EGUDU STRATEGY

This Forex strategy was submitted by Egudu.

ok guys, here the strategy:

any currency
1hr,
7EMA(blue)
21EMA(red)
ADX(14)
MACD(12,26,9)

enter long once the 7EMA crosses 21EMA up and the ADX has passed it's 25 or 20mark and the MACD is trending up.the other way round is for short position. Note only enter a position once the ADX has passed it's 25mark.

Exit: exit any position once the 7EMA crosses the 21EMA. Also, the MACD should be looked at before entering a trade, when it's consolidating, you should stay away from the trade.

l am egudu.

Egudu,
Thank you from all our users and web team! Your contribution is greatly appreciated!

(RSI High-Low)

Currency pair: Any.
Time frame: Any.
Indicator: RSI (14, 70, 30)

Entry rules: Buy when RSI has crossed below 30, formed a bottom, and then crossed back up through 30.
Entry rules: Sell when RSI has crossed above 70, formed a peak, and then crossed back down through 70.

Exit rules: not set.

Advantages: RSI is a very good indicator to refer for confirmation for any entry in any simple or complex trading system. For current trading method it advices well on entries, but opportunities occur not that often.

Disadvantages: monitoring is needed, still false signals take place. Strategy is suggested to be used in combination with other ones.

Look at the picture

I suggest you to use this indicator with other indicator to stronger your decision.

Good Luck ^^

(Slow Moving Averages Crossover)

In this session I will explain my strategy:

We can use time frame and currency which respond the best (1 hour, 1 day… or any other) that you like to use.
Indicators: (multiple of 7) 7 SMA, 14 SMA, 21 SMA.

Entry rules: When you see 7 SMA goes through 14 and continues through 21, BUY/SELL in the direction of 7 SMA once price gets through 21 SMA.

Exit rules: exit when 7 SMA goes back and touches 21 SMA

Advantages: again it is an easy to set up and does not require any calculations or other studies. It can produce very good results when strong market moves, this system also can be easily programmed and traded automatically.

Disadvantages: System requires periodical monitoring according to a chosen time frame. SMA indicator signal can be confirmed after the current price bar has been fully formed and closed. In other words, when SMA stops changing and the signal is fixed, traders may rely on such information to open a trade.

But I will say only. Just enjoy it.

If you have a new strategy, please share it with us here, because by it you can help thousands improve their trading!

Part Time Wealth Building Trading System - Weekly Scalping (1)

OK. I have decided to start a new thread and preview a weekly system that I use which has proven to be more profitable than the trending system. There are many similar systems at this website but I strive for simplicity. The system is again very simple.

Create a weekly chart. Place trades 50 PIPS above or below the close for the previous week. Use a fixed 30 PIP stop. No profit targets. Let the trade run for the entire week and close during the final 30 minutes of the market for the week. The great feature of this system is that more often than not the weekly trend will establish itself and stay in tact from the Monday or Tuesday of the trading session for that week.

GBP/USD Example:

Previous weekly close: 1.9597

Buy: 1.9647

Sell: 1.9547

The following rule is a bit different than most trading systems of this style:

If the "Buy" is executed, move the sell up to the previous weeks close (1.9597 in this case)

If the "Sell" is executed, move the buy down to the previous weeks close (in this case likewise 1.9597)

These two rules permit a more robust and agressive entry after losing trades.

Recommend volatile markets (USD/CHF, GPB/USD, etc.)

Here is the current trade that I am in using the GPB/USD:

Short 1.9597 after a 30 PIP loss on the "Buy" trade.

Use fixed 30 PIP stops.

This system averages approximately 150 pips per week in the GBP/USD market without any intervention. I am a big believer that most people over trade the market. This system will minimize your trades by its very nature.

95 PIPS STRATEGY

Hi all and welcome to the 95PIPS strategy.

Before we start I urge you to paper trade any new strategy including this one before committing any of your own funds.

Also bear in mind that this system is by no means new and may look familiar to some of you. I am simply passing it on from my predecessors/mentors in the hope that it adds to your existing trading arsenal and increases your trading results.

The basis of this system is VERY simple and has proven to be profitable, though I am adjusting the money management/profit targets. So results for this revised version will be realised on this thread. I must also emphasise the well known phrase that "past performance is no guarantee of future returns".

That being said, let us proceed with the strategy.

