BUY FXO Forum Shares
1316
Shares in the BANK:
We BuyWe Sell
$1.8467$1.9038
Results 1 to 2 of 2

Thread: A trading system with no indicators?

  1. #1
    Bullish
    Join Date
    Mar 2009
    Location
    Mountains of colorado
    Posts
    59
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 1 Time in 1 Post

    Default A trading system with no indicators?

    Yup ... and it isn't that hard, as long as you are willing to be patient.

    It is early in the Asian session still for March 13, 2009.

    Take a look at the 1 hour chart for USDJPY

    What you will see is several very strong trends.

    Here is how this system works.

    1) wait till you can SEE THE TREND. It should be sticking out like a sore thumb
    2) place a trade in the direction of the trend with an initial 50 point stop loss
    3) run a 30 point trailing stop

    That's it.

    This works well for currencies that are showing BOTH strong trends, but some volatility (such as my USDJPY example).

    When a currency is fairly regularly trending several hundred points, then bounces and reverses direction for 100 or more, then bounces again ... etc.

    This strategy typically works best on the 1 hour chart and will function quite nicely on any of several currency pairs at the moment.

    Some points ...

    1) WAIT FOR THE TREND TO BE OBVIOUSLY VISIBLY BY SIGHT.

    Jumping early will get you killed, and there is no need to utilize the 2 MA "trick" to see it either.

    2) Don't worry about trying to find the top. Let the trailing stop manage your exit.

    You may want to experiment with different trailing stop settings. The last couple of weeks, with USDJPY, I have had to adjust the trailing stop to 40 as a result of increased volatility.

  2. #2
    Bullish
    Join Date
    Mar 2009
    Posts
    86
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Many of my funds are invested on this, hope you are right

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Disclaimer
2005-2016 © FXOpen All rights reserved. Various trademarks held by their respective owners.

Risk Warning:: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgment as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

FXOpen Markets Limited, a company duly registered in Nevis under the company No. C 42235. FXOpen is a member of The Financial Commission.

FXOpen AU Pty Ltd., a company authorised and regulated by the Australian Securities & Investments Commission (ASIC). AFSL 412871ABN 61 143 678 719.

FXOpen Ltd. a company registered in England and Wales under company number 07273392 and is authorised and regulated by the Financial Conduct Authority (previously, the Financial Services Authority) under FCA firm reference number 579202.

FXOpen does not provide services for United States residents.

Join us