morrynet
Joined
May 17, 2014
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Pieredze
Vairāk par 5 gadi
Atrašanās vieta
Kenya
Bio
I have been trading Forex for some time now. I want to share a system that has proved profitable over time. this system has some high draw downs at times mainly due to positional trading. I don't hate draw down as long its calculated in such a way that it does not ruin my account. Mine is a long term project that aims at at least 1000 pips a day And double digit monthly growth. This is a highly hedged account traded mostly by observing the 1hr and 15min charts.
Tirdzniecības Stils
Trend Identification (Positional Trading Component):
Indicators:
200-period EMA for overall trend direction.
50-period EMA for medium-term trend shifts.
Strategy:
Determine if the market is trending or consolidating.
If the price is above the 200 EMA, prioritize Buy setups; if below, prioritize Sell setups.
Swing and Day Trading Setup:
Indicators:
Bollinger Bands (20, 2) for volatility analysis.
RSI (14) for identifying overbought/oversold conditions.
MACD (12, 26, 9) for momentum confirmation.
Strategy:
Swing Entries: Look for entries when the price touches the outer Bollinger Bands and RSI shows extreme levels (above 70 or below 30).
Day Trading Confirmation: Use the MACD to confirm momentum direction. For example:
Buy Signal: Price touches lower Bollinger Band, RSI < 30, and MACD line crosses above the signal line.
Sell Signal: Price touches upper Bollinger Band, RSI > 70, and MACD line crosses below the signal line.
Scalping During Consolidation:
Indicators:
Stochastic Oscillator (10, 3, 3) for identifying short-term reversals.
RSI (10) for momentum strength.
Strategy:
When the 50 EMA is flat (indicating no strong trend), switch to a scalping mode.
Buy Signal: Stochastic < 20, RSI < 30, and a small bullish reversal candle.
Sell Signal: Stochastic > 80, RSI > 70, and a small bearish reversal candle.
Execution:
Use a very tight stop loss (5-10 pips) and quick take profits (5-15 pips).
Trade Management and Optimization:
Position Sizing: Adjust based on the trading style:
Positional trades: Use smaller lot sizes with wider stops.
Swing trades: Moderate lot sizes and moderate stops.
Day trading: Slightly larger lots with tighter stops.
Scalping: Use the smallest lot size to minimize risk, as frequency is higher.
Stop Loss and Take Profit:
Positional: 200-300 pips TP and 100-150 pips SL.
Swing: 50-100 pips TP and 30-50 pips SL.
Day Trading: 20-50 pips TP and 15-25 pips SL.
Scalping: 5-15 pips TP and 5-10 pips SL.
Multi-Timeframe Analysis:
Weekly Chart: Determine the primary trend (for positional trades).
Daily and 4H Charts: Look for swing trade setups and confirm medium-term direction.
1H and 15M Charts: Ideal for day trading entries based on momentum shifts.
5M and 1M Charts: Use for scalping quick reversals and small market inefficiencies.
Indicators:
200-period EMA for overall trend direction.
50-period EMA for medium-term trend shifts.
Strategy:
Determine if the market is trending or consolidating.
If the price is above the 200 EMA, prioritize Buy setups; if below, prioritize Sell setups.
Swing and Day Trading Setup:
Indicators:
Bollinger Bands (20, 2) for volatility analysis.
RSI (14) for identifying overbought/oversold conditions.
MACD (12, 26, 9) for momentum confirmation.
Strategy:
Swing Entries: Look for entries when the price touches the outer Bollinger Bands and RSI shows extreme levels (above 70 or below 30).
Day Trading Confirmation: Use the MACD to confirm momentum direction. For example:
Buy Signal: Price touches lower Bollinger Band, RSI < 30, and MACD line crosses above the signal line.
Sell Signal: Price touches upper Bollinger Band, RSI > 70, and MACD line crosses below the signal line.
Scalping During Consolidation:
Indicators:
Stochastic Oscillator (10, 3, 3) for identifying short-term reversals.
RSI (10) for momentum strength.
Strategy:
When the 50 EMA is flat (indicating no strong trend), switch to a scalping mode.
Buy Signal: Stochastic < 20, RSI < 30, and a small bullish reversal candle.
Sell Signal: Stochastic > 80, RSI > 70, and a small bearish reversal candle.
Execution:
Use a very tight stop loss (5-10 pips) and quick take profits (5-15 pips).
Trade Management and Optimization:
Position Sizing: Adjust based on the trading style:
Positional trades: Use smaller lot sizes with wider stops.
Swing trades: Moderate lot sizes and moderate stops.
Day trading: Slightly larger lots with tighter stops.
Scalping: Use the smallest lot size to minimize risk, as frequency is higher.
Stop Loss and Take Profit:
Positional: 200-300 pips TP and 100-150 pips SL.
Swing: 50-100 pips TP and 30-50 pips SL.
Day Trading: 20-50 pips TP and 15-25 pips SL.
Scalping: 5-15 pips TP and 5-10 pips SL.
Multi-Timeframe Analysis:
Weekly Chart: Determine the primary trend (for positional trades).
Daily and 4H Charts: Look for swing trade setups and confirm medium-term direction.
1H and 15M Charts: Ideal for day trading entries based on momentum shifts.
5M and 1M Charts: Use for scalping quick reversals and small market inefficiencies.
Moto
Look back thank God, look forward trust God and look around and serve God. http://www.myfxbook.com/members/morrynet/shooting-star/922917/0FrETJXfr2Rwhv8KwAvD
