This method is dedicated to Andy Laodeabdul, a cookie seller, a trader, and also very nice guy that willing to teach me in the near future on how to trade.
Based on my email and IM with him, here is the conclusion of jasmine_marble V2.
The resource can be found here (original indicator): http://www.forexfactory.com/showpost...90&postcount=4
http://www.forexfactory.com/showpost...8&postcount=26
Use the 15min TF for this v2, but you MUST see the Andy’s original Jasmine_Marble at 4hr TF for your decision.
Okay, entry exit stop loss:
Based on my email and IM with him, here is the conclusion of jasmine_marble V2.
The resource can be found here (original indicator): http://www.forexfactory.com/showpost...90&postcount=4
http://www.forexfactory.com/showpost...8&postcount=26
Use the 15min TF for this v2, but you MUST see the Andy’s original Jasmine_Marble at 4hr TF for your decision.
Okay, entry exit stop loss:
- Entry first lot buy if and only if stochastic above 50 and recent close price above previous close price
- Entry second lot buy if and only if when close price above MA and MACD hist above zero
- Close Exit first lot when stochastic below 50 and recent close price below previous close price, OR you can use andy’s method on certain reversal candlestick. Refer to Steve Nison’s candlestick book.
- Close Exit second lot when close price below MA and MACD hist below zero.
- Hard stop loss is 60 to 70 pips (define your personality, aggressive or conservative, aggressive means that you are willing to take more loss to gain more profit)
sell rule is opposite to those a/m rules.
Do not blame me (courtesy of Forex Factory and advice from Andy):
Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency.
