Introduction: After many years of trading systems, becoming a forum junkie, testing ea�s, joining signal alert sites, with no great success, I decided to put together my own system. I call it Braydensgrail, I name the system in honor of my son : ) Sorry if your still looking for the holy grail system in the forex market keep looking because this is not it. If by chance you do find it however please come back and share it I would be curious to finally know what it looks like. However with my experience and common sense I have created what I believe is a powerful tool for surviving and trading in the forex market. This is not a scalping method. I don�t like watching a 5 min chart and trying to decide what the market is going to do next it gives me a headache. I am looking for the big 100-200 pip moves that occur in pairs.
The System:
Open any Forex chart, put the �Williams Percent Range� indicator just use the standard settings you don�t have to change anything. Next click and drag the �RSI� over the Williams Percent Range Indicator, using standard settings. Ok you�re done.
Next double-click �Accelerator Oscillator� once you have that on your chart click and drag the �Stochastic Oscillator� over it using standard settings.
Now, when the �Williams Percent Range� crosses below the �RSI� and the �Stochastic� and Accelerator Oscillators� cross below zero (0) at the same time, GO short! When the Williams Percent Range crosses over the �RSI� and the �Stochastic and Accelerator Oscillators� cross above zero at the same time, GO long!
Both these indicators work well on the H4 and Daily time frames. As an added option, I put a 50, 100, and 200 MA on my charts to both use a filter and trend direction.
Note: The red lines are were the indicators/indicator crossed and trades were taken. If you notice the Williams/RSI sometimes crosses first or the Stochastic/AC crosses first (you could use this as an early entry if you want to) these indicators are powerful enough to be used independently. I will sometimes enter the market early if I feel price action is going to cooperate, however I am more confident about a trade when all the indicators are reflecting one another. Other key factors the can influence my trading but not always are trend direction and fundamental reports such as news.
Money Management: As a “general rule” I never risk more than 1% of total equity on any trade. I use a mental stop loss of -73 pips (depending on the pair and market conditions I sometimes increase it to -100 or more). If I have a trade open that is not yet in profit and I am going to bed or not going to be next to the computer for a few days I will place a stop loss with my broker. When a trade hits one pip profit I put a 15 or 25 point trailing stop on it (however if the market is acting volatile I will increase my trailing stop) and let it run until I am stopped out, but you can use which ever size trailing stop you want or your broker offers. Since everyone has a different account size I suggest you use a money managment program that is best for your account. If you have more questions about money management visit: Braydensgrail’s Weblog
Actually, that’s one of the simplest mechanical entry methods I’ve ever read, apart from coin tossing and basic MA crossovers. This could be traded out-of-the-box or used as a basic template on which to build a more complete system.
I may not get around to monitoring what this looks like in real-time, but thanks for the contribution to the forum, AgentFX. Hopefully you’ll post some trades taken using the method as they occur.
LOL yes i think so to. This system is complete by the way, I have been using it for a little over a year and have been getting some good results. I have recently started posting trades here : Braydensgrail’s Weblog on my webblog to keep track.
I like the look of this, I set up the chart for EUR/USD (Daily) and it looks like it could compliment my scalping very well. I do notice from your results that EUR/USD does not seem to the the best pair for this method. What pairs do you suggest, considering the Daily chart will be used ?
This system is designed to work on all the pairs and works best on the 4H and Daily time frames. I do take trades off the EUR/USD when I get the signal but you got to remember that pair trends very slowly. My trades on that pair usually last 3-5 days when I take them : )
You are right williams and RSI are running parallel at the moment ,
I did NOT see any good trades for Braydensgrail System today but I did however take a few trades using another one of my systems called Braydensgrail Advanced Warning which I have posted here as well: Braydensgrail�s Weblog
Its like an early warning system for Braydensgrail System : ) I like to use both because it allows me to take more trades that way.
Yes, abner I been using this system for over a year. GBP/USD short was one of many trades I have taken.Since yesterday was the day after Non-farm payroll and other major news,the market unusually moves with very little volatility. Some other members e-mail me and asked if could start posting trades. GBP/USD short was my first trade taken and closed since being asked to post. I will be posting more trades everyday as they happen and you are more than welcome to follow along with the progress : )
trade closed (was expecting it to reach 1.9600, but retraced quite a bit and looks like a possible hammer forming on the daily at the end of the Asian session)
I don�t see any trades today. It looks like pairs are still consolidating a bit from non-farm payroll last week. Will see how things look tomorrow, we should have some good trades in the next day or two
Trade Update:
GBP/USD short (Braydens Advanced Warning) 4h
hit trailing stop closed
+25
AUD/USD short (Braydens Advanced Warning) 4h
20 mins after I took this trade realized we had news coming out and put a tight stop loss thank god. News went against my trade got stopped out.
-15
Total:
+10
Wow this has been a pretty boring and uneventful week so far for trading : )
