HEY GUYS, DOES THE 11th GRADE TRADING SYSTEM WORK? BELOW IS WHAT IT SAYS TO DO.
Trading Setup
Trade on daily chart (swing trading)
5 EMA applied to the close
10 EMA applied to the close
Stochastic (10,3,3)
RSI (14)
Trading Rules
Stop Loss = 30 pips
Entry Rules
Enter long if:
The 5 EMA crosses above the 10 EMA and both stochastic lines are heading up (do not enter if the stochastic lines are already in the overbought territory)
RSI is greater than 50
Enter short if:
The 5 EMA crosses below the 10 EMA and both stochastic lines are heading down AND (do not enter if the stochastic lines are already in oversold territory)
RSI is less than 50
Exit Rules
Exit when the 5 EMA crosses the 10 EMA in the opposite direction of your trade OR if RSI crosses back to 50
I am useing this system and comparing against 6 others.
So far its down 3.7% but has 4 outstanding majorly profitable trades that should push it to +5% since July 17, (I am useing trailing stop losses to lock in profits).
Check out “Let’s do an expirement part 2” in Newbie forum to track it in the tournament of systems. It’s system 3.
I saw this system but what time frame you use because if you use let say 5 min time frame this system wont work it will give you wrong entries its better use emas for long period time frame let say 4h because ema is lagged and it will give you a signal but it will be late :) i think that everyone have to search try different indicators and time frames and everyone should use system which work for himself not for anybody else i did it and i found system which work really work for me i use it only for EUR/JPY and till now every day i make more than 300 pips but i think it work only for E/J i have another system special for GBP/USD and like i said dont use system which i don`t understand … build your one simple which works! and sorry for my ENGLISH:)
I was using this system some time back and switched to other more reliable systems as I was not getting the results which i was anticipating. I know it is not advisable to keeping changing system every now and then but I have to do it as I have not find the most suited system for me.
Hi,
I love this system bcos of its simplicity,the truth is in simple form.Now, Does the system work very well on the MT4 platform? What about if I set theSL below 30 pips? Please recommend two currency pairs for me on this system.
Thank You.
Prince.
