Hello everyone,
I am new to this forum and I want to share the system that i am developing with the sole intention of exchanging ideas and listening to your contributions.
Like many of you I have spent years trying to achieve stability and consistency trading the forex market and like many of you I have blown up several accounts before I could reach balance, emotional and financial.
My system is very simple, so simple it's boring, but I've seen over time that growing an account is a slow and boring process but it's worth it
*Remember it is still in development
1. Counter Trend
Indicator
AO (Awesome Oscilator)
Heiken Ashi
Rules Short/Long
1. Wait for a long trend move
2. AO indicator - Wait for 3 small mountains to form in the opposite direction of the trend, "They should be very obvious and easy to identify - Divergence"
3. Open a trade with the first Heiken Ashi candle in the opposite direction of the trend
*I have only tested the system in eurusd, usdjpy and sp500 / 1-2 minute chart
**Remember to use the appropriate risk/reward all the time
Clue
A. If the three small mountains on the AO indicator don't cross the 0 line, the pullback is probably not that strong, so the target should be small.
B. If there is a crossing of the 0 line on the AO indicator, it is likely that the retracement will be stronger or even become a new change in trend.
Avoid
* Trading before or during big news
* Counter-trend signals just after breaking an important support or resistance (Wait for it to get far enough away)
* Market with low volume or close to closing
I am new to this forum and I want to share the system that i am developing with the sole intention of exchanging ideas and listening to your contributions.
Like many of you I have spent years trying to achieve stability and consistency trading the forex market and like many of you I have blown up several accounts before I could reach balance, emotional and financial.
My system is very simple, so simple it's boring, but I've seen over time that growing an account is a slow and boring process but it's worth it
*Remember it is still in development
1. Counter Trend
Indicator
AO (Awesome Oscilator)
Heiken Ashi
Rules Short/Long
1. Wait for a long trend move
2. AO indicator - Wait for 3 small mountains to form in the opposite direction of the trend, "They should be very obvious and easy to identify - Divergence"
3. Open a trade with the first Heiken Ashi candle in the opposite direction of the trend
*I have only tested the system in eurusd, usdjpy and sp500 / 1-2 minute chart
**Remember to use the appropriate risk/reward all the time
Clue
A. If the three small mountains on the AO indicator don't cross the 0 line, the pullback is probably not that strong, so the target should be small.
B. If there is a crossing of the 0 line on the AO indicator, it is likely that the retracement will be stronger or even become a new change in trend.
Avoid
* Trading before or during big news
* Counter-trend signals just after breaking an important support or resistance (Wait for it to get far enough away)
* Market with low volume or close to closing