Pairs
This strategy works best on GBPUSD\EURUSD\GBPJPY
Charts
I use this system on 15M\1H\4H. Of course, If there are conflicting signals the higher timeframe wins...
Indicators
*Stochastic Oscillator (K%=10, D%=3, Slowing=3), remove the signal line (slowing) as you won't be using it here.
*Awesome Oscillator
Entry Rules
Enter Long after Stochastic main line crosses 60 up.
Enter Short after Stochastic main line crosses 40 down.
Stop order is placed 1 pip above the high of the candle (for long), and 1 pip below the low of the candle (for short).
Exit Rules
Exit trade when Awesome Oscillator makes one bar in opposite direction of your trade. Explanation:
If you are long and Awesome Oscillator creates a red bar - exit trade when the bar is closed.
If you are short and Awesome Oscillator creates a green bar - exit when bar is closed.
Just look at the pictures.. it doesn't really matter to be 100% precise in these exits, anyway the trends you'll catch are big enough so late exits won't hurt the profits too much.
Money Management
As usual I recommend not risking more than 2% of equity on a single trade.
Example of Trades
Profitable trading,
C0NUNDRUM
Posts
Hey, love the system! have you tried to program this system? if not I was wondering if you'd like to work on programming it. i think it would work very well if done because it seems completely mechanical in nature which is what i always look for. works even better on H1 time frame as a note you can contact me jawahn_thompson @ yahoo . com I hope to hear from you soon! happy trading!
ReplyDeleteI have some questions ...
ReplyDeleteI'm looking at todays EURUSD H1.
It did an entry for long. The exit, it created a red bar the awesome oscillator, but then it continued it's trend up, but the Stochastic never came down to cross over 60 line again so we went long...
140 pips were missed.
Do we always exit just with the red bar? or is there anything else?
or is there a reentering signal or so?
thanks