SIMPLE SET & FORGET SYSTEM.
Hi all.
This is my 1st trading system.
Warning this may be bad for your health !!!
I class myself as a Novice /intermediate trader wIth all the ussual stories of trading for last 10years on & off. ( But something always seems to pull me back to the forex factory. )
This has come about by me wanting to be able to place a trade and only have to view it on rare occasions.
Ok those of you who are still reading and not moved on already I will say this of my system :
1/ It is an off shoot of the Synthonie trader system by Evaluator & Tony’s two candle trading system by Tony_dtrader so pop over and have a look.
2/ Its for the non greedy who can live with pips of 0 – 70 a trade with the occasional loss.
3/ Trading the 4Hr time Frame during 8.00 GMT - 16.00 GMT.
4/ Can be used as a Set & Forget system .
5/ Only 1 indicator is used.
6/ Easy visualised back testing.
I don’t feel that there will be any questions as it should be self-explanatory when viewed .
This is a very very simply system and I hope it can help someone out there.
I originally started with MA's, Stochastics & DTI on my charts but found them not of much use.
Note I have not traded this live as yet ( as tooo busy to become a millionaire )
To stop any lawyers from chasing me I must state this is just my system that I am showing you, But if anyone else tries to use it it will make you bankrupt, so don’t try it only read and discuss (hope that’s enough )
Rules.
Square boxes on chart are the Uk trading times 8.00 GMT – 16.00 GMT.
The red / blue / yellow Indi at the bottom is the SYMPHONIE SENTIMENT EMOTION COMBI INDIKATOR (SSECI) FOUND ON THE SYMPHONIE TRADER SITE.
Picture to follow.
OK
Long Entry
When 1st candle closes at 12.00 gmt
IF
Candle is blue
IF
SSECI is also blue
Place your trade on the Close of this bar.
Take Profit
At the close of the next candle 16.00 GMT
That’s correct we only trade ONE candle.
Stop Loss
What ever takes your fancy I generally use 50pips. But maybe Low of the trigger bar ( but thats up for discussion).
Short Entry
The opposite conditions apply.
Set and Forget
When placing your order on your platform insert a time you want it to be automatically closed. (which would be 4HRs later)
Gamblers entry
Risky trade but possibly beneficial, is if the SSECI is Yellow and about to change to the opposite colour to match the above candle !! ( Gamblers only )
Please help each other improve this system . I will also be learning from you also.
Many Thanks
Note: My Alpari UK Chart candles actually starts at 7.00 GMT to 15.00 GMT ( not 8.00 GMT as stated but should not make any difference )
NightPipper
Hi all.
This is my 1st trading system.
Warning this may be bad for your health !!!
I class myself as a Novice /intermediate trader wIth all the ussual stories of trading for last 10years on & off. ( But something always seems to pull me back to the forex factory. )
This has come about by me wanting to be able to place a trade and only have to view it on rare occasions.
Ok those of you who are still reading and not moved on already I will say this of my system :
1/ It is an off shoot of the Synthonie trader system by Evaluator & Tony’s two candle trading system by Tony_dtrader so pop over and have a look.
2/ Its for the non greedy who can live with pips of 0 – 70 a trade with the occasional loss.
3/ Trading the 4Hr time Frame during 8.00 GMT - 16.00 GMT.
4/ Can be used as a Set & Forget system .
5/ Only 1 indicator is used.
6/ Easy visualised back testing.
I don’t feel that there will be any questions as it should be self-explanatory when viewed .
This is a very very simply system and I hope it can help someone out there.
I originally started with MA's, Stochastics & DTI on my charts but found them not of much use.
Note I have not traded this live as yet ( as tooo busy to become a millionaire )
To stop any lawyers from chasing me I must state this is just my system that I am showing you, But if anyone else tries to use it it will make you bankrupt, so don’t try it only read and discuss (hope that’s enough )
Rules.
Square boxes on chart are the Uk trading times 8.00 GMT – 16.00 GMT.
The red / blue / yellow Indi at the bottom is the SYMPHONIE SENTIMENT EMOTION COMBI INDIKATOR (SSECI) FOUND ON THE SYMPHONIE TRADER SITE.
Picture to follow.
OK
Long Entry
When 1st candle closes at 12.00 gmt
IF
Candle is blue
IF
SSECI is also blue
Place your trade on the Close of this bar.
Take Profit
At the close of the next candle 16.00 GMT
That’s correct we only trade ONE candle.
Stop Loss
What ever takes your fancy I generally use 50pips. But maybe Low of the trigger bar ( but thats up for discussion).
Short Entry
The opposite conditions apply.
Set and Forget
When placing your order on your platform insert a time you want it to be automatically closed. (which would be 4HRs later)
Gamblers entry
Risky trade but possibly beneficial, is if the SSECI is Yellow and about to change to the opposite colour to match the above candle !! ( Gamblers only )
Please help each other improve this system . I will also be learning from you also.
Many Thanks
Note: My Alpari UK Chart candles actually starts at 7.00 GMT to 15.00 GMT ( not 8.00 GMT as stated but should not make any difference )
NightPipper