I only trade daily charts and only EUR/USD, GBP/USD, USD/JPY and USD/CHF. Why these? Primarily because these are the only ones I have backtested and have been trading for the last 3 months. I also tend not to trade Monday mornings (Australian time) as prices sometimes gap over the weekend. However, this is discretionary.
On each chart I have an 8 period RSI. I also have an 8 period MA of the RSI and Bollinger Bands with a 20 period setting, also on the RSI.
Long Entries: RSI must be below the middle Bollinger Band. Enter long on the open of the next bar after the MA has crossed above the RSI.
Short entries: RSI must be above the middle Bollinger Band. Enter when MA crosses below RSI.
Stop loss is the low/high of the previous bar. I move S/L to break even if the price moves greater than 40 pips in my direction. After the initial 40 pip move I use a trailing stop for exits (25 pips).
I only look at the charts once per day, just before 0.00 GMT. This way I know which pairs are approaching my set-up. I then place trades if my criteria has been met. That's it. A simple system that seems to work for me. Looking at charts all day does not suit me as I have a real job and I'm not in a convenient timezone. 10 minutes a day is all I need. This method provides a limited number of trades but the trades can last anywhere from 1 day to numerous days. There can also be days on end with no trades. I have found that the secret is have patience. I also have come to believe those who say longer timeframes are easier, especially for newbies.
Correlation trading - no charts required
This is a correlation trading system that assumes we don’t know where price is going. It uses two currency pairs (EUR/USD and USD/CHF) that only trades long positions (no shorts). The system doesn’t use Technical Analysis. It's all about money management and collecting swap interest.
Rules:
1) Use small equal position size dependent on your personal risk (currently testing a $5000 trading account using .1 lot for each position taken).
2) Enter a long for both pairs.
3) Enter a 100 pip take profit for both pairs based on rule #2.
4) Enter buy stop for both pairs at the take profit level based on rule #3 with a 100 pip take profit.
5) For the losing pair, position average (based on all open positions) using buy limits every 200 pips with a take profit set to break even for all averaged positions. Reset buy stop at this price level with a 100 pip stop loss.
by PIP_CHASER
Hedge Grid Trading System
The Hedge Grid System assumes that the market will move sideways, since this is true most of the time the system will work well.
Basically we will open buy and sell orders (entry or pending orders) at the same price (hedging position) this two orders will have set a TP price. So as soon as one orders closes with profit we open two more orders (buy and sell at the current price, again this orders are entry orders). And create an entry order replacing the one that closed with profit. Here is a grid setup:
GBP/USD
SELL ENTRIES
ENTRY LOTS TARGET
2.0600 1.0000 2.0464
2.0460 1.0000 2.0324
2.0320 1.0000 2.0184
2.0180 1.0000 2.0044
2.0040 1.0000 1.9904
1.9900 1.0000 1.9764
1.9760 1.0000 1.9624
1.9620 1.0000 1.9484
1.9480 1.0000 1.9344
1.9340 1.0000 1.9204
BUY ENTRIES
ENTRY LOTS TARGET
2.0604 1.0000 2.0740
2.0464 1.0000 2.0600
2.0324 1.0000 2.0460
2.0184 1.0000 2.0320
2.0044 1.0000 2.0180
1.9904 1.0000 2.0040
1.9764 1.0000 1.9900
1.9624 1.0000 1.9760
1.9484 1.0000 1.9620
1.9344 1.0000 1.9480
These are pending orders, assuming 4 pips spread. For example lets say the current bid price is 2.0039 ask price is 2.0043, when the bid price reaches 2.0040 the ask price will be 2.0044, triggering a SELL at 2.0040 TP 1.9904 and a BUY at 2.0044 TP 2.0180 (tp are configured at 140 pips). We will call this ORDER 1.
ORDER 1 SELL 2.0040 TP 1.9904 BUY 2.0044 TP2.0180
Lets assume the price moves upward and reaches the next level (bid price 2.0180 ask price 2.0184) at this point the BUY order will close taking 140 pips profit. We open a second group of orders: SELL at 2.0180 TP 2.0044 and BUY at 2.0184 TP 2.0320. The current status is:
ORDER 1 SELL 2.0040 TP 1.9904 (Open -140 pips) BUY 2.0044 TP 2.0180 (Closed +140pips)
ORDER 2 SELL 2.0180 TP 2.0044 (Open) BUY 2.0184 TP 2.0320 (Open)
Cashed in pips: +140
Since we have 1 closed order, we must enter the same order at the same price (BUY at 2.0044 TP 2.0180) to mantain the hedge.
