The Grid trading strategy takes advantage of the price movements of more volatile currency pairs.
Place a BUY STOP order every 10 pips above the current price.
Place a SELL STOP order every 10 pips below the current price.
Set each trade’s take profit for 10 pips. There is no stop loss.
Repeat to fill in gaps that appear due to price movements.
For every 10 pips upwards, or downwards the currency pair moves, the profit is 10 pips. There is no need to predict whether it is a trending or ranging market, whether it is a bullish or bearish market. As long as the market moves, there is profit to be had.
Traders need large accounts to trade this method, as there is no stop loss. Trades are not closed until the take profit is hit. Be very careful if you choose this trading strategy.