Every good trader has a strategy (or many). There are many good strategies out there – not just one. Stop wasting your time looking for “the best” strategy. It doesn’t exist!

Below is a strategy to get you started. We’ll progress to more advanced information in the e-books that follow.

Setting up the Platform

Add a 5-period simple moving average (SMA) and a 14-period RSI (relative strength indicator) on a 5-minute candlestick chart.

When to Enter

BUY when the price crosses over the 5 SMA line by 5 pips and the RSI is greater than 50 (over the middle line).

SELL when the price crosses under the 5 SMA line by 5 pips and the RSI is less than 50 (under the middle line).

Your Stop

Set a stop loss order 10 pips away from your entry price.

When to Exit

Exit when the price moves 10 pips in your favor.