn more about this opening range scalp trading strategy, you can find his article on many of the day trading forums out there. If you are interested in scalping trading strategies, you will want to take a look at jjrvat’s method.

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