mornin ,heres a little trade i did this morning with this set-up,as you can see on chart 3,all the signs i look for were there,so entered with 2 lots at around 8am (gmt) and took my exit (chart 4) around 1115am (gmt) made 16 pips on it,im happy with that was gonna exit trade soon anyway cos i think theres a news break around 1230pm(gmt),
good trading all........the stellaman
here was another trade i made on this morning on the gbp/usd 30 minchart
good trading all..............the stellaman
2 things:
1) EXIT STRATEGY. Entries are fairly easy in Forex. It's the EXIT that has to be explicitly defined over and over again in your head.
2) System timeframes. Find your best and stick to it in the beginning. THEN start using other timeframes. Same with currency pairs. It's easy to know who's demoing and/or mini-trading -- they're trading every and any pair. When you begin as a career, you should trade 1 pair maybe 2.
Good luck
hi guys (and ladies of course too),
nice to be here at your forum.im only a newbie at forex,been demo'in for about 3 months,and poping in and out my "live" account now and again,right to the point now.........heres my little "system" ive came up with(probably about 9 million others using the same thing anyway was hopeing some of you more experienced traders would look her over and tell me what you think of her,good or bad.i know theres quite a lot of indicators here,6 in total,but i find them really easy to use...............
right this is my theory.........
indicators 1 - triggerlines 2 - silvertrend signal 3 - ma crossover signal
4 - solar wind 5 - osma 6 - rsi
and heres what i do,get a signal from triggerlines(this usually happens first)then within a bar or two a signal from both silvertrend and ma crossover(most times these happen almost together,as you can see in the charts,the small red arrow inside the white arrow sometimes,if not together got to be close)then confirm with solar and osma going in the direction of the trend and rsi at 50 or below if down trend and above if up trend,the solar,osma and rsi seem to do pretty well at filtering out the false signals.on the charts the areas shaded blue are where i entered my trades yesterday,took around 70 pips(but i was up most of last night to,as i am again )it could have been more,but my trigger finger gets reall itchy when im in profit on a trade,so thats about it,let me know what you think,and if iv copied someones system,i do apologise, i never meant it....no really i didnt
so all constructive critisism welcome ....just dont expect a christmas card
good trading all.........the stellaman
sorry should add this is on an 1 hour chartthanks for the tip's Pip Trip,glad you said relatively easy to find entry points,they have been rather good at avoiding me up until now,as for my exit strategy....well more a smash and grab just now rather than an exact exit strategy,on this system that im using which "so-far" seems rather good at picking out entry points,my aim is more to with as high a percentage as i can, pick out trades that will provide between 10 and 20 pip's per trade and buy more lots per trade rather than go for large gains in pips in a single trade,obviously if i see the trade is going in a good trend i set a stop loss and take some of my lots out in profit and let the others run,the obvious exit on this system would be when you have another signal to go in the opposite direction from the trade you are in and enter the new trade,but that does mean being there at the time,but i think primaraly for me it is to try and get a great hit rate of success with 10 -20 pips and buy in large lots, i set a stop loss of the previous high/low or a max of 20 pips wichever is greater and seems to be working,but you never know whats round the next hill,as for other time frames i watch the 15 minute and trade 15 chart as well as this seems to work on that time frame also,it also seems to work on the GBP/USD and the USD/JPY as well. i have only traded the EUR/USD and GBP/USD so far with it, at the moment 2 currency is enough for me.......phew that dragged on a bit, time for a stella i think........
have a good weekend all
good trading all........the stellaman
Good system stellaman
Maybe you should try adding parabolic sar to it to filter the signals further
Im not getting both the arrows at the same place. Could u disclose you inputs for silvertrend and macrossover
thnx
kev
thestellaman
do you have the code for the solar winds indicator you are showing on the charts? If so could you post it?
The CockeyedCowboy
How are placing Trades
Hi
How are you monitoring this? What version of Meta Trader are u using ??
Cheers
Stickman
which are the settings for the ma crossover signal and the silver trend?, which hours do you trade it? Does it work in smaller timeframes like 15 or 5mins?
stella, are u still trading this system?
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hi guys (and ladies of course too),
nice to be here at your forum.im only a newbie at forex,been demo'in for about 3 months,and poping in and out my "live" account now and again,right to the point now.........heres my little "system" ive came up with(probably about 9 million others using the same thing
anyway was hopeing some of you more experienced traders would look her over and tell me what you think of her,good or bad.i know theres quite a lot of indicators here,6 in total,but i find them really easy to use...............
right this is my theory.........
indicators 1 - triggerlines 2 - silvertrend signal 3 - ma crossover signal
4 - solar wind 5 - osma 6 - rsi
and heres what i do,get a signal from triggerlines(this usually happens first)then within a bar or two a signal from both silvertrend and ma crossover(most times these happen almost together,as you can see in the charts,the small red arrow inside the white arrow sometimes,if not together got to be close)then confirm with solar and osma going in the direction of the trend and rsi at 50 or below if down trend and above if up trend,the solar,osma and rsi seem to do pretty well at filtering out the false signals.on the charts the areas shaded blue are where i entered my trades yesterday,took around 70 pips(but i was up most of last night to,as i am again
)it could have been more,but my trigger finger gets reall itchy when im in profit on a trade,so thats about it,let me know what you think,and if iv copied someones system,i do apologise, i never meant it....no really i didnt
so all constructive critisism welcome ....just dont expect a christmas card ![](https://c.mql5.com/forextsd/smiles/regular_smile.png)
good trading all.........the stellaman
sorry should add this is on an 1 hour chart