Forex trading strategy #6 ("Key Simplicity")
Submitted by Edward Revy on February 28, 2007 - 15:49.
Yes, one look - one hit. A trader can decide on his/her trading plans by a simple 1 second glance at the chart. It is a very simple Forex trading system that is a pleasure to use for traders with a busy schedule.
Strategy requirements:
Time frame: 1 day
Indicators: 5 EMA, 12 EMA, RSI 21
Currency: ANY
Read entire post >>>
Hi Edward are you still using the Key Simplicity?
Hi,
I do use Moving averages in my trading, but my system is more complex than this one. I use a mix of strategies and rules from a number of trading systems.
(In this thread I've mentioned those systems: http://forums.forex-strategies-revealed.com/advanced-strategy-the-midnig...)
Kind regards,
Edward
Why have you changed your system is the Key Simplicity not working anymore?
Why did I change my strategy?
I have so many other interesting ideas, rules and methods that I simply can't settle with one simple strategy for the rest of my trading career.
I think you'll quickly develop the same feeling once you trade for a while.
Best regards,
Edward
With greetings from Russia. Thanks you Edi for an excellent site. Strategy is good, and the main thing is simple. korya.Tymen,Russia.
Hi Edward,
Could you elaborate more on the stop loss and take profit portion as I am not very sure about that.
Regards
Alan
Hi Alan,
SL = previous day daily range in pips, e.g. High - Low of the previous daily candle.
TP initial target = at least 1.5 times the SL distance.
Manual exit = when 5 and 12 EMA cross back or when RSI crosses 50.
Best regards,
Edward
very nice setup and explanation really like how it works very simple and profitable
Post new comment