Consolidation Buying System,
Heres a system that has some high potential so first let me lay it out for you..
The system is based on using two things.. price action and a simple moving average
in a nut shell heres the system..
(example long.. reverse for short|| EUR/USD)
TF = Daily
1)check if the 21 SMA is heading up to determine the trend and confirm with 21 > 50 SMA
2) wait for an inside day.. (inside bar)
BUY STOP = high of inside bar + 5 pips
SL = 50 pips
TP = 100 pips (twice the stop)
3) dont move order unless new inside bar(with rules 1 and 2 still met) than we move pending order.. and don't close your orders unless rule 1 is broken
so you can see its basically all about taking a non greedy amount from the trend
(BACKTEST) you can glance at the back test to get a rough insight into the system.. it shows a working method for over 10 years even after risking 5% per trade
Heres where things get tricky.. lets be honest.. theres a lot of crap systems out there.. this method is decent so I share it with you for you to kindly provide some of your own results.. in other words..............
This method will not get you rich tomorrow morning.. or even in a few years.. but it certainly would keep you making money.. so I'm sharing it with you so you have a model of something that works for 10 years and is consistent.. maybe a few throw backs of how to increase it from consistently profitable to quit your day job profitable would be welcome.
I know I already scared away a bunch of people who are going to start looking at more systems.. good.. for those who remain at least you'll be off with a good foot rather than a system which is only profitable during a specific period of time
I hope you find this system insightful in some aspect,
NY
PS: EA, I provided the EA.. you can play with stoploss, takeprofit, percent per trade, and open and close hours (given its something like 9-18 mt4 time)
you can change the TF but daily is really your bread and butter...
PSS: This system doesnt take trades very often.. so its important to think about using it on other majors.. then you could be in more trades more often.. and your ROI would be greater over time since your in trades while out of the EUR/USD etc.. keeps the money flowing.
Heres a system that has some high potential so first let me lay it out for you..
The system is based on using two things.. price action and a simple moving average
in a nut shell heres the system..
(example long.. reverse for short|| EUR/USD)
TF = Daily
1)check if the 21 SMA is heading up to determine the trend and confirm with 21 > 50 SMA
2) wait for an inside day.. (inside bar)
BUY STOP = high of inside bar + 5 pips
SL = 50 pips
TP = 100 pips (twice the stop)
3) dont move order unless new inside bar(with rules 1 and 2 still met) than we move pending order.. and don't close your orders unless rule 1 is broken
so you can see its basically all about taking a non greedy amount from the trend
(BACKTEST) you can glance at the back test to get a rough insight into the system.. it shows a working method for over 10 years even after risking 5% per trade
Heres where things get tricky.. lets be honest.. theres a lot of crap systems out there.. this method is decent so I share it with you for you to kindly provide some of your own results.. in other words..............
This method will not get you rich tomorrow morning.. or even in a few years.. but it certainly would keep you making money.. so I'm sharing it with you so you have a model of something that works for 10 years and is consistent.. maybe a few throw backs of how to increase it from consistently profitable to quit your day job profitable would be welcome.
I know I already scared away a bunch of people who are going to start looking at more systems.. good.. for those who remain at least you'll be off with a good foot rather than a system which is only profitable during a specific period of time
I hope you find this system insightful in some aspect,
NY
PS: EA, I provided the EA.. you can play with stoploss, takeprofit, percent per trade, and open and close hours (given its something like 9-18 mt4 time)
you can change the TF but daily is really your bread and butter...
PSS: This system doesnt take trades very often.. so its important to think about using it on other majors.. then you could be in more trades more often.. and your ROI would be greater over time since your in trades while out of the EUR/USD etc.. keeps the money flowing.
Attached File(s)
Consolidation Buyer.ex4
13 KB
|
492 downloads
Consolidation Buyer.mq4
9 KB
|
612 downloads
Consolidation Buyer BackTest.zip
24 KB
|
449 downloads