End of Day Forex Trading Strategy (Passive Trading Profits)

[@AlexOng]

I hope you enjoy this video and find success with this strategy

[@ianm8031]

Hi Alex, I actually use this same strategy to currently trade a prop firm funds. The only variation is that I incorporate the 50ema also. I use it only on the daily chart as I risk only a fixed dollar amount per trade and so far it has been very profitable for me. My win rate is approx 60% with this strategy but bare in mind I do counter trend also with this strategy back towards the 200ema.

[@AlexOng]

That's awesome. I am glad to hear it is working well for you. We have a similar variation with the 60 EMA as well :)

[@japanluv]

Hi. What risk reward ratio?

[@AlexOng]

@@japanluv 1:1 to start with. :)

[@Johndoe-qn9jr]

Hi are you also using a 1:1 riks to reward ? how profitable have it been what percent gain do you make in a mounth or week with 1 percent risk per trade ? Thank You

[@Veryhangrychair]

If you don't mind me asking, but are you still trading this way as of today, and do you only counter trend trade back to the 200 ema after price has passed the 50 ema? Thank you so much 🙏

[@Youaregreat88]

Hello Alex, I have watched this video many times, and each time will have different insights. Great video though! One question... What if the D1 price of a pair trade up and down of the 200EMA, and how do you determine the overall trend, or for this scenario, do you buy when price above 20EMA or sell when price below 20EMA for 2 consecutive candles (even if the candles are bearish and bullish)? Thank you.

[@Ukmagic80]

Can you enter on the second or third momentum candle or should you go for thr first one incase the trend changes?

[@fredysoto8547]

Thanks! I love Traders that not Sell anything!!

[@amarsanaagalbadrah4144]

stop loss very big?

[@tommyb540]

Hey Alex, thanks for this great vid. My only question is what if a momentum candle is level with a clear area of support or resistance. Should you still take the trade? Or wait until you see the reaction?

[@tommyb540]

Also, is the stop loss not huge?

[@Johndoe-qn9jr]

Hi how mutch do you make in a regular mounth trading this strategy in percent gain ? and will the winning rate be lower if i move down to 4hour or even lower like 1hour or 15 min timeframe ? what winning rate do you have and would it be possible to have a risk to reward of 1:2 ? Thank You

[@feldermind]

Such a plain and simple strategy that just allows you to Set it and be on your way! Very interesting.... I feel like i would only touch nano lot order sizes for this haha! How long would it take to scale up? I definitely enjoy this strategy so much, just doesnt seem stressful at all.

[@AlexOng]

The great thing about this approach is that you do get a good volume of trades so the opportunity to scale quickly is there! In terms of time, that will of course depend on how quickly you get to grips with the system

[@PakFan786]

on the daily candle if the stop is 200 pips away, then your pip value will have to be 0.01 lots to cover this stop loss. is there anyway to enter on a pullback rather then above a candle.

[@7eventhSense]

Hi Alex, this looks like a great strategy. I have one question about the two bar stop. What if there is a red candle and then a green momentum candle that produces a wick below. For example the candle at 14:25 if it closed higher. (Basically engulfing hammer candles) Do you just put stop below the wick? or is it just invalid?

[@AlexOng]

Thank you for your comment. Yes I'd just put it below the wick. So essentially it is the lowest point of the last two bars.

[@7eventhSense]

@@AlexOng That makes sense. Thanks for the reply.

[@baz914]

Hi Alex, when trading on the daily chart at end of day Forex (New York close), we place trades after 5pm EST(10pm GMT) but when is the cut off please?

[@seanvos6940]

Hi Alex, you posted a strategy very similar to this quite a while back which I use as part of my trading tools, however it was the 10 and 100 moving averages that you used. Do you still use those or have you found the 200 and 20 moving averages more reliable? I do use 200ma as well as the 10 and 100 as your original strategy...

