Advanced system #7 (EUR/USD breakout system)
Submitted by User on November 3, 2007 - 14:43.
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Edward
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What is ur comment on this similar system
time frame 1 hour
ema(144) and ema(169) and sma(400)
System uses highest high and lowest low of candles from 1.00 GMT to 6.00 GMT
conditions needed to make trade:
1- Entry price must be away from Vegas tunnel and/or SMA(400) at least 35 points (rebound zones)
2- Orders are set after the close of candle 6.00 GMT
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hi,
I was wondering if anyone hs been using this system or similar recently? Looking at a quick backtest it appears to have performed quite well over the past few weeks. It would be good to hear if anyone has had any longer-term experience in trading this system.
Thanks,
Tristan.
Hi Dummy,
The range, as I saw, is 3 - 8 am GMT.
So, if your system's time is GMT + x then you should look at
3+x - 8+x system time. (In your case 5 - 10 am)
Hi Edward,
My system is using GMT+2 time zone. So should I look at 5-10 GMT+2? (equivalent to 3-8GMT).
Thanks,
Dummy
Hi Enrique,
When TP is not hit, a trade will be left overnight. In the morning check if the trend is still valid according to Vegas tunnel.
If everything is fine, calculate numbers for another entry order and then if you want, place a new order, while for the old one, make adjustments for TP and SL according to new numbers, and let the old order run one more day. If the targets are not hit, repeat the same procedure the following day.
Best regards,
Edward
Hi Edward. First of all, thank you for all your posts.
I would like to know what happen when the target (TP) is not reach during the day. Do you close your order at same hour or do you live run the order untill take tp or sl? If the answer is yes what happen with the next order (next day)? Do you place a order or not?
Regards
Enrique
It was an example with EUR/USD, but you can use any currency pair.
Best regards,
Edward
hello edward
I just want to ask why do you use this particular pair (EURUSD) for this system?
Hi Fahad,
This insane market demands a skillful speculator. It is a wrong perception that anyone can trade Forex. To manage serious capitals and earn good income you have to become a good financial analyst.
Practice and dedicated studying will make you one.
Best regards,
Edward
those MAs are used to get a Vegas tunnel.
If a trading software offers a Vegas tunnel, you don't need to make it anymore nicer with MAs :)
Thomas
Hellow! Why do we need SMA and EMA 169 ? so that wecan have a Vegas tunel ? :) to look nicer ? :)
Regards, MStar
Thanks Edward, thanks very much for your kind suggestion. I will review it & try to get results with the suggested strategy. any other suggestion to get most out of this insane market, I'll appreciate. You are a real Great Man making impossible things possible. thanks once again.
Warm Regards,
Fahad.
Hi Fahad,
your question is somewhat general though. To make 200 pips a day you'd need to trade multiple currency pairs, on average 4-5 pairs at the time. The highest yielding pair is GBPJPY which can move up to 300 pips a day. However with high volatility comes a higher risk.
Please have a look at the following strategy, which trades multiple currencies and uses well balanced targets and stops:
http://forex-strategies-revealed.com/simple/simple-trading-with-daily-ra...
Best regards,
Edward
Hi Edward, I want to Make 200 Pips Daily through Forex Trading. Can you help me which currency pairs should I trade to get this target? also tell what is your suggestion about the strategies to be applied on those currency pairs.
please help. also need advice of Professional Traders.
Reagrds,
Fahad. KSA
Thank you very much.
Are there anybody else using this system?
Regards
D.
3am to 8am GMT.
Regards,
Edward.
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