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

No problem

Great system!!!
No doubt about it....

Hello Mr. Teodosi, I'm Kushal. Thanks for posting the great system but don't mind I am little bit confused with understanding the candlestick, If we are in a strong up trend and our indicators are in oversold mood but the candlestick is in doji, or Tri Stars, or Gravestone Doji then what we can do with this. Please explain it. Thanks once again for posting it.

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

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.

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.

I have been trying this strategy and the claim of 1500 pips a week is possible but not entirely factible: to get those 1500 pips you have to stick your face to your screen during the whole session, and the whole week...not easily done...

Chelo

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.