I called this system the Walking Zombie system because this is for Forex trader like me that account balance are almost dead. lol . Well its about time to resurrect your account but as a mindless brain eating zombie instead of a cry baby that sob whenever you get a negative profit.
Disclaimer:
I am also a newbie trader im not a pro and most of all I just copy some of the idea here to other systems. I Haven’t check the whole forum yet if anyone comes up the same Idea as I am let me know, If you think that I copied you’re system. I just want to help losing trader Like me to get back on their feet.
And again I got these idea by adding up indicators from other system like a zombie I just took the good part and come up with my own. Let me know if anyone think that I copied your system. Lets talk about it professionally. :60:
this is also good for people who work 8 hours a day and cant be in front of the screen all the time.
ok Here it is
Time Frame: 4h
Indicator
5 EMA (blue,close)
10 EMA (red,close)
20 EMA (lime green dotted,close)
Stoch (10,3,3)
RSI (9)
Pair : right now I have only tested it on EURUSD feel free to try it on a different pair and let me know how was it
BUY condition
5 EMA(blue) cross above the 10 EMA(red)
price must be above the 20 EMA
Stoch must be going up but not overbought
RSI must be above 50
You can try to experiment on this part but what I do is I set SL -30 pip the current price / then I set the SL to BE if price goes above 30 pips / after that every candle that close I set the SL -30 of the highest price of the prev candle. Give me our suggestion or input if you have a better exit and stop strategy thanks
Backtesting or demo? It’s a perfect system to test historically and trace it’s profitability, win ratio, R/R, in multiple pairs, timeframes. sessions…
Just to give some extra ideas
i found a wonderful strategy the last days.
i could only made a backtest but the backtest is very impressive. i use only 1 indicator (no repaint - or replot) and have 4-5 strict rules. i think with this strategy you can make easily profit every month if you observe the rules. SL is about 40 pips and TP too.
the problem is i have no bankroll to trade the strategy. i want to do it with a demo account but in next month i want to trade with real money.
so i would sell this strategy to 3-4 persons if somebody is interested to have a micro account to trade. price is abour 300 euro or dollar. all i need is 1000-2000 euro to trade with micro account. i can insure that everybody can make profit with that strategy when you trade with the rules. so 1 indicator that is no repaint 4-5 rules . in trend markets oder sideways thats no matter. any pair 5 min charts. so if somebody is interested contact me. thanks
Very attractive! The name of the thread, the icon, the op’s name, and the innocence to not even know what a repainter is. And, yet, a struggling newbie blows off thousands of pages of multi-forum advice and goes back to the basics to find something that seems logical to her. IMHO, this spirit is a large part of what makes a trader. You have my admiration and appreciation for your contributions.
So many of us follow an arduous journey, vacillating between winning and losing, elation and despondence. Can it be that the closest thing to our personal grail was in our backpack all along? Moving averages, Stochs, and RSI. There they all are in my regular old “indicators” tab, not even in “custom indicators.” How long have these indi’s been around? What are we looking for? Do we lack the patience to follow something through before we toss it aside and move to the next great idea? Some of the best minds in the business tell us to keep it simple and find what works for us.
I took this approach and looked back to the beginning of the year. The usual caveats include that this was done by hand, I may have missed something, do your own homework. I identified 24 trades on the eur/usd. The table below shows those trades and possible outcomes. I assumed entry at the close of the bar meeting conditions. “Retrace” means how far the position moved against me, meaning how much I might have had to lose or what kind of stop loss I would have needed to stay in the trade. An estimate of this is shown in the “Loss” column and that means what was the potential loss on the position. Likewise, the “Favor” column shows where price moved to in my favor within a reasonable period of time. This translates into potential gain. Everyone is different. Knowing how I trade results in the “Likely” column, i.e., for me, I would have traded this with about a 40 pip sl and managed the trade to hold onto about 60-70% of a gain. This column, then, would have been the most likely pips outcome had I been trading the method. A final thought is that I would be especially cautious about entering a trade immediately following a large-range bar. These bars can meet the conditions, but there is a tendency to “rubber-band” the opposite direction on the next bar. Big range bars are noted on the trades made 2-21, 2-26, and 3-19. Proper discipline would have had us pausing to look for better entries.
Mark, though there are a number of trading platforms, I am supposing that most retail traders are using mt4. You can always get a free demo account and try out a method with no risk. In any case, I can’t think of a platform that wouldn’t have the basic indi’s referred to in this thread. There are three exponential moving averages: 5, 10, and 20. There is a stochastic set to 10,3,3, and a relative strength index set to 9. I would be curious to know what platform you are using and if these indicators are available.
I was impressed by the op’s willingness to trust her own eyes and come up with something simple that seemed to work for her. In a bit of backtesting, I found the method profitable. My little contribution looked at results through 5-8, the 8 bar gmt which I posted just after ten on that date. After that, on the 16 bar, same date, the method gave a sell signal eur/usd short at 1.3847 and the close Friday was 1.3628, i.e., over 200 pips if we were still in the trade.
Hi, thanks for the info, I’ve got a new demo account with oanda and I am struggling to find the indications on there, but to be honest that could be me not knowing my way around it sufficiently, I really like the idea of following this system because it seems simple enough for a newbie like me.
Mark
Mark, with mt4 all your indicators will be in the Navigator window. Be sure it is open. If not, hover your mouse over the toolbars at the top of the platform and read the description. Fifth icon from the left should be “Navigator.” Open it up and place it where you want on the chart. I like to keep mine to the left of the chart and just below the “Market Watch” window. Within the Navigator window, scroll down to “Indicators.” Double click if they aren’t showing. In alphabetical order, you should find “Moving Average,” “Relative Strength Index,” and “Stochastic Oscillator.” Double click one at a time to open a window offering selections. Make your selections, click ok, and the indicator will go to your charting window. The op here is applying three exponential moving averages, so you will have to apply the ma indicator three times, changing the period each time.
[QUOTE=“pipwoof;630834”] Mark, with mt4 all your indicators will be in the Navigator window. Be sure it is open. If not, hover your mouse over the toolbars at the top of the platform and read the description. Fifth icon from the left should be “Navigator.” Open it up and place it where you want on the chart. I like to keep mine to the left of the chart and just below the “Market Watch” window. Within the Navigator window, scroll down to “Indicators.” Double click if they aren’t showing. In alphabetical order, you should find “Moving Average,” “Relative Strength Index,” and “Stochastic Oscillator.” Double click one at a time to open a window offering selections. Make your selections, click ok, and the indicator will go to your charting window. The op here is applying three exponential moving averages, so you will have to apply the ma indicator three times, changing the period each time. [/QUOTE]
Hi, thanks again for the information, I am using oanda mobile on the iPad, I’ve managed to download the mt4 app to link to my account now, so should now be able get it sorted, cheers, Mark