[@AlexOng]

Hi Sean, Thank you for your message. I have found this strategy to be more reliable. It keeps you with the trend and momentum that little bit longer and doesn’t get as messy in choppy markets. Both work well as the principals are the same, but this is the one I am using today. I hope this helps. Thanks Alex

[@nathanmangham3515]

Hi could you please explain what you mean by close of the candle needs to be within 20-30% of the high and lows please

[@WynterLantyrn]

I think "within 20-30%" can be misinterpreted. I think a better phrasing is "less than 30%" away from the high/low. Using "within" makes me think that it has to be between 20-30%. Is that just me? Probably! 😄 The candle, from wick to wick, is 100%. The most recent candle on the far right looks like it doesn't have a wick at the top (if it does then it's really small), so it closed at its high (it closed 0% away from the high). The momentum candle on Aug 8th closed close to its low (the wick at the bottom). Divide the candle in half (50%) then divide that lower half in half (25% and 25%) and you can see that the close is less than 25% away from the low; something like 10%.

[@AvinashBhatia-c4v]

Hi Alex, Great video, would like to ask, do you incorporate support and resistance factor in this strategy ? Also what if after the momentum candle (in a buy position for example) the market goes down and after few candles it crosses the momentum candle, can we mark our entry point from 3-4 candles after momentum candle, as you had shared in the video that it should cross the high of the momentum candle (bullish scenario).

[@AlexOng]

Yes absolutely support and resistance levels are always considered. I would still look at it a few candles later, but if we get a complete reversal or 7+ candles consolidation, I'd wait for a new momentum candle.

[@rafaelaleixo190]

Amazing straightforward strategy Alex. Have you tried with indices like FTSE100, S&P500, DAX40 etc?

[@AlexOng]

Thank you. Yes it works well with most markets

[@davidcaple5547]

Hi Alex, another great video ... thanks. May I ask ... you chose the 08/08/22 candle as your momentum candle but in that phase of downtrend price movement were there not some previous momentum candles? I can't give you the exact dates but around the 8th and 27 July (22 and 9 days previous).

[@WynterLantyrn]

Yes, they are both valid momentum candles BUT, personally, I would only have taken the trade with the 9-days-previous candle *if* I had taken the trade with the 22-days-previous candle. Why? Because the 22-days-previous candle is only the second candle to form after price dropped below the 20EMA, whereas the 9-day-previous candle is the 15th candle to form after price dropped below the 20EMA; and with each additional candle, the more likely the momentum will fizzle out. That's the way I see it, anyway. 🙂 I would want to maximize the number of winning trades by being in at the start of that move below the 20EMA.

[@rafaelaleixo190]

Alex, is there any variation of this strategy at all? It is ok when the price is above the 20 and 200 SMA but when it's not, there are no opportunities at all! Market right now is trading well below 20 SMA

[@AriesWarlock]

You can trade bounces off the 200 SMA.

[@stephenconner-py1gk]

Yes! Thank You

[@lisah7020]

Hi Alex thanks for a great strategy. Could it be used on 4 hr? Also, could it be used on other instruments such as commodities, indices?

[@AlexOng]

Yes absolutely. It can be used on the 4 hour as well and the other instruments. It is price action based so is very broad in terms of where you can use it.

[@paulmorgan8426]

Hey Alex what happening to your sports trading?

[@AlexOng]

Hi Paul, I don't focus on it as much anymore which is why I do not make videos about it. Typically I will make videos about what I am doing personally. I hope this helps. Thanks Alex

[@quartamile]

Ok, but working half an hour a day is not set-and-forget passive. Does a true set-and-forget bot exist? Thanks

[@karanproductions1136]

Hi Alex, this strategy is excellent and very beginner friendly. Great work brother. Could you also share what all currency pairs you trade? So that we also know what pairs are stable enough for this strategy?

[@AlexOng]

Hi Karan, yes sure. I trade all of the majors, minors and crosses.

[@TradingAffiliate]

awesome

[@kevinali3700]

All facts