Forex Strategy: Playing the BIG figures
Nimble Forex traders use big figures to book fast gains in the Forex markets. One recent such setup on GBP.USD is as follows:
1. Limit order to buy at 1.5500, Stop loss at 1.5480, Profit Target at 1.5505
2. Limit order to buy at 1.5495, Stop Loss at 1.5480, Profit Target at 1.5505
3. Limit order to buy at 1.5490, Stop Loss at 1.5480, Profit Target at 1.5505
Entry levels are marked on the chart below by blue horizontal lines, stop loss at the red horizontal line and profit target at the green horizontal line. GBP tested the 1.5500 big figure several times over the past two sessions with all tests resulting in profitable trade setups for BIG figure traders.
GBP 5 minute bars
There are two great aspects to the Big Figures Setup
1. It is totally set and forget: all orders can be left with the broker as ‘OCA bracket orders’. It is either ‘filled or killed’ within your specified time period.
2. It is a high probability setup which has produced a high historic winning % of trades.
Filters to improve the BIG figure Trade Setup further:
1. Only buy at the 00 if we are currently oversold on the daily time frame, as measured by the 2 period RSI reading < 15.
2. Only sell at the 00 if we are currently overbought on the daily time frame, as measured by the 2 period RSI reading > 85.
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The Big Figures Trading Strategy plus many more Robust Trading Strategies can be found at our Forex Strategy Pages.
