Look for main trend on the 4 hour chart
Trade using the 15 min chart
If the trend on the 4 hr chart is down then enter only SELL trade
If the trend on the 4 hr chart is up then enter only BUY trade
4 hr chart setup
EMA 5,10
S 10,3,3 slow and simple
RSI 9 and simple
15 min chart setup
EMA 5,10
S 10,3,3 slow and simple
RSI 9 and simple
MACD 12,26,9 exponential histogram
BUY:
EMA 5 cross above EMA 10
RSI > 50
S is heading up and not overbought
MACD goes from negative to positive or negative and increasing value
SELL:
EMA 5 cross under EMA 10
RSI < 50
S is heading down and not oversold
MACD goes from positive to negative or positive and decreasing value
Showing posts with label fx. Show all posts
Showing posts with label fx. Show all posts
Tuesday, January 6, 2009
Trading Pattern - 30 Minutes
30 mins chart setup
EMA 4, 60, 200
S 20,3,3
MACD 5,25,1
BUY:
EMA 4 cross EMA 60 upward and price is above EMA 200
MACD and S must be going UP
Do not trade if EMA 4 crossed EMA 60 more than 90 minutes ago
SELL:
EMA 4 cross EMA 60 downward and price is below EMA 200
MACD and S must be going UP
Do not trade if EMA 4 crossed EMA 60 more than 90 minutes ago
Do not trade within 2-3 hours of a major news and more effective if traded between 1am - 11am
Valid but risky if above/below criteria is not met but price is at least 30 pips away from EMA 200
EMA 4, 60, 200
S 20,3,3
MACD 5,25,1
BUY:
EMA 4 cross EMA 60 upward and price is above EMA 200
MACD and S must be going UP
Do not trade if EMA 4 crossed EMA 60 more than 90 minutes ago
SELL:
EMA 4 cross EMA 60 downward and price is below EMA 200
MACD and S must be going UP
Do not trade if EMA 4 crossed EMA 60 more than 90 minutes ago
Do not trade within 2-3 hours of a major news and more effective if traded between 1am - 11am
Valid but risky if above/below criteria is not met but price is at least 30 pips away from EMA 200
Terrible Day
I stepped outside of my trading scenarios yesterday and I lost all my profits in 10 minutes. I was tired and my judgment was terrible. I need to stick to the trading pattern and not deviate from it. I need to add a new rule to stop trading if I suffer a large loss. I will post the transactions summary tomorrow.
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