Well let me introduce myself being i'm new here...my names Greg and i've been tradeing forex live for about 3 years now, and have always reffered to FF for answers to the many questions I had during my learning experience, and now that i've finished a year in profit I felt like I should give back a bit and share my strategy. Now i'm not sure if this is origonal, but I call it Priscan, so if it has another name just let me know. It is very simple, brings in an average of 200 pips a month (sometimes more sometimes less), and is a great way for novice traders to bring in an income. I use either 1:1 leverage or 2:1 (if i'm confident) leverage being it has "low risk" level..It works best on basically any DAILY. Here it goes...
First you set up WMA 4, WMA 15, and WMA 40...
now when the 40 crosses with the 4 you open your position, and when the 40 crosses the 15 you close it. (Example Below)
http://img.photobucket.com/albums/v2...tx41/FFEX1.jpg
Now i'm sure your all saying "but I miss the entire trend that way!" Just hold tight, i'll get to that =]. Now some things you should watch out for when using this are...
EXTENSIVELY LARGE CANDLES - NEVER open a position, or close it when you encounter one of these, even if it triggers your MA's. (They will generally lead to morning stars/evening stars.)
3 BLACK CROWS/3 ADVANCING WHITE SOLDIERS-If you are unfamiliar with candle formations, this is when 3 substantially sized candles follow each other simultaniousley in either direction. This indicates you to automatically close your position if you are entered in one, or not to open one if it is indicated.
15/4 CROSS- Never open a position if the 15 and 4 ma's haven't crossed before the 4-40 cross
Now..catching large trends...I'm going to tell you right now, you won't get them all, but the large ones you will. If you see the MA's consolidate and all cross at the same time, or relatively close to each other in the same (DECENTLEY SMALL) candle, then you hold your position until the 15 CROSSES THE 4. I'll give an example of this below.
http://img.photobucket.com/albums/v2...tx41/FFEX2.jpg
Well thats about it..constructive critiscism/questions are more then welcome...Please feel free to share this strategy with others, but please give credit where it is due. Good luck traders.
First you set up WMA 4, WMA 15, and WMA 40...
now when the 40 crosses with the 4 you open your position, and when the 40 crosses the 15 you close it. (Example Below)
http://img.photobucket.com/albums/v2...tx41/FFEX1.jpg
Now i'm sure your all saying "but I miss the entire trend that way!" Just hold tight, i'll get to that =]. Now some things you should watch out for when using this are...
EXTENSIVELY LARGE CANDLES - NEVER open a position, or close it when you encounter one of these, even if it triggers your MA's. (They will generally lead to morning stars/evening stars.)
3 BLACK CROWS/3 ADVANCING WHITE SOLDIERS-If you are unfamiliar with candle formations, this is when 3 substantially sized candles follow each other simultaniousley in either direction. This indicates you to automatically close your position if you are entered in one, or not to open one if it is indicated.
15/4 CROSS- Never open a position if the 15 and 4 ma's haven't crossed before the 4-40 cross
Now..catching large trends...I'm going to tell you right now, you won't get them all, but the large ones you will. If you see the MA's consolidate and all cross at the same time, or relatively close to each other in the same (DECENTLEY SMALL) candle, then you hold your position until the 15 CROSSES THE 4. I'll give an example of this below.
http://img.photobucket.com/albums/v2...tx41/FFEX2.jpg
Well thats about it..constructive critiscism/questions are more then welcome...Please feel free to share this strategy with others, but please give credit where it is due. Good luck traders.