Weekly Charts Trading system-picking tops and bottom

sorry i could not attach chart with it

the last oscillator looking indicator is RSI -4 wighted close with 30,70 1nd 50 levels (fixed limits 0-100) and over placed another RSI-7 for same parameters and this is with kind courtesy of availdollar (thanks)

we are here to learn from each other and anything good must be oicked up

No interest from traders and even no comments

so many views but no replies.

please post your candid comments whatsoever they are.

If this system is used with discilpline and good money managemeny, its 80 % of the time is a winning system, but only problem is that its is long term system. you can compensate by trading number of pairs. by this way it would be easy to manage positions and more number of signals. even with this system of weekly charts one can trade 20 + pairs, even gold and oil as well and difinitly options trading is the best option if one wants to use that derivative instrument through this system

Could you please explain precisely the entry, exit and stop loss rules for this very long term method, taking GBP/USD as an example.
If these are clarified the method may attract the attention of some long term traders.

With due regrets this thread is closed due to less interest by treaders in this system. really opplogise for all this. thanks for your interest so far.

hey, im interested in this system./ Actually I was looking for a longer term system as I got heavily burned trading intra-day...

Can you please at least mention how to use the Daily chart to filter the weekly entrance?

Thank you.

hi...

Well I dont know why the thread was closed by the thread starter when a question was asked as to the actual entry ..exit ..and stop rules 2 days prior to closing with no reply..

To be honest though...if it worked as well as your charts looking back show..you would be heading to the rich list...

I think there is merrit in the idea to use longer timeframes to trade I also had plenty of trouble keep my head above water using 5, 15, and even the 4hr charts..

So dont worry about no comments this is a place where you can develope your system....a big problem being it could take ages before being able to test going forward with even a demo trade.

If you do continue on....using Eur is probably the way to go as cable can be a bit crazy at times and may just break stop levels.

Break that larger chart you posted earlier into small more detailed charts with buy/sell and exit levels on them.

The winning system in my opinion....keep the number of trades low...keep the winning Pips high...keep the losing Pips low (compared to winning Pips) and base your trades on reasonably sound logic even if not perfect you will still manage to hit a few good winning trades that will more than cover a number of losing trades.....and from what I have seen this can only be done(with a low strike rate ) using the longer term trades...daily and above.

So do continue......

well, i guess the author didnt have a reliable strategy in the first place You dont give up after a few posts, even if u get little reply in the beginning. If the strategy works, just keep on posting ideas and trades here, and people will get more interested.

The strategy is based on few very sound logics of market and it works. I really wanted to get help from traders and give whatever i had but no response situation discourged me. with this strategy we can trade only daily and weekly charts and no charts of lower TFs.
We can restart it if even few traders are interested and its developmental prcess will continue till the time all participants are satisfied with results and outcome.
I am sorry if i have been so illogical in quitting this thread

People can also trade daily charts with this stratgey but only in the direction of weekly and can trade weekly charts as well. In either case the entry and exit has to be in a single time frame. no shifting of entry and exits between time frames as this is not logical at all.

Traders can decide which time frame to trade so that we can focus on it. Please tell me which tim,e frame should be our focus in trading this strategy.
Please specify either weekly or daily so that we all get along in single direction with a purpose

Blues squares and rectangles are drwn by me not by the EA. They were only to show you the top or bottom of potential trade in any currency pair and you can see clearly market turns indicated by indicators. They are basically potential stop loss points which are normally 20-50 points above or below the high or low

i have simplified it little more after studying few more currencies and this is the latest chart which i use for live trading in daily and weekly charts.
Please use this simple set up for both daily and weekly. Please dont get irritated with this change as it was my effort to eradicate duplication of signals from more indiocators and simplify it to the maximum as it can be done

I hope now we can have positive in put and critique from traders and can make it more simpler

The idea is to pick tops and bottoms of weekly or daily charts what so ever you like and than stick to this simple system for profits.

Some, or maybe most people don't have an account size that can handle a swing of a few hundred pips in the negative. For this reason I check the weekly sometimes, but do not trade on it, and attempt overnight trades.
Even with 80% success making mistakes on learning, or beginners bad luck can be an issue. I'm curious on how big the average stop is for you when you first enter a trade. Or do you keep statistics on how far against you the trade can be BEFORE it ventures in the profit terratory.
Obviously if I'm 200pips positive, and then the trade becomes a loss, thats on me, so I'm only asking about the initial entry on a weekly trade such as this.

If you are trading the dailies with this sytem than your stop loss will be between 50-150 and that is the space you provide to the market in daily time frame to breath before it goes in your favour or against you but risk and reweard ratio will always make things for you. Intrday is not a successfull way for 99 % traders as day trading is 100 % difficult than longer term trading.

Question, what indicators and settings would you recommend for a daily chart?

Thanks!

5 EMA open
5 EMA close
BB 20 2 close
Stoch 10,3 ,3 close/close and simple level 80,20,50
RSI 5 CLOSE and RSI 13 CLOSE both in one indicator with level 50 only and fix the boundries between 0 and 100

HI;

The daily indicators were given by you in the post above, but could you please expalin in deatil how to trade the indicators, soory I need more details, to understand the TRADE SETUP!!!

Please explian on chart, the trade setups

Thanks
Zee