This is my strategy for making money. It is similar to eelfranz's "Trading Made Simple".
Set up TDI Indicator. Setup Stochastic Slope indicator as OVERLAY (on top of TDI). Remove the fast moving line of TDI (turn it black so you cant see it), so only the red line remains (I changed the colour to green because it stands out better). Now remove the blue dotted line from the Stochastic Slope (again turn it black). Also, remove the 80/20 lines from Stochastic Slope aswell. See picture attached for my personal setup. THIS ONLY WORKS WITH AUDUSD, dont waste your time with other pairs, I have tried.
Now, all you have to do is this:
1) Wait for TDI to move above 68, or below 32 (from now on we will assume TDI moved above 68 for simplicity).
2) When TDI is above/on the 68 line, wait for Stochastic to cross it downward. As soon as it crosses downwards, enter short (It MUST cross and CLOSE below the TDI line).
3) Every 25 pips price moves against you from entry, take another position of equal size.
4) When TDI touches/crosses the 50 line, I place a stop loss just above the recent highs.
5) Regardless of how many positions I have, I ALWAYS take some profit at 100 pips. (I have never had to take more than 6 positions at the MAX)
6)***IF TDI starts moving down, then goes back upwards, whether it is a double top or continues to go up even higher, I keep taking positions but look to close at the overall break-even point (this happens once every.....say 4 trades, but I have NEVER lost money, just stick to the strategy).
7) If you try to only trade with the trend, you will hardly see any TDI double tops/breakouts, but I disregard trend direction and always trade both ways, in the worst case I break-even.
8) The only time I have ever lost money is when TDI touches/breaches the 50 line, I set my stop-loss, then it goes back. Depending how many positions you have, one will likely be break-even and the rest will be at a small loss (nothing compared to the gains, almost no comparison)
Attached is a picture of my setup. If you have any questions you can ask, I will answer when im around, but I recommend you guys try it and make some comments. Please do not bash my system if you have not read all the rules and at least looked at my/your charts to see that this is not bs.
P.S. Whenever I mentioned double top above, I meant on TDI, not price. Also, I only use 1hr charts, and ONLY USE AUDUSD!!!!!
P.S.S. I forgot to mention the green vertical lines I have drawn represents a long, red for short, and white was a trade, but turned out as a double-top on TDI so I changed its colour.