Great GBP/USD Strategy for Swing Trades

Quoting jeffreytp

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I looked back from mid-Nov. 2006 thru now using the strategy chart setup specified in Post # 1. This exit strategy I describe below will cut most losses you would have otherwise incurred using the original exit strategy. In most case where you previously would have lost, now you can actually gain. The occasional drawback I noticed was some of our gains are cut short also, but I will show how to fail-safe this so you can still reap the long terms trends by applying Step # 2 to this exit strategy. So here it is:

Step # 1: Once you enter the trade, observe the 4H chart, if the %k and %d cross before the EMA 4 & EMA 13, close your position at the next candle open. Simple as that. Some discretion may be used as well to obtain best pricing, but stick to the program.

Step 2: If after you exit this trade based on the %k and %d cross, if the %k and %d cross again in the opposite direction, following the existing trend, enter the trade immediately at the %k and %d cross again in the direction of your original entry. ONLY enter a second time (or more times) ONLY IF the EMA 13 and EMA4 have not yet crossed. Finally, exit the trade according to Step # 1 above.

I have not forward tested this technique, but will begin at the next trade entry.

New task, the strategy and Money Management. Sure this strategy works not taking into account drawn down and margin requirements, but should we have in place for protection and risk management.

This SWING trade system seems pomising now...

Jeff

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Quoting okabija

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thanks for sharing your system,

btw, you mentioned that you have 3 system, could you share with us the others system (short term and scalping) ?

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Quoting fratguy

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Hi V,

Are you still holding on to this position? Looks like the upside engery is fizzling out and all throughout the day it has been trading close to the support trendline on the hourly chart. Any thoughts?

Thanks,
Fratguy

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Quoting fratguy

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Hi V,

Guess you were right... glad I listened to you, .

Thanks,
Fratguy

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Quoting VyNNeR

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Dear all traders,

Things you need:
1) Daily Chart on GBP/USD
2) 4 hours Chart on GBP/USD
3) Slow Stochatics (13,5,5) on both charts
4) EMA 4, EMA13, EMA50 on the 4 hours chart


VyNNeR

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Quoting jeffreytp

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I need to double check one thing. Regarding the EMA's, what price do you apply them to: OPEN, HIGH, LOW, CLOSE?

Thanks,

Jeff

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Quoting VyNNeR

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Dear jeffreytp,

price is close.

VyNNeR

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Quoting gman29

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Any chance of someone having the indicators set up already and able to post them as an mt4 or ea?

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Quoting blueruby

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Here's a quick and dirty indicator. It only checks for 4 EMA (4 hr. close) above/below 50 EMA (4 hr. close) and Stoch daily 13,5,5 above/below signal line. If both are above or both are below it gives an alert.

Doesn't matter what chart TF it's attached to, it goes as above.

You can turn on the sound &/or email alert.

I haven't really tested it except it works on the condition right now, so use at your own risk. It's only to help alert you to a possible setup so you don't have to stay glued to the tube.

Hope it helps ya.

Oops, forgot to attach. Edit doesn't let you.

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