Forex trading strategy #14 (ADX Power)
Submitted by User on June 10, 2009 - 12:46.
Hi everyone,
Just another simple to follow strategy for you guys, hope you find it useful.
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ADX POWER
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- Timeframe: I use it on 4 hours, feel free to use it on smaller timeframes as well
- Currency Pair: Any
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wow a nice site. how do i set my profit
Dear Edward,
What is the best indicator or a good indicator to use on Meta4 platform
Set profit at the nearest support/resistance, or at pivot. Alternatively, make it a fixed amount.
There are countless ways to set profits. Just read what other strategies have to say.
the best MT4 indicators? Might be these, for example: http://forex-indicators.net/mt4-indicators
Thomas
hey user.. i have used ur system nd must say its profitable in most cases but bro wht i wanted to ask is whenever i enter a trade nd whenever cross appears . market seems to go opposite of 30--40% of equity nd then returning baq to normal nd then in profit,
can v not make much clearer entry points so tht more pips can b gained?
How about this catch:
- when the cross appears you say that the market goes back 30-40% of the time - looks like a good opportunity to let it go a few candles down and may be use some Fibonacci retracements from the last top to measure the move, and then at some point enter a trade.
Hello,
What should I put in for the ADX Value, the online live chart I'm using gives me a default value of 14. Is that okay to use here?
Please let me know.
Best Regards,
DSV
Hi DSV,
that's correct. You need ADX 14 - the default parameter.
Kind regards,
Edward
in tne above mentioned stragety "EXIT LONG" and go long what does it mean?. i am new to forex not that i had to mention it. :) thanks for your reply.
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