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1M eurusd trading w/ 1 Indicator

  • #1
  • First Post: Oct 5, 2008 12:00pm Oct 5, 2008 12:00pm
Indicator: 13 Simpe MA - Close

S/L: 5 pips + spread

T/P: 3x s/l + 3x spread or 4x s/l + 4x spread

I use 7 pips s/l with a 21 pip t/p

T/S: 10 pips

Long Entrance:

  1. Wait for 13 SMA to give an upward movement.
  2. High of the bar must be above the 13 SMA at the time the 13 SMA moves up, or no trade
  3. Enter the trade 1 pip above the high of the set-up bar
  4. Secondary Exit is when the price after the 1st closed bar has move. below the 13 SMA by 1 pip

Short Entrance:

  1. Wait for 13 SMA to give a downward movement
  2. Low of bar must be below 13 SMA at the time the 13 SMA moves down or no trade
  3. Enter the trade 1 pip below the low of the set-up bar
  4. Secondary Exit is then the price after the 1st closed bar has moved above the 13 SMA by 1 pip

That is the very simple rules to the system....Enjoy

"Keep your eyes on the helpers" - Mr. Rogers
  • #2
  • Oct 5, 2008 12:13pm Oct 5, 2008 12:13pm
Use a little longer TF and you will have better results and less stress...JMHO
Same Whore .... Different Dress
  • #3
  • Oct 5, 2008 12:20pm Oct 5, 2008 12:20pm
Quoting johnedoe
Use a little longer TF and you will have better results and less stress...JMHO
Why is trading stressful for you? It is relaxing for me.

Personally I want my 2% and to be done for the day. 1 M TF gets me there the fastest
"Keep your eyes on the helpers" - Mr. Rogers
  • #4
  • Oct 5, 2008 12:28pm Oct 5, 2008 12:28pm
No stress here...
And I guess if it works for you great....
I make 1 trade a day, no stress, takes longer to start the computer and open the trading platform than making the trade
Same Whore .... Different Dress
  • #5
  • Oct 5, 2008 12:41pm Oct 5, 2008 12:41pm
good system, far from being stressing!
ill try it
{Promotion Removed}
  • #6
  • Oct 5, 2008 1:30pm Oct 5, 2008 1:30pm
Quoting damonl
Why is trading stressful for you? It is relaxing for me.

Personally I want my 2% and to be done for the day. 1 M TF gets me there the fastest
Same for me, but then come the question to myself: why stop at 2%? The day is soo long!
  • #7
  • Oct 5, 2008 2:05pm Oct 5, 2008 2:05pm
Quoting tunera
Same for me, but then come the question to myself: why stop at 2%? The day is soo long!
For me trading is so boring, that I want to do things that are more excintg.
"Keep your eyes on the helpers" - Mr. Rogers
  • #8
  • Oct 5, 2008 3:23pm Oct 5, 2008 3:23pm
Would you mind posting a chart pointing out your setup bar? I don't always see getting that 21 pips at the MA change of direction. The 21 pips is certainly avail with the EURUSD.
How often do you get your 21 pip TP?

Thanks for you contribution.
  • #9
  • Oct 5, 2008 6:43pm Oct 5, 2008 6:43pm
Nice to see you back Damon. I almost thought, for a moment, that you had given up on trading!

Dave
Is it Break Time yet?
  • #10
  • Oct 5, 2008 7:17pm Oct 5, 2008 7:17pm
Quoting dkhinckley
Nice to see you back Damon. I almost thought, for a moment, that you had given up on trading!

Dave
Hey DK......Just took a break from FF, but trading will be my life.

Hope you are doing well.
"Keep your eyes on the helpers" - Mr. Rogers
  • #11
  • Oct 5, 2008 7:22pm Oct 5, 2008 7:22pm
Quoting dvirga
Would you mind posting a chart pointing out your setup bar? I don't always see getting that 21 pips at the MA change of direction. The 21 pips is certainly avail with the EURUSD.
How often do you get your 21 pip TP?

