When I started trading forex, I focused on a simple method called the Breakout Technique.
This gave me consistent profits throughout the week, ranging from 100-200 pips. Obviously, some days were better than others.
- Focus on the GBP/USD pair (1 hour chart)
- Mark out the candlesticks between midnight GMT and 8GMT
- Draw two horizontal lines at the high & low for that time frame
- When the London session begins at 8GMT, take a buy or sell order 10 pips above the high (or low) for that day
- Set your Take Profit at 30 pips & Stop Loss at 40-45 pips
- Once in profit, you can trail it to make much more than 30 pips per trade
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