Thanks to Imransait for his excellent system as this is a varation of his system that I employ to fit my trading personality. WARNING!! This is a more discretionary trading style and that is on 1m charts so before trading any style that is in the scalp variety please demo trade before live trading and if live trading please use small lot size until your ready and confident to trade higher lot sizes
My Trading Style
I am a aggresive trader who needs to fill my hyperactive nature by trading alot and trading hard for the 4 to 6 hours I trade per day. This trading style is only for a trader who can take small losses to get small gains and large gains. There will be losses and wins..with Good MoneyManagement you can win in forex!! My strike rate is 60 to 80 percent depending on market conditions for that trading day!
Now the meat and potatoes of the system I employ!
Very simple! I am in the KISS group. Keep it simple stupid! If my nephews and neice can trade it. You know it's a good system already! Take it from me my charts used to look like some pychedlic trip than a trading chart!
INDICATORS
Laquerre with .80 setting
20 and 60 EMA (Exponential Moving Average)
Laquerre levels are .90, .45, and .10
Trading Times
London Open to New York Close however the best time to trade this is the New York and London overlap this is my trading time daily for me I start 2 hours before New York open and trade til London Close. DO NOT TRADE NEWS! EXIT ALL TRADES 30 minutes before major news and reenter market 30 minutes after major news. Use Forex Factories calendar for these events and times.
Trading pairs
1 minute charts
EUR/USD and EUR/JPY
Rules
Enter Long on Laq cross of .10 or enter long on laq cross of .45
Enter Short on Laq cross of .90 or enter short on laq cross down of .45
Best set-up is if price is above 20 and 60 when Laq crosses .10 signal long trade opposite for short trade you want price below 20 and 60 ema to have best short set-up. If a 20/60 ema cross occurs as laq signal short or long means a great trading set-up.
Stop-Loss and Take Profits
Very important! Stop-loss is 8 to 10 pips on the EUR/USD and 10 to 15 on the EUR/JPY depending on the fluidity of the market that day I will use some discretion on my Stop Loss. I take profit as the following. I trade 2 lots. First lot I take proft at 3 pips on the EUR/USD and 5 pips on the EUR/JPY the 2nd lot is now set to exit and 0 or at the laq crossing to .90 on a long and .10 on a short trade. You will get varying amounts on the 2nd lot sometimes 0 and sometimes 40 to 50 depending upon the market that day. some days you will get alot of trades and some days much less. Very important on the Stop-Loss the spread is built-in to the stop-loss!!
All are welcome to contribute to the thread! This will NOT turn into a managed account or into a box system for public profit. This is for educational and helping fellow traders. FREE!!! If I can make money trading there is no reason for me to sell one to the general public!
Many pips to all!!
My Trading Style
I am a aggresive trader who needs to fill my hyperactive nature by trading alot and trading hard for the 4 to 6 hours I trade per day. This trading style is only for a trader who can take small losses to get small gains and large gains. There will be losses and wins..with Good MoneyManagement you can win in forex!! My strike rate is 60 to 80 percent depending on market conditions for that trading day!
Now the meat and potatoes of the system I employ!
Very simple! I am in the KISS group. Keep it simple stupid! If my nephews and neice can trade it. You know it's a good system already! Take it from me my charts used to look like some pychedlic trip than a trading chart!
INDICATORS
Laquerre with .80 setting
20 and 60 EMA (Exponential Moving Average)
Laquerre levels are .90, .45, and .10
Trading Times
London Open to New York Close however the best time to trade this is the New York and London overlap this is my trading time daily for me I start 2 hours before New York open and trade til London Close. DO NOT TRADE NEWS! EXIT ALL TRADES 30 minutes before major news and reenter market 30 minutes after major news. Use Forex Factories calendar for these events and times.
Trading pairs
1 minute charts
EUR/USD and EUR/JPY
Rules
Enter Long on Laq cross of .10 or enter long on laq cross of .45
Enter Short on Laq cross of .90 or enter short on laq cross down of .45
Best set-up is if price is above 20 and 60 when Laq crosses .10 signal long trade opposite for short trade you want price below 20 and 60 ema to have best short set-up. If a 20/60 ema cross occurs as laq signal short or long means a great trading set-up.
Stop-Loss and Take Profits
Very important! Stop-loss is 8 to 10 pips on the EUR/USD and 10 to 15 on the EUR/JPY depending on the fluidity of the market that day I will use some discretion on my Stop Loss. I take profit as the following. I trade 2 lots. First lot I take proft at 3 pips on the EUR/USD and 5 pips on the EUR/JPY the 2nd lot is now set to exit and 0 or at the laq crossing to .90 on a long and .10 on a short trade. You will get varying amounts on the 2nd lot sometimes 0 and sometimes 40 to 50 depending upon the market that day. some days you will get alot of trades and some days much less. Very important on the Stop-Loss the spread is built-in to the stop-loss!!
All are welcome to contribute to the thread! This will NOT turn into a managed account or into a box system for public profit. This is for educational and helping fellow traders. FREE!!! If I can make money trading there is no reason for me to sell one to the general public!
Many pips to all!!
Attached Image (click to enlarge)
Attached File(s)
posted is the long trade just closed out!!
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