This strategy is simple to apply and takes little time. It is based on the idea of trading against the majority in market sentiment and diversification in many currency pairs. The strategy is optimal for beginner traders, as it has a stable foundation and is safe enough. The Supremacy strategy is applied on daily charts, respectively, opens one trade per day. The main currency pairs traded are: EUR/USD, GBP/USD, USD/CHF, EUR/JPY, AUD/USD, USD/CAD.It is believed that the majority of speculators in the market lose, i.e. suffer losses, and this percentage can reach more than 90%. With this in mind, this Supremacy strategy is being built. To find out which way most traders try to trade, we use myfxbook monitoring service. This service receives information about positioning of traders all over the world and practically from all brokerage companies. Accordingly, all received statistics on the auction is provided in free access to all registered users. There are two ways to see this information: to look at the site or to use the mood indicator “Forex Insider”.In order to see the percentage of open trades on each individual currency pair, we study the information on each currency pair on myfxbook on the “Communities / Outlook” page. For us, one thing is important: the number of open transactions (as a percentage) for buying and selling.We select currency pairs with the ratio of long and short positions not less than 60% in one or the other direction. The “Forex Insider” mood indicator can be downloaded from this page. To make it work, it should be installed in the MQL/Experts folder and registered on myfxbook site.
Then we enter the login and password in the settings of the indicator. The “Show_Mode” parameter allows you to choose the option “current symbol”, which shows only the current currency pair on the chart, or the option “all symbols”, which displays all financial instruments. The “Symbols_Count” parameter defines the number of pairs.After we have defined a currency pair with a corresponding bias on sale, we pass to its daily schedule and at the close of a candle (the end of a trading day) we open two transactions on purchase. The first trade is opened immediately at the market price. For the second position, a pending Buy Limit order is set at the minimum level of the daily candlestick. The conditions are the same for sales.Stop loss and Take Profit levels should be selected for each currency pair individually, based on the average daily volatility. It’s usually 50-70% of ATR. If no pending orders or stops have been triggered during the trading day, all market and pending orders are withdrawn. Besides, you should not open deals based only on the “Forex Insider” readings.Download indicator