H,
I am new to forex. Months of searching a profitable method bring me down to the most idiotic ways of attempting making money on this monster. I am frustrated and angry at this stage - i am sure everybody go through that stage.
I just run few hours test on eurusd 1M, witch heiken ashi only:
Open trade on first heiken ashi candle of new colour and close on first candle of opposite colour. Children can do it.
Results:
I am eaten by commision /and i expected it/, but maybe it will work on 5M or 15M.
Has anybody tried it, maybe an EA was created somewhere in the past?
I did not take any trade based on Heiken ashi as I am looking for a confirmation yet from the day I started to observe it.
I have [B][I]Heiken Ashi [/I][/B]on [U][I][B]Daily time frame[/B][/I][/U] with just one indicator that is [I][U]EMA 14.[/U][/I]
As on today there is no confirmation to buy / sell. most probably there will be one tomorrow.
I did not try it on lower time frames. you can get this system on you tube (this is not my strategy).
Rules for this strategy are:
[B][I][U]For Short position[/U][/I][/B]
- Two Red Bars - Heiken Ashi has two the last two bars RED
- EMA is pointing Down - WMA pointing down, indicating down trend.
- Look for entry point - First red bar crosses EMA amd closes below it. Wait for the price on second bar to break first bar’s low and enter.
[B][I][U]For long position:[/U][/I][/B]
- Two White Bars - Heiken Ashi has two the last two bars WHITE
- EMA is pointing UP - WMA pointing Up, indicating up-trend.
- Look for entry point - First white bar crosses EMA amd closes above it. Wait for the price on second bar to break first bar’s high and enter.
[B]STOP LOSS - 100 pips
TAKE PROFIT - 200 pips.[/B]