Thursday, June 9, 2011

MY WAY OF TRADING FX

Just using this system at demo and it's quite successful...but the only problem is that its very time consuming...
Just opened a live account of micro lots to test this system, soo let see whether i can make money or not..Fell free to give your comments, so that we can learn from each other 

This is how to set up this system..
  1.  GO to H4: To identify what is the longer term trend
    •  Is it a bullish or bearish trend. Once satisfied, do draw the trend line.
  2. Go to H1: To identify medium term trend
    • Is it a bullish or bearish trend. Once satisfied, do draw the trend line
    • If unable to determine or its moving in side way.. Dont bother to trade or stay out until the trend comfirm
  3. If condition 1 and 2 have been met, proceed to M30
    • Identify the pivot point
    • check the trend
    • wait.. until either trend line 1 & 2 been broken
    • Once the trend line has been broken.. we're ready to trade but this criterias MUST BE MEET before placing an order
      • Buy setup:
        • Wait until it create HL (Higher Low from previous Low), it preferably if it has break the pivot point and stay above the pivot.
        • Wait for second candle to finish(for comfirmation)
        • If the second candle still doesnt break the pivot point then enter the trade with SL
      • Sell Setup:
        • Wait until it create LH ( Lower high from previous high) and it has broken the pivot point and maintain below it.
        • Wait for second candle to finish(for comfirmation)
        • If the second candle still doesnt break the pivot point then enter the trade with SL
        • Note; SL is put at the previous high level or at the pivot point
      • for further enhancement: also equip it with other technical tools for more clarification of entry,for me. i do use modified RSI.
The setup should look like this..


1 comment:

  1. elo2 bang..
    guna cara ni byk2 untung ke byk2 rugi..
    buleh cayo ke nie..

    ReplyDelete