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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Thank you, R!
Hi,Edward,
I am pralay from India.wow it's nice web site for begeners.Your EMA's strategies is good,but i don't understand 20 SMA? what is that?What TF is suitable for EUR/USD?How much % of lose in this strategies?.
Thank you.
Pralay Moitra
Dear,
sir,
i cann't place Stochastic lines according to your parameter.Actually we have two types of Stochastic lines ,one is Stochastic slow and other is Stochastic fast.Which Stochastic lines should i opted.I can placed EMA,RSI,but unable to place Stochastic lines .please help me.I use marketiva as forex broker.
pralay
Hi Pralay,
If I mentioned somewhere 20 SMA , then what I meant was: with 20 SMA you're trying to see the main trend. E.g. Price above 20 SMA - the trend is up, below - down.
You can use any time frame for EURUSD. Try first 1 hour TF.
The % will depend on the number of trades you take on a daily basis and the time you trade. Focus on trading during most active market hours - London + New York sessions.
Use Stochastic Slow (14, 3), it's the same as Full stochastic.
Kind regards,
Edward
Edward, i just want to say thank you for this site, you have helped a lot of people and i am one of them, i pray God continually blesses you, may yours be like a tree planted by the river continually bearing fruits Amen.
i like this post...
Good day everybody
This is quit a unique site. Please can you tell me how and where to find the 5 EMA, 10 EMA indicator?
The indicator is usually called "Moving Average", where in the settings you'll change it to Exponential (EMA) or other type.
Speaking of the very basics: indicators are found on trading platforms. Every Forex broker offers a trading platform, which you can install and use at no cost.
Regards,
Edward
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