New profitable System - Sidus

That is what got this whole thing started.

This link is the link to my journal. That is what fits me best. Others are using other things.

http://www.forexfactory.com/forexfor...ead.php?t=7050

What is the WMA?

Weighted Moving Average

it is just a differant form of an MA

EMA
Exponential Moving Average

Hi Fellow Forex Traders.

Although I am new to this site, I am not new to this system and have traded it successfully for a long time. This system is the best system I have ever traded and it brings me excellent daily results.

My system is the basic system, simple and easy without the pivots and fibs. I have the same set up as renasdad, with one exception. I don't have the luxury of the 4 hour charts to view. Knowing that my setups are easy, I can then concentrate on more currency pairs to watch.

I have www.fxsol.com for a broker which with the new AccuCharts, I can easily watch 20 currency pairs. The only downfall is that I do not have 4 hour charts that I can watch and I make up for it by having a 15 minute, 30 minute and hourly charts. (20 currency pairs X 3 time frames = 60 charts I flip thought with ease using my computer mouse).

When I started out with this system, I watched my favorite currency pair, the EUR/USD. Once I understood what made the pair move, when it moved, the daily average range, etc... and I felt comfortable with it, I started watching a second currency. I worked myself up to 20 currency pairs.

I scan all 20 currency pairs and jump in when all three of my timeframes (15 min, 30 min and hourly charts) are about to converge at the 21 RSI.. 50 line and has successfully crossed it while also looking at the 5/12 crossover and 18/28 convergence tunnels. To prevent confusion, I have an index card with the steps I need to do and the order I need to do them in when I have a possible trade. That way, I don't forget anything.

I must use trailing stops which helps me when I have more than 2 currencies to trade at one time. If I am away from the computer at any time, I will not leave my trading station until trailing stops are set. The forex has a nasty way of moving a hundred pips in the opposite direction during the time it takes you to answer the phone if your not careful. The most currencies I trade at a time can be up to 10. Anymore than that, I am asking for trouble, especially around news time.

Once you have used this sytem with one currency pair and feel that you understand it and can trade it successfully, consider watching a second currency pair and so forth.

I did use pivot points and fibs as a test, but they took way too long to set up and prevented me from watching my charts. I doubt if they could make me anymore pips if I did use them. I went back to the simple basic setup and have not deviated since.

My currency pairs that I watch on a daily basis are:
AUD/CAD AUD/JPY AUD/NZD AUD/USD CAD/JPY CHF/JPY
EUR/AUD EUR/CAD EUR/CHF EUR/GBP EUR/JPY EUR/USD
GBP/CHF GBP/JPY GBP/USD NZD/JPY NZD/USD USD/CAD
USD/CHF AND USD/JPY.

I have a spiral 5" x 8" Ruled Index Cards that has important notes relating to my trading. I suggest that you purchase one too. Get to know the currency pairs, trading times, news times, daily average ranges, which pairs work in conjunction with each other and reverse also.

Ever heard of the term, "Knowledge is Power"? ... In the forex, "Knowledge is Money".

Good luck trading and remember, no question is dumb. At one point, everyone of us did not even know what the word "forex" even meant.

Tick,

How do you use the 15 min and 30 min to make your trade on 1 hr charts?

In reference to your question "How do you use the 15 min and 30 min to make your trade on 1 hr charts?", what I do is to watch the 15 min, 30 min an hourly chart. Usually, the 15 min chart will have a crossing before the 30 min and hour chart at the RSI 21...50 line. I then check and wait for the 30 min line to cross, followed by the hourly cross at the RSI 21...50 line.

When all three cross, I verify by watching the EMA 5/12 cross each other and look for a crossing or a narrowing of the 18/28 RSI also. When all three move at the same time, I feel comfortable in jumping in, or out of my move.

Anotherwords, the 15 minute movement at the 50 tells me to start watching the 30 minute and then check the hourly chart also. I call my 15 minute and 30 minute charts, my primer charts.

