Almost SET n FORGET
picture can paint a thousand words... so maybe i will post many screenshoot
so u can get the picture of my system
I believe the real Support and Resistant is PRICE at every 100 pip
what i mean is for EURUSD is 1.3900...1.4000... 1.4100...
if price can break up 1.3900, ussualy it will go to 1.4000
and if price break down 1.3900 ussualy it will go to 1.3800
And so with other PAIR
and what we need?
1. TREND FILTER , i use 10 SMA and 100 SMA
2. H1 TIME FRAME
4. GOOD MM
after this i will post some screenshoot which i take them randomly
the periode is from 29th July 2011 until 12th August 2011
so what is the RULE
first, for me Forex is a WIN and LOSE game.. if u can discipline with the Lose, you will win the market.
2nd I do believe in Basket Trading because for me it's like diversification of ur business and risk..
from the picture i posted, u can se clearly what i mean
oke here is the rule
1. EVERY OPEN DAY look at where SMA 10 and SMA 100 is..
2. if it's UPTREND so ONLY BUY at THE X.XX00 level above them
3. if it's DOWNTREND sp ONLY SELL at the x.XX00 below them
4. SET TP at NEXT X.XX00 level and SL at X.XX00 opposite LEVEL
u can use BUY STOP and SELL STOP ORDER, and just leave it
5. THE MOST IMPORTANT.. CLOSED UR TRADE EVEN U in PROFIT or LOST at the OPENING of NEXT DAY
this is the indicator to make HORIZONTAL GRID
for EURJPY i'm not using 100 pips GRID, but 50 pips...
u can make ur observation to another pair
if u found ur formula which the PROBABILTY of WIN is GREATER than LOSE...
then all u need is set ur Money Management which Comfortable with u
don't just think the Profit, but always ask.. "CAN I AFFORD THE LOSE?"
CLOSED the TRADE
watch the chart at opening day..
set buy stop or sell stop
monitoring 2-3 times just to make sure if we need change our buy stop or sell stop
leave it until next day
i just add EURUSD...
i believe u know what price is , SL and TP
so, this is my 2 cent system for you
hope we can more enjoy our life....
not just infront of computer....
Do you buy/sell as soon as price touches whole number or do you buy/sell a few pips above/below whole number?
mostly i use sell stop and buy stop order
Hmm this can be easily coded in an EA and tested, and I think it would fail like other simple systems...
Do you keep buying if it keeps going up and breaking through higher whole numbers?
but for today, AUDUSD not open at the right price cause i woke up late since i get some jobs until 2 am....
we need EA ? maybe....
maybe u are right Jasus..
i made manual observation for 1 year..
sometimes some pair give bad trade, some give good trade...
sometimes only one trade a week... but so far 5-10% can be made a month
it depends on our MM
and sorry, i will never do backtest using EA
but i apreciate for ur input
no, ONE TRADE for ONE PAIR is enough... WIN or LOSE
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