FREE FOREX STRATEGIES

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!

------------------------------------------------------------------------------------------------

"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.
------------------------------------------------------------------------------------------------

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

Copyright © Forex Strategies Revealed

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


HI Edward,thanks for letting me try your strategy.I wonder if you would help me understand about the stop loss,when you decide on a trade and set your stop loss do you leave it and hope you don't get stopped out

Alan

thanks for the gr8 system.

sir have u developed any ea on this system?
or any signal system based on this strategy?

mamu rassala

The strategy was posted in 2007, while the site above was registered only in 2009.
Thus, it's them who stole it :)

looks like this was stolen from here -> http://strategy4forex.com/strategies-based-on-forex-indicators/forex-strategy-50-of-the-previous-candle.html

which i might add actually explains it a bit clearer and gives the settings for everything - unlike here

hi my names martin glover I too have been looking at the system above ,yes it does have potential but 300 pips a day using only GBP?JPY hmmmmmmm, but with some refinements could be a very profitable system, there are very few if ANY days when GBP/JPY yields 300 pips (if only) ,buthave a look at the 4hr & let it run for maybe 300 pips at a time?

Having looked back through some other pairs its more than do-able,also I'm assuming that when the entry signal goes past the half way mark(50%) its then Step 2 I would try & wait for the cross of the stochastics& even if the RSI has'nt reached the oversold/bought area as long as it has turned in the direction required it does seem to work.
SO to sumerise it has potential but with a few tweaks lets see ( maybe even look at the daily time frame( not everyones cup of tea I know)
I shall be giving it a try this week but with other pairs too just to see,
lastly hats off to the guy who's brave enough to put his system forward we're not here to criticise just learn,will get back later on with update from sunny Scotland (not) see you all soon
martin

hello all
last two weeks I saw this comment at over 50 page . why delete other comment .comment reading is enrich in forex knowledge. thanks for this site .

please provide details about the band used this chart , is bollinger band 20 ? or other band?

I've been playing with this strategy and I've only ever been able to get 1 perfect set-up (according to the system) per day, sometimes less. Every time it looks as if I have a legit entry point, one of the parameters (usually the candles) decides go the other away and I become hesitant to place to the trade. Any ideas on how to optimise this strategy for higher frequency trading?

Cheers,
Ivan.

Is it even possible now to earn even 1000 pips per week, cause I haven't seen even a 100 pip rise or fall recently (if lucky on or two will come in a week), I rather say maybe if you're lucky 1000 is max, but even then you have bend the rules a lot and hope the market goes on your favor. 500-700 is more realistic in my opinion.

Andres

Should I post a pending order if on Friday the last candle is (mean the last candle on Friday, market closes) opposite candle and all the indicators suggest me to buy/sell or should I wait and see what the Market will do on Monday

Lets say we have a bear candle(market is going down), does the next candle be a bull, that closes at the half, or it might as well be bear candle, that closes at the half.

Andres

Здравей Теодоси,
През платформата на кой брокер търгуваш? Интересувам се, защото тепърва навлизам в материята с демо акаунт и бих искал да намеря качествен партньор.
Поздрави, Стоян ([email protected])

Love the site and this strategy, thanks to owners and authors. I just wanted to know whether anyone is still trading this successfully? What a realistsic pip per day/week total is in the current climate for one pair (GBP/JPY or USD/JPY). Thanks

very brilliant strategy ..awesome sir..i just want to know can we use this on eurusd? edward

thank you
shahnawaz
(india)

Hi all,
I'm new here, started reading articles on this site 1-2 weeks ago, and would like to contribute to the discussions on strategies. I've just created an MT4 EA for this strategy, for backtesting, used only the rules described in the article, without any further suggested enhancements or modifications.
Want to let you have it for testing, how and where can I upload it? In the forum?
BTW, I like the MT5 and MQL5 language too, anyone else here interested in it? MT4 is still predominant everywhere, so I coded the EA for this strategy in MQL4 for others here to test it.
Best to all,
Oliver


Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image without spaces.