Forex trading strategy #1 (Simple balanced system)
Submitted by Edward Revy on February 28, 2007 - 14:49.
Current Forex trading system represents a well thought and very simple combination of indicators. Knowing what signal to look for with each indicator, provides a strong tip for good entries and exits.
Time frame: Any.
Currency: Any.
Indicators: 5 EMA, 10 EMA, Stochastic (14, 3, 3), RSI (14, 70, 30)
Entry rules: Buy when 5 EMA crosses above 10 EMA and Stochastic lines are heading north (up) and Stochastic is not in overbought position (above 80.00 level) and RSI is above 50.
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hi everyone,
no doubt this is a good strategy.But it is very perplexy when the market is moving sideways or in consolidating phase.The sma curves meet frequently.
what to do during that phase?
Regards
Balaji
Good work
However, Buy or Sell works only if the larger frame is in favor
Good System
When you have a range - usually RSI and Stochastic will suggest that too.
On RSI, for example, try adding levels 55 and 45. When RSI is stuck in between those levels - that's when you don't want to react to EMA crossovers.
Also, it's better to come to trade during 8-11am EST, when the market is most active and is least prone to sideways movements.
Thomas
Hi,
i'm Elmi, excuse my english. this is only my strategy that i'm using it now on my life trading. so far so good. i only trade on strong trend. its work very well. my tp is only 10 to 15 pips no stop loss. i want to thanks Edward for this great site of yours. you are doing great favour for everyone like me. Thank you again Edward. Thank you very much.
Hello Edward.
I think this site is wonderful and u're empowering many especially me, its definitely the best.
I'm a beginner & i personally like 9 ema with entry and exit rules at 5 and 9 emas crossover, filtering with macd and / or adx depending on market behaviour on hourly chart fine-tuning on 15min charts. It has been giving me promising results but i tend to get major losses averaging approx 2 of 5 trades especially when i attempt to preempt indicators. Could u please help me test and advise me what u think?
Thanks, really appreciate and God bless
Osahon
Thank you Osahon,
I'm glad you've found the approach to it. Well, you've somewhere answered your question already: if you attempt to forecast before indicators give you a real signal, you'll be no longer following your own rules.
Other than that - keep trading it, write notes, may be try to find 1-2 best performing for you currency pairs and stick to it.
Happy trading!
Edward
Is this strategy still working after 3 years? What's a current % of positive trades?
This seems like a very promising strategy. I will give it a shot. Thanks for sharing. Dave from Belgium.
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