It also has some trading
suggestions to help with making good trades during “regular
2. The New
York News system can be used only with the GBP/USD pair.
3. The “One
pip" rule and "News candle" rule can be applied to
any currency pair at any time.
4. The MK
Session Trendlines can be applied only at 4 specific times of the
day but can be used for any currency pair.
As you all probably know, everything in our world has to deal with numbers. The most successful trading theories are based on mathematical calculations and functions. The science of math created Pivot Points that are widely used on trading floors, Fibonacci ranges that are used not only in trading but in other aspects of life as well. All technical indicators are based on different mathematical formulas and averages.
I looked at all the numbers that are generated in the forex market during times with high momentum, such us news times and I came up with some formulas that will help everyone during these times.
This ebook covers five trading systems that Monika Korzec uses. Three of them are extremely simple and can be used for any currency pair at any time. They are called the “One pip candle”, “News candle” and MKS Trendlines.
The other two systems are a little bit more advanced, so I am going to mention few things about each of them:
8:30 am EST News Time system:
For mechanical entry & exits we are using 19 or75 pips as a target (including spread) and we have 3 types of stops: 20, 25, 40 and 80. Depending on the setup we will be choosing our stops accordingly. When we go for 75 pips we use 80 pips stop, this setup is only for trading the news on first Friday of the month.
London Open system
strategy for London Open seems to be working very well at this
time we enter trade we target 30 pips, and our stops are 50 pips.
Most of the trades that are 50+ overlap the 8:30 news, so if
you would like to trade both systems, you need to be able to have
two trading lots available, just in case LO doesn’t clear before
I noticed that more often than not, the trend is setting up
with London Open and continues for the rest of the day.
If you are good with technical analysis, and you stay in the
trade based on my entry point, you will do well….
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* The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts.
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