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Forex trading strategy #3 (EUR/USD simple system)

As we move forward we discover a strategy that fits only chosen currency pairs.
Take a look at the next Forex trading system:

Currency pair: EUR/USD.
Time frame: 30 min.
Indicators: MACD (12, 26, 9), Parabolic SAR default settings (0.02, 0.2)

Entry rules: When Parabolic SAR gives buy signal and MACD lines crossed upwards – buy.

When Parabolic SAR gives sell signal and MACD lines crossed downwards – sell.
Exit rules: exit at the next MACD lines crossover or if the market starts trading sideways for some time.

FOREX TRADING SYSTEM



Happy Forex trading!


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Please what is the best time in G.M.T to trade the eur/usd.

The best time to trade EUR/USD pair is during London and New York sessions (8 am to 10 pm GMT).
The most active hours are 13 pm to 17 pm GMT, when two sessions overlap.

You may refer to Forex market hours for more details.

Regards,
Edward.

thanks edward,
i am unveiling the powers in these strategies you are posting on this site. Thanks a million. From my experience, i have found Parabolic SAR to be a very good indicator to trade this market. Despite its good, it has got some bad sides as well. Combining it with MACD which is a bit lagging indicator looks very good , but i really wanna know if this method could be used for GBPJPY and if possible what time `could be the best time `to trade this pair.
Thanks
Dennis

Hi Dennis,

It certainly can be used to trade GBP/JPY pairs.
I'd look at 4 hour, 1 hour or 5 min charts depending on your trading objectives.

Regards,
Edward

Hi Edward, awesome setups! And great feedback from you and others as well, Kudos!

Pertaining to this setup, what is the max number of candles the signals can be separated by?

Thanks,
Keith

Hi Keith,

I've never collected such statistics. I don't think it would have any value for future performance of this strategy.

Kind regards,
Edward

Hi Edward,

Great site you have. I have a question concerning this strategy. For a buy signal does the MACD crossover have to occur when below the zero line ? I have noticed that sometimes there are signals when the MACD fails to make it back down below zero and cross over again before going to the upside. These signals would appear to be weaker.
Regards

Paul

Hi Paul,

It is a good comment, thank you.
Your observation is correct. Such signals are weaker as a rule. Ideally we want to trade Long with MACD lines crossing while below zero and go Short when the cross appears above zero.

Regards,
Edward