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Forex trading strategy #42 (14 EMA + SAR)

Submitted by Egudu

Hi guys, I want to give yet another simple system, and I mean it's really simple, so here it is:

Indicators:
EMA 14 applied to high
EMA 14 applied to low
Parabolic SAR (step 0.02, 0.2)

Time frame: 1hr
Currency: any but I prefer EUR/USD

Entry: place a buy order when price closes above the 14 high and PSAR is also under the candle, while you place a sell order when price closes below the 14 low and PSAR is above the candle.

SL is 50-60pips while take profit is 60-100pips.

Re-entry could be made if prices are still under or above the channel of the 14 high and low and PSAR reverses then ligned up again in the direction of the channel.

I am really finding it hard to post charts, so i guess you could set up the charts using the information i have given, and if you don't get it, drop me your questions.

like I would always say, fx is the simpliest business on earth, and easy money, please don't make it hard, thanks.

Egudu

Hi
Can we use this on shorter time frames?
regards
Phil

A nice system it is and has a potential for huge profits.thank u egudu,is there any way we can filter the bad trades it generates? Thanks once again

thenx egudu

hi,

whats the stop loss and take profit in 4 hour time frame

works better when filtered with stochastic. if it's oversold, don't place a sell and vice versa.

thanks to everyone,as a filter add slope directional indicator,adjust the settings to 27.you can get this indicator if you just google it. egudu

Is it better to buy high or buy low? Think about it a minute.

Hi, I cannot say how much parts of this helped my system, just added the fine tuning element to a system I have traded for some time and has helped cut out some of the "bad trades", I day trade eur/usd on tick charts in HA mode with my own setting on stochastic, the MA14 element, just gave me the added edge, I have being trying to achieve for a while. Thanks again.

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