Friday, November 16, 2007

My Forex Trading System

    Outlined below is my first Forex System. I'm going to trade on 5 Minute and possibly 1 Minute charts on AUD/USD, EUR/USD, USD/CHF

    Trading in Lots of 100,000 until system is well-proven.

    Graph Setup:

    EMA of 3, 7 and 25

    MACD of 8,17 and 9

    Stoch of 8,3 and 3

    CCI of 8 with Limits at 100 and -100

    Set Stop Losses of all trades at 25 PIPs

    Enter Long If:

  1. The 3 EMA crosses the 25 EMA
  2. Both Stoch lines are heading up but not overbought by Stoch and CCI charts
  3. MACD is 0.00 or above and vertical lines are in the positive

    Enter Short If:

  4. The 3 EMA crosses the 25 EMA
  5. Both Stoch lines are heading down but not overbought by Stoch and CCI charts
  6. MACD is 0.00 or below and vertical lines are in the positive

    Exit Rules:

  7. Warning if the 3 EMA crosses the 7 EMA - That's point you should begin to watch.
  8. Exit if the 3 EMA crosses the 25 EMA in the opposite direction of trade
  9. If MACD falls opposite side of 0.00

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