Hi all,
Just sharing another system
Select any pair, suggest that you avoid usdjpy though.
Rule:
- Use daily bar.
- If yesterday bar is CLOSES green, go long. If it CLOSES red, go short. Prefably, bar should close below 5SMA, but its up to trader discretion, depends on how you like to evaluate risk.
- Keep adding if you get consecutive bars.
- For SL try to use average daily range for the past 1week or if ur too lazy to count, the low/high of the previous day.
Other notes,
- When in profit, keep a trail, prefably a few pips above yesterdays trading range.
- Risk, up to you though its advisable to keep it at 2%.
Just sharing another system
Select any pair, suggest that you avoid usdjpy though.
Rule:
- Use daily bar.
- If yesterday bar is CLOSES green, go long. If it CLOSES red, go short. Prefably, bar should close below 5SMA, but its up to trader discretion, depends on how you like to evaluate risk.
- Keep adding if you get consecutive bars.
- For SL try to use average daily range for the past 1week or if ur too lazy to count, the low/high of the previous day.
Other notes,
- When in profit, keep a trail, prefably a few pips above yesterdays trading range.
- Risk, up to you though its advisable to keep it at 2%.