Easy no stress daily charts:)

Continuation of our deleted thread... I hope we all can learn something here

These are my rules:

1) Simple charts - only Stochastics indicator (8,3,3), daily candles. In the Stoch window, lines at 40 and 60 levels. Moving average (exponential) 100. That is it, nothing else...
2) Buy - price ends the day candle above the MA (always wait for the candle to close). The Stoch lines cross under the level 60 (the faster Stoch line crosses the slow from underneath) - this can happen one thing after another. So it is OK if the Stoch lines cross, the price is under the MA and then finishes another day above the MA - on the next day open I go long. Or the price is above the MA and then the Stoch lines cross... I think it is easy
3) Sell - vice versa...
4) Exits - there are three exit types: a) the SL is hit (oh well, s*** happens) b) the Stoch lines cross the opposite way than the entry is and then the fast Stoch goes under the 60 level (on longs) or above 40 level (on shorts). c) the system says to open the opposite trade (I am long and the system says go short and vice versa). I will post pictures...
4) My money management (the key to success) - I risk 3% of my account. I open two trades, one is 1,5%, the second half as well. First half has this setting - SL=170 pips, TP=170 pips, BE+1 when the price reaches +100 pips. On GBPUSD the SL and TP is 200 pips.
Second half setting - SL=170 pips, TP=none (wait for the exit as per rules), BE+1 when the price reaches +100 pips.
5) Psychology - in my opinion the most important thing in trading! Stick to the rules!!!!!!!!!!!!!!!!!!!!!!

If you use other rules, please share

Backtesting results (around year and half back):

USDCHF +1573 pips
GBPUSD +1068 pips (but I will do further backtest coz just by looking at the charts there are better results in further history)
EURUSD +1678 pips

That is total of 4319 pips in around 18 months = 240 pips/month
That means when you risk 2% per trade a little more than 2% profit on your account every month. That is nice for watching the charts 5 min. a day (sometimes even less, because you dont have to watch the charts when your Stoch is far from crossing) The winning percentage is:

USDCHF 68%
GBPUSD 68%
EURUSD 77%


Happy trading

Hi guys,

unless you mind it, I will not repost here the old posts from our deleted thread. Maybe when I have some free time, I could...

Recently, I am short USDCHF, free trade already, +141 pips now
AUDUSD opened yesterday night is already past the 100 pips, so it is a free trade too EURUSD was quite near the 100 pips level, I hope it gets there too..

charts...

Please,explain your system. Thank you

usd-cad short + 80 pips.

I set a simple take profits on the EURUSD trade, 100% at 1.44270, just below the monthly pivot and daily R1, which was reached this morning for a profit of 142 pips.

AUDUSD is still going with a target of about 95.

Well done for starting the new thread Slurpee. We'll avoid the 'L' word in this one!

If no-one else does it, when I have more time I'll post up my own variation of rules.

thanks

i start the system

my first tade

audusd long +100 pips y close the 50%

eurusd long +100 pips y close the 50%


could you please repeat the pairs you run ?

As I made my last post, the AUDUSD take profit was hit for +95.6. I set the TP just below a previous line of resistance I had drawn, but it looks like it will go further, maybe a lot. Good luck to Slurpee and others still in.

Can someone explain the system?

-Entry rules how???
-Exit rule when?
-MM is?
-Which session

Glad the new thread has started...

Now lets make some pips...

Olu

If we close at the same levels this pair will be a sell

Olu

Can somebody explain the set of rules? how to use the system? Thank you

Thanks for opening the new thread and hopefully, there will be no disruption this time..

Slurpee over to you... pls dont mention the 'L' word.

Olu

Congrats on the new thread!

I closed out mu CHFJPY for a nice profit.

Just entered on a USDJPY sell...

You took the words right out of my mouth - chart uploaded...However the stoch has just crossed today on my charts so tomorrow would be my ideal entry time. But good luck with it

usd-jpy 80.681 short.

i open gold on buy 1511.70

I saw this one as well, but I have kept out of it so far because of the flattening trend, and I'm very wary of the support lines at these levels. I will be happier if it breaks down a bit, but that may be too late for me to enter. Capital preservation