Thoughts on this system

Trading Systems Free Forex Trading Systems
1

I am very new to FX trading, only been working with a practice account for a month or so. Trying to develop a decent system, yet trying to keep it simple. Here is my current strategy:

Only going long (have not come up with something that I see can work for shorting yet):

I am testing this on 15 minute charts.

Buy when:
Moving average convergent/divergent is positive
Relative strength index is at 30 or below and heading upwards
at least two consecutive candle sticks with an upward trend according to the parabolic stop and reversal indicator
stop set at a 100 pip loss

Exit when two of the following 3 happen:
moving average convergent/divergent is negative
RSI is below 70 and heading down
two consecutive candle sticks with downward trends according to the parabolic stop and reverse indicator

Nothing fancy, just keeping it simple. Would enjoy hearing some feedback about this system, what you see as its drawbacks, suggestions for improvement, etc.

2

you can use the same elements for shorting. Put a 200 sma. Price above 200 means only go long, below 200 means only go short.

As for the rest. Be careful about the 2 consecutive negative candles especially on the 15min. Many times this will just be a retrace before continuing on.

I think you have too much going on but you’ll work the kinks out and determine what indicators you really need.