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Crossover System by ForexPhantom
This system is incredibly simple yet unbelievably effective. If you
properly follow the system, I strongly believe that you can easily gain
100+ pips per day with very few losing trades!
SYSTEM:
Indicators
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5 EMA -- YELLOW
10 EMA -- RED
RSI (10 - Apply to Median Price: HL/2) -- One level at 50.
TIME FRAME
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1 Hour Only (very important!)
VIEW
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Zoom in quite a bit on your chart so that the candlesticks and EMA's
are very large. I use Alpari and this translates into the penultimate
(one just previous of the highest) magnification.
PAIRS
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Virtually any pair seems to work as this is strictly technical analysis.
I recommend sticking to the main currencies and avoiding cross currencies (just my preference).
WHEN TO ENTER A TRADE
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Enter LONG when the Yellow EMA crosses the Red EMA from underneath.
RSI must be approaching 50 from the BOTTOM and cross 50 to warrant entry.
Enter SHORT when the Yellow EMA crosses the Red EMA from the top.
RSI must be approaching 50 from the TOP and cross 50 to warrant entry.
I've attached a picture which demonstrates all these conditions.
That's it!
WHEN TO EXIT
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This depends on your trading plan (everybody should have a plan) and money management rules.
Just by glancing at some recent data, the average hourly trend seems to extend beyond 100 pips before reversing.
I recommend setting a T/P between 50 - 100 pips.
S/L should provide plenty of cushion. Most trades will be winners in
the long-term, but I'm uncertain of an exact win-lose ratio.
Experimentation will yield the best results. I'd start with a S/L of
100 pips.
Remember to always protect your capital. Once the trade moves in your
favor by 20 pips, I'd set your S/L to break even. After 40 pips, set
your S/L to 20 pips profit, etc.
Of course, you could omit any initial S/L and trade with a smaller
contract size to provide plenty of margin, and THEN once the trade
moves in your favor set a break even S/L, but that's RISKY (but maybe
you are a daredevil )!
NOTES
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Always move your S/L after you are in profit so that you break even.
Aim for 50 - 100 pips per trade.
ONLY USE THE 1 HOUR CHART! DO NOT GO LOWER!
Make sure both the EMA's cross AND the RSI is crossing 50 in the direction of your trade.
When you get both of these signals, you can enter a trade with
confidence because these are VERY STRONG SIGNALS. It is incredibly
effective at catching the trend for 100+ pips!
Last Updated ( Wednesday, 16 December 2009 )
Broker's Stop Hunting
It is better to hide the stoploss and takeprofit if you are using MT4
Part1:
Part2:
The Sunday Breakout Strategy
Pair: GBP/USD
Timeframe: 4 hour
Indicators: An ATR(14) on the WEEKLY chart, or use the attached indicator on your 4H chart.
Your broker's charts MUST include the Sunday 20:00GMT candle for this system to work. Some broker's don't put
this candle on their charts so make sure yours does! If not use an IBFX demo account, they include the Sunday
candle and the demo never expires.
Find the Sunday candle:
- On a 4H chart find the high and low of the Sunday candle. If you're backtesting and using MetaTrader turn on the Period
Seperator to make finding it easier. Draw a line 10 pips above the high and 10 pips below the low.
Entry:
- Go long on upper break of the line.
- Go short on lower break of the line.
SL:
- For long trades the SL is the Sunday candle low.
- For short trades the SL is the Sunday candle high.
- Set SL to break even once your profit has reached 2x your stoploss.
TP:
- Your TP is ½ of the weekly ATR(14). indicators_v2
)!
