Learning Cycles For New Traders - page 13

[PRIMAjaya]

Sounds very easy and simple..

Can I use your system with other pairs? such GBP/USD or EUR/USD.. because GBP/JPY is very risky and wide spread...

[bluto]

Dan7974:
THIS SYSTEM OF MINE WORKS, SO READ AHEAD IF YOU WANT TO BE PROFITABLE.GIVES YOU AN EASY 500 PIPS A MONTH. NOT KIDDING.SOUNDS CRAZY?WAIT TILL YOU TRY IT OUT. GOOD LUCK!

Picture example will be posted in a couple of hours.

Set-Up:

At least an account that can withstand 500 pips. A $500 mini account would be great. Open it up, and watch it grow.

1) Open GBP/JPY, H1 Interval

2) 2 Moving Averages

- 60 Linear Wieghted of the high

- 60 Linear Weighted of the low

Entry Rules :

1) When GBP/JPY closes above the 60 Linear of the high, buy.

2) When GBP/JPY closes below the 60 Linear of the low, sell.

Trading Rules :

1) Stop is at the opposite moving average.

ie., if sold(close under the 60 of the low),Stop is the close above the 60 of the high.

2) Trade 2 lots. Breakeven to +10 Pips on both lots when price passed 50 Pips in Your favor. First lot exit is + 75 Pips. Second lot exit is at + 150.

3) If the bar's body that closes past the MA is more than 70 pips high, avoid the trade.

I would really like it if somebody can code and EA for this method. Also, this method needs to better, to reach 1000 pips a month, so we need to try to filter the losses. I am NOT saying this is a bad method...it just needs to be better, you know?

Any questions? I would be happy to answer them.

Again, I am going to post a picture example in a couple of hours.

Dan.

Sounds a bit like "The River" method.

[sopier]

Tkimble

I've seen this strategy posted in FF by Tkimble.... the different thing is Tk using 50 LWMA and you using 60 LWMA

[Dan7974]

sopier:
I've seen this strategy posted in FF by Tkimble.... the different thing is Tk using 50 LWMA and you using 60 LWMA

I use differnt Moving Averages, different stop, different limit, different lots, different rules, and when I say that, I really mean it.

[Dan7974]

Here is a picture example

The example of the trades I made.

[bluto]

Nice method there, Dan. Thanks for the chart.

[Dan7974]

Different timeframes and/or moving averages

primajaya:
Sounds very easy and simple.. Can I use your system with other pairs? such GBP/USD or EUR/USD.. because GBP/JPY is very risky and wide spread...

I You can try it out if You want to. But You need to adjust the moving averages and/or timeframe. I wooul really suggest You try Usd/JPY, but You need to adjust the Moving Averages.

[Dan7974]

Code EA?

bluto:
Nice method there, Dan. Thanks for the chart.

Can You code the method please?

[drayco]

Interesting rules. Personally i don't trade the guppy, instead i like the pound. Do you have rules for pound?

[Dan7974]

drayco:
Interesting rules. Personally i don't trade the guppy, instead i like the pound. Do you have rules for pound?

Sorry, I don't. We can make some.