I’ve start a few threads here and there most didn’t pan out so well because trading success was almost nil. Probably because I was trying to trade someone else system. Which fit their trading needs and not my own. Around the beginning of this month I decided to develop a system from all the systems others had created.
The results are finally starting sink in
Here’s a few things I’ve learned
The top 8 or so currency pairs each move in cycles.
Cycles consist of large 100-200+ pip moves most lasting several days, consolidation before and after large moves, all of this can be seen on a zoomed out 1H chart.
Monthly highs and lows are important. (thanks ICT)
It doesn’t matter how you trade, the only thing that does matter is over the long term results are positive.
Simplicity is best.
Here is a trade I took last night or early this morning. Second pic is the trade before it.
For the first time in 1 year of studding, learning forex, and how other people trade I will be profitable at the end of the month. Thank you everyone here at babypips and other forums because without you this wouldn’t have been possible.
Sure but really?!? Did you have to quote the whole thing?
BUFU Trend Following System
236 CCI
61 CCI
Heiken Ashi Smoothed (HAS) - The settings below are an exact duplicate of the Heiken Ashi Exit indicator. Which is a lot slower and better imho.
HAS settings as follows:
MaMetod - 1
MaPeriod - 40
MaMetod2 -1
MaPeriod2 -1
Trading
1H charts only taking trade when HAS, 61 CCI, and 236 CCI agree.
Example
Buy Signal:
CCI 236 is green, HAS give buy signal, CCI 61 crosses above 0 enter at candle close.
Sell Signal:
CCI 236 is red, HAS gives sell signal, CCI 61 crosses above 0, enter trade at candle close.
Filtering False Signals
Entry CCI 61 (white line) can filter false HAS signals. If HAS gives a signal to re enter while CCI 61 is above zero line in a down trend this could be a false signal.
We can also use Entry CCI (61) to confirm reentry to a existing trend. For example Trend CCI 236 is red showing down trend Entry CCI 61 crosses above the zero line and back below this can confirm reentry.
If The Trend is Already Established
So you open up MT4 and all the charts have established trends on the 30M or 1H charts. Oh no it’s the end of the world j/k. Switch down to the 15M chart and look for a signal to follow the trend. For example 1H chart CCI and HAS is red, we switch down to 15M and wait for a reentry signal. Make sense?
Taking Profits and Stops
Default stop at 25 pips. TP when HAS signals against the main trend.
j/k. Switch down to the 15M chart and look for a signal to follow the trend. For example 1H chart CCI and HAS is red, we switch down to 15M and wait for a reentry signal. Make sense?