Hello and Welcome to my trading system thread. it's all based on momentum for me picking it from cheaper spot.
I keep things simple in my trading and would be no difference to approach this thread, so I get right to it.
1) ONE minute time frame.
2) 5EMA (HLC/3 - shift 1 – yellow line) to crossover 40EMA (Close - shift 0 – blue line).
3) PA to pullback and touch/react to 40ema, without pressing the 5ema over 40ema and MACD on to opposite.
4) Resume back by 1st candle cross close of the 5ema.
5) RR 1:2+… Stop behind the last H/L… Target +20.
That’s it. This is my signal creation philosophy. Simple or at least I think so.
What I do:
1) I believe in my system and stick with it through thick and thin.
2) I make NO interference post trigger… stop or target; it’s a do or dies thing for me in this department… The trick is, it allows me to be patience.
3) I make only one trade per hour, per direction, per pair, When and If signal is given.
4) I look to walk away with +20 pips a day and stay very protective of it.
5) I risk 1% per trade.
6) I do not take trades with less than 2R’s. So if the stop is greater than 10 pips, it’s a reject.
7) I trade the following 4 major pairs: E/U – G/U – E/J – U/J.
8) I can care or less about what’s happening elsewhere. What I mean by that is that I don’t look at any other time frames beside the 1M.
9) I do not care about any correlation factors. It’s all meaningless to me.
10) I remove pending orders 5 min prior to red news and I resume with considering trades 15 min after.
11) I only trade the first 3 hours of the EU open. Living on the west coast, so I trade from 10:30 pm to 2 am give or take. I don’t want to stare at charts all day long and no reason to lose out on my beauty sleep. I also think the best time to trade currencies is the early part of EU session. You can trade it all day long though.
I highly recommend for you guys to do the same, but it’s up to you.
Why is it called 45? Well, as you can see the main ingredients of this system are made of 5EMA crossing over 40EMA. So, 40 & 5 for 45, lol.
Important posts to read:
4- http://www.forexfactory.com/showthre...94#post8060494 ... The Narrow entry.
7- http://www.forexfactory.com/showthre...68#post8051468 ... Must read for junior members.
9- http://www.forexfactory.com/showthre...44#post8241144 ... Correct stop placement details.
10- http://www.forexfactory.com/showthre...74#post8241974 ... Must read and do.
11- http://www.forexfactory.com/showthre...54#post8275254 ... TE list
12- http://www.forexfactory.com/showthre...82#post8281082 ... Hammertops pdf v5