Advanced system #3 (Neat entry: RSI + Full Stochastic)
Submitted by Edward Revy on May 13, 2007 - 15:40.
Current strategy has won the hearts of many Forex traders. And why not when it has a great winning potential.
Strategy requirements/setup:
Time frame: daily
Currency pair: any
Trading setup: SMA 150,
RSI (3) with horizontal lines at 80 and 20,
Full Stochastic (6, 3, 3) with horizontal lines at 70 and 30.
Trading rules:
Entry for uptrend: when the price is above 150 SMA look for RSI to plunge below 20. Then look at Stochastic - once the Stochastic lines crossover occur and it is (must be) below 30 - enter Long with a new price bar.
Read entire post >>>
Edward,
First of all, I'd like to thank you and your team for the excellent job done on this web site. I tried this strategy on demo account and it worked very well. The most recent profit was on the daily chart of eur/usd.
My question is: do you also place orders based on "midnight setup" strategy while having unclosed orders from this strategy on the same pair?
Thanks again.
Aaron
Hi Aaron,
Only if I'm running positive on open orders.
Thank you.
Regards,
Edward
Hi, thank's for the marvelous work done here, you have a great learning system for all of us. I will test more of these systems, as I like several of them.
Just a suggestion, for a faster entry after the rsi confirmation, we may use Stochastic 5,3,3....
Wonderful work guys. Keep it up!!
KK
Hello Edward!!
Firstly I need to thank you for providing us with so much information. I read that you use a lot of systems and different setups to profit, could you share them with us. Maybe something like a new post which tells how what systems you use and how and when you use them. I believe it would help a lot of newbie traders like me. Thank you.
Mani
Hi Mani,
I'm giving you everything I have and will continue doing so. There is only one little thing I can't or rather don't have a permission to do - to post my strategy.
Here is the answer I gave earlier on March 15, 2008 at
http://forex-strategies-revealed.com/trendtrading-emas/
Thank you.
Regards,
Edward
Hahaha! Edward. Yep, gotta be really careful when wives are involved. Thanks a lot for all you have done for us. Asking some more wouldn't be right. And I shall try out the 3 and 5 strategies.
Thank you.
Great strategy!
What do you think about adding a ADX14 to the mix? If the ADX goes above 30, it should be yet another indicator of the trend strength. Do you think it's useful?
Cheers
Post new comment