1/22/2024 0 Comments CrossOver freeForex trading carries the potential for substantial gains and substantial losses. This post is for academic and entertainment purposes only. I will try my best to test this system and post the results continuously for everyone. It is incredibly effective at catching the trend for 100+ pips! When you get both of these signals, you can enter a trade with confidence because these are VERY STRONG SIGNALS. Make sure both the EMA’s cross AND the RSI is crossing 50 in the direction of your trade. ONLY USE THE 1 HOUR CHART! DO NOT GO LOWER! Of course, you could omit any initial S/L and trade with a smaller contract size to provide plenty of margin, and THEN once the trade moves in your favor set a break even S/L, but that’s RISKY (but maybe you are a daredevil ))! NOTESĪlways move your S/L after you are in profit so that you break even. After 40 pips, set your S/L to 20 pips profit, etc. Once the trade moves in your favor by 20 pips, I’d set your S/L to break even. Experimentation will yield the best results. Most trades will be winners in the long-term, but I’m uncertain of an exact win-lose ratio. I recommend setting a T/P between 50 - 100 pips. Just by glancing at some recent data, the average hourly trend seems to extend beyond 100 pips before reversing. This depends on your trading plan (everybody should have a plan) and money management rules. I’ve attached a picture which demonstrates all these conditions. RSI must be approaching 50 from the TOP and cross 50 to warrant entry. RSI must be approaching 50 from the BOTTOM and cross 50 to warrant entry.Įnter SHORT when the Yellow EMA crosses the Red EMA from the top. WHEN TO ENTER A TRADEĮnter LONG when the Yellow EMA crosses the Red EMA from underneath. I recommend sticking to the main currencies and avoiding cross currencies (just my preference). Virtually any pair seems to work as this is strictly technical analysis. I use Alpari and this translates into the penultimate (one just previous of the highest) magnification. Zoom in quite a bit on your chart so that the candlesticks and EMA’s are very large. RSI (10 - Apply to Median Price: HL/2) – One level at 50. If you properly follow the system, I strongly believe that you can easily gain 100+ pips per day with very few losing trades! This system is incredibly simple yet unbelievably effective. While I have made one important change, I must stress that the heart of this system was created by someone else! We must give credit where credit is due! I got the main concept for this system on another site.
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