OVERVIEW:

This is a pure "set and forget" system where trades are placed at the same time everyday. The option is also there for those inclined to monitor their positions to adjust stop levels as profit targets are reached. Please note that there is currently an Expert Advisor being developed that automates the trading of this strategy, thus keeping to the set and forget objective. Please click on the paperclip at the top right hand side of the screen to find the current versions. For those new to using Expert Advisors you will need a broker that uses an MT4 platform such as North Finance, IBFX, ODL, FXDD to name a few. For instruction on installing EA's go to: http://www.halcyonfx.com/howtoinstall.htm

By setting multiple profit targets we are exercising money management, while aiming for 95pips profit from a 50pip move in price.

We will simply be placing orders 5pips above the previous days HIGH and 5pips below the previous days LOW.(Actually, it's more like the previous 17hrs at 5pm EST.)

Use a 30pip stop loss for all orders.

Orders are placed on Monday, Tuesday, Wednesday, Thursday and Friday.

EXECUTION:

1.) At 5pm EST open the 1hr chart (2hrs b4 start of the Asian session) of USDJPY. ( In an attempt to pre-empt questions about how this strategy works on other pairs, I will post results comparing GBPUSD, GBPJPY, EURJPY, and EURUSD. You're welcome to add to the list.)

For those whose brokers spreads are still wide at 5pm EST on Sunday (which is 7am my time on a Monday here in Brisbane), in order to avoid the wide spreads you may need to wait until they reduce to normal before placing the orders for the day. I typically have to wait until around 8pm EST for Oanda's spreads to reduce back to normal.

2.) Use the high and low of the previous 17hrs. For Mondays orders go back as far as 00:00 EST on Friday for high and low.

3.) Open a total of 6 PENDING orders (for each pair) including 3 BUY STOPS and 3 SELL STOPS that expire within 24hrs (I use 18hrs) as follows:

Buy/Long Orders:

i. #1 - Entry = HIGH+5pips, Take Profit=15pips, S/L=30pips

ii. #2 - Entry = HIGH+5pips, Take Profit=30pips, S/L=30pips

iii. #3 - Entry = HIGH+5pips, Take Profit=50pips, S/L=30pips

Sell/Short Orders:

i. #1 - Entry = LOW-5pips, Take Profit=15pips, S/L=30pips

ii. #2 - Entry = LOW-5pips, Take Profit=30pips, S/L=30pips

iii. #3 - Entry = LOW-5pips, Take Profit=50pips, S/L=30pips

That's it.

Once you have placed your orders you are free to go and do something else with your day as this strategy does not require you to be monitoring the trades. Though, as already mentioned, to maximise results you may choose to adjust stop levels when profit targets are reached which by the way is automatically done by the EA.

There can be 4 possible outcomes after either the long or short trades are triggered:

1.) All 3 profit targets are reached for a total of +95pips.

2.) The first 2 profit targets are reached (+45pips) and the remaining lot is stopped out (-30pips) leaving a total of +15pips.

3.) The first profit target is reached (+15pips) and the two remaining lots are stopped out for a total of -45pips.

4.) All 3 lots are stopped out for a total of -90pips.

Additional to this is the variable outcomes of when both the long and short trades are triggered.

Also note that for those so inclined to monitor the trades, stop levels may be adjusted on remaining lot/s to protect already achieved profits. Trailing stops may also be used at your discretion. These features are included in the EA.

Please note that as a general rule of thumb you should not risk any more than 3% of your trading account on any one trade.

Therefore, with the DAILY95PIPS strategy the order size will need to be divided between the long and short orders. The total potential loss on the long orders (90pips) will therefore add up to 3% of your trading account.

Alternatively, you could risk 3% of your trading capital on EACH order, totalling 9% of your trading capital being risked for the long trades. The same applies to the short orders.

Happy trading everyone !

Strategy #1 (Fast moving averages crossover)

Trading systems based on fast moving averages are very easy to follow. Let's take a look at this simple system.

Here the term:

Currency pairs: ANY
Time frame chart: 1 hour or 15 minute chart.
Indicators: 10 EMA, 25 EMA, 50 EMA.

Entry rules: When 10 EMA goes through 25 EMA and continues through 50 EMA, BUY/SELL in the direction of 10 EMA once it clearly makes it through 50 EMA. (Just wait for the current price bar to close on the opposite site of 50 EMA. This waiting helps to avoid false signals).

Exit rules: option1: exit when 10 EMA crosses 25 EMA again.
option2: exit when 10 EMA returns and touches 50 EMA (again it is suggested to wait until the current price bar after so called “touch” has been closed on the opposite side of 50 EMA).

Thats very simple ok. Look at the picture/diagram at the top.

Thank you for you attention.