Hi All - My first post at baby pips, hope you enjoy my strategy.
I use three moving avg: WMA100, SMA15, EMA3. Currencies: All, but mainly I trade GBPJPY on a 15min chart.
EMA 3 crosses WMA100 and the candle closes above the WMA100. Enter the trade. Stops are placed as soon as ema crosses below WMA100 or 10 20 pips below WMA100. I am pretty discretionary when it comes to it as I just watch the trade when after I enter it.
My profit taking occurs when ema3 crosses on sma15. This is telling me the short term trend may be waning and it is time to get out. With good discipline and even whipsaws you can still make a few pips with this strategy.
Hope this helps!
M:)
I like the style of your strategy and am trying to use it now. What do you mean by candle stick closing above wma100. I am new at this so please afford mr yo ur best of patience. thanks.
By the look of this post it was a “one off” attempt at grabing
the limelight, nobody was really interested so the o/p didn’t
make another post.
The o/p though means, make the trade on the next candle after
the previous candle which crosses the 100WMA.
A similar system can be found here:-
http://forums.babypips.com/free-forex-trading-systems/6580-3-ducks-trading-system.html
Have fun.
I’m glad you like the strategy. Let me know how it is going. This is good to trade during the London open 2am nyt as it is busiest time for this pair.
Also check into carry strategies. These are consistently more profitable than technical trades at least have been for me. You can construct a basket of 5-10 currencies for stable results.