Here is a trading system I have been using for the last 6 month with great results. The idea is "cut your losses short and let the winner run" I am trading only the Daily Charts on dailyfx. It is a web based chart which allows mobility. I am only trading daily's but feel free to test it on different timeframes.
Here are the rules: Do not trade only 1 pair. Use your money management and positions wisely and allow room for as many pairs as possible. The point here is that we want the winners to outrun the losers..
Place a 5 EMA High and 5 EMA Low on the chart. Short when red candle closes inside the channel, long when blue candle closes inside the channel. Closing candle has to open outside the channel to become a valid signal. Let it run until you see opposite signal. Stop Loss is high/low from last candle.
Lets start rolling...
Here are the rules: Do not trade only 1 pair. Use your money management and positions wisely and allow room for as many pairs as possible. The point here is that we want the winners to outrun the losers..
Place a 5 EMA High and 5 EMA Low on the chart. Short when red candle closes inside the channel, long when blue candle closes inside the channel. Closing candle has to open outside the channel to become a valid signal. Let it run until you see opposite signal. Stop Loss is high/low from last candle.
Lets start rolling...
Attached Image (click to enlarge)
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