Hello,
Guys, please test this setup on your charts. (I highly recommend VT trader as it gives alerts with arrow and sound)
Open a new chart.
Right click and add a complex trading system
Use 5 Weighted, 10 Simple cross (5wma 10sma)
RSI 14
MACD 12,26,9
Default and basic stuff.
This worked for me good for 4HR charts, as the 4HR charts are clear and in waves. but can use for 1HR and 4HR and Daily.
Now, that was my turn. Coming to your turn; please workout an exit signal as I never worked out any, also take profit levels. I can look at the chart and find every signal profitable, but I couldn't come to a rule for take profit or stoploss, exit.
Note..I personally do not enter until three timeframes (1hr,4hr,daily) are in same phase while a new signal is generated.
example> If daily is bearish, I do not take long setups on 1hr or 4hr, 4hr might be good trade and miss out. but I like to play it on the safe side.
I can also use any timeframe signal to enter. I switch from 1hr to 4hr to daily but all must be in same bullish phase, or bearish phase.
Now, I have 2 problems. Research a take profit potential and stoploss level please.
Do not call it a system, it's pretty basic stuff. and you sure know. just wanted to start this thread to improve this KISS.
Best wishes from your friend
Ahmed
Guys, please test this setup on your charts. (I highly recommend VT trader as it gives alerts with arrow and sound)
Open a new chart.
Right click and add a complex trading system
Use 5 Weighted, 10 Simple cross (5wma 10sma)
RSI 14
MACD 12,26,9
Default and basic stuff.
This worked for me good for 4HR charts, as the 4HR charts are clear and in waves. but can use for 1HR and 4HR and Daily.
Now, that was my turn. Coming to your turn; please workout an exit signal as I never worked out any, also take profit levels. I can look at the chart and find every signal profitable, but I couldn't come to a rule for take profit or stoploss, exit.
Note..I personally do not enter until three timeframes (1hr,4hr,daily) are in same phase while a new signal is generated.
example> If daily is bearish, I do not take long setups on 1hr or 4hr, 4hr might be good trade and miss out. but I like to play it on the safe side.
I can also use any timeframe signal to enter. I switch from 1hr to 4hr to daily but all must be in same bullish phase, or bearish phase.
Now, I have 2 problems. Research a take profit potential and stoploss level please.
Do not call it a system, it's pretty basic stuff. and you sure know. just wanted to start this thread to improve this KISS.
Best wishes from your friend
Ahmed
Forex is not easy!
