DislikedDear all traders, I have been asked in a few chat rooms what strategy do i use for swing trades. Therefore i decided to share this strategy of mine to anyone who is interested. Average 300-400 pips a month. Things you need: 1) Daily Chart on GBP/USD 2) 4 hours Chart on GBP/USD 3) Slow Stochatics (13,5,5) on both charts 4) EMA 4, EMA13, EMA50 on the 4 hours chart Look at 4 hours chart Entry: When the EMA4 first cross the EMA50 follow by EMA13 cross the EMA50, with a new open candle, place your entry with a stop loss of 50pips. Exit : When EMA4 reverse...Ignored
Great GBP/USD Strategy for Swing Trades
- #925
- Edited 11:48pm Jan 26, 2022 10:38pm | Edited 11:48pm
- | Joined Mar 2014 | Status: Trader | 235 Posts
At 4 o'clock this morning I closed the trade, at the open of the next bar after the EMA's crossed.
Checking in later I found that price had then plummeted, which would've resulted in bigger profits.
Buy hey, I followed the rules and as they say, "that's trading".
You'll notice I had 2 positions on.
The first one was entered manually as per the rules with a +1.78R profit.
The second one was entered by an EA I tried to program for the strategy but somehow it entered later.
That booked a +1.46R profit and I closed it manually along with the first one.
I was very lucky that a stop hunt didn't take out the 1st position, so it was somewhat a blessing in disguise to have an EA enter a trade after momentum was confirmed.
Now I'll need to decide whether I want to continue using it as is.
Checking in later I found that price had then plummeted, which would've resulted in bigger profits.
Buy hey, I followed the rules and as they say, "that's trading".
You'll notice I had 2 positions on.
The first one was entered manually as per the rules with a +1.78R profit.
The second one was entered by an EA I tried to program for the strategy but somehow it entered later.
That booked a +1.46R profit and I closed it manually along with the first one.
I was very lucky that a stop hunt didn't take out the 1st position, so it was somewhat a blessing in disguise to have an EA enter a trade after momentum was confirmed.
Now I'll need to decide whether I want to continue using it as is.
- #929
- Edited 11:25pm Feb 4, 2022 7:18pm | Edited 11:25pm
- | Joined Mar 2014 | Status: Trader | 235 Posts
I got caught out by NFP and forgot to close the trades earlier.
Closing the trades at the EMA cross, the standard entry position gained +6pips and the revised EA (with entry at Close of the new bar) was stopped out for -50pips.
That's +0.12R and -1R respectively.
I'm now considering that, instead of a delayed entry 2nd position, having a pilot trade with a smaller position size, entering at the EMA4 / EMA50 cross to anticipate the trend.
Let's see if it makes or breaks the strategy.
Closing the trades at the EMA cross, the standard entry position gained +6pips and the revised EA (with entry at Close of the new bar) was stopped out for -50pips.
That's +0.12R and -1R respectively.
I'm now considering that, instead of a delayed entry 2nd position, having a pilot trade with a smaller position size, entering at the EMA4 / EMA50 cross to anticipate the trend.
Let's see if it makes or breaks the strategy.
I love this trading strategy, and I am glad that the thread is aliveI opened a long position at 1.31625 yesterday, but closed it because EMA4 and EMA13 dead-crossed with the open candle at 04:00(GMT+3)...
My re-entry was stopped out, again.
The issue being that I missed the initial entry which would not have been stopped out, and price has now taken off.
I'll now need to be patient and wait for the next trade.