Lets assume the price falls to 2.0040 (bid) 2.0044 (ask). SELL #2 closes with profit. Since we have one sell currently open from the very beginning at this price only one pending order will be executed (BUY order). So the current status will be:
ORDER 1 SELL 2.0040 TP 1.9904 (Open 0 pips) BUY 2.0044 TP 2.0180 (Open)
ORDER 2 SELL 2.0180 TP 2.0044 (Closed +140 pips) BUY 2.0184 TP 2.0320 (Open -140 pips)
Cashed in pips: 280 Net profit: 140 (280 minus 140 from open orders).
So this is basically the idea behind the concept of trading the grid. We setup pending orders at different level prices, so when price reaches a level a BUY and a SELL order will be executed, once one closes at TP price, we only replace the one closed.
Like I said before Im demoing this system, and will do for at least a couple of months since this is a medium-long term strategy. The trick here is to use Daily chart as a reference of the price movement, and choose an appropiate grid gap size, for this example I used 140 pips on GBP/USD. Other currency pairs will need more or less grid gap sizes.
So, when will be the right moment to enter the grid?
Since this system doesnt work well if the price is trending and the original system rules didnt tell me when should I enter the grid, so I use RSI(100), when the level touches 50 I think is a good moment to enter, and RSI must be between 45-55, if RSI goes off this boundaries we should exit ALL positions. Another way to exit will be if you reach a 3rd or 4th level in your grid, but again, Im demoing and thats the reason I start this thread, to post my results.
I encourage you guys to demoing (if you havent done it yet) this system, and lets see the results. ok?
I will be posting my current grids status at night when I came home.
http://www.ea-performance.com/forex-strategies/index.php
Hedge Grid Trading System
Correlation trading - no charts required
The Daily Fozzy Method
Reload this Page Trend Hugger System
a very simple EURUSD strategy
The art of Trading MAs
Part Time Wealth Building Trading System - Weekly Scalping
Trading the Daily by Bobokus
OzFx System-100-800 Pips Per Trade
Hedge Grid Trading System
The grid hedge - the core version
Super Carry Trade Trading System by Dreamliner
PowerSwing System For Long term trading
ISAKAS METHOD by kuskus Osentogg
False Breakout Filtering
The 3 Duck's Trading System
Power Trading
Daily 95 pips
Scalping GBP/Jpy on 5 min chart-by Imran Sait
Between 40-100 pips per Day
45 Pips Per Day System Eur/usd
Weekly breakout system - SIBKIS
CatFX50
Daily Scalping
Simple Combined Breakout System for EUR/USD and GBP/USD
http://www.fxfisherman.com/forums/forex-metatrader/trading-systems/2870-amazing-gbp-jpy-indicator.html
Posted by suvarna lathahttp://www.fxfisherman.com/forums/forex-metatrader/trading-systems/2870-amazing-gbp-jpy-indicator.html
Rules Of Trading
Trade Only When Trend and Position Indicator Agree
Trade With Your Mind, Not Your Heart
Trade Actuarially. Trade With a Clear Goal in Mind !
Avoid Being A Psycho-Trader!
No System is Infallible! Risk No More Than 5 % Equity per Live Session
Accept Losses as Graciously as You Accept Profits
Get Potential Profit With Trailing Stop EA
If the price moves in opposite direction the system change the Stop Loss (SL) level so the worst
case scenario is that you exit this trade with break even, profit and minimize lost.
On MT4 minimum Trailing Stop : 15 but with this EA you can set only 5 point.
You can DOWNLOAD This EA For FREE in This LINK
and User Guide in This Link
Using this EA, You can set Take Profit (TP) at smaller Pips but with bigger Lot.
It Means, Making Bigger Potential Win at each Trade.
Remember Again: Please test the Indicator and the Trailing Stop EA in to your demo account first, better late then regret later.
http://forex-guides.blogspot.com/2007/03/expert-advisor-builder-for-metatrader-4.html
http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/index.html
http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/forum/viewtopic.php?t=2
In this morning I find interesting website. It guides you to make an Expert advisor for MetaTrader 4 yourself, although you are not a programmer or someone like that. You just need three steps to build it. Here the steps:
1. Add Logics and input parameters.
2. Input Order options.
3. Click "Complete!" button.
I think all of you can build a useful EA both for your trading and for some friends'
Introduction
Expert Advisor Builder can easily create Expert Advisor for MetaTrader 4. *Please enable JavaScript.
