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Jake Bernstein 10 SMA high 8 SMA low trading system 94 replies
SMA 200+SMA 55+SMA 5 is very profitable 49 replies
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DislikedAgain, I can't help myself.
Looking at the 4h chart, the price hit a clear double-bottom a few minutes ago, just short of my imagined support point, and started to retrace.
I say, "imagined" because I got the keying wrong and set up the wrong tp. I set up 223.30, not 223.50. What a jerk. I am not safe to be let out alone.
I have no idea whether this retrace will turn into a substantial bounce back that will take out my trade at just a few pips profit. What I do know is this: it is 1.42 am GMT and I would not want to spend the night wondering what was happening, were this a live trade.
So, I have set a +50 sl and will refuse to cry if my should-have-been +130 turns into +50. +50 aint bad, after all.
Memo to myself: don't enter orders after a few drinks cos you will hit some wrong keys.
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Dislikedthis is a good system .... but like any system you must exercise discipline ...
here is another and very similar system.....
http://www.forexfactory.com/showthread.php?t=62071Ignored
DislikedI have been having some profitable fun with the gj pairing lately.
There is a brilliant breakout strategy posted originally by NicoTina at http://www.forexfactory.com/showthread.php?t=51365
Saaedb wrote an ea to automate the trades - I have attached that because it is not so easy to find. Put the ea on a 1H chart, adjust RangeStart, RangeEnd and CandleClose to your own broker time then just sit back and watch.
It is well worth ploughing through the entire thread; settle in for a long, but ultimately profitable, read.
Happy New Year everyone.
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Dislikedwhat does RangeStart, RangeEnd, and CandleClose mean?
I think it's kinda hard to code trendlines, everyone draws it differently, so, what should we do? Just Alert when a trade happens? And exit manually? Or TP on SR's, I know how to code that, I just need exact rules to define an SR, 3 higher lows on both sides of the SR, something like that.Ignored
DislikedIn the Mouteki thread, there is a program which will draw the trendlines [can be found in ForexFactory]. As for SR, I think you should use Super S/R program to do that [can be found in FxFisherman].Ignored