[GET] 30 Pips a Day Forex Trading Strategy

[sunnyillion]

(12-31-2017 08:20 AM)EuroTrader Wrote:  Here's a visual aid.

There is NOTHING wrong with simple approaches like this until you learn how to read price action (which is where all indicators -- including these Moving Averages -- come from).

That's a pretty chart and definitely if you were following it you would have made profit too.
System is old but still works.
As I said earlier, price action is the way to go.

Thanks @EuroTrader.

[mikie]

Hi Sunny, I just decided to test it out. Worked this time. Will continue testing. Got some confluence also and bounce on minor support/resistance level.

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[jackpinion]

I think IF I were going to trade this strategy, I'd place either a 17 or 18 set of envelopes (Exponential - Shift 0 - Close - Deviation 0.10%) in between the 10EMA and the 26EMA.

Then on a downward trend, I would want to see a downward candle (after the retrace) break through the LOWER envelope before I jumped in with a sell trade.

On an upward trend -- just the opposite. A bullish candle would have to break through the upper envelope before I jumped in with a buy trade.

Just my two cents.

jack

[jackpinion]

In fact... I've just placed all this on my MT4 chart and after looking at it? I could probably delete the two moving averages and still make it work.

jack

[jackpinion]

Measuring out the pips with the envelopes on the 4 Hour chart? 30 to 40 pips would seem pretty easy. Just sayin'.

jack

[grert]

So how did this guy fred actually make the $1M? Would have been nice to see a break down of how he achieved this ie starting balance lot size etc. Not saying it is not achievable but sounds like a made up story when you think that most profitable traders make between 10% to 50% a year.

[jackpinion]

Well, I have yet to make a million dollars but I do okay now... I started Forex two and a half years ago with $5K. I started trading one lot per trade until I had $10K. I upscaled my trades to 2 lots just like anything we do in Internet Marketing. When I made another $5K for a total of $15K trading account? 3 lots. On and on and on till today? 30 or 40 pips is a very nice pay day.

jack

[mrworldsfree]

the same info can be found here but this site has more detailed examples and explanations.
https://profitableforextradingstrategies...ncy-pairs/

[pmadison]

+5 reps added. thanks for sharing.

[JCM10X25]

You Might Consider Fibonacci Values For The Indicators . (8 Period EMA = Blue , 13 Period EMA = Green , 21 Period EMA = Red) Or ZeroLag Moving Averages . Same Fibonacci Values . 8 And 13 Are Almost EquiDistant From 10 Period MA And Would Provide TWO MA Crosses . Add 21 Period Bollinger Bands To Improve Results . Good Luck .