I would like to purpose an idea to this community and see if anyone is interested in participating. Below is the idea:
***** Your Job***** 1. You share your favorite indicator and/or oscillator (just one) that you use when you invest in the fx market. Also, you must include why it is your favorite. You should also include how you use your tool.
2. You share your favorite currency pair (just one) and why it is your favorite pair.
3. You share your favorite timeframe (15M, 30M, 1H, etc) and why it is your favorite time.
4. You share your money management technique and why you use it.
5. You share your favorite hours (market sessions) to trade and why those hours.
6. You openly and politely discuss the above five items with other members within this thread.
***** My Job***** 1. I will help 'Formulate' an overall blueprint for an EA based on the ideas and suggestions that this community generates (The blueprint will be openly discussed in this forum.). I will also participate in discussions.
2. Once this thread comes to a conclusion on a 'perfect' EA, I will start programming the EA.
3. As the EA is being developed and tested a live account will be funded for you to track here on MyFxBook.
4. Once the EA is developed, tested, and completed it will be released FREE to the individuals that participated in this thread.
**** My Reasons for doing this ***** I love sharing my knowledge and helping others succeed in the fx market. Also, as this project progresses I would greatly appreciate individuals vouching for me. I would like to become an established member here at MyFxBook.
Finally, please share this thread with other MyFxBook members.
This was a method thought to me by kiwitrader back in 2008
I use 4 indicators...:
1. MA40 2. OsMA 3. Stoc 4. RSI
Basic Rules: Look on day chart...
EMA(40,close) is going long (at least 10 - 15 slips(2 to 3 weeks)) RSI is going long(Not above 70%) Stoc is going long(Not above 70%) Osma slip 1 is going long Osma slip 2 is going long Osma slip 3 - 6 is going short ####TAKE NOTE#### - this just helps anticipating reversal...
then move to Hour chart and wait for the same rules to apply... When this happens, enter as LONG trade T/P 50 pips, and S/L 100
If you enter the hour chart at the correct time you are almost always gonna hit T/P about (80% of the times) provided that there is not mayor news events
Money management is up to you...
I think thats about it, trades dont come to often, sometimes none in a week, and sometimes 5 in a week... works on most major pairs....
I am familiar with kiwitrader. However, its been a long time! I will set-up charts next week and take a look. I am very surprised this thread is not more active! :(
Also, some people have asked me if I back test. I do back test a bit, however, I have a dedicated account for live testing new strategies. I prefer live testing even if it means I lose a buck or two. I feel the data/results are much better!
Martingale system needs a lot of capital, hopefully you win before you run out of capital. If anyone wants me to create a Martingale system I will but you'll need to PM me. It's not a project I would do for this thread.
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