FREE FOREX STRATEGIES

#4 Patrick's trading system


Submitted by: Patrick Bourgeois
Thank you, Patrick, your contribution is greatly appreciated!

-----------------------------------------------------------------------------------

I would like to give you my system because i find it a very strong system if you listen to the signals. I have to say it is a combination of a few systems on your website that i have customised to one. Maybe if you like it after a review you can post it on your site.

I use the following indicators.
ema 3 close
ema 5 open

ema 34 en 89 on the close, just using them for direction, possible support and resistance.
RSI 3, 80, 20
stoch 5,3,3
adx 14

I have sound signals on the cross of ema 3 and 5 and the cross +di and -di of adx.
I use metatrader and will sent a screenshot of it including my metatrade indicators.
Click to see full size image.

Forex trading system

Forex trading system

The most important are the trading hours for using stochastic. Stoch don't react the same on Sydney or Tokyo session.
I only use the London and NY session. I combine that with your simple strategy 16, the breakout after 7 or 8h (London)

The most important is the cross of ema 3 and 5. When you get the signal go to 1h chart and watch for the breakout on that chart.
If there is one you buy or sell following the trend at the moment.

Stoploss is the high of the candle on the 4h chart where the signal is.
Stoch is just there to confirm you are not on the end of your trade. The entry point is not stoch nor RSI it is the cross of ema 3 and 5. Mostly RSI and Stoch are already crossed.

I use the 4h chart to start because on the 1h there are sometimes to many false signals. If there is a small signal on the 4h chart you can still make a few pips on the one h. If you get the false signal on the one hour you lose the trade. If you use this system for a while you can make big trades.

Let me know what you think of it.
Friendly greetings

Patrick Bourgeois

Attachments:

adx[1].lucki.mq4
AutoPivotIndicator_ver5.mq4
EMA_Crossover_Signal.mq4


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

Copyright © Forex Strategies Revealed

helo pat, your attachment is not download. please to adjust it.
thanks
adejumo

Hi,

I think Patrick is using the 4hr chart to identify the stop loss on the signal candle. So if using the 1hr-daily combination, would the SL be at the signal candle of daily chart? Or simply on the last swing on the 1hr chart? Where do you take profit? When you reach the same amount of risk?

For the other indicators, I supposed they are checked on the lower timeframe, but are they checked on the higher timeframe as well, or just the cross of the EMA's?

Many thanks for this site.
Paul

There is always a room for improvement :)
Thank you, Indrek, I'll certainly keep your email in my books.

Regards,
Edward

Hello Edward,
And thanks for your kind words! You have done tremendous job by creating and developing this site. It is really perfect and I think, you are a real guru already :)
If you or anybody else wants to contact me in a faster way then it is possible via e-mail address [email protected].
Regards,
Indrek

Hi Indrek,

Great comments and recommendations throughout the site! I totally support you on the time frame choice: H1 goes with D1 and 30M or I'd say even 15M with H4.

Regards,
Edward

I now test the system in a vice versa way - after getting the signal on the lower chart, go and check the trend at above time frame. First results are impressive!
BUT: I suggest H1 and daily not H1 and H4. I have noticed that neighbour time frames do not work together, so H1 works well with daily and M30 with H4.
Indrek

Hello Patrick,
Is it effective to start at higher(H4) chart and then go down to H1? Wouldn't it be more logical to turn this around: when you receive alert from H1 chart, then you check if there is an arrow to same direction at H4 or even daily chart and then enter the trade?
I have not tested your system yet but it seems logical that any signals appear first at lower time frame. So, when we start at higher time frame then most probably we have to wait for a very long time for another arrow at lower chart. And most probably there will be an arrow to opposite direction after all.
Regards,
Indrek

You should paste all indicators into the Metatrader forder called "Indicators", which is located in the folder called "Experts".
Then you need to restart the platform.
Your new indicators will appear in the Custom indicators menu.

Hello, Patrick. I am very interested in your EMA Crossover Signal, will you please show me how to try it, click and drag what to what directory ? (I am sorry I don't know much how to do that)

Patrick has presented another system, which you can find here:

http://forex-strategies-revealed.com/scalping/psychological-levels-tradi...

I just have beter stuff to work with

Patrick seem to have left it for us to carry on :)

Hey Patrick,

Are you still reading this thread because ik heb een vraagje?

Ik heb nog veel betere dingen ondertussen. Laat het weten als je interesse hebt. Dan kan je mij persoonlijk mailen. Slaagpercentage is heeeel hoog!

Hey Patrick,

Thank you for sharing your system. I'm going to test it for myself to see if it will fit my particular circumstances. Like most traders I have a dayjob that doesn't allow me to stare at charts all day.

If I have any questions, I hope you would be willing to help me.
Bij voorkeur in het Nederlands... :-)

Jay


Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image without spaces.