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My SSR Strategy for Silver 3, and beyond!

 

My SSR Strategy for Silver 3, and beyond!

Greetings, BeeLiners!

My current strategy I have developed over the past 6 months, and I call it the SSR strategy. SMA/Stochastic/RSI. It involves using the 40 and 10 SMA, together with the Stochastic (5,3,3), with only one Level that is set to 50, and the RSI (5), with only one Level that is set to 50.  You may set the level color to whatever you like, but make the line thicker so you can see it easily. After you have added the 40 and 10 SMA, and the Stochastic and RSI indicators to your chart, get ready to make some money! Basically, you follow the trend and momentum, over the last 3-6 months at least, with a 4hr (SMA set to 200), 1hr (SMA set to 100), and 15 min (SMA set ot 40) time charts. For this particular strategy, DO NOT trade against the trend. Always trade WITH the trend. The following are the indicators and criteria that you are looking to meet in order to open a trade.
1.) Establish and determine the Trending PA (price action) with your time charts, Bullish or Bearish, Up or down, Long or short.
2.) With your 15 minute chart, look over the last 5 days of PA. Now, compare that trend with a 4hr (SMA set to 200), and 1hr (SMA set to 100) time charts. If the PA is above the  200 (4hr),100 (1 hr), and 40 SMA (on your 15 min chart), we are typically in an uptrend, then we are only going to go long, and not even consider going short. If the PA is below the  200 (4hr),100 (1 hr), and 40 SMA (on your 15 min chart), then we are typically in a downtrend, and we are only going to go short, and not even consider going long.
3.)RSI (5), with only one level set at 50. Buy setup: RSI indicator line and PA above the level 50 line, and indicator line is pointing up.
Sell setup: RSI indicator line and PA below the level 50 line, and indicator line is pointing down.
4.) Stochastic (5,3,3) with only one level set at 50. Buy setup: Stoch indicator line and PA is above the level 50 line, and indicator line is pointing up.
Sell setup: Stoch indicator line and PA are below the level 50 line, and indicator line is pointing down.
5.) At least one candle (preferably 2) must have close above the 40 SMA for a buy, and at least one candle (preferably 2) must have closed below the 40 SMA for a sell.
6.) If all of the above criteria has been met, then you can open your trade with great confidence, knowing that your currency pair is going to move in the direction of the current trend.
Trade Tip: One thing to keep in mind. Using the 5 or 15 minute chart, Trade as close as you can to the support and resistance lines that PA has established . Also, open your trade as close to the crossover of the 40 and 10 SMA as you can. Once the 40 crosses over (sell signal) or under (buy signal) the 10, the chances of a successful trade are greatly enhanced.
When opening a trade, try to use a buy stop or a sell stop, with a small position size, such as 0.01, TP of 10 and SL of 10 That way, if it does hit the stop, the chance of it continuing in that direction are great. If it does not hit the stop, you lost nothing, and you can cancel the trade, and set up another one. If the first trade is successful, and it manages to gain at least 2.0 pips, then you can open a new position, this time with 0.10 position size, your choice of TP and SL depending on the momentum of the PA. And then open a 3rd position, if the trend and momentum are continuing. Watch carefully for a reversal between the 2nd and 3rd positions though.
Well, that is about it for the SSR strategy. I hope you have as much success with it as I have.
Trade On!
Cam

Tue, 02/13/2018 - 3:17pm