Hanifis SPAS

Hello everybody!
First of all I am no native english speaker, so please excuse me, if my explanations causes misunderstandings!!

But it should not because, after searching long like anybody else, i saw clearly keeping it simple is the best method. So i created my own method of trading. I dont know if this kind of trading already exist or not. So i called it my own Simple Price Action System.(SPAS).

THE RULES
Entry: Go Long If a green candle closes over 8SMA, and the next candle breaks the high of this candle!
For short vice versa!

SL: Low of the signal candle

TP: Move your SL always to the low of next candle till you are stopped out or if you get an new signal.
you can also use a trailing stop.

Trading Hours: Only between 700-1800 gmt

TF: 5m

Thats it. Ill show a few examples in the next posts!

These are the trades of today.

thanks for your kindness, much appreciated two questions

how long have you been trading this? what have the statistics been like?

Your trading strategy is simplicity itself and makes some sense to me. Do you trade this only on EUR/USD?

Thanks for sharing.

Gosh, this thread is already almost 2 hours old, and Ronald Raygun hasn't made an EA for it, yet! LOL

Hmmm...or at least I don't think he has...maybe I'm wrong Ronald (I see you are following this thread)?

It's hard to sneak around, isn't it?

I'm waiting to see his solution for whipsaw.

A longer SMA would seem more sensible, there will still be whipsaws but less of them, and a longer SMA will result in a 1 or 2 candle delay in getting in on a trend, but I think the winning percentage would be far higher

go ron , go ron !

A longer SMA doesn't automatically fix the problem.

Example, slap a 200SMA onto any chart. Watch the price as it approaches that SMA.

The main problem I see here is what's stopping the 2nd bar which breaks the high from being a reversal? Let's say the first bar crosses the SMA, then the next bar breaks the high of the first bar, and closes below the SMA. The bar after that generates a new signal, the previous trade is closed. I think I see that happening at least 8 times in the example chart given.

 

1. March 12 at 7:10
2. March 12 at 7:15
3. March 12 at 7:20
4. March 12 at 7:50
5. March 12 at 8:15
6. March 12 at 8:20
7. March 12 at 8:35
8. March 12 at 8:40
9. March 12 at 9:45
10. Match 12 at 10:45

Fix that problem, and you can all expect an EA coming.

Hi Ron!
i know that the whipsaws are a problem, but the losses in all these cases are small, but you see we catched 3 good moves and the day is positiv.

Thank you!
yes i trade eurusd, because of small spread. But i think you can use it for every pair with small spread.

These are the remaining trades of today!