Hello everyone, Its been a while since I have posted but I wanted to share a super simple system that has been proven profitable. I hope this will help some of you. I did not create this strategy and it is nothing new. Its often overlooked because it's so simple but often times the simplest strategies can be the best. I have modified the original trading rules a little bit to rules that fit my trading style a little better.
Things To Keep in Mind:
1. This is intended to be traded on Daily Charts.
2. There is no Hard SL or TP to this system. I have not found any configurations using ATR or similar tools to place an SL & TP that improved the system. As a result I do not use one with this system and just following the signals.
3. This system is not perfect. As with all systems, it performs better on certain pairs during certain conditions. What really allows you to take advantage of the system and avoid this variance is diversifying the instruments you trade it on!!!
4. Test results used a fixed lot size that does not increase.
5. Tests were performed on 7 major USD pairs(EU, GU, AU, NU, UJ, UCHF, UCAD).
[b]Entry Rules:
Long:
1. Price is above 200 &50 MA. And pullback from 30 MA.
2. Price is below 5 MA.
3. RSI(2) is below 5.
Short:
1. Price is below 200 &50 MA. And pullback from 30MA
2. Price is above 5 MA.
3. RSI(2) is above 95.
EXIT: The Exit from the trade upon to you. I prefer 300Pips TP and 100Pips SL
[/b]Note: You can use other timeframe for more entry. But I would like to enter market once a day and Its perfect for me.
Example:
Buy:
Sell:
Things To Keep in Mind:
1. This is intended to be traded on Daily Charts.
2. There is no Hard SL or TP to this system. I have not found any configurations using ATR or similar tools to place an SL & TP that improved the system. As a result I do not use one with this system and just following the signals.
3. This system is not perfect. As with all systems, it performs better on certain pairs during certain conditions. What really allows you to take advantage of the system and avoid this variance is diversifying the instruments you trade it on!!!
4. Test results used a fixed lot size that does not increase.
5. Tests were performed on 7 major USD pairs(EU, GU, AU, NU, UJ, UCHF, UCAD).
[b]Entry Rules:
Long:
1. Price is above 200 &50 MA. And pullback from 30 MA.
2. Price is below 5 MA.
3. RSI(2) is below 5.
Short:
1. Price is below 200 &50 MA. And pullback from 30MA
2. Price is above 5 MA.
3. RSI(2) is above 95.
EXIT: The Exit from the trade upon to you. I prefer 300Pips TP and 100Pips SL
[/b]Note: You can use other timeframe for more entry. But I would like to enter market once a day and Its perfect for me.
Example:
Buy:
Sell:
