This is a system using only trendlines and moving averages.
I am glad to say it works 90% of the time and the losses are very minimal.
setups:
-50SMA
-21EMA
trendlines
profit takings will be the support and resistance lines in the 1 hour.
Basically we enter after a retest from the break of a trendline.
My system is to search for huge trends and wait for counter trend to happen. It always happen and will happen because trader is trading it.
The MAs is only for reference purpose to tell me whether i am in a long or short trend. I don't use them for entry and exits!!! Do not rely on indicators!!!
Stops should be 50-100pips.
Take profits average is about 200-300 or more.
To do this strategy, i suggest having an account with 1000pips space.
As this strategy works 90% of the time, our losing trades are minimal and account should grow quite quickly.
Placing the trendlines is the hard part where many people fail to do.
I will guide u guys.
I am glad to say it works 90% of the time and the losses are very minimal.
setups:
-50SMA
-21EMA
trendlines
profit takings will be the support and resistance lines in the 1 hour.
Basically we enter after a retest from the break of a trendline.
My system is to search for huge trends and wait for counter trend to happen. It always happen and will happen because trader is trading it.
The MAs is only for reference purpose to tell me whether i am in a long or short trend. I don't use them for entry and exits!!! Do not rely on indicators!!!
Stops should be 50-100pips.
Take profits average is about 200-300 or more.
To do this strategy, i suggest having an account with 1000pips space.
As this strategy works 90% of the time, our losing trades are minimal and account should grow quite quickly.
Placing the trendlines is the hard part where many people fail to do.
I will guide u guys.