Withaai

Session Trading Strategy

FX:XAUUSD   Gold Spot / U.S. Dollar
This strategy involves using the trading sessions of all the markets. I created this because the NY and London sessions are more volatile and you then make more losses when making the wrong call.
Here are the steps to this strategy.
1. Find an indicator to show the trading sessions.
2. Trades on this strategy must be opened between 30min to an hour before close of NY session.
3. Draw a line from the London open price to the NY closing price, this will give us the trend we will use.
4. Open your trade in the direction of the trend, so if you have an uptrend between the London and NY session you will open a long and if it is a down trend you will open a short.
Trades must be closed at end of Asian session or left at own risk.
5. I do not use a stop loss on this yet, I use small limits taking 100pips of XAU/USD             and 10pips on AUD/NZD             , the only reason I take only small profit is that I am sleeping during these hours and found that when taking these pips that I have a 100% win so far. Increasing your $ per pip will increase profit.
6. This strategy is not recommended to be used on start of week and end of week.
7. If you trade live during these hours it is possible to make more pips. Also I will test this on other currencies later.

Please feel free to leave comments or ask questions.
How to find out London, NY and Asian Trading session?
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Session Trading Strategy. is like sailing with the line of stream
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I believe this Session Trading Strategy.
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