Attachment UPDATE: Two contributors donated thier time and expertise to help out the thread by simplifying the system even further. BARBOSA on post 87 added filters to LESSOSIGNALLINE, and EASY RYDER on post 121 created a new indi worth looking at called LessoSignals....Both are worth taking a peek at, Im experimenting with both. Thanks to both of you, I and Im sure other appreciate the help.
UPDATE: WE ARE NOW USING ZERO LAG MACD INSTEAD OF MACD DEMA. THIS PROVIDES US WITH BETTER SIGNALS AND WORKS IN CONJUCTION WITH THE LESSO SIGNALS INDI FOUND IN POST 187, CREATED BY CONTRIBUTOR EASY RYDER.
Hello all, just thought I might share a system I have been trading for a little while now. Im sharing for two reasons, so that newbies can take an uncomplicated system and actually make a profit on it and also to see where the lovely people here at FF can improve upon it. Read improve upon: doesnt mean to complicate, add a bunch of indicators, completely confuse everyone etc... in fact I would ordinarily not use many indicators in my day to day trading, but i was playing around a while back and I found that this system has merit. With clearly defined entries, stops, money management, and risk management I think any disciplined noob could trade this way and turn a profit. But we will see, wont we?
Now to the system....because this is the part of the thread where the op tells you who they are and how long they've been trading, blah blah blah nobody cares.
ENTRIES: EU-M1 TF
These are the same for buys and sells...
1. ZERO LAG MACD will usually cross first, this is the early warning.
2. VQ will usually change color next, this is our get ready.
3. Price crosses and closes on the opposite side of the 20EMA...this is GO......
A. The offending candle then becomes our starting point..no entry is made yet.
B. We use a limit order with a buffer to enter. This way the market brings us in on its own momentum, and we avoid some of the whipsaws that are associated with moving average cross over systems.
1)Bufferfor buy: 2 pips plus spread above the offending candle
2)Sl for buy: 1 pip below the offending candle.
3)Buffer for sell: 2 pips plus spread below the offending candle
4)Sl for sell: one pip above the offending candle
OK..entries and stop losses are covered...now for....
MONEY MANAGEMENT:
The old money management thing.....this is where it can go completely wrong for you, no matter what system you use. It doesnt have to be overly complicated either this is how I have used it and it may seem simple, but Im an uncomplicated type of fella. I trade one currency, one trade at a time, basically looking at one timeframe, the zoomed out M1 charts you will see. This makes managing my trades very simple and takes the most stress out of my day that i can. Now on to what I do to manage my money (trades)....
1. I strictly adhere to my stop losses....they usually arent that large to begin with so even if they are hit Im not hurt. Never move your Sl when the trade is going against you, never.
2. I take some profit off of the table when the trade goes my way, this means for me closing half of my trade after a 1:1 risk to reward ratio is hit, moving the remaining unit's stop to BE and enjoying my free trade. See? Friggin Simple, right?
3. I never risk more than one percent of my account on any trade...ever.
4. I typically will trade only with the trend...not a hard and fast rule, but usually a good guideline.
5. Number five is important...never overtrade, try to get revenge after a loss, or have to talk yourself into a trade that isnt there, take the obvious ones and be happy that you are a disciplined trader.
OK, now here's the restrictive part of the thread, gonna use some rules to keep the thread clean and safe for everyone.....
RULES
1. READ THE THREAD BEFORE YOU ASK QUESTIONS....you will only be warned once.
2. BE RESPECTFUL...period...you are adults
3. Constructive criticism only..."Dude, your system is stooopid!" is not constructive
4. POST YOUR TRADES...preferably when you take them, not 10 hours from now.
thats all I really have....heres some charts and indicators....
UPDATE: WE ARE NOW USING ZERO LAG MACD INSTEAD OF MACD DEMA. THIS PROVIDES US WITH BETTER SIGNALS AND WORKS IN CONJUCTION WITH THE LESSO SIGNALS INDI FOUND IN POST 187, CREATED BY CONTRIBUTOR EASY RYDER.
Hello all, just thought I might share a system I have been trading for a little while now. Im sharing for two reasons, so that newbies can take an uncomplicated system and actually make a profit on it and also to see where the lovely people here at FF can improve upon it. Read improve upon: doesnt mean to complicate, add a bunch of indicators, completely confuse everyone etc... in fact I would ordinarily not use many indicators in my day to day trading, but i was playing around a while back and I found that this system has merit. With clearly defined entries, stops, money management, and risk management I think any disciplined noob could trade this way and turn a profit. But we will see, wont we?
Now to the system....because this is the part of the thread where the op tells you who they are and how long they've been trading, blah blah blah nobody cares.
ENTRIES: EU-M1 TF
These are the same for buys and sells...
1. ZERO LAG MACD will usually cross first, this is the early warning.
2. VQ will usually change color next, this is our get ready.
3. Price crosses and closes on the opposite side of the 20EMA...this is GO......
A. The offending candle then becomes our starting point..no entry is made yet.
B. We use a limit order with a buffer to enter. This way the market brings us in on its own momentum, and we avoid some of the whipsaws that are associated with moving average cross over systems.
1)Bufferfor buy: 2 pips plus spread above the offending candle
2)Sl for buy: 1 pip below the offending candle.
3)Buffer for sell: 2 pips plus spread below the offending candle
4)Sl for sell: one pip above the offending candle
OK..entries and stop losses are covered...now for....
MONEY MANAGEMENT:
The old money management thing.....this is where it can go completely wrong for you, no matter what system you use. It doesnt have to be overly complicated either this is how I have used it and it may seem simple, but Im an uncomplicated type of fella. I trade one currency, one trade at a time, basically looking at one timeframe, the zoomed out M1 charts you will see. This makes managing my trades very simple and takes the most stress out of my day that i can. Now on to what I do to manage my money (trades)....
1. I strictly adhere to my stop losses....they usually arent that large to begin with so even if they are hit Im not hurt. Never move your Sl when the trade is going against you, never.
2. I take some profit off of the table when the trade goes my way, this means for me closing half of my trade after a 1:1 risk to reward ratio is hit, moving the remaining unit's stop to BE and enjoying my free trade. See? Friggin Simple, right?
3. I never risk more than one percent of my account on any trade...ever.
4. I typically will trade only with the trend...not a hard and fast rule, but usually a good guideline.
5. Number five is important...never overtrade, try to get revenge after a loss, or have to talk yourself into a trade that isnt there, take the obvious ones and be happy that you are a disciplined trader.
OK, now here's the restrictive part of the thread, gonna use some rules to keep the thread clean and safe for everyone.....
RULES
1. READ THE THREAD BEFORE YOU ASK QUESTIONS....you will only be warned once.
2. BE RESPECTFUL...period...you are adults
3. Constructive criticism only..."Dude, your system is stooopid!" is not constructive
4. POST YOUR TRADES...preferably when you take them, not 10 hours from now.
thats all I really have....heres some charts and indicators....
Attached Image(s) (click to enlarge)
Attached File(s)
