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

Hi, kc

Metatrader 4 is a good platform. In fact, some traders prefer trading only with brokers that offer MT4 platform.

But, what I would recommend is to find a broker first. There are many factors involved besides just a trading platform (such as spreads, leverages and margin requirements, min max lot sizes etc etc).

Once you made your choice and selected a few brokers, test trading platforms they offer. If they suit you, demo trade with that broker for a while, if not - move on.

Regards,
Edward.

hi edward,

how about metatrader 4, or what do you recommend?

thanks,
kc

Hi,

I won't be able to guide you through setup steps on chosen trading platform. I simply can't know all of them. I'm very sorry...

Try asking your broker to help you out or at least request a manual that will describe basic steps of setting indicators on your charts.

Kind regards,
Edward

hi,

i'm a newbie to forex and would like to try this strategy out. i'm on demo and using fxcm's trading station. i don't know how to set this strategy up with fxcm's trading station. can anyone help?

thanks, kc

Yes we use Slow Stochastic.

Regards,
Edward.

Hi

Do we use slow stochastics for this system?

Cheers & Regards!

hi everybody,

ok , i use 30min chart and add up another indicator. i use cci 14. now we have 3 indicators : rsi, stoch and cci. i simply add cci 14 just to gain pips on correction, say at 20 - 30 pips and sometimes 50 pips. once it reaches 393 then i immediately short and -203 or nearby then i immediately long. it works on downtrend and uptrend.

use cci 14 only to gain pips on correction, quite dangerous to short during uptrend and vice versa.

thank you,
muhammad b salleh

Hi Jimmy,
Welcome and thank you for your kind words. You are, in fact, absolutely right about benefits of helping people. In our case, sharing knowledge becomes not only a great enjoyment, it is also an opportunity to return to, review and summarize our own trading experience. It puts deeper insight into the strategies we have, and with the help of our users we can also learn new things and together improve existing ideas. It is like a teacher and a student: by sharing knowledge with others a teacher achieves perfection in the field he teaches. He also constantly learns from his students.

RSI and Stoch are not necessary should be in OB/OS zone when we finally get a signaling candle. They, however, have to "register" in overbought/sold zone, e.g. make a fixed move inside zone at any point of time.

Regarding 25, 75 rule, I would say that 30, 70 could be considered as close enough and valid. But even then it would mean that I have modified strategy rules here...

Best regards,
Edward

Thanks to all for offering help and suggestions concerning strategies and ideas. I hope to be adding some ideas of my own soon. Why not share a good idea right? Offering help to strangers without expecting anything in return is ALWAYS a good thing and your kindness is ALWAYS repaid in another way!! Enough preaching. This appears to be a very good system but I am unclear on a couple of details. First, when a contradicting candle appears and closes at least half the length of the previous candle to signal a buy/sell order, should the RSI and Stoch both still be in the OB/OS area? In other words, when the trigger candle appears I've noticed that the RSI and/or Stoch have sometimes retreated from OB/OS. Does this invalidate the trade? Secondly, are 25 for OS and 75 for OB hard and fast rules in both RSI and Stoch or what would be considered close enough? I hope these questions make since and I would be VERY greatful for any help or suggestions! My sincere thanks to all Jimmylew

To learn about 123swing strategy in Forex please visit http://forex-strategies-revealed.com/trading-strategy-123swing

i will try this method,and will post my result soon, pls can you throw more light on the 1-2-3 swings

Hi all, i found this particularly systems even better when you use the parabolic sar in metatrader set to 0.1 and 0.01, if you se that graphic above from mr teodosi and ad a parabolic sar you ll see whats what im talking about, from every single time that you have a new dot you will see a drop, just go and check the last week, from nov 19 to nov 23, we did no have a big drops, but we did have 5 beautifully smalls swings in gbp/jpy of at least 150 pips each, so what i did is the following: i just open 2 lots every time a saw those changes in dots, first one with a 50 pips limit and second one a 100 pips limits, with stops just to the new dot, that just gave me 750 pips from that only strategy, nice week.

Of course like every swing strategy you will see a lot more of bad trades that good ones, but at the end of the week only one good swing and youll pay for the bad ones and still have a nice profit(that is when you take all the trades and let them go to the end)but what i do is to get my profits as soon as i have my targets.

The beautifully thing about those dots is that you almost never get a retracement immediately, then hitting your stop, so your chances are great, of course as i sayd in the my las post, take the emotions away, some times youll see like a retracement and youll beging preying and eating your nails and then just the drop continue, so, because the emotions some times you will get out just before time or some time just later, as i said if you have a strategy you will have to stick to the rules, doesnt matter if you get losses, the IMPORTANT thing is the final balance, and of course if choose a strategy is because you took the time to make a backtesting, then forward testing in demo and that gave you the green light about it successfully, then go with it and respect it.
So enjoy your life and help some others human beings.

Ok guys, thats all, God bless you Edward, Mr teodosi and all at this forum.

Hi all, first i will like to say 1000 THANKS to Edward, is really nice to see people sharing his experience and mentoring newbies and even experienced traders, no selling e books or charging ridiculous prices for teaching, but just giving his great ideas and strategys to all of us for free, that is a truly work of love and deserves all the respect from us, also mr Teodosi is doing the same thing with a terrific strategy, by the way i just have to say im having a better approach to this business since i found this forum, no just going around looking for the next holy grail, now i know that almost any system works, the problem is the trader, so, after you learn how to be a professional trader(taking the emotions away)using patience, a good money management(no rich in one week),accepting the losses(normal an any business "even warren buffet have losses") and sticking to the rules, then you ll be in the right path to get profits and be happy with your job.
This method from mr teodosi is giving me a great profit every week.
ps: when you get your profits, go some place with your family, enjoy the life loving your brothers and sisters, also buy fancy stuff(its nice when you payback yourself for your hard work) and finally dont forget about the people that live in this world and does not have the same opportunities as we do, there are thousands and even millions of people starving and crying all while i type this review.
Finally prey and say thanks to god for all we have.
God bless you guys.

GBP/JPY is a volatile pair and is traded actively almost all day long.
I'd suggest focusing on hours mostly from 4am to 11am EST and then additionally from 2pm to 7pm EST.

These are hours of highest volatility. Yet a valid signal to open a new position can occur at any time of the day.

Regards,
Edward.

Good afternoon and during what time it will be better to trade on this system?