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, I mentioned that I traded on 1 min timeframe. When refer to 30 min timeframe chart, if the market is under consolidation/ranging condition, these strategy fail because the consolidation market on 30 min timeframe run up and down within about 10 pips ... entry and exit rules keeps on occurred , although both entry and exit is crosses at the near level , however every trade opened comes with spread of 1-3 pips loss.
Anyway to avoid consolidate/ranging market ?
Regards,
Glenn
The best ideas I've seen for range bound trading:
http://forex-strategies-revealed.com/range-bound-trading
Hello Edward,
I'm Osama from Libya. First, I would like to thank you for this up-normal simple strategy.
I already coded an EA for this system since 2008. I'm sorry for not posting the EA here for many reasons. The first one is that I need to test it on the long run and doing all the needed tweaks. I already made %1360 of profit within 5 days. I was lucky because the market was trending, but the system works very very very well because later I did around 3700 pips in a week. (see the attached image). The final EA passed to a lot of developments, but the main strategy is still the same. SMA100 was added as a filter. If the price is above this moving average, then we will wait for the Long entries only, and the opposite for the Short trades. The EA is not working as a fully robot trader. I should accept the entry point according to a simple criteria. I will post the whole story about how to use the EA in the FSR Forum within few days.
Once I post the story in the forum, I will give a notice here.
By the way, I already opened a thread at http://www.arabictrader.com/vb/t54838.html about this strategy. Sadlly, the used language there is the Arabic!. The thread has 44,051 views and 748 posts till this moment. I already mentioned the source of the strategy to keep your copy right of the strategy.
Thanks Edward again.
Osama Shaban
Hi,
As I promised, You will find the complete system description, EA's, templete, ... in the link
http://forums.forex-strategies-revealed.com/basic-balanced-system-expert...
Thanks Edward for your system.
O. Shaban
Hello
this is a situiation :
Sell GBPUSD at 1.5396 , now LOSE -277.49
Sell EURUSD at 1.2997 , now LOSE -117.64
Hedge the GBPUSD at 1.5896 now WIN 22.59
Hedge the EURUSD at 1.3183 now WIN 24.01
The Balance now is $381.75 , remaining $35.25 and stand , Left Margin is (-$14.75)
The question is : how could you SAVE as much as possiple , what has to do ?
Traders : Whould you ansewer this ?
Thank you .
Hello,
Just to say thank you (especially to Edward) for this website that helps us to find a strategy that fits with our personality.
All the best,
DS0167
Hello,
I just programmed this strategy in an EA to test it.
I tested it from January to July 2010 and it's continuously losing.
The problems encountered are 1) late exits 2) too many failed entries.
Does anyone really made money with it?
Thanks
Nathan
"
Hello
this is a situiation :
Sell GBPUSD at 1.5396 , now LOSE -249.99
Sell EURUSD at 1.2997 , now LOSE -83.64
Hedge the GBPUSD at 1.5896 now LOSE -11.41
Hedge the EURUSD at 1.3183 now LOSE -2.99
The Balance now is $381.75 , remaining $35.25 and stand , Left Margin is (-$14.75)
The question is : how could you SAVE as much as possiple , what has to do ?
Traders : Whould you ansewer this ?
Thank you .
"
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