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
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Does your Stop loss rule, as posted on Jan 15th, apply to all time frames? So if you trade 1 hour chart you would use the previous candle's range? And in the event of a confirmed trend/profitable open trade what trailing stop rule would you apply?
thanks
This one is good. But if you are trading the daily or some high time frame like that. When you are wrong its gonna hurt. Unless you have a tight stop and if you do.. you will be whipsawed to death. so in my opionion.. the system works but keep a very wide stop in place. just my two cents.
best strategy by edward
thank you
with regards
shaan(india)
Hi Edward
what is the optimum entry?
eg if going long wait for the high of the candle to break? with Stop loss at previous day low?
thanks
D
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