Hello fellow traders. This is an amazing and an outstading forum. I have been trading actively for approximately 1Â 1/2 decades. I have learned much from this forum and very thankful for all the great indiors that I also have downloaded from here and I wanted to give something back. I believe in giving and sharing and passing it forwards. I think that I have a great easy system and there is always room for improvement so I thought I would post it and perhaps get some comments on it. I call this system (the pimpster grail) Anyway this system is so straightforward and easy any novice can do it successfully.
As all of us know, the market moves in 3 directions (up, down, and sideways). Some traders prefer to proceed with the trend, some commerce ranging markets, along with others counter commerce (most riskier). I am the counter trader. It's not an easy way to exchange but IMO it's the best way to exchange. If you can learn this, I think that you ought to have hardly any bad trades and I will explain how. Granted you won't receive as many trades as you would like, but if you do get a transaction it's pretty much as I prefer to say (MITB), cash in the bank. I traded this egy reside on smaller time frame risking a very large proportion of my capital (I won't say how much, just very high), and I doubled my capital in 3 months (mind you I stated this was reside trading and not demo). I have now toned it down a little and I am risking.
The secret to this trading system is to have patience and wait for a trading opportunity. Allow the indiors do the work for you and wait for you awake and signs for a trading opportunity. DISCIPLINE is the trick to trading and staying focused. This program works if you strictly adhere to the principles, and if anyone has any ideas to improve this system by all means. This is why I wish to discuss it with you. There is more than enough to share in the FOREX wealth world so why not share. The more thoughts, the more ideas, the better.
Below in the attachment is my commerce for today for 50 pips on the eur/jpy pair (that one was way to easy). This one was a great setup and basically I knew it was MITB. I would have went for more but I don't like to stay in trades past a certain time. I expect your comments, tips and improvements to this system.
Let's please keep this forum and discussion tidy from any negativity. We're here for each other and improve our trading skills and of course make cash.
OK so let's get it down and start making some pips.
Timeframes exchanged (H4 D1)
INDICATORS USED RSI, MACD, STARC BAND
I USE AN RSI INDICATOR THAT WILL ALERT VIA TEXT OR EMAIL WHEN THE OVERBOUGHT AND OVERSOLD LEVELS ARE BREACHED. IT IS ATTACHED.
H4 RSI ENTRY RULES (40 - 50 PIPS TP)
MACD (12-26-9), STARC BAND (5-15-1.33), RSI (PERIOD 8, Overbought 85, Oversold 15)
OPEN BAR ON H4 TF SHOULD HAVE PENETRATED OR IS TOUCHING THE STARC BAND INDICATOR UPPER BAND OR BELOW BAND (THESE WILL ACT AS S/R).
ONCE SIGNAL IS RECEIVED AND CONFIRMED, Await THE NEW BAR TO BE FORMED ON THE H4 TF. SWITCH OVER TO THE H1 TF AND OBSERVE THE CURRENT BAR. IF THE CURRENT BAR HAS NOT CHANGED TO THE COLOR OF THE DIRECTION THAT YOU ARE TRADING YOU MUST WAIT FOR THE NEW BAR AND IT NEEDS TO BE EITHER RED FOR SHORT OR GREEN FOR LONG.
THE MACD (DEFAULT SETTING, 12-26-9) CURRENT BAR ON THE H1 TF MUST BE THE COLOR OF THE DIRECTION THAT YOU ARE GOING, RED FOR SHORT OR GREEN FOR LONG. ONCE THESE CONDITIONS ARE MET ENTER TRADE WITH MARKET ORDER AND PLACE YOUR SL ABOVE OR BELOW THE PREVIOUS HIGH OR LOW ON THE H4 TF. TAKE PROFIT OF 25 -- 30 PIPS.
D1 RSI ENTRY RULES (70 - 100 PIPS TP)
MACD (12-26-9), STARC BAND (5-15-1.33), RSI (PERIOD 8, Over 85, Under 15)
OPEN BAR ON D1 TF SHOULD HAVE PENETRATED OR IS TOUCHING THE STARC BAND INDICATOR UPPER BAND OR BELOW BAND (THESE WILL ACT AS S/R).
ONCE SIGNAL IS RECEIVED AND CONFIRMED ON THE D1 TF, SWITCH OVER TO THE H4 TF AND OBSERVE THE CURRENT BAR. IF THE CURRENT BAR HAS NOT CHANGED TO THE COLOR OF THE DIRECTION THAT YOU ARE TRADING YOU MUST WAIT FOR THE NEW BAR AND IT NEEDS TO BE EITHER RED FOR SHORT OR GREEN FOR LONG.
THE MACD (DEFAULT SETTING, 12-26-9) CURRENT BAR ON THE H4 TF MUST BE THE COLOR OF THE DIRECTION THAT YOU ARE GOING, RED FOR SHORT OR GREEN FOR LONG. ONCE THESE CONDITIONS ARE MET ENTER TRADE WITH MARKET ORDER AND PLACE YOUR SL ABOVE OR BELOW THE PREVIOUS HIGH OR LOW ON THE D1 TF. TAKE PROFIT OF 50 --75 PIPS.
https://www.forexsoutheast.asia/atta...1994608144.mq4
https://www.forexsoutheast.asia/atta...1311734560.mq4