Forex trading strategy #9 (Teodosi's Moving Averages tunnel)
Submitted by User on September 20, 2007 - 08:21.
This Forex system was submitted by Teodosi.
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"Hello guys i want to help all of you and i want to share you some good system.
Like many traders say good system is simple one an that`s why i`ll tell you one very simple.
This is......
- 1H (of 30MIN, but you will get more whipsaws) candlesticks/bar charts
- 18 EMA & 28 EMA (put them in red)
- 5 WMA (in blue) & 12 WMA (in yellow)
- RSI = 21
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I love this trading system! My goal is to average $500 per day, 4 days a week. I have spent a ton of money on different courses and systems, but nothing has worked half as well as this system.
I scan for set-ups at the top of the hour and enter on the next candle (H1) only if blue MA is above (or below depending on direction) Yellow MA and RSI is above or below 50, depending on direction. I set a 20 pip take pofit. I do not use a stop unless I have to leave my screen for any length of time. I trade from 1-3 pairs but never more. Quite often, all three pairs will hit T/P and I will be up $600. Then I stop trading for the session. Is anyone else making money from this system? Thank you Teodosi!
Rebecca
Hello Great Edward & Great Tediosi,
I really thank Mr. Tediosi for sharing his ssytem. May the good Lord bless you.
Mr. Edward, thank you very much as well. I sincerely hope i could discover a system
and share it just like you great people. But the least i could do is to program this
system into an indicator. Also, I have included a template with the indicator including
all the moving averages, rsi as well as fractals. I would be very happy if people could benefit
from this indicator and template.
Teodosi_4_movinq_averages_system.ex4 (4.06 KB)
Teodosi_4_movinq_averages_system.mq4 (5.12 KB)
Teodosi_4_moving_averages_template.zip (1.94 KB) - template
Please if anyone here also know any system that is powerful and programable, do not hessitate to
contact me on charlesadejumo(at)yahoo.com.
Sincerely yours,
panavacci.
Hi Panavacci-I could not download the mq4 system. Could you check it out and resubmit? Thanks for doing this, it will be very helpful. Rebecca
Thanks a lot, Panavacci
I highly appreciate your contribution.
I'll check the indicator next week and provide my feedback.
To Rebecca: all links to the files are fine. Please feel free to use our contact form if you still have a problem downloading them, and we'll send you the missing files.
Regards,
Edward
Tried it recently.
The indicator runs well. Easy to interpret. Could be definitely of some help to trades who use moving averages and just for trend identification purposes.
Thank you, Panavacci. Well done!
Regards,
Edward
this system works well on 1 hr charts when you trade the the trend of a lager time frame (4hr,daily)
Hi anyone,
what sort of money management can you recommend for this method of trading?
thanks.
Sam.
With moving averages it is impossible to figure out profit/loss chances upfront.
I see the way to manage it by placing 2 orders, where one will be closed in +7 or 10 pips (offsetting some risks) and another only when exit signal is given. Stop loss is set using Parabolic SAR and then trailed.
Andrew
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