The Simplest Forex Strategy

Guys and Gals,

I am testing out a simple forex strategy. I need your help testing it.

I created a web page to explain it.

https://ewilfredo.com/simplestrategy.html

Check it out and try it and let me know how you did.
Give me some feedback on weakness or strengths you see.

Is a manual system based on Eur/Usd H4.

Trade at least 10 trades and let me know how many pips you won and how many pips you loose.
Please try it out on Demo accounts. Don't trade it with real money.

Hey Sir. Williams,

I just ran across your indicator, and am looking forward to testing it out.

Just to make sure I understand:

Looking at the EUR/USD 4 hour chart, it has been about 6 hours since a line painted, and we're currently in an uptrend.

Once a line finally does paint along the uptrend, I want to take a short position?

Thanks!
Matt

yes Matt.

My skype user id is wilfredoaa if anybody has skype by any chance.

In a sense those lines indicate support and resistance for the short swings. The other thing is if you leave the indicator on and then switch to daily charts. Draw a Fibonacci Retracement using the last line. You can go back to the 4 Hour chart where you are trading and get a nice idea of where price could bounce up next or potential targets.

I created a web page to explain this. Go Here https://ewilfredo.com/simplestrategy.html and click on Nov. 4 2010 live trade to review my previous trade and my current trade.

Or you can go directly to the update by visiting here: https://ewilfredo.com/nov4trade.html

an idea would be trading from H4 but in line with the D1 trend.

Have to say, this is looking pretty good so far.

One suggestion though: I seem to always miss the initial printing of each line, and therefore enter the trade late (or not at all). Would it be possible to make it beep or something when a new line is printed?

Thanks!
Matt

Thx for the input guys. We are making history on this system because this system is being made as we go. I think you have a point Rolf and Actually... I am going to production of video using cam studio to go more in depth about it over the weekend.

I made a discovery on how this strategy will work amazing with a Fibonacci projection allowing you to trade either Daily charts or H4 time frame. So this way mmccor05 you won't missed the lines and know exactly how far you are in price and have profit targets and have more ideas on where the price is going. Giving you a foresight of the market.

Now the fibonacci projection is not the same as Fibonacci retracement, this is going to be very interesting so be on the look out on how this tool will work. Hopefully I can finish the video production and have the update on Monday.

Definitely looking forward to the video.

Haven't lost a trade when I've entered right after a line printing.

Matt