This is one of the ways i`ve been trading for about 4yrs, not sure why some people are being so negative about it, you are simply using the high of the previous bar as your entry and taking some pips.
My set up is this:
1hr candles
14 sma
Direction of the sma determines buy or sell, if the sma is pointing up we look for buy set ups, opposite for shorts. Once the current candle closes we simply use the next candle to push through the high for a long entry, as long as the previous bar was bullish and the sma was up, opposite for shorts using the low of the previos bear candle.
Thats it, it was a system used by a trader called shiraz, i think i got around 02/03 time, the formula was called CTF ( champion trader formula), like i said, not my normal stratergy but it works pretty well for a few pips.
Gez
My set up is this:
1hr candles
14 sma
Direction of the sma determines buy or sell, if the sma is pointing up we look for buy set ups, opposite for shorts. Once the current candle closes we simply use the next candle to push through the high for a long entry, as long as the previous bar was bullish and the sma was up, opposite for shorts using the low of the previos bear candle.
Thats it, it was a system used by a trader called shiraz, i think i got around 02/03 time, the formula was called CTF ( champion trader formula), like i said, not my normal stratergy but it works pretty well for a few pips.
Gez
Seek not to change the world; seek only to change your mind about the world