FREE FOREX STRATEGIES

Complex trading system #7 (Mohammed Munzer Forex system)


Current Forex system was submitted by Mohammed Munzer - our valued contributor.

hello all
timeframe: daily
EMA(34)
SMA(150)
Double CCI (CCI=50 and CCI=14)
Full stochastics (5,3,3)

- When price is between EMA(34) and SMA(150) Do not trade

- Trade long when EMA(34) is over SMA(150) and a daily candle crosses
EMA(34) and closes over it by putting an entry order 10 pips above the
candle's high taking into consideration that stochastics lines are up and
not in the overbought zone

- trade short when EMA(34) is below SMA(150) and a daily candle crosses
EMA(34) and closes below it by putting entry order 10 pips below the
candle's low taking into consideration that stochastics lines are down and
not in oversold zone

- Exit depends on stochastics lines crosses
Stop loss= 75% Daily ATR

- You can repeat entrys after retracements towards EMA(34) or towards "NO
TRADE ZONE" depending on double CCI patterns trend continuation and trend
line break only if stochastics and entry conditions returns valid -closing
above EMA(34) for long or below it for short and with entry orders 10 pips
above for long and below for short.

Thank you once again!
Forex Strategies Team http://forex-strategies-revealed.com/

You can find another Forex system
by Mohammed Munzer at http://forex-strategies-revealed.com/munzer-forex-system

Edward Revy,
http://forex-strategies-revealed.com/

Copyright © Forex Strategies Revealed

also i would like to know what is the use of CCI 50

think with this system we get to trade once in 3 months on a currency pair

I have back-tested the strategy for Euro USD from 2006 till now which is 17.5.2011..

I have risked 1% per trade on an 10k account..here are the Results....

2006 + 56 USD

2007 - 60 USD

2008 + 489 USD

2009 - 117 USD

2010 + 240 USD

2011 + 440 so far

Please note that i might be wrong in back testing this strategy and maybe understood something wrong.. so please back test always for your self..
I think there are good points in this strategy that there are no big draw down ..i never lost more than 1% in a months .. but i think the problem with this strategy is first of all that we dont enter in oversold or overbought conditions which has no meaning often times the party just begins when its nailed there in the oversold - bought zone...the second problem is that the exit is to tight we need a better exit maybe the 9 EMA (from Edward) or maybe the RSI(21) 50 line .. or the cci middle line.. All in all it has a quite good entry point....but that's just my opinion and maybe i understood something wrong and made the back-test not in the right way...

If anybody is interested in back-testing strategy's in groups to help each other to get the job quicker done please contact me at [email protected]

Sincerely

Winny

can somebody tell me where i can get the doulbe cci thank you !!!!

very proitable system i have used it for 40 days ago and have more than 780 pips
ayman-jordan

"Trade Long" means Buying a currency pair.
"Trade Short" means Selling.

Regards,
Edward

Hello..
I am a new forex user, what does "trade long" mean, and what does "trade short" mean?
thank you

Very Nice Site! Thanx!

This looks like a promising system. Has anyone tested it yet, any results to share?

Hi Rahim,
we should not enter a trade if ATR is setting us for more then 60 pips S/L. Such a filter, would save you from many false signals.

Erni,

You said "My thought is that maybe trades should be entered with S/L not more then 60 pips (if ATR allows)."

What do you mean by if ATR allows. Can you explain it a bit?

Thanks,
Rahim

CCI - Commodity Chanel Index - you may study about it here: http://www.investopedia.com/articles/trading/05/041805.asp

Mohammed,

This system looks promising to me. I am in the process of testing. In my trading platform I do not see CCI. Can you explaine what CCI means? Can I set up CCI manually if my trading platform does does nto provide one? I am still learning different system.

Thanks,
Rahim

Hi Mohammed,
Thanks for your input. I am trying to apply this strategy to ALL pairs. If you go and try to find setups after 24:00 EST time (this is when new daily candle starts at least on my chart), you would see that you usually have couple of opportunities (or they will be there soon in day-or two). I do not think that you should be concerned with jumping in the trade when you miss it from beginning. That would be chasing. There are plenty of opportunities out there to go in at the right time. I also do not play re-enter again. Like I said, there are plenty of opportunities that re-entry is not really necessary. (At least what I saw by now).
Filtering with 10-15 pips does not look so bad. The problem is if you increase this filter you would be getting in the trade very late. and we do not want that.
I think that biggest area for improvement is S/L limits. On some of the pairs like gbp/nzd, daily ranges are huge, and basing your trade on only 75% of ATR is going to kill you. Sometimes you would end up with 100 pips s/l, but is still not far enough to survive volatility.
My thought is that maybe trades should be entered with S/L not more then 60 pips (if ATR allows). That way we would be able to protect our capital. Maybe that should be part of the entry rule.

What do you guys think?

Erni

Hi Erni again
Thanks for ur comments and for ur gesture for the miscompatibility done by me
( Discrepancy is the meeting of 2 evidences which contradict )
The true is 75% daily ATR and stochastics settings 5,3,3
And such mistake is done by me when posting here in a swift way when I received a message from MR Edward for such purpose
I worked on this system in Demo only before stopping for the rarity of available free time
And now I am only making entry orders be4 going work depending on BreakOut strategy on 4 hours chart...
For my improvement needs I concern about
1- Filtering ( 10 pips maybe not the best )
2- Riding the trade when I missing it from beginning
3- Riding it also after missing its re-dash (re- rush) when retraces from 34 ema
I know that this is a daily chart strategy and I must not miss any riding as it needs only one look per day, But I am searching for improvement which takes into consideration every idea belongs or have the tendency and ability to belong

Sorry for my English, it may be not so explicit , sometimes.

Thanks again Mr Erni...
Good luck..
Mohammed Munzer


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