I've been developing this new strategy, witch is very simple but very powerfull! This is not the ForexSmartS typical trading strategy, it's just a handy trick! ;)
I call it ForexSmartS Piece of Cake! (no coke, Loki, cake!)
I've just tested it on EURCHF pair, witch is a very technical one, and on demo account. I'm starting the Real Trading with this strategy today, and I'd be glad if you could test it with me!
I use a NonLagMA witch is a common Moving Average but with a improvement indicates the angle changing by changing colors; and the stochastic oscillator. ONLY. (download with template above)
Differently from ForexSmartS typical, this strategy has a TARGET and a STOPLOSS. For those who were critical about no stops, that's your chance!
As this is a technical-only strategy, I suggest you to have a good money management strategy. But, that little pips can make you a few beers on the weekend :)
So, already curious? Click here to download the template and the indicator.
Unpack it into your MT4 folder and load the template at a EURCHF(H4) chart. That's what it must look like:
All you have to do is wait for a PERFECT MATCH, I'm not into explaining what is a match with words, but a picture says more than a thousand words. This are MATCH exemples:
Zooming in:
And to be clear this are NO MATCH exemples:
Match? Go on and enter your trade.
Just to be clear for those who have fallen from the cradle when baby and will certainly ask, the green stoch line must cross UP the yellow one and the NonLagMA get blue for LONG positions, and vice-versa for SHORT positions. (lol, just kidding :D)
I make it like that, I open three positions. All them with stop-loss set to 50 pips.
I set the first of this three trades TP to 30 pips, the others, just leave it with no target. When this first reaches the TP level, you set the seccond trade to +30 pips TP and it's stop to 20 pips from the opening. Do the same again with third trade.
Was that clear?
Target 1 : 30 pips
- When reached:
Target 2 : 60 pips (set stop to 20 pips to garantee profits)
- When reached:
Target 3 : 90 pips (set the stop to 40 pips to garantee profits)
Don't use any other stuff to close the trades, kinda color changig or something like that. Just the TP and SL.
** Tip: Wait for the next candle opening before entering a position, because NonLagMA variates it color withing the active candle, so, wait it to confirm the color before enterning! **
Waiting for your comments!
C ya!
Dear Rodrigo,
ReplyDeleteThanks for sharing and this indicator is indeed a good indicator. However, I am not sure how should I intrepret the orange moving average before it turn red and would be thankful if you can help to explain.
Many thanks.
can u explain in words ?
ReplyDeleteDear Rodrigo,
ReplyDeleteMay I know if the strategy can be applied to shorter time frame, like 15-min or 30-min? If not, any setup that you have ever done for the shorter time frame?
Can this strategy also be applied to other currencies like EUR/USD or USD/JPY? Thanks in advance.
Hello IntraD. Thanks for your comment. I don't trade shorter time frames, but, give it a try and post it on the Forum. I'd be glad to post it here if it works. It works fine just on EURCHF as long as I've tested.
ReplyDeleteDear Rodrigo,
ReplyDeleteThanks for your reply.
I really thank you so much for sharing your strategy. It is a God send to me, because I have been beaten so much by the market.
Yesterday, I tested this piece of cake 4H strategy to the AUD/USD. I saw the signal and I bought at 0.9350. It hit the 1st TP=+30pips and +60 pips. I was too excited and anxious when it pulled back a bot, then I sold the rest at0.9405. That was 55 pips. I should have patiently wait until today :-). Now, 6 May 2008 11.56AM (Asia time) AUD/USD is 0.9472. It was fantastic setup indeed.
The second one I tried with USD/JPY. Last Nite, I short at 105.40 and now I am still in. The price is 104.71. My stop loss now is 104.81. So, it gains 60 pips already.
Thanks a million for your info.
I am realy appreciate it very much. It gives me a hope that I can get back all my losts :-)
God bless !
I thank you, and I'm sure you'll get your losses back. That's a piece of cake! :D
ReplyDeleteBut I don't realy think it'll work properly on those pairs every time. It was developed for EURCHF, witch is a very techincal pair. But I'm glad you had nice trades.
Please, share your trades with us on the FORUM, I'd be thankfull.
Dear Rodrigo,
ReplyDeleteI have tested this strategy on the GBP/USD, EUR/USD, USD/JPY, and AUD/USD.
The strategy works well with almost all of the pairs, except GBP/USD. This pair has bit more noises and very volatile. The range is so wide that we can get easily stopped.
If I were to put the above pairs in order to be recommended traded using this strategy, it would be :
1. USD/JPY
2. AUD/USD
3. EUR/USD
4. GBP/USD (must be very careful)
Another point to note on trading the above pairs especially, make sure that you know the forex calendar. The news can be very nasty.
That's all my comments at the moment.
Cheers,
Indra Darmawan
Hello intrad.
ReplyDeleteThanks for your comment, very nice point for the readers to care about.
Keep up the good work,and share with us your results.
Cheers.
well that I will test the system and then I will let you know how I was
ReplyDeleteRodrigo
I congratulate you for sharing
Thanks for sharing this system, here is the expert advisor based on it :
ReplyDeletehttp://www.tradingsystemforex.com/expert-advisors-backtesting/517-forex-smart-s-system-ea.html
I've just recently purchased Mt4 Protect and wanted to tell you guys about my experience with it.
ReplyDeleteI was worried about all the Metatrader virus's out there at the moment as I heard you can get them from downloading EA's from the web.
While I don't download decompiled expert advisors the last thing I want is some hacker getting my account details and draining my forex account as I have built it up into quite a bit of cash. That's why I purchased MT4 protect so it can stop my pc from getting attacked. I think the price is well worth the protection I will receive
I got a copy at [url=http://www.mt4protect.com/] www.mt4protect.com [/url] via paypal and my product code was sent to me within 4 hours.
I installed it and its great It works in the system tray and scans my computer in real time to detect any attacks.
The EA optimization tool is so great - you can allocate more memory to your MT4 terminal so your trades get executed faster! There are also heaps of registry tweaks and cleanup features that have speeded up my Windows 2000 computer.
With hackers and virus attacks hitting Forex traders all the time now I definitely think that MT4 Protect is a worthwhile investment.