1. Add Logics and input parameters.
2. Input Order options.
3. Click "Complete!" button.
If you'd like to save/load your settings, click "Save"/"Load" button.
* What's New(21 Oct. 2007)
o 21 Oct. 2007 Change template tags and user interface design.
o 24 Apr. 2007 Add the 'Template', to use your own MQL codes.
o 3 May. 2006 Add the function of sending mail.Switch 'SignalMail' variable of the property.
o 11 Apl. 2006 Support trading multi currencies at the same time.(Attach EAs to charts of currencies you'd like to have it trade.)
o 28 Jan. 2006 Add 'Save/Load' saves/loads your settings to/from the file.
o 11 Jan. 2006 Add 'Variables' can make you easily input the same indicators/parameters, mathematical operations and more advanced operations.
o 7 Jan. 2006 Support the immediate reversal entry.
o 5 Jan. 2006 [BugFix] Entry signals and Exit signals had been executed at the same time.
o 31 Dec. 2005 [BugFix] The StopLoss, TakeProfit options hadn't worked.Please modify the following part in the file had already been downloaded.
StopLossLevel = Ask - StopLoss * Point; -> if (StopLossMode) StopLossLevel = Ask - StopLoss * Point; else StopLossLevel = 0.0;
TakeProfitLevel = Ask + TakeProfit * Point; -> if (TakeProfitMode) TakeProfitLevel = Ask + TakeProfit * Point; else TakeProfitLevel = 0.0;
StopLossLevel = Bid + StopLoss * Point; -> if (StopLossMode) StopLossLevel = Bid + StopLoss * Point; else StopLossLevel = 0.0;
TakeProfitLevel = Bid - TakeProfit * Point; -> if (TakeProfitMode) TakeProfitLevel = Bid - TakeProfit * Point; else TakeProfitLevel = 0.0;
o 28 Dec. 2005 Add 'Symbol', 'Timeframe' parameters to the parameters form.
o 27 Dec. 2005 Add an extern setting of "Magic number" to the exporting file and insert it in comment fields in the Account History Log.
o 27 Dec. 2005 Add the link to indicator's images and the Website distribute custom indicators on the parameters form.
o 25 Dec. 2005 Add 'Custom Indicator' and some custom indicators on the indicators form.
o 25 Dec. 2005 [BugFix] The export file could not be compiled.(Please make line feed code CR + LF, and save the file has already been downloaded.)
o 23 Dec. 2005 Change from 'Close logics' to 'Close(Buy) logics/Close(Sell) logics'.
o 22 Dec. 2005 Add 'Collapse/Expand' on the parameters form.
o 17 Dec. 2005 Release.
In no event will author be liable for any damages whatsoever, including direct, indirect, special, consequential, incidental, exemplary, punitive or other damages such as lost profits or revenue, business interruption, data loss, costs of Replacement goods or damages to your computer equipment arising out of or in connection with the use of, or inability to use, this site or any other hyper linked Web site or the information contained or services offered at any of these sites, even if author is expressly advised of the possibility of such damages.Please use at your own risk.
MT4 Expert Advisor (EA) - Over $4600 profit in 9 days
Get yours and make easy $ www.therobotrader.com
http://expertadvisorsfx.blogspot.com/
Introducing the Extreme Advisor for Meta Trader 4 (Auto Trading Solution)
If your Forex Auto Trading (Expert Advisor)
is not making thousand of dolors trading the
Forex market automatically in 1 month, you got a big problem, get rid of it and get the RIGHT SYSTEM!
Extreme Advisor system has taken over a year of testing and coding before coming to the market and this shows with the performance results. Trading forex is one of the few things that can make you immensely rich in a relatively short period of time and using this system even a complete amateur can trade the forex market successfully.
Please take a look at the performance below where you can see the trades detailed for last 4 months resulting in a clear profit, trading with full money management.
Extreme Advisor is 100% automated, simply attach the program to your Metatrader 4 (MT4) live trading account and then go about your daily business, this takes the emotion from trading and will not miss a trade night or day.
Most sellers of expert advisor given you an unbelievable results and such ridiculous claims , like you can make over 1000% return in 1/2 a year or making million of dollars in short period of time. If the system is so good then every body would be a millionaire already, right?
Let face the fact. No expert advisor can do that. But growing your bank each through various form of income from FOREX market is achievable with Extreme Advisor System.
Click the below to download:
User Guide: http://rapidshare.com/files/116193017/ExtremeAdvisors_User_Guide.txt.html
EA System: http://rapidshare.com/files/116192455/ExtremeAdvisor.mq4.html
