I'd like to share my method of trading with anyone who is interested. Please feel free to give me feed back as I am always open to inprovement ideas or critcism as I dont profess to being an expert but this is what I have found good for me.
Im still only a demo trader at the moment but this method allows me to double my account balance every 2 weeks for 3 months solid
My prefered method is as follows
2 moving averages, first at 4 exp closed and blue in colour,second at 6 exp open and red
ADX set at 14 in yellow,d+ in blue,d- in red
Asctrendsig 1 ,imput at 4,400. 0 is blue and 1 is red
5 minute,15 minute charts
I do this on with both the 5 and 15 min charts (MT4) running on the same screen at the same time and both these charts must give same signals
When blue ema is on top,its buy,red on top sell,adx must support this also with a strong high or going up yellow line,asc trend signal also in support and only enter a trade when adx blue and red cross agressively and the ema's also seperate agressively showing a strong move.Get out when either your ema' cross over,you get an apposing esignal,or the adx turns down agressively( Yellow line ) or if the adx"s blue or red lines reverse or cross.
I aim to increase my balance by 10% a day and a pip is worth 1/100TH of my balance. In other words, I get my ten pips then Im done for the day.I haven't had a loosing day yet but if I got ten pips down, I will call it a day also.I only aim for 10 pips because I can only for 4 hours of an evening, most days I get in 2hrs.
What do you think?
can you post the Asctrendsig indicator you use??
4hr in the evening, what time zone are you in? est., gmt etc...?
Im in Victoria, Australia so I'm GMT + 11hrs.
RE put up indicator
How do I put the signal up for you, Ive never done that before
I found the indicator in the indicator section of this site 4 months back
Are you using Meta Trader 3 or Meta Trader 4?
Not sure if this is the signal Symtec23 is speaking of (this is for MT4)
see message #2 to download
Simple method that works well
Which currency pair are you trading? It appears you are only making 1 trade per day and you have a 100% win rate and you risk 10% of your account balance on each trade, is that correct?
Im using mt4.signal for asctrend can also be found at www.gordago.com/?act=indic
how do you close the position? for example I'm long...and on the 5 min chart there is the cross of the 2 moving average...what do you do? Do you close or do you wait the same signal on the 15 min chart??
It seems a very good system...
I plotted the indicators on the eur/usd and in most cases when the Asctrendsig is indicating a trade the yellow line of the ADX is nearly always in a downtrend and by the description of the method it needs to be in an uptrend with both ema's separating. I also see some false signals which would have you out of the trade with a loss. I really don't understand how you can have a 100% success rate with the information provided. My understanding of the ADX yellow line is if the value is above 25 regardless of whether it is in a uptrend or downtrend the >25 value indicates the strength of the price trend is stronger whether the price trend is up or down. Can't argue with 100% success rate but I can't see it with the information provided. Also risking 10% of your bank on each trade would be to high normally but that is based on the fact you will have some losing trades. I would not risk more than 1% or 2% myself.