1 hour system

I RECOMEND EVERYONE TO MASTER THIS STRATEGY ON DEMO BEFORE TRADING LIVE!


Hello traders.

I'm going to post a picture of my last trade. Show you when I enter, when exit.
If some of you like what you see just post here and if there will be enough people asking for details of this system I'll post basics. If than you will be interested i'm gonna tell you all details - best time to enter, when not to enter etc.

ATTENTION TRADERS!
You can use this strategy on 4 hour time frame as well! Just backtest strategy first and see if there is anything you can make better!
I'm starting to use this strategy on H4 cuz it's really hard to catch entery signals if you're not in front of your screen all day! Rules are the same.

INFO

http://www.forexfactory.com/showpost...16&postcount=8 - when enter
http://www.forexfactory.com/showpost...2&postcount=13 - where to place stoploss
http://www.forexfactory.com/showpost...1&postcount=19 - how to take profit
http://www.forexfactory.com/showpost...4&postcount=22 - some trade examples
http://www.forexfactory.com/showpost...1&postcount=25 - how to escape many false signals
http://www.forexfactory.com/showpost...2&postcount=26 - watch out!

ENTER-blue - 2009.07.30
EXIT-red - 2009.08.03
+430pips
GBP/USD

If you lose something I'm not responsible for your losses! Use and upgrade this strategy at your own risk!

Regards

That looks owesome, looking forward for more information about your system

hi there, I like the pip amount . What made you enter to that trade?

Thanks for your help by the way.

Have been wanting a longer time frame system as I think it would be a little less risky. Thanks for starting the thread. Waiting for more. Spider

I'm going to post a picture of my last trade. Show you when I enter, when exit.
If some of you like what you see just post here and if there will be enough people asking for details of this system I'll post basics. If than you will be interested i'm gonna tell you all details - best time to enter, when not to enter etc.

Give it up big boy, you know yea wana.!

I'm interested....please share. Thanks.

This is the question here. It is nice to have it in back look. Lets see if you can give us sometnig interestinf for the forward look?!?!
Sasa

So basics. I use two 34 EMA's - apply to high and low.
And 5 EMA apply to close. When 5 EMA crosses both 34 EMA's like in my first post we go long/short.

If you still want to know how to escape false signals , take profit/stop loss and some other things keep showing me that I won't spend my time for nothing

Regards

Another tunnel system?

more like MA's cross system

just shows the river trade works,

Keep the info coming trader100..

The wise man know's what he does'nt know

Stoploss.

There are 2 ways how I place my stoploss.
1)Previous swings low/high. Usually this stoploss isn't big but it's hit too often. I use this stoploss only if stoploss is very big
2)Second low/high. This stoploss is bigger but it isn't hit too often.

See picture.

Is this enough or you still want to know how I take profit and escape many many false signals?

Regards

Forgot to say that my EUR/USD profit got hit today.
+150 pips

Blue - ENTERY
Red - EXIT
Regards

Keep it coming!

Hi Trader,

Thanks for sharing!

How do you determine your Take Profit target?

T100 tell us more about escaping false signals,

Danny

hi all will jus tag along c wat happens here

Hello traders!

Before I can tell you how to escape false signals I have to tell you how to take profit 'cuz if you don't know how to take profit, you cannot escape false signals.

So first of all we're going to use fibonacci levels as profit targets. Not Fib expansion levels but Fibonacci retracement levels.
The levels I use are:
100.0 %
161.8 %
200.0 %
261.8 %

So lets talk about the trade in my first post.
First of all we enter a trade when 5 EMA crosses 34 EMA's.
ENTER TRADE ONLY ON CLOSED CANDLE! WHEN CANDLE CLOSES 5 EMA MUST BE BELOW/ABOVE 34 EMA's.

1. profit target - 161.8 %
2. profit target - 200.0 %
3. profit target - 261.8 %

As profit target I use 261.8 % level but sometimes it's not hit.

1. picture - when enter trade
2. picture - how to draw fibo
3. picture - how to exit trade

On third picture by ''we have to look for nearest support/resistance level'' I mean that if we go long we have to look for nearest resistance level that is above ENTER candle. If we go short we have to look for nearest support level that is below ENTER candle.
If this doesn't make any sence just say and I'll try to explain it in more detail.

Shall I keep going and say how to escape some false signals?
Regards

Yes, I would like to know, since false signals are the
most difficult thing I deal with in live trading.

Rob