Hello every one. I am a FF member for years now and I would like to contribute to this very good site by describing one of my strategies I used to apply. I did not backtest it, but trade it for real. Any help to backtest would be appreciate of course.
So, here is the stategy :
Pairs : Eur/usd - eur/jpy - gbp/jpy - gbp/usd - usd/jpy
TF : any but the longer the more reliable it is (less false signal)
Long entry : Price crosses the kijun Sen upward AND Chikou Span is above price action
Stop : The last swing low and move the stop with Kijun Sen (5-10 pips under it) as soon as it moved 20-30. Or, for trend followers (and especially if cross happened above the cloud) it could be 5-10 pips under the cloud. It's up to you and depends on your MM.
Exit : If it is crossing under the cloud, the first target would be the cloud (Senkou Span - first resistance) - If it is crossing above the cloud, then we can exit when price crosses downward the Kijun Sen.
P.S. : If cross is happening within the cloud, I would prefer to wait for a close above the cloud to reduce risk.
P.P.S.: If the ratio TP/SL is under 1,5, then I don't trade and wait for the next opportunity : I prefer to be flat than in a bad trade !
You reverse for short entry.
All comments are welcome. I will try to answer the questions about this system as fast as possible, but I have a regular job so please forgive any late answer....and my poor english too
So, here is the stategy :
Pairs : Eur/usd - eur/jpy - gbp/jpy - gbp/usd - usd/jpy
TF : any but the longer the more reliable it is (less false signal)
Long entry : Price crosses the kijun Sen upward AND Chikou Span is above price action
Stop : The last swing low and move the stop with Kijun Sen (5-10 pips under it) as soon as it moved 20-30. Or, for trend followers (and especially if cross happened above the cloud) it could be 5-10 pips under the cloud. It's up to you and depends on your MM.
Exit : If it is crossing under the cloud, the first target would be the cloud (Senkou Span - first resistance) - If it is crossing above the cloud, then we can exit when price crosses downward the Kijun Sen.
P.S. : If cross is happening within the cloud, I would prefer to wait for a close above the cloud to reduce risk.
P.P.S.: If the ratio TP/SL is under 1,5, then I don't trade and wait for the next opportunity : I prefer to be flat than in a bad trade !
You reverse for short entry.
All comments are welcome. I will try to answer the questions about this system as fast as possible, but I have a regular job so please forgive any late answer....and my poor english too