Hey fellas,
Just wanted to share a trading method which I have been using for some months now.It works nicely so I thought of sharing it over here.
I used to trade using the moving average earlier ( MA 34 on 1 Hr time frame).I enter when price crosses the MA upside or downside. What made me think out of the normal MA is sometimes even if the price crosses the trend and prices goes here and there.So In this method I use the same MA 34 but with some color and weights added. I got that Indicator from here - http://www.forexfactory.com/showthread.php?t=181900 Thanks to the programmer who coded the MA
Here are the Indicators :-
1. The custom MA which you can find in the above link -
MA period is 34 and Change MA type to zero (0) and retain MA Applied price 6
2. I use a a stochastic ( 5,3,3) to confirm the trend. I use it for entry decisions only.
3. Stop loss - I use 20 Pips (200 for 5 digit broker) and I use a trailing stop of 20 pips ( I use 5 digit broker so 200)
The entry will be a bit delayed but it will be profitable in say 90% cases ( watch news also).
I used to trade 40-50 trades a week earlier and was in lose. Now with this system I trade say 2 or 3 trades per week and in good profits.
Cheers !!!!
Just wanted to share a trading method which I have been using for some months now.It works nicely so I thought of sharing it over here.
I used to trade using the moving average earlier ( MA 34 on 1 Hr time frame).I enter when price crosses the MA upside or downside. What made me think out of the normal MA is sometimes even if the price crosses the trend and prices goes here and there.So In this method I use the same MA 34 but with some color and weights added. I got that Indicator from here - http://www.forexfactory.com/showthread.php?t=181900 Thanks to the programmer who coded the MA

Here are the Indicators :-
1. The custom MA which you can find in the above link -
MA period is 34 and Change MA type to zero (0) and retain MA Applied price 6
2. I use a a stochastic ( 5,3,3) to confirm the trend. I use it for entry decisions only.
3. Stop loss - I use 20 Pips (200 for 5 digit broker) and I use a trailing stop of 20 pips ( I use 5 digit broker so 200)
The entry will be a bit delayed but it will be profitable in say 90% cases ( watch news also).
I used to trade 40-50 trades a week earlier and was in lose. Now with this system I trade say 2 or 3 trades per week and in good profits.
Cheers !!!!