Part Time Wealth Building Trading System

thanks tkimble...

this is just what i thought...wait for the rsi to cross the 50 level
it makes sence to me!!

btw the system i use 4 the emini sp is something called "powertradesystem" maybe you know of it
still interested with what system you traded the sp

thanks,
richard

btw the pound is getting very close to a change if i look correctly at my chart...(vt-tradestation)

Take a look at my weekly scalping system. I think you will find it interesting for trading the Eminis.

This is the link>>> http://www.forexfactory.com/forexfor...ad.php?t=11937

Happy Trading,

Tkimble

yes, that's what he is doing..... he sets fixed stop 50 pips below the opening price and he keeps it there till trade reversal occurs.

This is not bad, but this way is also many pips lost, I would say.
Some exit strategy would come handy.



LostFX

Another thing that I like to review are upcoming reports. ForexFactory does a great job at listing and weighing the reports on a daily basis.

Lets use today as an example. Not much news being reported so the market is comfortably idle in a very narrow range. Barring any surprise market impacting news, market should stay fairly calm until the Asian open.

When the reports are released, you have a 50% change of being on the profitable side of the news. Typically the markets will begin edging in the direction of the anticpated post news release market direction. Normally this is coupled with report release short term volatility and then the trend resumes.

Keep in mind that the Weekly Scalping system is nothing more than a reinterpretation of the Trending system that I have posted. The weekly version simply provides a more rigid enforcement of trade execution minimization by providing very specific end of week entry and exit strategies.

Start watching the markets 30 minutes before the release of major reports and you will see what I mean...

Happy Trading,

Tkimble

Another entry generated right now at GBP/USD 1.9391, below low sma and below 50 rsi.

so if i got all of the system correctly,we are now short the cable as of 16.00 cet and @ 1.9390 using virtual-trader

correct, we are short with 50 pips fixed stop loss.....

LostFX

tkimble i would like your permission to ask vt to make me an trading-system,based upon your system

it would be great if somebody does EA for metatrader for this system.....

any updates anybody?



LostFX

This system is amazing!! Ive been applying it to one of my demos with good results but I have one question: do we wait until the full candle closes above or below the high/low 50sma? Meaning that the tail of the candle does not cross either high/low sma?? thanks!!

Yes, we wait till 30min candle closes and look if both conditions are met at that close. If yes we open positions on next candle open.

Hondakorn, which system do you use?

LostFX

Im using my own wma/ema cross along with a 45 rsi on 1hr chart....I was reading the forums and found this strategy....this is amazing...

Can you give us more details about your system?

Thanks...

Its not done yet but here is what I have: 10wma and 30ema on either 4hr or daily and 45 rsi and I use 1hr chart for entry....exit is at your discretion....im trying to come up with a set entry and exit but I can't figure out what the conditions are but I am still working on it and im still learning...nothing real special but it works for me...lately ive been using instantaneous trend and delta waiting for both to cross either up or down in conjunction with the ma's

No problem...

No. Only the close of the candle...

Very interesting thread. Thank you for sharing.

Now I need to go back and give it a very serious re-reading.

James