I am a long time member and first time poster. I would like to share the way I trade with the group.
To be honest, this is not my creation as it was given to me as part of the currency meter I purchased. I want to be clear so that if you see the same system elswhere, you know I am not the creator. The original system is The V5 System.
I am sharing this because it has some merrit and the simplicity of it making it very good for newbies as I am.
The trading system is very simple:
Currency Meter V5 or any other meter
2 EMA crossing
Unfortunaltely, the meter is a commercial indicator. All I can do is post daily screenshot of the meter for you to see.
The EMAs are freely availlable on any trading platform and chart.
They are 3 kinds of currency meter in the market. Anyone of them will do. You can search for them online under currency meter keyword.
I think you may be able to find some free tool that can help you bypassing buying a meter. All you need is something that can tell you where each currency pair is moving.
Here is how I trade my system.
Using the currency meter, I spot currencies that are moving in one direction and combine with others that are moving in the opposite direction to create a pair that has a great trading potential.
Once I have the pairs that I like, I place EMA 12 and EMA 5 into my chart and trade the crossing and the direction of the trend for these pairs.
Here is how the Trade scenario goes:
I use the D1 and H4 as my Master Trend. These give me the overall market direction
I use the 15M or the 30M for my entry into the market. I only enter the market using the smaller time frame. I only enter after the smaller time frame has been pull back and against the main trend and is about to move forward.
Stop loss is about 30 to 50 pips and Take profit is about 30 to 200 pips.
Here is today's meter stats.
Base on this meter, we can sell GBPCAD.
This would be one of the best pair to analyse for trading.
In addtion, other currency can be combined with GBP or CAD to trade as well.
EURGBP can be Bought
Today mrbey closes early.
I only took on trade today.
Bought AUDJPY since the JPY was weak and aud was strong.
GBP seems to be moving up very well.
GBPJPY: Intermediate term trend and the short term thrend is up. So a lot of pips can be make using that. We already know that the longterm trend is up.
JPY is down across the board according to the currency meter.
I am looking at the smaller time frame to enter. There is a 200 pips possibility tonight.
Right now there consolidation in the 15m 30M and somewhat 1H.
The nect Entry may at 157.62. wemay buy it lower if the consolidation continue down.
Used the 5 and 12 for a nice angle separation in the smaller time before entering.
Here is the latest meter reading:
thank you for the indicator please show the links
plz share your software
thank you please show me the links
Thanks for sharing your system with us. Do you have any profit reports?
It has been a while since i post anything on this forom.
Yes. The meter v5 works for me.
I am looking for an Indicator that provide buy, sell, Sl and TP signal.
Anyone know where I can get one?
The only I have seen is $250. I did not want to pay that much and I do not want to subscribe to an alert service.
abgcompu - basically, what you are looking for is an EA, with a bit more control on your side.
You can just select any EA and set it to 'Require manual confirmation' so you can handle its trading manually, and confirm.