Trading with Average Daily Range

[rockstar]

1- Close out any open position

2- Cancel any unexecuted orders

3- Set an Entry Buy order 1 pip above previous high

4- Set an Entry Sell order 1 pip below previous low

5- Set stops and limits using the following guidelines:

50 pip profit target, 25 pip stoploss if ADR Above 200

40 pip profit target, 20 pip stoploss if ADR BETWEEN 175 and 199

30 pip profit target, 15 pip stoploss if ADR BELOW 175 Do not trade if ADR is below 100

How to calculate ADR (Average Daily Range)

It may be easiest to use an excel spread sheet for this.

Take the H/L for each day. for the past 14 days.

For each day list the amount of pip's between the H and L

Ex. H=1.5623 L=1.5586

5623-5586 = 137

Add the total amount of pip's for all 14 days and divide it by 14.

This will give you the average daily range. Forex Average Pips: 250-300/month

[budado]

Its seems I already read this some where else. Anyway as I said before why will I going to follow this first instruction?

1- Close out any open position

You open a position and you want to close it without any reason simply because you want to try this new strategy? That's an automatic loss. Don't close an open position unless theirs a reason that you believe its going to make you loss more if you don't or decrease your profit if you don't.

[ATSATS]

is it work?? if work then you are most welcome. i am searching this kind of technique and get also some technique but thats are failed. but still i searching this kinds of technique and i am sure that one day i will get a best technique for trading in forex. i have confidence.

[appscoin]

not work