Forex trading strategy #5 (5x5 Simple system)
Submitted by Edward Revy on February 28, 2007 - 15:46.
Just look what this trading strategy has to say. It's a simple yet quite promising Forex trading method. Trading strategies like this can only be discovered through a long and determined observation of the price behavior.
To start:
Currency: ANY
Time frame: 1 day
Indicators: 5 SMA, RSI 5
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Hi Milanthi,
It's ok, even if the first one is a losing one.
You can consider news, but as I always say, unless you really know well how the fundamentals affect the market, there is no reason to use news. News happen every hour, it doesn't mean you don't have to trade, otherwise you need to evaluate the importance of every event...
Every first Friday of the month there are NFP news - these are the ones to watch and avoid trading during the release, unless you consciously ready to.
Kind regards,
Edward
Hello Edward,
For this strategy if we have consecutive closed candle below 5SMA for some days, in that case can we make entries on all closing candles? or we should wait for candle to go above 5SMA and thn close back below it.
Regards
pip26
For your better view:
I have market a area, All candles are consecutive closing below 5SMA so can we make entry on every candle closing?
It is not recommended to make an entry on every closing there, because with every candle our risks to be caught in price reversal increase.
We look to enter only on the first candle that closes below the 5 SMA.
Regards,
Edward
Hello everyone,
What is the setting for choppy index indicator to be used in 1 hour?
Azim
Hi Azim,
From the screenshot, I saw period 50 on a daily EURUSD time frame for the Choppiness index indicator.
Kind regards,
Edward
Thanks again edward;)
Hello,
Which are the rules of exit
Thank you
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