*** Forex system - Simple Stepping into Position

Pairs: Any (watch multiple)

Indicators:

50 sma 1 hour chart

Candlestick reversal (Or use other reversal Patterns)

Filter: 200 sma 4 hour chart

Short Entry:

4h 200 sma going sideways or sloping down

Look for reversal patterns in the vicinity of the 1h 50 sma. These can be taken from anywhere above the line to a small distance below the line. If the 200 sma is going sideways, make sure the 50 sma is sloping down.

If the 4h 200 sma is sloping down, the direction of the 1h 50 sma doesn’t matter.

Long entry is opposite.

Method:

Enter your trade in 2 sections. The size of section 1 is twice that of section 2. SL is 5

pips outside of the extreme reversal high or low. TP for section 1 = entry price plus or minus (2 x the difference between the entry price and the stop loss). Enter a trailing stop by the same range on section 2. After the trailing stop on section 2 has moved twice, remove it and start locking in ½ profits. Never reduce the size of the stop. Only move it in the direction of profit. Should the profit exceed 4 X the average daily range, start locking in ¾ of profits. On section 2 trades, just take whatever profit the market gives .

Risk/ Reward example

Stop loss 50 X 3 150

Take Profit 2x100 200 2nd section gets stopped out at break even

net gain 50

Minimum risk/reward 1: 1.33

Forex system - Simple Stepping into Position

_________________________________________________________