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Forex trading strategy #2-a (28-100 MA trading)

Submitted by Egudu

Hi everyone, here is a simple but cool system, and like I do tell my students, fx is not hard, so don't make it one.

Indicators: 100Ema applied to close and 28 smooth moving average applied to close.
Time frame: 1hr and 4hr
Currency: Any, but i guess Eur/usd would be preferable.

Entry: the 100ema shows the trend. So if we were in a down trend as given by the 100ema and a candle closes above the 100ema, we enter a buy, you would stay in that buy until a candle closes below the 28 and re-entries are made using the 28 once price touches it or closes above it when it has first closed below it. The reverse is for a sell trade.

For 1hr, stop loss should be 50-60pips while take profit should be 70-120pips, for 4hr stop loss should be 100pips while take profit should be 100-500pips.

I hope this makes for you good pips,suggestions and questions are welcome

Egudu



http://forex-strategies-revealed.com/


I think it won't survive range bound conditions... What's your thoughts?

Wow, I cant believe you even posted this basic non effective trading strategy

it sure would

please describe color coding of line shown on your chart.

The blueline is the 28smooth moving average while the red is 100ema

egudu

Hello Egudu, I really like your systems, they are simple to understand and they work!
You could make your own website where to collect all your systems.

Egudu, this is not a trading system believe me

Whoa!different strokes for different folks,suggestions and comments are welcome.But i guess the most important thing here is to improve on it,if you think otherwise

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