![]() Once a trade is opened, ignore them (or take them off the chart). The indicators are used only to open trades, not to close them.“no dead crosses”), and the RSI is below 50 and falling, and both lines of the stochastic are below 38.Įxpose to risk no more than 1% of your trading capital per trade (value per pip is such that a 9-pip loss will lose only 1% of your funds) “no dead crosses”), and the RSI is above 50 and rising, and both lines of the stochastic are above 62.Įnter short at the start of the next M10 bar after an M10 bar has closed with the fast moving average having crossed down below the slow moving average while both moving averages are declining (i.e. RSI: 10 periods with a horizontal line drawn at 50 (if your charting software requires two levels to be specified, just put “50” for both of them)įull stochastic: settings 5-2-2 with horizontal lines drawn at 62 and 38Įnter long at the start of the next M10 bar after an M10 bar has closed with the fast moving average having crossed up above the slow moving average while both moving averages are rising (i.e. EUR/USD and/or GBP/USD when either Europe or New York is in its normal business hours, but avoiding the opening of sessions by half an hour and their closing by an hour choose only pairs with low spreads, such as GBP/USD and EUR/USD during their appropriate sessions) M10 forex bar charts during their main trading hours (e.g. Here’s the safest, most sensible forex system I’ve seen with entry parameters based on moving averages, stochastics and an RSI. Ok, subject to the comments above, I’ll answer it. I’m happy to recommend books to you, now or later, if that helps.īe patient with me, please… but/and answer my question! I urge you to do the same, and the sooner the better. I come from a “trading family background” and have now been trading for a decade (including an initial 4-year period of studying, watching, learning and using demo accounts only), and for the last two years of that, after an enormous amount of trading education, research and practice, I’ve fairly steadily earned from it what most people would consider a very good living (that’s how much work I put into it, albeit part-time, to achieve it - even with my background) like many people in similar positions, my trading became consistently profitable only when I eventually abandoned the pursuit of indicator-based systems. ![]() To move towards trading profitably, Brygida, you’ll have much better chances if you give up indicators, and learn “price action” techniques, in my opinion. Those indicators “speak” to me the best, so do you know any easy system that uses them? I want to ask you about your, checked, trading systems using moving avarages, RSI and Stochastic.
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