As in drag car racing... here is the way I look at it:
15 minute chart line crosses the RSI 21... 50 line
"Dragster approaches the line to drag race"
30 minute chart line crosses the RSI 21... 50 line
"Dragster then spins his tires getting traction awaiting the green light"
Hourly chart line crosses the RSI 21... 50 line (along with ema 5/12, 18/28 convergences.
"Dragster takes off at green light and races toward the win"

Does this make sense to you?

CT
they rev up the engine for the big movement...which is the entering of the trade. If all three cross, I am in.... not one out of three nor two out of three... all three timeframes must agree.

Chck out a test of all three time frames... and you will see the difference in jumping in when all three time frames agree for entry of a trade.

Please let me know what you think.
Tick

I do understand what you are saying. Wouldn't all three happen though if the 1 hr happens? Once you get both crosses on the 1 hr, wouldn't we know that the crosses happened on the 15 and 30? Or do you use the 15 and the 30 to get yourself ready for the 1 hr?

Keeping in mind that all three charts would not be in unison in reference to time, the 15 minute would show the possibility of a movement before the 30 minute and hourly chart. The 15 usually crosses before the other two time frames.

There are at times when they will not totally agree and maybe off by 30 minutes.... but I do watch the 15 minutes which prepares me for the 30 minute to move only on the hourly chart.

The reason why I don't move on the 15 minute chart which usually crosses the RSI 21... 50 mid line first is because the 15 minute is like an ocean wave, it can cross the RSI 21... 50 line and you would assume that it is profit time and wham, it will return under the RSI 21... 50 line and you lost pips.

Hope this give you a better understanding.

Tick

Yuppers. I understand now. Thank you.

How long have you been trading this way? Do you find some pairs to be better than others?

One thing I do is to keep the SUP and RES lines on the hourly charts and will not enter a trade if the price has possibility of turning back at these levels. It happenned on the CAD yesterday when a signal was repulsed by the RES level. Todays GBP is nearing one now.

This is my chart for the EUR/JPY... Easy to understand. Keep in mind that total pips does not include what was made prior to start of chart and the chart is still moving up.

This is what I see on my chart...easy to understand and simple to use.

TICK

I watched, excellent signals.

This is Renasdad's method...he gets the recognition. I use same indicators... just don't have access to the 4 hour chart due to the charting limitations of www.fxsol.com.

Tick

One suggestion.

Guys, you can skip the RSI 21 if you add EMA 34 on the chart. 5 EMA crossover with 34 EMA, is the same as RSI 21 crossup/down the line 50.

Please scan the chart to see it. I only scanned it on 1 hr chart.

This will help to simplify thing further.. i hope.

I will need to see the eye doctor if I add one more line to my charts. As it is, my upper charts have 4 lines...adding a fifth would be more confusing. I would then need a magnifying glass to see all of the lines on one single chart and I have a 21" monitor. My charts would end up looking like a christmas tree from a distance with more colorful lines added to my charts.

I like keeping the RSI 21 on the lower chart for confirmation and simplicity. After trading this system for a long time, adding one more line would create confusion and I would have to question all of my moves all over again. I watch 20 currency pairs and that would be a problem.

Thanks for the suggestion and please keep them coming. Unfortunately, adding more lines to the upper charts would be a problem for me.

Tick

G'day Tick,

Great work with the system. Good to see others using it profitably.

I have a question for you. Do you take profits off the table other than at your exit? If so, how do you determine where?

Cheers,
Art...

Hi Tick !

WELL DONE .....
LESSON LEARNED !!!

Keep on pippin

Bernhard

@renasdad

Let me just repeat to see if I understand your method.

Using 5/12 EMAs, RSI (21 period) and Vegas 1H tunel.

Just tell me how to set up Vegas tunel? What MAs are you using for it?

When you put on the Vegas tunnel, it will have the MAs on there for you. Then put on the 5/12 EMAs and RSI. Thats it!!!

Anyone ready to go long audusd?