Ronnierott's 1 Hour Strategy | Forex Factory

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Attachments: Ronnierott's 1 Hour Strategy
Exit Attachments

Ronnierott's 1 Hour Strategy

  • #1
  • First Post: Edited May 15, 2011 3:59pm Feb 22, 2011 9:22pm | Edited May 15, 2011 3:59pm
Well here goes.

This is a strategy that I use with great success, but before we go any further I'd just like to say...

THIS IS NOT THE HOLY GRAIL!!!

It DOES NOT exist and never will. All you can do is to find something that gives you the edge.

Right, that's that over with so lets move on.

In this first post I'll get the chart set up and hopefully later today post the entry exit rules etc etc.

Attached is a MACD, upload to a chart along with:-

50 EMA applied to HIGH
50 EMA applied to LOW
15 EMA applied to CLOSE.

Change the MACD parameters to read 35,70,1,12

It should now look something like this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen1.jpg Size: 145 KB
Attached File(s)
File Type: mq4 Macd-with-EMA.mq4   5 KB | 10,067 downloads
File Type: mq4 RonnieSignals v3.mq4   13 KB | 4,774 downloads | Uploaded May 14, 2011 10:32am
File Type: mq4 RonnieRott's by JuBu v3.mq4   27 KB | 4,615 downloads | Uploaded May 14, 2011 10:33am
File Type: pdf Ronnierott EA details by Jubu.pdf   125 KB | 7,848 downloads | Uploaded May 15, 2011 3:58pm
  • #2
  • Feb 23, 2011 6:21am Feb 23, 2011 6:21am
done, waiting for the entry exit rules
  • #3
  • Feb 23, 2011 9:32am Feb 23, 2011 9:32am
I'll demo you're idea for a bit and see what happens. Awaiting instructions.
  • #4
  • Edited Feb 24, 2011 4:49am Feb 23, 2011 11:33am | Edited Feb 24, 2011 4:49am
Ok, I'll try and explain this in as easy a way as I can.

The currency pairs that I personally use are:-

GBP/USD
EUR/USD
GBP/JPY
USD/CHF

Trading these 4 pairings has averaged approx 180 pips per week.

I do not know about other pairings performance.

I usually only look for trade setups between the hours of 0600 to 1800 GMT

So, the theory is that entries are made off the 15 EMA.

RULE 1. The MACD has to be the right colour for the direction of the trade and the MACD MA must be within the coloured area. (See image below)








RULE 2. When the price hits the 15 EMA & bounces off or goes through the 15 EMA and reverses back it's a trade AS LONG AS:-

The high/low of the setup candle is NOT more than 50 pips away from the 15 EMA (30 for G/J & U/C) AND the 15 EMA is not within the 50 EMA channel. (See image below)






Entry is then 10 pips above/below the high/low of the setup candle. (Add spread for long trades)

Stoploss 100 pips

Takeprofit 100 pips

Go to breakeven when +50

If pending order is not activated and price goes the other way and closes above/below 15 EMA -- Cancel order and wait for next setup.

RULE 3. DO NOT TRADE WHEN THE 15 EMA IS INSIDE OR VERY CLOSE TO THE 50 EMA CHANNELS.

Hope this makes sense. Feel free to ask questions.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen2.jpg Size: 142 KB
Click to Enlarge Name: Screen3.jpg Size: 159 KB
  • #5
  • Edited 3:25pm Feb 23, 2011 12:09pm | Edited 3:25pm
I'll try and post setups as I see them through the day.

Here's one for the EUR/USD.

1000 GMT

High 1.3721

Entry 1.3731

+50 pips @ 1500 GMT Move stop to B/E

Trade currently +17
Attached Image (click to enlarge)
Click to Enlarge Name: screen4.jpg Size: 128 KB
  • #6
  • Edited 3:26pm Feb 23, 2011 12:16pm | Edited 3:26pm
Here's another one.