Thanks for you contribution.
So far today I sat down at my computer and took 2 21 pip trades in a row with a 7 pip s/l and 2% risk. This gives me 12% in less than 1/2 hour.

Here is a chart of the trades I took....

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 44 KB


Of course, not every trade would be a winner, but on friday if you made every trade you would have been up 160 pips at the end of the day. With a 2% risk at 7 pips s/l you would have made very nice profit % for the day.
"Keep your eyes on the helpers" - Mr. Rogers
  • #12
  • Oct 6, 2008 1:37am Oct 6, 2008 1:37am
Thank you for this simple system. I have a question regarding the entry

Quoting damonl

Long Entrance:

Wait for 13 SMA to give an upward movement.

Short Entrance:

Wait for 13 SMA to give a downward movement
How do you determine the 'upward' or 'downward' movement? Purely by eyesight or according to the MA values? Thanks
I'm a money magnet! Thank You, Thank You, Thank You!
  • #13
  • Oct 7, 2008 1:50am Oct 7, 2008 1:50am
Good and Simple strategy,how do you determine the 'upward' or 'downward' movement? Purely by eyesight or according to the MA values? Thanks
  • #14
  • Oct 7, 2008 2:22am Oct 7, 2008 2:22am
Do you trade during certain times?

Do you use any filters at all what so ever? follow a bigger trend, anything like that at all?

Also waiting on how you judge the 13 SMA angle

VB,
  • #15
  • Oct 7, 2008 3:25am Oct 7, 2008 3:25am
Damonl,

Thanks, once again, for sharing your ideas. A good blend of cutting losses quickly and letting the stronger momentum trades run, with the 10 pip trailing stop....nice session so far
  • #16
  • Oct 7, 2008 5:25am Oct 7, 2008 5:25am
Hello,

I dont want to sound negative, but I was watching this chart for a few hours now and all of the last 6 signals stoped out with -7. That was euro/london session.
Any comments?
  • #17
  • Oct 7, 2008 5:28am Oct 7, 2008 5:28am
Quoting Dan S
Hello,

I dont want to sound negative, but I was watching this chart for a few hours now and all of the last 6 signals stoped out with -7. That was euro/london session.
Any comments?

I'm having the same problem
  • #18
  • Oct 7, 2008 6:02am Oct 7, 2008 6:02am
Quoting Dan S
Hello,

I dont want to sound negative, but I was watching this chart for a few hours now and all of the last 6 signals stoped out with -7. That was euro/london session.
Any comments?
Yes, i've taken this and adapted it slightly. Increased initial risk/stop based on price action, which is quickly reduced once momentum increases with the 10 pip trail.
  • #19
  • Edited 9:47am Oct 7, 2008 9:11am | Edited 9:47am
Quoting damonl
So far today I sat down at my computer and took 2 21 pip trades in a row with a 7 pip s/l and 2% risk. This gives me 12% in less than 1/2 hour.
I'm not sure I'm quite following your math here ..... how are you getting 12% return using 2% risk in 21 pips?
care to enlighten me a bit on this?

I use 3% and need almost 182 pip to get a 2% return, and that is at 50:1 leverage.......
and @ 1% risk I have a SL of 91 pip.......
Same Whore .... Different Dress
  • #20
  • Oct 7, 2008 9:23am Oct 7, 2008 9:23am
Quoting johnedoe
I'm not sure I'm quite following your math here ..... how are you getting 12% return using 2% risk in 21 pips?
care to enlighten me a bit on this?

I use 3% and need almost 200 pip to get a 2% return, and that is at 50:1 leverage.......
Let's say your bank is £14,000

2% risk is therefore £280

You therefore take a trade with 7 pips SL, risking £40 per pip

You make 21 pips profit, multiplied by 40 = £840

You do this again, making another £840

You have therefore made £1,680 of profit in total, which is 12% of your starting bank of £14,000

Andy
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