Intraday Forex Trading Strategies -Create your own Forex Trading Strategy

Intraday trading is highly risky and not suitable for every Forex trader. To succeed as an intraday trader, you must have a precise trading plan, an effective MM system, and the discipline to apply both. A logical rule-based approach that accounts for different market conditions is essential when trading on small timeframes.

 

Intraday Trading & Basic Requirements

 

Trading intraday is very risky and not suitable for all Forex Traders. To evolve as a successful intraday Forex trader, you need to have a very specific trading plan, a money management system, and discipline to implement both. A set of logical rules covering all market conditions can help you when you are trading in tiny timeframes.

Never be emotional with your trades. Emotional trading is a disaster when trading intraday.

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The Importance of ECN/STP Brokers

Choosing a reliable Forex broker is crucial. ECN/STP brokers are ideal for intraday trading, offering low-cost trades and fast execution with minimal slippage. Key features to look for:

• ✅ Tight spreads and low commissions on your preferred trading pairs

• ✅ Optional rebate programs to reduce trading costs

• ✅ Fast execution with no price manipulation (true ECN model)

• ✅ Full support for scalping strategies

In contrast, Dealing Desk brokers (market makers) cannot provide these benefits. They create internal markets, resulting in slippage, execution delays, and price manipulation.

» Compare ECN/STP Brokers

 

 

Building your Intraday Trading Strategy

 

Begin by gathering trading ideas. These may come from price behavior, pattern recognition, statistics, and more.

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Trading Ideas for Strategy Development

• Analyze historical charts to understand Forex price action

• Study the impact of Forex session overlaps

• Investigate the influence of specific days of the week/month

• Examine the historical effects of major news events

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Using Technical Analysis

• Use moving average crossovers to identify trends

• Apply Bollinger Bands or Parabolic SAR in ranging markets

• Use RSI (21-period) on M5 charts to detect reversals

• Learn to use Ichimoku Kinko Hyo

• Add daily pivot levels and observe reactions at these levels

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A Typical Framework for Designing Your Strategy

Here are common components to consider:

• Combine two technical indicators

• Use two timeframes (e.g., trend from H1, entry on M15)

• Perform historical backtesting

• Test your strategy on a demo account before going live

• Define your money management parameters (trade size, leverage, SL, etc.)

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Choosing When to Trade

Not all hours or days are suitable for trading. Learn about session overlaps—these periods provide high liquidity and better opportunities.
Identify strong trends or strong price ranges:

• In a trend: follow it with a trailing stop

• In a range: use the limits to set take-profit and stop-loss orders

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Making Things Simple

Forex is already complex. Keep your strategy simple, clear, and tailored to your trading personality. Whether using technical analysis or other tools, clarity is key.

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Managing Risk

Risk management is the cornerstone of successful Forex trading. Professional traders hedge and diversify their portfolios. In contrast, many retail traders over-leverage and eventually lose their capital.

✔ Trade small

✔ Always manage risk like a professional

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Automate Your Trading Strategy

Advanced traders often automate their systems using Expert Advisors (EAs). MQL4 developers can code your strategy for $50–$500, depending on complexity. Once developed, test the EA in MetaTrader 4 using historical data.

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Creating Automated Trading Systems without any Programming Skills (EA BUILDER)

 

If you lack programming skills, EA Builder offers a powerful and user-friendly platform to create indicators and EAs without writing a single line of code.

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EA Builder Basic Features (for MT4, MT5, or TradeStation)

• 100% Web-based App (PC, MAC, or Linux-based computer)

• Free for creating indicators, requires $97 (one-off) if you need to create EAs

• Full set of built-in functions (including even trendlines and time parameters)

• Full Money-Management system modules

• The outcome is a single compiled MQL4/MQL5 file, ready to trade

• Compatible with MT4, MT5, and TradeStation platforms

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The EA Builder is an application that can transform trading ideas into indicators or Expert Advisors (EAs). It is important to mention that to use EA-Builder you do not need to have any programming skills. Even beginners can use the application.

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Automated-Trading Functions

• Full functionality (time, support & resistance, trendlines, etc.)

• Insert multiple money management systems (Adjust Lot Size, Number of Contracts, etc.)

• Develop EAs for trading any market using any instrument (including Binary Options)

• EA Builder Output is human-readable and it is included in a single file

• Martingale / Anti-Martingale techniques

• Customize Time Preferences and select even specific Days / Hours to trade

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Start Building Indicators for Free

You can use EA Builder to create MT4/MT5 indicators for free—no time limit. Later, you can convert these into fully functional EAs. The full version costs $97 (one-time).

» EA Builder Free for Creating MT4/MT5 Indicators

 

■ Intraday Forex Strategies -Create your own Trading Strategy

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