Greetings fellow traders,
I’ve been Forex trading for just over 4 years now, and would like to present a system of trading that I’ve just developed. Please don’t ask for live trading results as I have none so far, only lots of back-testing which shows a successful method. Here are the benefits of this system:
I’ve been Forex trading for just over 4 years now, and would like to present a system of trading that I’ve just developed. Please don’t ask for live trading results as I have none so far, only lots of back-testing which shows a successful method. Here are the benefits of this system:
- One hundred percent mechanical, no discretion needed. All traders should get the same results (except with regard to differing brokers’ quotes, timeframes, etc.)
- Price Action only (naked trading)—only range bars. No lagging indicators used.
- Range bars used (time-element removed, only price is shown).
- Successful in both trending and ranging markets.
- Reward to Risk is 2-1 (minus spread) on trending aspect, ranging is even better.
- Tested on GBP/USD only but because it is Price-Action based, will work on any pair.
- Alert system used to notify when to place trades.
- Set and Forget once trades are placed.
- Alert system used to notify outcome of trades.
- Can be traded at any time, any session.
See next posts for rules of this thread and the posting of the actual trading system.