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Forex trading strategy #8 (Teodosi's simple system)

This Forex system was sent us by Teodosi.

We are proud to have such users willing to share their thoughts,
ideas and systems so that others can learn and trade Forex even more successfully!

Thank you, Teodosi! Your contribution is greatly appreciated!

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"Hello guys i`ve been using one very profitable system and i want to share
it with all of you. If anyone has any suggestion i`m open to hear something
new to add in it.

This is my system.

I use 1h chart on GBP/JPY with Stoch(5,3,3) and RSI(7). My idea is this ...
I use Stoch and RSI just to define where it is possible to have a breakout.
Then I use most profitable tool I`ve ever tried - I use candlesticks.
If I have strong up trend and my Stoch and RSI are overbought, and we have
down trend candle (black candle) close at the middle of the last
(in this case white one) I enter my trade.

With this system I make more than 1500 pip only from GBP/JPY for week. I just use it for GBP/JPY.

Rules are this:

Sell when RSI and Stoch are bought or they are close to overbought (75)
line, and we have down candle which has closed at least at the middle of the last up
candle.

Buy when we have oversold RSI and Stoch and we have up candle which has closed
at the middle of the last down one.
;) very very very simple and very profitable system

Forex trading system

Exit rules if we are in a sell trade and ... we have oversold RSI and Stoch
and we see this up candle which has closed at 50% of the last down one - exit and
enter another trade.

Like I said this very simple and very very profitable
system. O, and I put my stop lost at -100 pip.

I`ll be glad if you post it ... and want to see what folks will say about it ... :)"

Teodosi.
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Sure, we posted it!
Thank you and happy Forex trading!

Learn about another Simple system by Teodosi
at Teodosi's Moving Averages tunnel



Edward Revy
and my best Forex strategies Team
http://forex-strategies-revealed.com/


I thank you this is one great place to share my experience :)))and i want to help guys here with their trading :)

We've got an update - trading results sent by Teodosi:

"...and some of my results..."

Forex

i will try it

mr.teodosi.thank u for great system.i have question.can i use 30 min chart or less.

mr.teodosi. u mean to sell at overbought level and buy at oversold level.

hello it`s better to use only to 1h and 4h not less because you could get more false signals.No i don`t mean that i use stoch and RSI only to know where is price and look candles to know where exactly is goes.Cadlesstocks are fastest indicators known to us and we will use this!Every day i make more than 200 300 pip using this system to trade only GBP/JPY i`m sure that you all will have same success as i have with this system ...

but sometimes stoploss is difficult,ok?

Is this supposed to be a simple strategy or is it nor properly explained? English is not my first language, but I do understand most of it, and this is the first of your published strategies I dont understand. Is it possible to give alittle bit more detail on how you pick when to enter? which candles are you choosing? Thank you...

PS: a comma here and there does not hurt.