PLEASE DO NOT COPY ANYTHING FROM THIS THREAD.IT'S COPYRIGHT. THIS THREAD IS FOR EDUCATIONAL PURPOSES ONLY. TRADING IS A RISKY BUSINESS SO I WILL NOT, NOR CAN I TAKE ANY RESPONSIBILITY FOR ANY TRADERS DECISIONS. NOTHING IN THIS THREAD SHOULD BE TAKEN AS AN ADVICE TO BUY OR SELL ANY INSTRUMENT. I AM ONLY OUTLINING AN APPROACH. IT IS UP TO YOU TO DECIDE WHETHER SUCH AN APPROACH MAY SUIT YOU AND ANY TRADING DECISIONS YOU THEN MAKE ARE YOUR OWN.
!! Please respect this thread and only discuss the trading strategy presented in the first post, thank you!!
Hi guys!
So I have decide to share my new system with all of you, so this way we can help out each other and learn from another's successes and mistakes.
ABOUT ME: I have been trading forex for about two years now and am still learning and improving. I tend to be very impulsive and not stick to my rules, so I will post all my trades here, winners and loosers and teach myself to follow the rules
THE SYSTEM
This system is based on PA but is also combined with some useful indicators. It is used only on 15min TF and has been tested for EURUSD. I am not saying it cannot work on other pairs but this is the one I focus on mostly.
RULES
BUY:
We wait for London open because that's when most of the action starts to happen. We wait for the candle to cross above the EMApredictive and close above it. Lets call this candle "the jumper" We want the next candle to go above the high of the jumper and at the same time we look at the TDI. What we look for is that the RSI Price Line (green line) is above the Market Base Line (yellow line) or is crossing above.
TP and SL can be up to you. I in general put a SL 20pips and move it to BE after 10 pips. TP depends on the PA, it can be from 10pips and up. This is where studying the PA comes in. If we see a bounce of a trendline or a round number we consider exiting, if not we stay in to collect some more pips
INDICATORS
-TDI Red Green
-EMApredictive2.1
-200 EMA
-Market time indicator
!! Please respect this thread and only discuss the trading strategy presented in the first post, thank you!!
Hi guys!
So I have decide to share my new system with all of you, so this way we can help out each other and learn from another's successes and mistakes.
ABOUT ME: I have been trading forex for about two years now and am still learning and improving. I tend to be very impulsive and not stick to my rules, so I will post all my trades here, winners and loosers and teach myself to follow the rules
THE SYSTEM
This system is based on PA but is also combined with some useful indicators. It is used only on 15min TF and has been tested for EURUSD. I am not saying it cannot work on other pairs but this is the one I focus on mostly.
RULES
BUY:
We wait for London open because that's when most of the action starts to happen. We wait for the candle to cross above the EMApredictive and close above it. Lets call this candle "the jumper" We want the next candle to go above the high of the jumper and at the same time we look at the TDI. What we look for is that the RSI Price Line (green line) is above the Market Base Line (yellow line) or is crossing above.
TP and SL can be up to you. I in general put a SL 20pips and move it to BE after 10 pips. TP depends on the PA, it can be from 10pips and up. This is where studying the PA comes in. If we see a bounce of a trendline or a round number we consider exiting, if not we stay in to collect some more pips
INDICATORS
-TDI Red Green
-EMApredictive2.1
-200 EMA
-Market time indicator
Keep up the good work!
