Nice and simple trades. mainly 5min eur/usd line breaks. looking for 20-25pips usually. risk 5-20 pips.
Heres one i just entered
##edit: 04/01/12. currently learning Martin Coles 'market maker method'. trades will prob be a mixture now of my method and martins. Also, trying to decide whether to only trade in the direction of the 50ema or not. working progress.
###edit: 11/01/12. Now using rsi set to 9 and line breaks. done away with the 50 ema as it proved pointless. Looking for divergence on rsi chart. if divergence found then i only look for reversal of trend then a pull back and then a line break. if no divergence then i only look for continuation of trend line breaks following a retrace. Hope that makes sense. At the moment using this system is increasing my account by about 2% a day. I cant trade every day but i am looking for about 5% a week on average. i know some weeks i will make a loss so it nice to have weeks where i am up 5-10% as this will help my average. Trading only Eur/Usd on the 5min chart with no looking at higher timeframes. take-profit is set at 25pips but i sometimes just close if i feel it is not really happening. stop is set at 15 but i often make it larger in order to put it somewhere more sensible away from stop-hunters. Thats it for now. very simple, very easy, making me money. still learning so this may be edited again in future.
####edit: 08/03/12. 4hour chart with a 25sma gives me direction for trades. eg, price above 25sma i only look for longs following a trendline break on the 5min. 2 lots. lot 1 close at +20pips. lot 2 trail for as much as i can.
Heres one i just entered
##edit: 04/01/12. currently learning Martin Coles 'market maker method'. trades will prob be a mixture now of my method and martins. Also, trying to decide whether to only trade in the direction of the 50ema or not. working progress.
###edit: 11/01/12. Now using rsi set to 9 and line breaks. done away with the 50 ema as it proved pointless. Looking for divergence on rsi chart. if divergence found then i only look for reversal of trend then a pull back and then a line break. if no divergence then i only look for continuation of trend line breaks following a retrace. Hope that makes sense. At the moment using this system is increasing my account by about 2% a day. I cant trade every day but i am looking for about 5% a week on average. i know some weeks i will make a loss so it nice to have weeks where i am up 5-10% as this will help my average. Trading only Eur/Usd on the 5min chart with no looking at higher timeframes. take-profit is set at 25pips but i sometimes just close if i feel it is not really happening. stop is set at 15 but i often make it larger in order to put it somewhere more sensible away from stop-hunters. Thats it for now. very simple, very easy, making me money. still learning so this may be edited again in future.
####edit: 08/03/12. 4hour chart with a 25sma gives me direction for trades. eg, price above 25sma i only look for longs following a trendline break on the 5min. 2 lots. lot 1 close at +20pips. lot 2 trail for as much as i can.