This should realistically take you only a week to become an expert at ‘paying’ yourself on any day of the week.

1. Trading time: After 8:00am EST
2. Look at the data release calendar for the day
3. If there is critical data due, you want to enter a trade after that time
4. If there is no data, you want to trade from 9:30am EST
5. Chart setup: 30 min time frame; SMA 20; Momentum 5
6. Entering the trade:

Price closes and stays on top of SMA and momentum greater than 0, LONG
Price closes and stays below the SMA and momentum less than 0, SHORT
7. Exiting the trade: 10 to 20 pips profit minimum.
8. Stop loss 20 pips (use a stop loss order always when placing your trade
in the first place)
9. Position in trouble if price crosses and closes on other side of SMA -
CLOSE TRADE at that point no matter the pip value and possibly reverse to
cover losses once condition 6 above holds

Variations: can be applied to any trading session or time that has adequate volatility. I have chosen the NY session because it is almost always packed with the required movement.

© Help for New Traders