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The Simplest Forex Strategy

wilfredoaa (wilfredoaa)
Nov 04 2010 at 05:54
82 posts
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.


Grace is the greatest thing ever!
mmccor05
Nov 04 2010 at 07:49
5 posts
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

wilfredoaa (wilfredoaa)
Nov 04 2010 at 15:37
82 posts
yes Matt.

Grace is the greatest thing ever!
wilfredoaa (wilfredoaa)
Nov 04 2010 at 15:39
82 posts
My skype user id is wilfredoaa if anybody has skype by any chance.

Grace is the greatest thing ever!
wilfredoaa (wilfredoaa)
Nov 04 2010 at 17:06
82 posts
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

Grace is the greatest thing ever!
rolfwidmer (rolfwidmer)
Nov 05 2010 at 06:37
36 posts
an idea would be trading from H4 but in line with the D1 trend.

mmccor05
Nov 05 2010 at 08:31
5 posts
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

wilfredoaa (wilfredoaa)
Nov 05 2010 at 17:18
82 posts
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.


Grace is the greatest thing ever!
mmccor05
Nov 09 2010 at 02:45
5 posts
Definitely looking forward to the video.

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

Matt

wilfredoaa (wilfredoaa)
Nov 10 2010 at 01:51
82 posts
The Fibo Expansion doesn't work for the same time frame. It has better results if you use it on Day charts. One thing that can help you signal the end of one line or the beginning of another one is cruising to smaller time frames. So lets say 15m is forming a down line and you are trading an up line on h4.. this could give you a warning that price action is changing.

The other thing is when you see small lines form on smaller times frames real quick that usually confirms longer movements down.
I will make videos but I am still testing some stuff. They should be available soon.

Grace is the greatest thing ever!
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