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 The simple stupid system

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mary



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PostSubject: The simple stupid system   Sat May 28, 2011 1:54 pm

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The simple stupid system

Chart setup: Heikin ashi
EMA 5 close
EMA 8 open
Dinapoli stoch 8-3-3
MomentumVT 10
QQE Alert Smooth Factor 1

There are two conditions for Entry.

1. Basic Entry

Buy: 5/8 ma up crossover
Dinapoli stoch bullish crossover
MomentumVT above 0 level
QQE alert pointing up

Sell: 5/8 ma down crossover
Dinapoli stoch bearish crossover
MomentumVT below 0
QQE alert pointing down

Update
As I have discovered that moving averages often react to price actions rather quickly, I decided to add a filter to my exits.
Exit: Whet both QQE alert and 5/8 Ema crossover have signalled an
opposite direction, then exit. They don't have to signal at the same
time but you no exit must be taken until the two have signalled an exit.

2. Re-Entry

Let's say we miss a basic setup and look to entering the trade after
the setup as occured, these are the conditions that must be met:

Buy: Make sure that all the indicators are going in the buy direction.
Allow the dinapoli stoch to go into a sell then enter a buy when it also
turns back to the buy direction. Take note of any support or resistance
level or any pivot point close to the current price. Enter when the
dinapoli stoch crosses over to a buy.

Sell: Opposite of buy.

Exit: Stop loss of 20 pips, OR Take profit of 20 or 30 pips. Whichever is hit first. I also use a trailing stop of 20 pips.

News.
I do not open new positions when big news is coming up. If I am already
in a trade and a big news is near, I exit the trade if I have profit
less than 30 pips. But if I am in a profit of more than 30 pips, I leave
20 pips out and lock in the remaining then trail my stop with a 20 pips
trailing stop. That is my own personal way of handling news, other
suggestions are welcome.

The purpose of this thread is to improve the strategy and also build an expert advisor. You can also add timeframe filters.

Wahnone

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mary



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PostSubject: Re: The simple stupid system   Sat May 28, 2011 1:55 pm

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Here are two trades taken today on gbpusd 15 min

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