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TRADING STRATEGY

 
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jsrs45

TRADING STRATEGY

1)    TRADING STRATEGY:

  1. Set up trading charts as follows:
    1. EUR/USD   GBP/USD 
    2. 5 MINUTE CHARTS
    3. 35 SIMPLE MOVING AVERAGE
    4. 7 EMA:  RED
    5. MACD:  7, 22, 7 
  1. Trade entry: TRADE N.Y. OPEN 7 AM – 10 AM CENTRAL
    1. TREND:  CHECK 35 SMA FOR LONG OR SHORT
    2. 7 ema/red crosses the 16 sma/blue
    3. MACD near zero
  1. Stop loss set at 6 pips
  2. Profit target: 12 pips
  3. Lot size:   0.01 and add more if the trades go your way
  4. Trade management:  move stop loss toward entry point as soon as possible. Move stop loss to preserve profits.
Mon, 10/31/2016 - 2:37pm
 
danielfowler91

What metrics are used to evaluate the performance of this strategy?

 
Ora

can you share your back testing results? Thanks for sharing this strategy, it seems simple to follow and I like simple. Would be great to know what the win to loss ratio is for this strategy....

Also, can this be used in a higher time frame and different trading session?

 
Amanda Mundy

Thanks I will try this.

 
egghead.nest

heres another idea, Im calling it a metastrategy, as its an idea about strategies

First off you find what is your most compelling indicator. Suppose its Bollinger bands
You start working with the indicator, and after a while you find that you need to add a little for comfort.
So maybe you put in Heiken Ashi candles with the Bollinger Bands. Ah thats better, the guesses seem to be coming out right more of the time....
Maybe you put in a short term moving average. That doesnt seem to be doing very much after a while so you scrub that.
Now you make a great discovery, the multitrend indicator, so now you can look at things in a number of time frames and get an idea of how things are really trending
Your confidence goes up with more experience of your growing system, and that confidence is the touchstone for evaluating what should be in it.
Maybe you leave things at that for a stage or two of the Apiary learning experience. Then the blighters force you into something like scalping, where you dont really want to go but you have to. So you look around for something that will possibly give you a short term edge and you put in the Hull indicator from MT4 (I use a MT4 system outside Alveo for graphical work)
The general idea is that you never abandon your working method, but you do allow yourself to tweak the rules that you are applying in it, to add and subtract indicators and tools. Well Ive only got to Silver 2, and Ive been studying forex for maybe five years, always on paper. The Apiary teaching system has made me personally get out of my comfort zone, and in doing so has made me learn a lot that I hadnt accomplished by myself.
I now know that I could trade without the Apiary system, and I have sufficient confidence to stick to my trading ideas. That doesnt mean rubbishing other peoples ideas, it means carefully looking at their work and trying to puzzle out what its doing for them and what facets of their methods can ornament ones own work

 
Keith Collins

JS - I also was curious what the stats are on this strategy. And I had a question: trade entry indicates to enter when the 7ema crosses the 16 sma but he sma indicator used was a 35 sma. Did you mean: enter when the 7ema crosses the 35sma?

 
ChristopherJ

I will have to try this out. I have not been a contistely good trader on NY open.

 
paulguggenberger

Thanks for the info.

 
gotrizen

great simple, I will try on my next ...
good for scalpping.

 
mynhardt32

Thanks for the info