MoonKing System (MKS)

[smi1er]

Hi everyone,

I'm based in London and work as an accountant. I've had enough of the rat-race and want to acheive my goal of quitting my day job and becoming a full-time trader.

I have been trading forex for just over a year now with mixed success and failure. I think I have made every typical mistake a newbie does make but I have learnt from them in a very painful and expensive way .

I have been developing a system which uses pivot-points, OsMA, ADX and MFI. I have named it the MoonKing System (MKS). Please let me know if there is a similar system out there.

I would like some others to give it a go and suggest any improvements, especially to the exit strategy.

Also I would be grateful if someone would code something to provide an pop-up and email alert.

I have attached the template and the pivot-point plotter. I have not attached the OsMA, ADX or MFI as they come with the metatrader platform and I use the default settings.

I have only used this system on the 1Hr timeframeon EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CHF, USD/CAD, EUR/GBP, EUR/CHF, GBP/CHF, EUR/JPY, GBP/JPY and CHF/JPY

Rules

Buy

1. Look for the blue line on the ADX to cross above the red line on the ADX.

2. The yellow line on the ADX should be turning up and between 20 and 35.

3. OsMa should be above the zero line, preferably just crossing.

4. MFI should not be above 80, preferably close to 20.

5. Price should have should have crossed a pivot / resistance / support level or be a good distance from surrounding levels.

6. Place a market buy order.

7. Place stop loss 5-10 pips (depending on your risk appetite) below the closest pivot pivot / resistance / support level beneath the entry.

8 Place take profit 5-10 pips below the closest pivot pivot / resistance / support level above the entry.

Sell

1. Look for the red line on the ADX to cross above the blue line on the ADX.

2. The yellow line on the ADX should be turning up and between 20 and 35.

3. OsMa should be below the zero line, preferably just crossing.

4. MFI should not be below 20, preferably close to 80.

5. Price should have should have crossed a pivot / resistance / support level or be a good distance from surrounding levels.

6. Place a market sell order.

7. Place stop loss 5-10 pips above the closest pivot pivot / resistance / support level above the entry.

8 Place take profit 5-10 pips above the closest pivot pivot / resistance / support level below the entry.

Please let me know if I have left something out. (Its my first post .)

Look forward to hearing from you all.

Happy trading .

[rbk452005]

hi smi

thanks for sharing

[smi1er]

Some results from last week

Thanks rbk, let me know how you get on with it.

Attached are my trades from 18 November 2009 to 23 November 2009.

Hope its of some help.

[xx3xxx]

is it practical to be profitable -- when you try it LIVE ??

[[ trading is pretty much like auditing, when we see all these template, we have to audit it all over again ]]

give us some screen shot-- dump screen

[Iceman19999]

smi1er:
Thanks rbk, let me know how you get on with it.

Attached are my trades from 18 November 2009 to 23 November 2009.

Hope its of some help.

Smi1er

I know you have a down load link for the system. But it would be helpful for you and us if you attached a picture of your system. This way users can take a quick glance and see if they are intersted without have to down load the system.

[prasxz]

hi

hi smiler,

Thanks for your contribution ,yes better to attach your pic directly to this forum ...so everyone can see your system and research it..

===================

Forex Indicators Collection

[smi1er]

xx3xxx:
is it practical to be profitable -- when you try it LIVE ??

[[ trading is pretty much like auditing, when we see all these template, we have to audit it all over again ]]

give us some screen shot-- dump screen

Hi,

I have been trading it on my live Alpari UK account for the past week, on 0.01 lots.

Screen shots below of my set-up.

[swnke2]

How's Progress

Smi1er,

Quite interested to hear how trading is going, especially after what happened yesterday.

Your system has caught my eye and I'm following it closely. Thanks for sharing it.

[smi1er]

swnke2:
Smi1er,

Quite interested to hear how trading is going, especially after what happened yesterday.

Your system has caught my eye and I'm following it closely. Thanks for sharing it.

Hi swnke2,

Unfortunately I miss a lot of trades during the day due to my job. But I've attached my trades since my last update. I was trading a lot more last week because I had a week off. I'm off work today and have squeezed 30 pips out of AUS/USD so far.

I have 2 trades open at the moment, sell EUR/GBP -16 pips and buy GBP/USD -15 pips at present.

I'm also experimenting with a lower timeframe M30 with some success.

I've attached my results and also a screenshots of my open GBP/USD trade.

Hope this helps.

[smi1er]

Can anyone write an alert for this system?

As I am at work most of the day I miss a lot of good trades.

Can anyone write an alert for this system so it will email me if all the rules have been met?

I haven't got the programming knowledge to do it myself.

[smi1er]

GBP/USD is +48pips. ADX is still rising indicating the trend is strong.

EUR/GBP is +0.5pips. ADX is still rising indicating the trend is strong.