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

Hi Edward. Thanks for the great info. I have one question I would appreciate your feedback on. If you were in a trade that had been closed out in profit and the market retraced to your original entry position: If the signals were all still valid would you re-enter the trade?

Regards
Lloyd

Hi Jeroen,
Any time you know that the news will have a significant impact, it is advised to wait out. But you shouldn't be over-concerned with news overall. There are news coming every day, but only few times there are really bad times to be in a trade (an example if Non-Farm Payroll every first Friday of the month).
The rest of the time you should trade normally.

Best regards,
Edward

Hi everyone,

Does this system also work on news releases or do we have to wait for the big fluctuations getting dimmed?

Greetz,

Jeroen

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

Can some body help me when is the right time to enter and exit and also i am getting 0 line on MACD and also i am not getting the same picture which u have posted

I use FX PRO And my MACD graph is only showing one line and I can't figure out how to correct this in the settings.

Hi Iggy,

for a stop we should obviously use the last Parabolic SAR dot.

Best regards,
Edward

Hi,
What would be a good stop when trading this setup ?

Thx for this amazing site

kind regards
Iggy

great info. I know a lady in singapore has made more than 100k with investment of 2k on similar strategy. key is to play trades at right time.
i am thankful for this wonderful info. I shall try this strategy.
Regards,
milind, singapore

Sorry, but could you please clarify a bit.
Were you talking about MACD having 2 lines plus histogram - this is a standard look of MACD on OANDA's charts, or was it anything else?
Thank you.

Regards,
Edward

PLEASE I WANT TO KNOW WHATS THE OTHER LINE AT ABOVE CHART THAT WITH MACD INDICATOR

Hi Mathieu,

you were caught in a sideways channel, which will happen from time to time.
It is difficult to predict such sideways moves in advance. At the moment of entry, there were no signs of it at all.

Losing trades like this one will happen, but that's the part of trading routine here.

Should you placed a stop at the previous swing high or behind the SAR dot, you'd be exiting at approx. breakeven on the next MACD cross.

Best regards,
Edward

Hi Edward,

I have attached a screenshot, I though is a signal I gave a short but end up whipsaw. How do I prevent this?

Thanks.

Mathieu

Hi Kay,

Originally we use Parabolic SAR indicator to set and later trail the SL.
To use a fixed minimum distance in pips as an alternative, I would try stops of 25 pips and above.

Regards,
Edward

Thank you, Varun

Trading in New Zealand:
- during the day - AUD/x, NZD/x and x/JPY pairs.
- in the evening (starting somewhere around 9-10pm and till 1-2am) - GBP/x, USD/x and EUR/x based pairs.

Regards,
Edward