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Forex trading strategy #4-a (1-2-3, RSI + MACD)


Submitted by Lino

Hi Edward

I have spent a considerable time studying your strategies and i would like to share with everyone what i have taken and now apply to my trading.

Any currency pair can be traded

Indicators: 5,10,20 EMAs - RSI - MACD

Time frame: I use 15min charts (I find bigger time frames to slow and bigger stops)


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Edward,

Can we use 5 minutes time chart for this strategy? What do you think about the 123 setup being approximately 3 hours or even more away from each other for 5 minute usage of this strategy? Too far apart?

Thanks for your thoughts!

Alex Liu

Hi Alex, I think it is too far apart.
I wouldn't set any time restrictions.
Will it be effective on 5 min? We have to test, I don't know.
(I'm not volunteering for testing :), there is tons of work ahead that I haven't even touched).
Sorry about that.

Kind regards,
Edward

Memo to Edward and Everyone else on this site -

Buy , borrow or steal Dr. Alexander Elder ' s book : " Entries &

Exits"

Try his Impulse System which uses the MACD only .

You will not need

anything else.

It is especially good on Binary Options. ( see my July 18 th

comment on p. 9 ). On Binaries , use 15 min. time frame ONLY .

I first applied the IMPULSE to the 1-2-3 method , but it works

on any cycle " leg ".

Stewart

Has ANYONE out there followed up on my comments/suggestions

in my July 18 th , and August 10 remarks ???

COMBINING the 1-2-3 method with Dr . Elder's Impulse system

awesome .

Stewart

Actually, yes, Stewart

I've been following your recent suggestions and reviewed the impulse system by Elder.

I used a similar principle in the past, mainly for scalping purposes: I looked for changing slopes in MACD and tried to catch the momentum/impulse :)

I liked it for the simplicity and after your comment, went to find the indicator written based on MACD slopes described by Elder.

Here it is: Elder_Impulse_System.mq4

Elder Impulse system

With this indicator:

red bar means - go Short or choose to stay aside, but no buying
green bar means - go Long or stay aside, but don't sell
blue bar - market favors no one, it is an indecision, you can either buy or sell, but better identify the range and trade the breakout.

Best regards,
Edward

Warning----

Stay away from Binary Options , or ANY Options .

The terrible Bid/Ask Spreads and Expirations are great for Option Sellers , but a losing deal for Buyers .

However , 1-2-3 , and Dr. Elder's Impulse Method are doing just fine ! Also , Daryl Guppy 's Multiple Moving Averages are excellent , especially for Scalpers .

Stewart

I give up , everyone. I am tired of staring at the screen hour after hour .

I discovered Forextradersdaily.com and it is all about following news releases

and Bank flow .

Take a look , and send in some feedback .

George

Some people on the Oanda Forum say forextradersdaily is probably a scam , and that 99 % of Signal

sellers are fake .Trading on News Releases SOUNDS easy , but is very tricky.

Any comments , especially from people who have tried News Trading ??

Stewart