Fx v4

Trading Systems Free Forex Trading Systems
1

Hi All,

I thought its time I would share how I trade, This is my first time posting so please be gentle. I thought Baby pips would be a good place to start since this was the first place I came to when I started trading the market. I have tried to make the system easy to use any comments or questions are welcome.

This system uses the 35 and 50 MA’s as entry points plus wave analysis

I guess i should get started

[U]The Rules[/U]

[U]Trading Times[/U]

I only trade between the hours of 6.45am and 5.00pm UK time.

[U]Time Frame[/U]

15 Minute charts ONLY I do not use any other time frame. I found that if you keep looking at other time frames you will get mixed signals. All you need is a 15 minute chart.

[U]Currency Pairs[/U]

EUR/USD, GBP/USD, EUR/JPY you can use other pairs but these are the only 3 which I trade.

To be continued…

2

[U]Entry[/U]

  1. Price MUST be under or above and touch one/both of the MA’s. So here is a picture of a trade taken when trading GU.

  1. The price must have made a High, Low, Low High for short trade and Low, High, High Low for long trades.

           Example of a short trade

  1. RSI and trade direction must match or RSI trend line gets broken


3

4

Nice work. For once someone is trading price’s reaction to indicators. Why the time restriction?

5

I only use 15 minute time frame because when i started looking at higher or lower time frames it confused me :confused: I feel that 15 minute gives you enough time and action in a day. I hope that answers your question let me know if you want more information.

I will post more pictures and more information soon so there is still more to come.

Thanks for posting

Phil :slight_smile:

6

Hi,

Your system sounds interesting but I have few questions about it. Have you any rules to exit trades? Do you use any stop lose? How you take profits?

Thanks for sharing
L

7

Hi Letoffee,

I sure do. Here are my rules on SL and TP

Stop Loss:

  1. Stop Losses I always set my SL to 25 pips by default that means I need to make more than 50 pips a trade. If I enter and a trade turns against me I will come out of the trade at 15 pips

  2. Move your SL above the last candle which closed. (I will give more info and pictures about this later on)

  3. With this system you should be able to set your SL just above/below the 35/50 which will normally be between 5 -15 pips away if entering at the right point. Like i said at the start of this post my default SL is 25 pips it is set to that so it gives me time to adjust the SL when i am in the trade DO NOT LET YOUR SL GET HIT AT 25 PIPS.

  4. LET YOUR RUNNERS GO!!! Don’t just take profit when you reach 5 – 10 pips you need to judge the market and remember you are the one that entered the trade so if you followed the entry rules what are you worried about?

Profit Targets:
I use Fibonacci Expansion as a guide for take profit as well as big round numbers or big S/R levels.

I set myself a daily target when trading i aim to make 50 - 100 pips a day which i am able to do most days.

News: STAY OUT!

1.DO NOT trade during BIG News. If i am in a trade then I always look to take profit. Sometimes taking 50 pips is better than not making any pips at all

I will post some more pictures and also i have some more information which will help. I also have setup a live chat room for this system but i am just waiting on babypips giving me the ok to post the web address. Its 100% free to use and join but we will see what they say.

8

Thank you for good post. With those rules your system is easier to follow with.

9

Not a problem any more questions let me know

Cheers

Phil

10

Any news how you are doing with this system? How much profit at this week? I demo traded it a little bit and got some pips :slight_smile:

11

Hi,

Yeah its been a good week. I have been testing the system using a 5 min chart as well. So when there are no signals using the 15 min chart you can change to 5 mins and make some good pips. I have a new PDF which has more info so i will upload it here or you can visit my website.

Today i took 147 pips. Here are some screen shots.

3 trades this morning using the 5 min chart . Took 2 trade on EJ +47 and 1 +20 on GU

I then took 80 pips on EJ in the afternoon using the 15 min chart

12

Nice trades there, good job. I will demotrade this system more in this week and trying to get profits like those :slight_smile:

13

sincerest appreciation for all the information you’ve posted so far.

as you know, the fool will die for want of wisdom.
a couple of questions please…

  1. where can one get to download the pdf ?
  2. what’s your website ?
  3. what trading platform are you using ?

your information so far has been a lifeline for me.
looking forward to demo trade your system soonest.

regards…