Forex trading strategy #1 (Simple balanced system)

Do you make an instant entry or pending order?

Judge

im thinking of 30min tf for intra-day trader based on this your system. what do you think with a 100sma monitor

Bondfx.biz

Using this strategy on a 5min chart, could you scalp with it?

Maduke Okoro
Enugu, Nigeria

Hi Mike,

Adding to previous comments, we are looking to get the middle portion of the move - the safest and easiest portion. It would be very difficult to catch a whole move from the every top to the very bottom for any strategy, although looking back at charts and seeing some pips left or given back on exit makes us feel that we should do something...

Regards,
Edward

Hi Mike,

try adding Bollinger bands and exiting when price hits the outer band, or use the same principle with COG indicator
(http://forex-strategies-revealed.com/scalping/center-of-gravity)

You'll exit quicker, however, again, some pips will be left on the table.

Andy

Hi All,

I cannot decide to take profit before the 5 ema crosses 10 ema, or should one wait until the crossover? I notice a significant portion of profit is given back to the market waiting for the crossover exit signal.

All opinions welcome.

Mike

Loom at menu links above and click:
Insert, Indicators, Trend, Moving average. In window settings choose MA type - Exponential.

the other way is to hover over the top pictograms on your screen until you find one called "Navigator". Make sure it is on. The window will appear on your left side. You'll see there all indicators as well as "Moving average". Drug and drop this indicator on your charts.

hope this helps.

hi
my name is sami
i don't find EMA indicator in my platform fx sol meta trader
can you help me to find it
thank you

Hi,

Mathematically, slow and fast Stochastic are nearly the same (with a little alterations in K% value).
The difference is in sensitivity: Fast stochastic is more sensitive to price changes than Slow stochastic. With Fast stochastic you will get more signals and they'll arrive quicker, than with Slow Stochastic. But sometimes more signals doesn't equal quality.

Regards,
Edward

Hi Edward,

Does it matter whether you use Stochastic slow or Stochastic fast indicator?

That's correct, Robin, we wait for the current candle to close before we decide on a trade.
I'm glad you're successfully applying this strategy.

Regards,
Edward

HI Edward,
This strategy seems to work pretty good, but when we enter or exit do we have to wait for the current candle to close, so that the change in the trend is confirmed or we just enter or exit whenever we get all three signals in our favour.
I use EURO.USD 15 min.
Thnx
Robin

Hi Norma,

The rules of the strategy suggest to: "Exit when 5 EMA and 10 EMA cross in the opposite direction or if RSI crosses the 50 mark again."

If I understood you correctly, you just wanted to figure out how the stop loss order is placed in general. If so, lets take an example:
EUR/USD is now trading at 1.4687. We have chosen to use a 20 pip stop loss for every trade.
If we go Long at 1.4687, our stop loss order will be set at 1.4667.
If we go Short at 1.4687, our stop loss order will be set at 1.4707.
(excluding spreads for the simplicity of the example).

Regards,
Edward

Hi, my name is Norma

I am new to Forex Trading, too. How do you calculate your stop loss entry. I don't get it yet. If I was trading EUE/USD at 1.4687 going long where would I put my stop loss??? If I was going short where would I put my stop loss??? Help! This is the only thing that's stopping me from trading.

Hi Fraser,

There is a lot of tweaking a twisting one can do to make a system better. Honestly, I'm already beginning to lose a track of all the systems and suggestions I've published and commented.

20 SMA could help you to filter the direction in which to trade. Above 20 SMA would favor Buy orders, below - only Sell.

Regarding ADX, you've done it right and for the right purpose.

Best regards,
Edward