This is for Real, u can get consistently 20-40 pip per day within 2-3 hours :
(I took the Original Post#1description below from my FF thread, to keep to Original Idea intact and because I have problem updating my charts, I transfer here, and of course with some new nuances and especially the Patterns - the Good and Bad Patterns - For update of the Rules and Nuances refer to Post#2)
I have been trading with success, my own trading system, called KAS37, my favourite number (3 and 7), and would like to share it with the world.
Hope every Forex Trader would benefit from it.
Words of common advice - try it in demo account first, get the feel.
- Bollinger Band (BB), 20,0,2 - Default.
- RSI 3 and RSI 7
- Stochastic 7,3,3
- Simple Moving Average, SMA 3 and SMA7
- Pair - GBPJPY, 5 Min Chart. (the rest of the other pair, I wouldn’t guarantee of success)
- BUY ENTRY
a) Stoch cross up from below 20 (or less than 30)
b) RSI 3 and RSI 7 cross up from below 30.
c) SMA 3 and SMA 7, cross up between Lower BB and Mid BB.
- SELL ENTRY
a) Stoch cross down from above 80 (or greater than 70)
b) RSI 3 and RSI 7 cross down from above 70.
c) SMA 3 and SMA 7, cross down between Upper BB and Mid BB (FOR SELL ENTRY, THIS does not matter , ie the cross between the Upper BB and Mid BB- added 090208, 100208)
- STOP LOSS (SL) & TARGET PROFIT (TP)
a) SL is 30 pip, (or, 2 pip plus spread above or below previous swing High or Low - added 090208)
b) TP is 30 pip (or trail the profit if you are in profit)
c) Move SL to BE when in 20 pip profit.
d) If price doesn’t hit target profit within 30 min to 1 hr, Close it at Best Profit (added 090208)
- The rules must follow step a, b then c, NOT b, a then c, as you would not get VALID SIGNALS.
- EXCEPTION of ENTRY RULES, of RSI (cross above 70 or below 30) and Stoch (cross above 80 or below 20), can ONLY BE DONE, if and only if, u see DIVERGENCE with 3 Spikes of Higher Highs or Lower Lows.
- You may enter early by following signal a) and then b) without waiting for c) to confirm. BUT, it has 90% success rate - i choose to enter on this entry.
- It is BEST (change from almost mandatory to BEST - added 090208) that PRIOR to ENTRY based on the RULES stated above, that the previous 2-3 bars length shall be less than 20 pips