CROSS around the Clock Trading System

[robnreb01]

Hi baby pips gang, just thought I would post my new trading system I am working on.
I have named it Cross around the Clock. I would appreciate any constructive input anyone has. See below for rules:

Thanks for looking!

CROSS around the Clock system

Charting Tools:
RSI=24 period
ATR=48 period
SMA 1=12
SMA 2=24
Forex Chart used = 1hr

Rules:
Entry: SMA 1/SMA2 have to cross
Confirmation: RSI crosses 50 (1 hr chart) before or after SMA1/SMA2 cross

Stop-loss (S/L) - Exits
*Trailing STOP is 2N from entry point (Where N=ATR value at the time of rules meeting criteria

Final Important Notes:
*Risk per trade is maximum 2% of the total value of the account.
*Not restricted to any currency pair, however best trending pairs are the majors such at EUR/USD, NZD/USE,AUD/USD etc.
Exit: No restricted exit. Exits will occur when trailing S/L is hit.

[Bijoymj]

Good to hear. Waiting for more posts. Trailing stop will trigger only after the trade passes in trader's favour with the same no. of pips in trailing stop. What will be your initial stop loss ?

[mynameisfez]

You should enter this to the trading system contest!

[Raza]

This method should work just fine.. I have almost a similar method that I have been using for past 6 months..the key is to let the winners run..

Good luck!

[btkelly]

Stop-loss (S/L) - Exits
*Trailing STOP is 2N from entry point (Where N=ATR value at the time of rules meeting criteria

I don't follow what is meant by the above.I suspect ATR means average time range but I don't understand the N=ATR bit. Thanks BT

[robnreb01]

Hi guys, ATR (Average True Range) is a technical indicator found on most trading platforms. In this system I don't use a hard stop. From the initation of the trade its always a trailing stop. The trailing stop is calculated by taking the value of the ATR at the time of the trade and doubling it ( or in math terms SL=2N where N=ATR value). For example, if ATR at the time of the cross is 22 pips my trailing stop will then be 44 pips.
Lastly, like Raza said after you take the trade... let it ride

[buster48]

I like the sound of this Ive tried so many stratagies so far,this is nice and simple (bit like me really ) so will watch posts with interest.Thanks for this post,Robnreb

[yagizalpfer]

Hey thanks for sharing,

i didnt really get the idea how to use ATR can you please more clear. This is another step for the baby. Thanks!

[Tonko]

Hi, Thanks for posting this system.

Just a quickie.... What indicates the position you should open?

Is it if the RSI is below 50 you go short, above 50 you go long?

Thanks

[nicogaglia]

Hi, compliment for your strategy but I have just a couple of questions:
- exit strategy: you exit when the opposite sma cross occurs?
- entry strategy: entry long when rsi cross 50 from below and entry short when rsi cross 50 from above?

Thanks
Nicola