I call this system as ATM - it generates cash from the forex market.
You can trade it anytime you like.
As I have full-time job, [B]I trade only couple of times a day. Once in the Morning, Once in the Evening.[/B]
CURRENCY PAIR : EUR/USD
TIME FRAME: 5 MIN
INDICATOR: 21 SMA
RULES FOR ENTRY:
If the 21 SMA is clearly upward sloping. Buy 1 Lot.
If the 21 SMA is clearly downward sloping. Sell 1 Lot.
If the 21 SMA is flat pr near-flat, do not trade.
RULES FOR EXIT:
For each trade, stop loss is 20 pips. Take profit is 30 pips.
You need only 40% winning trades to break-even.
Since, you’re trading with the trend, you have an edge.
I have been trading this system for clsoe to 3 months now.
50-60% of my trades are profitable.
Even with 50% success rate, after 100 trades, you can expect to win 500 pips!!
The equity curve is quite stable. I have had maximum of 5 straight losers with this system.
Overall, a very simple system to earn pips for someone with a full-time job.
Jay_D
2
is this still working for you? many thanks
What do you use to time your entry?
Clearly having a method to enter is better than just randomly entering anytime the 21sma is sloping up or down.
fxster
5
Indeed sound very simple and you records seems encouraging.
But how do u determine, clearly upward/downward sloping?
I agree that I’d much rather see spending cuts, and that they are more beneficial anyway.