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Beginning Strategy Development

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Beginning Strategy Development

Description:  This strategy is a beginning strategy to pursue trades in alignment with the current trend.  It will identify trend direction and look for a positive time to enter the position.

Pattern:  The set up identification is either above the SMA for a long position or below the SMA for a short position on the currency pair.

Indicators:  Simple Moving Average (35) period, EMA (7), Stochastic (7,4,4), CCI.

Set Up:  Buy when pair is above SMA (35), and Stochastic is below 50, and pair is moving above the EMA. Review 1H, 15M and 5M charts. 

Set Up:  Sell when pais is below SMA (35) and Stochastic is above 50, and pair is moving below the EMA. Review 1H, 15M and 5M charts.


Trade Time Relationship:  Up to one hour before London Market open and one hour after, and one hour before New York Market open and one hour after NYSE open.

Entry:  Place market order on the close of the candle after review of 1H, 15M, 5M charts and after the Stochastic indicator turns in the direction of the SMA trend. TP set at 24 PIPs and SL set at 12 PIPs.  Avoid trades before news releases.

Money Management:  Total position no mor than (.5%)

Exit:  Close trade if reversal occurs as signaled by Stochastic and CCI indicators.  Let trade continue if strength of trend is continuing. Adjust stops after close of candle along (35) SMA if needed.


Wed, 10/10/2018 - 9:53am