I've been working sooo very long on trying to creat a successful forex system. I've bought tuns and tuns of systems and have downloaded thousands of indicators. My history is 3 years in the forex trading world and have had some successes and many failures, mostly due to poor money management for the failures. After many years of losses I'm finally on to something. I wanted my trading to be easy and my charts not to be loaded with billions of indicators. so I came up with a method of trading that uses 3 indicators. It's simple and is based upon one of the best indicators for trade entry's, The (Stochastic).
Always trade only once a day, no matter if it be a loser or a winner!!!!!!!
You have one shot at a winning trade. Make a good choice!
Trade only on the GBPUSD for now. This strategy works well on other pairs but does give best results on GBPUSD
Never risk mor then 10% of your account for your one trade per day
Stochastic cross up. You must enter upon opening of next candle after cross. This is important. (See pic) Also, Fisher4 indicator must be blue. If there is a stochastic cross and fisher indicator is not blue do not enter the trade. when these 2 indicators agree you enter your trade with a 20 pip SL and 20 pip TP.
I like to take the emotions at of trading that's why I have set TP an SL. This is a set and forget strategy.
same as long entry but opposite direction. Wait for stochastic cross down and Fisher indicator to be red. set a 20 pip TP and 20 pip SL.
This system works best at volatile times. I'm a morning trader and trade 2-3 hours from 8-11 am mountain time. I haven't tested Europe session but you are welcome to do so. MOST LIKELY YOU WONT HAVE TO WAIT 3 HOURS FOR YOUR TRADE. YOU'LL GET YOU'RE 20 PIPS USUALLY IN THE FIRST HOUR OF WATCHING THE CHARTS. Remember, I have a 3 hour bracket of time i use to trade this system other time frames may not be as successful.
Trading at the times I've mentioned has given me win rates of 80-85% over a 1 months time frame.
I hope that some of you out there can find some success trading this system. Let me know if you find other trading hours that are successful. also, feel free to demo on the majors as well. System has been tested mostly on the gbpusd but it doesn't mean that this is the only successful pair. Good luck and I'll be here to answer questions. Also, let me know if you have any suggestions on improving the win % even more
(Latest version will always be on front page!)
Here is a pic of when you would make a trade. You have your pick. you must enter on the opening of each candle that has a horizonal black line over it.
i can not download the indicators,please check it
let us wait.. his attachments are still pending
"Forex trend" indicator is "Solar wind" indicator
One place to look at as of what "Solar wind" is is here : https://www.mql5.com/en/forum/179650
5M and 15M is not easy at all
Hi, lilredry,thanks for sharing.I didn't understand what is your time sone. ?
That's interesting, thank you!
still using indicators?
I read your first paragraph and I thought that I was reading sometime that I posted while sleeping last night. I am with you on the 3 years, Tons of garbage, tried 1000's etc.
What shocked me, is that after 3 years, you still are using the same strategies as you would in your first trading year.
I believe that all traders do come across a successful trading system, but most do not have the discipline to follow the strategy. You even said it yourself. So, I think the reason why your system is working now, is not your strategy, but your level of patience and method of execution.
You have a solid game plan and you have your rules, out in front of you and this is solely why you are kicking butt and making good trades.
I hope your discipline stays at the highest peak, and I hope your stochastic ind. doesn't let you down.
I think we trade too much , i.e. more than 8 transactions a day (1 lot each ) is far too MUCH !!
accurate forecast-ability -- then it is a better system
Thanks for your replies so far!
Yeah, having a trading plan is so important and I didn't even realise it till at least 2 years into trading.
I forgot to say, This system only trades on the 15 min chart!
yes, the Scalping indicator can repaint. It repaints less then many other indicators out there but yeah, that's why you have to wait for both indicators to agree before entering a trade. I pulled in over 600% gain last month alone using this method. I had 24 trades, 21 winners and 3 losers. Less is more and when you only have one trade to execute per day I guaranty you'll make it a good one. don't spend all day looking at the charts. It could ruin your family life or start bad habits. Trading more is not the key to success but the forex market likes to make you think it is.
I lost 30k in the forex over a span of about 6 months and was forced to stick to a trading plan. otherwise, I bad things would have happened like my wife leaving me and me going broke. I neede a good system that could give me the wins though. finally found it.
Also, you will never need more then 5k starting balance in your forex account to start. I prefer, small to big. Try a 500-$1000 account. a 500-700% gain in a month is huge on these!