Forex trading strategy #3 (EUR/USD simple system)
Submitted by Edward Revy on February 28, 2007 - 15:13.
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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The simpler the strategy, the better it performs.
However, the term "simple" here should be clarified.
"Simple" means, first of all, easy to understand and follow and execute. But also, "simple" means made with high level of knowledge of the market behavior - this part comes with experience.
A simple trading strategy may consist of a considerable number of methods combined to fit changing market conditions, but each method will be simple and straight forward: a method of entry, exit, risk control, detecting trending and ranging markets and so on.
On your learning and practicing curve, you'll see that the more you learn the more features your strategy acquires.
If on early stages you begin documenting favorite trading methods and ideas, in the future it'll become of a great help in sculpting and re-shaping your master trading system.
Elliot + Fibonacci trading is a very powerful combination, but it is also not the easiest one, because there is a lot of guessing and price expectations involved in market analysis. However, if you be able to master it, this Elliot-Fibonacci friendship will produce the most outstanding results, by far the best known to me.
Regards,
Edward
Hi Edward,
The Macd+Parabolic SAR Strategy is excellent for eur/ usd and other currencies also. I also use 5-13-62 ema strategy to double confirm buy/ sell signals.
Thank you
Appreciate the feedback!
Happy trading!
Edward
Man, i think you better give another filter for this strategy; Please put EMA 16 (for Timeframe m30 use), you can now where's the position you should have chosen.
Kind Regards;
Manus168
how mach pips profits with this strategie???
This trading strategy has no fixed profit targets. Use exit rules to collect profits - it'll be a different value each time.
I don't have 2 lines of MACD, only one :(
Is it because of my metatrader or I do something wrong?
MACD indicator on MT4 has one line, which is enough to trade with.
If you prefer two line MACD, try this custom indicator: Good_Macd.mq4.
You'd need to add it to your platform. Use steps described here:
How to add indicators to MT4.
Thomas
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