hello the strategy i use depending on two parts the first one start
point on candle and the second one start point trade event i work on
the instrument EUR/CHF . I made the max spread that opens trades at 2
points because of the high spread in the asian period and to avoid it
with the opening of markets . THE FIRST PART every day checks
situation in the market by measuring 1 hour RSI and if RSI is higher
than 75 short position of 10M, TP 4 pips, SL 60 pips is opened and if
RSI is lower than 25 long position of 10 M, TP 4 pips, SL 60 pips is
opened . the second part opens 1 or more positions during day (if
there is no open positions from previous day) until some position is
closed with profit.. Amount of first position is 3.5M, amount of
second and following positions is increased 2 times. Before using this
amount for trade check if there is enough margin is made. If margin is
not enough amount is decreased in order to conform margin
requirements. Additionally initial SL is increased by 10 pips and TP
is increased by 25 pips. Initial SL is set to 45 pips, TP is set to 11
pips.First position is dedicated for benefiting from daily candles
tails. Strategy checks if rate is higher or lower than daily candle
open value by 10 pips and if it is a case opens SHORT or LONG
position. Principle of such logic is that daily candles usually have
tails and move to one direction is usually followed by move to another
direction before daily trend is unveiled. If this trade not succeed
another trade is opened by using principle described above. Principle
of second and following trades opening logic is that larger movement
to either direction (SL is set to 55 pips or more) usually is followed
by some pullbacks. As second and further positions amount is higher
and TP is bigger following positions is also dedicated to cover
previous positions losses. (first and second (second depending on
accrued balance) following in full, third and further partially).
You can check my blog :
https://www.dukascopy.com/fxcomm/blog/?action=post-show&post_id=223185