Contents:Every trader has their own favorite strategies as the major weapons on the battlefield. However, as their competitors on the Forex market is getting tougher each day, still they keep on researching and experience new strategies. To satisfy such vital demands, today we bring a Forex Strategy named Puria Method into the spotlight – a specially designed trading system which may bring your profitability to a whole new level of even 50 pips a day.
Overview of the Puria Method Strategy
After being tested, the Puria Method works the best with the following currencies pairs:
- AUD/JPY - M30;
- NZD/USD - 1H;
- USD/CAD - H1;
- EUR/GBP - H1;
- USD/JPY - M30;
- GBP/USD - М30;
- USD/CHF - M30;
- EUR/CHF - H1;
- AUD/USD - M30;
- EUR/JPY - M30;
- CHF/JPY - 1H;
- CAD/JPY - M30;
- EUR/USD - M30.
It is a highly recommended method for binary options traders who prefer a simple chart with easy-to-spot indicators. Puria Method requires indicators available in Finmax’s advanced charts with three Moving Average lines with different periods and one MACD, which are simple enough to be set up quickly and show clear indicators to have the best strike price. A powerful gun is made for not only veterans but also Johnny Raw.
Installing the machine:
1. Set the MA on the hour (H1) or half-hour (M30) charts (see the time hints for each currencies pairs above)
- Moving Average 1 : Period MA - 85, Method MA - Linear Weighted, apply to Low, color Moving - choose red;
- Moving Average 2: Period MA - 75, Method MA - Linear Weighted, apply to Low, color Moving - choose red;
- Moving Average 3: Period MA - 5, Method MA - Exponential, apply to Close, color Moving - select yellow.
If you like this strategy, you might also like this Vortex Indicator Trading Strategy
2. Set the MACD indicator with the following parameters: Fast EMA 15, Slow EMA 26, MACD SMA 1.
Conditions for purchases in the Puria Method:
- Make a buy decision right when the yellow moving average crosses the two moving averages upward and the confirmation from the MACD indicator is received (one bar closed above the Zero level).
Conditions for sales in the Puria Method:
- Make a sell-out order when you find the yellow moving average crosses the two red moving averages from top to bottom and the signal from the MACD indicator is clear (one bar closed below the Zero level).
Important rules when applying this strategy:
- Traders should open one position at a time only;
- Being patient until the candle of confirmation is totally closed is important;
- The order should be set expired in eight hours on the H1 chart;
- All signals must be received in a trading day;
- The maximum risk for each transaction should be 2% of your total balance.
Pros and Cons
- Provides clear indicators for intraday traders.
- Requires built-in indicators only.
- Easy to set up and track.
- Provides detailed instruction on buying and selling conditions.
- Necessitates consistent market observation;
- Emotion must stay under high control.
The Puria Method is a simple technical strategy with high profit and quality indicators. Given many advantages and a very suitable time frame in a day, we hope it will play an important role in your coming trades and potentially yields profit in the long-term period. Remember to apply strict money management and keep your mind clear as there is no 100% perfect strategy in the world of Forex trading.