FREE FOREX STRATEGIES

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.


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Hi,

Your forex trading strategies is interesting. But you may add forex fibonacci retracements to help you.

You can see how I use my forex trading strategies on my website:

www.free-forex-day-trading-system.com

If you have any questions about my forex trading strategies, send me a message, please.

About the comments Paul and Edward , You are totally right about the weaker signals , and specially with Pairs other than EUR/USD , i have just been misleaded by MCAD signal above zero with USD/CHF pair , and totally lost 20 pips 30 minutes later. there was no change to get backup anytime soon . so my advice is to stick to the rules , because trials are expensive :(

For new guys should we just use this one system and time frame until we get a good profit/loss ratio for about a month?
Also is this system ok for after-hours trader guys who get back home around 5pm est?

Yes, that would be the right thing to do: take one system, learn every aspect of it and trade it for some time: a week is often enough for a scalping system, a month or two for hourly charts based system and slightly over 5 months for a daily system. That's of course approximate estimation.

For an after 5 pm EST trading it is difficult to suggest a good Forex system, since the trading volume decreases by that time inviting sideways price movements that are difficult to profit with. If you can't trade during active market hours, I'd suggest trying larger time frames, daily charts would be ideal.

Regards,
Edward

Hi Edward,
Do you take entry after parabolic sar gets fixed and macd crosses over in the same direction? Do you take entry on the next candle open or at the break of high or low?
Thanks
Neeta

Hi Neeta,

You've got it right. We are waiting for the SAR to get fixed. MACD should also cross and point in the same direction. We are then going to enter immediately on the open of a new candle.

Regards,
Edward

Edward,

I just found this site today....Love it! Great Info. I particularly like the #11 EUR/USD Simple Strategy, but from your experience is there a simple or complex strategy that you like better or would recommend previewing?

Thanks,
Prez

Hi Prez,

There are lots of great strategies in our collection. I'd definitely recommend looking at all Advanced strategies and also Simple ones.
See if you like next ones:
advanced #3, 4 and 5,
simple #11, 14, 16, 17.
Check also our new collection dedicated to MT4 custom indicators at: http://forex-strategies-revealed.com/mt4/custom-indicators-systems

Every system in our collection reveals an idea or unique method of analysing and trading currencies.
Try the following approach: choose one or two strategies you like most, test them, analyse what could be added to improve results, what are the weakest and strongest points of the strategy, and then as you discover new trading methods on this or any other website try to fit them in your base system. That's the best way of making a solid workable system out of available resources.

Regards,
Edward

Update (June 05, 2009): please note, the numbering for simple strategies no longer matches due to recent strategies maintenance.