KISS Method - Thoughts

I've been using a simple technical method to trade all major pairs. I call it the KISS (Keep-It-Simple-Stupid) Method.

5 - EMA, close
13 - EMA, close
62 - EMA, close
RSI - Period 14, close
Trend-lines using TF 30, H1, H4, W1

Buy
5 above 13, 13 above 62, candles bouncing off of support, RSI above 60.

Sell
62 above 13, 13 above 5, candles bouncing off of resistance, RSI below 40.

Stops
Always, but I shift them to protect profits.

Currency Pair
All majors but I prefer GBP/USD

Risk Ratio
1:3

Money Management
No More than 2% of capital on one trade

With all due respect, inside bar is simpler and more profitable, IMHO.

http://i44.tinypic.com/2055ph5.gif

Please can you explain how you trade the IB breakout on the hour chart?
What is the SL and TP? Thanks

You enter the trade at the line.

SL? TP? Nothing set in stone. SL - If trade is not going your way, exit. You can always enter again. TP - sometimes all you can take is a little, sometimes you can take a lot.

Notice where it says "sell". At this point, I closed my long position and entered a short position. I've since closed all positons and grossed a little over $1400 on the short position. I entered this morning and exited about 2mins ago. I love the forex market! It took me about 5mins of reading charts and setting myself up...

looks like a great trade & method

How many trades do you make per day with this system?

awww somebody is hijacking this thread!

It is a simple but profitable system.

J

Depends.... Sometimes I will go a week before getting into a trade or exiting. Other times, I will enter/exit at least twice in a day. I watch all majors but prefer gbp/usd.

Either way, no rush on my end. The trades will come.

J

I thought, I would give you one last snap shot. A lot of things are going on in this chart. First, you may notice that gbp/usd broke my support trend-line. That is okay - I am watching for a new set-up. I am keeping my eye on the RSI plus the three ema's. It could be a waiting game prior to entering into a position. That's okay - I do not want to be rushed (I am also watching several other pairs with different systems). Notice the graph below. It is the same graph as above but with additional comments. Nothing is hidden. Try to study the graph, trend-lines, ema's, & the RSI. You will see that things are very consistant. At least to me. Finally - trade a system that works for you. This one floats my boat....

PM me if you want to swap ideas or share your thoughts. Positive or negative...it's all fun.

Cheers
J