USD/CHF

1100 GMT

Low 0.9363

Enter 0.9353

Currently +20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: screen5.jpg Size: 140 KB
  • #7
  • Feb 23, 2011 12:19pm Feb 23, 2011 12:19pm
sorry, but i can not see any chart
  • #8
  • Feb 23, 2011 12:22pm Feb 23, 2011 12:22pm
Quoting Jordi
sorry, but i can not see any chart
Yeah, I'm not seeing any either. Thought at first it was probably my computer, but now that other people are having the problem.............
  • #9
  • Feb 23, 2011 12:25pm Feb 23, 2011 12:25pm
They seem to be showing ok on mine.

Here's attachments instead.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screen4.jpg Size: 128 KB
Click to Enlarge Name: screen5.jpg Size: 140 KB
Click to Enlarge Name: Screen3.jpg Size: 159 KB
Click to Enlarge Name: Screen2.jpg Size: 142 KB
Click to Enlarge Name: Screen1.jpg Size: 145 KB
  • #10
  • Feb 23, 2011 12:32pm Feb 23, 2011 12:32pm
Quoting Nate04
Yeah, I'm not seeing any either. Thought at first it was probably my computer, but now that other people are having the problem.............

Unable to see the original charts either
  • #11
  • Feb 23, 2011 12:44pm Feb 23, 2011 12:44pm
Apologies,

Have just got my head round posting charts here.


Right, my previous post has all the charts.

For post # 1 refer to my previous post chart 5
For post # 4 refer to my previous post charts 4 & 3
For EUR/USD setup refer to previous post chart 1
For USD/CHF setup refer to previous post chart 2

Hope that makes sense
  • #12
  • Feb 23, 2011 1:22pm Feb 23, 2011 1:22pm
Hi, thanks for sharing this with others. May I ask, how long have you averaged 180 pips per week? Do you trade this on a live account? Thankyou
  • #13
  • Feb 23, 2011 1:27pm Feb 23, 2011 1:27pm
Quoting stricky1967
Hi, thanks for sharing this with others. May I ask, how long have you averaged 180 pips per week? Do you trade this on a live account? Thankyou

Have been monitoring for ages and live since Nov 10.
  • #14
  • Feb 23, 2011 1:34pm Feb 23, 2011 1:34pm
Thanks, I like the look of this.
  • #15
  • Feb 23, 2011 1:42pm Feb 23, 2011 1:42pm
Quoting stricky1967
Thanks, I like the look of this.

The beauty of this strategy is that when the market is moving in a sideways movement you'll find that the 15 EMA is too close to or within the 50 EMA channel which will then keep you out of a trade.

And when the market is trending, well, happy days.
  • #16
  • Feb 23, 2011 2:18pm Feb 23, 2011 2:18pm
Looks good. Going back looking at the recent charts there are a stack of entries where this would work, and in some cases work quite well.

Ill keep following.
  • #17
  • Feb 23, 2011 2:24pm Feb 23, 2011 2:24pm
Quoting ronnierott
The beauty of this strategy is that when the market is moving in a sideways movement you'll find that the 15 EMA is too close to or within the 50 EMA channel which will then keep you out of a trade.

And when the market is trending, well, happy days.
Yes, that's what I thought, it's the choppy times that are the killer with trend continuation methods, looking forward to getting this set-up.
  • #18
  • Feb 23, 2011 3:07pm Feb 23, 2011 3:07pm
A quick look at the charts is looking good for some potential setups for the morning. All 4 pairings are taking shape.

I must admit though, if I have a trade on, I don't tend to put another one on the same currency pairing until the first one has gone to +50 and is then at B/E.

So as we speak, if another setup occurs on the EUR/USD then I'll put it on. But if a setup occurs on USD/CHF then I'll wait until todays trade gets to +50 and hence B/E.
  • #19
  • Feb 23, 2011 3:46pm Feb 23, 2011 3:46pm
System sounds good I think I will follow this one
Patience and peserverance determine the outcome in any aspect of life.
  • #20
  • Feb 23, 2011 3:54pm Feb 23, 2011 3:54pm
Quoting forexgold
System sounds good I think I will follow this one

Forexgold,

As the title of your post says "Nice & simple" ----- Just the way I like it.

Have tried strategies where the whole screen is cluttered with indicators - didn't work for me.

With this strategy screentime is minimal and it's so simple..
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