The Puria Method Forex strategy is the trading system that allows to make at least 50 pips every day.*
Before reading the article and writing your questions in comments section, I recommend to watch this video. It’s not long, but covers biggest part of questions on the topic.
*Authors words, i actually do not agree, but read the article to the end to make your own conclusion. (Pipbear’s edit)
I think we should start with the currency pairs you need to trade, which price chart and at what point you need to close the profit order. The Take Profit order is not that large but I think it’s good enough to earn little money every day and have a good profit at the end of the month.
You do need to take the profit because if you don’t, the market will take your deposit away, which is much worse…
I suggest using the following currency pairs in the Puria Method strategy:
- AUDJPY — M30 — 15 pips (that is, we should close the trade at 15 Take Profit pips):
- NZDUSD — 1H — 25 pips
- USDCAD — H1 — 20 pips
- EURGBP — H1 — 10 pips
- USDJPY — M30 — 15 pips
- GBPUSD — М30 — 20 pips
- USDCHF — M30 — 10 pips
- EURCHF — H1 — 15 pips
- AUDUSD — M30 — 10 pips
- EURJPY — M30 — 15 pips
- CHFJPY — 1H — 15 pips
- CADJPY — M30 — 20 pips
- EURUSD — M30 — 15 pips
Now let’s talk about the rules for conducting trades in accordance with the Puria Method Strategy:
- Set the Moving Averages on the 1-hour (H1) or half-an-hour (M30) charts — depending on the conditions listed above:
- Moving Average #1: The MA period — 85, the MA method — Linear Weighted apply to Low, the moving color — red.
- Moving Average #2: The MA period — 75, the MA method — Linear Weighted apply to Low, the moving color — red.
- Moving Average #3: The MA period — 5, the MA method — Exponential apply to Close, the moving color — yellow.
2. Set the MACD indicator with the following parameters: the fast EMA – 15, the slow EMA – 26, the MACD SMA – 1.
All the trading platforms (including MT4) have these indicators.
That will allow you to exit the market as soon as possible.
Making a Short Trade
Open a short as soon as yellow moving crosses 2 red movings top down and you get a confirmation from the MACD indicator along with it (one bar has closed below the zero level).
Making a Long Trade
- Open a long as soon as yellow moving crosses 2 red movings bottom up and you get a confirmation from the MACD indicator along with it (one bar has closed above the zero level).
- Set the Stop Loss order at 14 pips (the maximum value) since the transactions almost never close by the Stop Loss order.
- Set the Take Profit order in accordance with the currency pair you have chosen. Look through the table at the beginning of the article.