REVERSE - IMPULSE System
Sell
1. wait for a signal to happen… but don’t trade yet!!!!
2A. at this point the rsi should be in overbought condition (above 70%)…wait for the RSI to cross below the 70% and the RSI line should cross below the moving average line. This is an aggressive approach.
2B. This is the conservative approach, at this point the rsi should be in oversold condition (above 70%)…, wait for the price to again make a new high and the rsi to make lower high. (for short, wait for divergence). The Rsi line should also cross below the moving average line. This is the entry point.
IF YOU ASK ME IF I USE THE AGGRESSIVE OR CONSERVATIVE??? IT DEPENDS, AS A PRO ELLIOTT WAVER, I KNOW WHAT SIGNAL I WILL TAKE. BECAUSE I KNOW THE MARKET LANGUAGE. EXAMPLE, I CAN USE THE AGGRESSIVE APPROACH IF I SEE AN ENDING DIAGONAL,, ETC…
OF COURSE IT, FOR THE NEWBIES , I ADVICE TO USE THE CONSERVATIVE APPROACH.
MM.
This is the most important!!!!
- Only risk 2% max
- ALWAYS MOVE stop to Breakeven if possible. On eur/usd. I move it ASAP! On +10 pips! Dont ever turn a winner into a loser!
- For Impulse signals, I only use a max stop of 30pips
- For reversal Signal, Stop is placed just 10 pips above or below the swing.
- Don’t stick to 1 pair because there are times that we are forced to trade that pair even though the signal is not valid… the is no discipline in this and will make a lot of loss. Hello, don’t make something out of nothing!!!
Notes
This system really works, and I have tested it, im sharing a basic version on EUR/USD pair for you to try it. Try this first on a trading simulator for you to see how it works
Below is the link where you can download the simulator:
New Trading Simulator, Gain Experience Faster @ Forex Factory
If you found the system to be working / not working for you, pls comment here or message me personally.
If you think that it is profitable & you want a pro version & trade different currency pairs, you can get it from me but it’s not for free since i it took me a lot of years to create this. Everything has a price.
You can contact me at
skype : fxsuccessor
Donwload the indicator & template below to try it
thanks for your sharing fxsuccessor...
its similiar with RSIpaint scalping system,with rsiperiod8 and ma period3.and yes,this system(rsi+ma) really works and profitable... 
thanks
we can also post our live trades here. 
ok. have tried on simulator & really worked! what is the best pair to trade this? can you post some of your trades?
the indicator i uploaded is only for Eur/USD. try it on other pairs and you will not like the results.
If you ask me, what is the best pair? personally, EURJPY is the best becasue of high volatility & low spread. small swings can easilly generate me 50 pips. and impulse signals are really profitable and easilly gives of 100 pips.
each currency pair has an optimized setting because it behaves differently.
ok, to give an example. i have taken the last signal on EUR/USD last friday.
sell reversal, conservative entry
test
tried it in simulator, this was by best 3 day result. with risk=3% per trade. backtesting the simulator is very nice. but i notices some bug in the simulator. it automatically closed my position so i stopped it on the 4th day. i gained 70% by just trailing my orders at taking profits in round numbers & Supports & resistance.
and impluse signals are like holy grail! hohoho. they really work!
will test more times
thanks fxsuccessor! great contribution
Thankyou for sharing this FXsuccessor
Are you planning on sharing this for other pairs as well? EURJPY would be good to test
you're welcome have you tested it?
sorry bro, i cant give everything for free, i took me many years to create this. EUR/USD is ok.
if you plan on the other pairs, you can buy it, its just like a small contribution on my part . for me, its a good investment.
Thanks
the fx market is big enough to make any amount of money you want , why sell ur idea if you already make 6 fig from it.
dont be a karl
I understand, just that there aren't too many signals per session and a lot of screen watching time
Thankyou anyway, will forward test this for a few hours a day and hopefully catch some signals
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Hi to all,
I’m a pro Forex trader, been trading for 7 years, of course, got wiped out a lot of times (during my first 2 years) because I was switching from system to system and can’t make it work & also trying to find a good EA that will make me money.
To cut the story short, you can’t really make money in Forex if you don’t understand its language. After that, I extensively studied EWP (Elliott Wave Principle). I started to earn money on my 4[SUP]th[/SUP] year of trading. Started on a $500 account, and made it 32,000 in a year. I was gaining approx. 30% a month with just risking 1-2% per trade (no hedge, no martingale, cost averaging). It was not luck, because I was consistent. Now I’m earning 6 digits a month consistently. I’m also managing the accounts of my relatives, not because I want to help them,, because they are my family.
Based from my style of trading, the best way to make money is to enter in an IMPULSE wave. But if you can’t count waves properly, it is hard to realize it.. It is also good to enter after a C wave (reversal type) but it is more risky but generates massive Risk Reward Ratio!!! Remember a trade that pulled me 1:20 in Eur/Jpy J hahaha
For those of you who are “super pro” at Elliott wave, just ignore this thread. But for the ones who don’t know what are they doing, this could be good help. I created a system that is based on that.. Actually, I use this system in managing my relatives’ accounts and some PAMM. I created this system because it is hard to manage a lot of accounts with diff risks. (My aunt wants me to risk 5% per trade because she is confident that I could win) hahaha. There is NO EA in this system because you will decide if you take the signal.
OK let me explain this quickly:
The Main indicator generates 4 signals..
1. Buy - Impulse Signal (high prob.)
2. Buy - Reversal Signal (high RR)
3. Sell – Impulse Signal (high prob.)
4. Sell – Reversal Signal (high RR)
Indicator:
This indicator scans price as a tick basis. So there will be multiple signals, on a single candle. Wait for the candle to close and the signal to subside before deciding. EXEPT FOR IMPULSE SIGNAL, when it generates a signal, don’t hesitate and take action immediately!!!!
Chart Setup:
Entry Rules
This indicator scans per tick, so it’s better for you to try in a trading simulator and see how it operates!! IDON’T WANT ANY COMMENTS REGARDING REPAINTING ISSUES BECAUSE IT CREATES MULTIPLE SIGNALS PER CANDLE TICK AND ONLY LEFTS THE VALID SIGNAL AFTER CANDLE CLOSE.
IMPLUSE SIGNALS
These signals don’t need any confirmation stuffs. If you see it, trade it. It has high hit rate! This occurs less often. Technically, this happens on the 3 wave of an impulse wave, in the point of recognition.
Buy Signal
Sell Signal
REVERSAL SIGNALS
These signals need confirmation; it will generate good risk reward ratios and happens more often. Technically, happens after a C wave
Buy Signal
1 wait for a signal to happen… but don’t trade yet!!!!
2A. at this point the rsi should be in oversold condition (below 30%)…wait for the RSI to cross above the 30% and the RSI line should cross above the moving average line. This is an aggressive approach because you could be entering early. But if the signal worked, this will generate the best RR ratio.
2B. This is the conservative approach, at this point the rsi should be in oversold condition (below 30%)…, wait for the price to again make a new low and the rsi to make higher low. (for short, wait for divergence). The Rsi line should also cross above the moving average line. This is the entry point.
Of you don’t know divergence, refer here
How To Trade Divergences | Trading Divergences | Learn Forex Trading
Usually, divergence occurs before reversing completely because it indicates weakness
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