The FGM Profitable Forex Strategy is a crossover trading strategy mainly based on the three moving averages and one trend filtering indicator.
This strategy fits all kinds of timeframes and mt4 currency pairs.
How does it work? How to apply in forex trading?
Trading Rules Explanation
The entry point for buy long trade occurs when the following conditions are met:
- the FGM 8 moving average (blue) is above the FGM 21 moving average (aqua);
- price stays above the FGM 50 moving average (yellow);
- ProfitableStrategy1 indicator color turns green;
- you can set the stop loss a few pips below FGM 50.
The entry point for short sell trade occurs when the following conditions are met:
- the FGM 8 moving average (blue) is below the FGM 21 moving average (aqua);
- price stays below the FGM 50 moving average (yellow);
- ProfitableStrategy1 indicator color turns red ;
- you can set the stop loss a few pips above FGM 50.
Exit Trade / Take Profit
Exit trade when the FGM 8 cross below FGM 21 when long trade, and when FGM 8 crosses above FGM 21 when short trade.
In the picture above, you can see the FGM Profitable Strategy in action.
As always, to achieve good results, remember about proper money management. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the FGM Profitable Strategy in MT4?
- FGM profitable strategy.tpl
Copy and paste indicator files into the MQL4 folder of the MetaTrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Similarly, copy and paste the template file to the Templates folder.
Now, right-click on the chart, and hover over Templates. You will have displayed a list of available systems; left-click the template name you want to run.
The FGM Profitable Strategy is worth adding to your trading collection but remembers to have realistic expectations. Like any other technical analysis tool, it cannot provide accurate signals 100% of the time. Thus, it will give false signals occasionally. Its performance will vary significantly depending on market conditions.