Forex trading strategy #17 (Teodosi simple system)
Submitted by Edward Revy on September 20, 2007 - 04:59.
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 ...
Read entire post >>>
i will try this method,and will post my result soon, pls can you throw more light on the 1-2-3 swings
To learn about 123swing strategy in Forex please visit http://forex-strategies-revealed.com/trading-strategy-123swing
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
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
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
Do we use slow stochastics for this system?
Cheers & Regards!
Yes we use Slow Stochastic.
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
Post new comment