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Profits

  • #1
  • First Post: Aug 11, 2008 4:19pm Aug 11, 2008 4:19pm
Hey Guys,

I have developed a trading strategy of simple Moving Average crossover confirmed by RSI (Relative Strength Index). Most trades I automaticall go for 30 pips trading a 1 hour chart. I have been quite succesful but I get frustrated watching all of those pips continue in my direction after i am stopped out at 30 pips. But if I strictly follow my trading strategy I must wait until the next Moving Average Crossover to enter another trade.

Does anyone out there have a strategy to catch those extra pip movements?

http://forums.babypips.com/images/misc/progress.gif

  • #2
  • Aug 11, 2008 8:08pm Aug 11, 2008 8:08pm
Quoting Wealthyman
Hey Guys,

I have developed a trading strategy of simple Moving Average crossover confirmed by RSI (Relative Strength Index). Most trades I automaticall go for 30 pips trading a 1 hour chart. I have been quite succesful but I get frustrated watching all of those pips continue in my direction after i am stopped out at 30 pips. But if I strictly follow my trading strategy I must wait until the next Moving Average Crossover to enter another trade.

Does anyone out there have a strategy to catch those extra pip movements?

http://forums.babypips.com/images/misc/progress.gif

How about taking 2 positions...close the first one at 30 pips...move the stop to breakeven on second position and let it ride...

Are you planning to share your strategy here?
  • #3
  • Aug 12, 2008 12:15am Aug 12, 2008 12:15am
More details is like this.

This works for me, open 0.20 lot, close 0.10 lot at first TP 25. Then move the SL to breakeven +1, then trail it wif 20pips..... Juz tat simple.
  • #4
  • Aug 12, 2008 7:43am Aug 12, 2008 7:43am
Thanks guys,

My strategy is a 7 period simple average crossover of a 21 period. RSI must be above 50 to go long and below to go short. I also confirm with MACD heading in my direction. When these indicators all say the same thing I am in for the 30 pips
  • #5
  • Aug 12, 2008 9:53am Aug 12, 2008 9:53am
fyi, the MACD IS a moving average cross indicator. so youre really just confirming your original signal with the same moving averages. sort of redundant.
  • #6
  • Aug 13, 2008 7:13am Aug 13, 2008 7:13am
That's True Blacksun1 - Is there another indicator you would suggest to confirm a trend besides MACD?
  • #7
  • Aug 13, 2008 7:28am Aug 13, 2008 7:28am
Quoting Wealthyman
That's True Blacksun1 - Is there another indicator you would suggest to confirm a trend besides MACD?
pattern of higher lows may be a good tool.
  • #8
  • Last Post: Aug 13, 2008 5:38pm Aug 13, 2008 5:38pm
a long term ADX would be good. bring it out to like 20-30 periods
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