Rchap,
Does this system work daily with the gbp/usd?
And, if it does, does it work only during the european session?
Thanks man,
hilton
Does this system work daily with the gbp/usd?
And, if it does, does it work only during the european session?
Thanks man,
hilton
DislikedThis is the system I use and I have had wonderful results with it. You can use any time frame just pick one that you like I trade off the 5min charts but that might not be for you. Try the 15min or the 30min.
This systems works really well I can't believe more people are not trading it. Then again it is too simple and people like to make things hard. I follow the KISS(keep it simple stupid) principle.
I've been adding at least 25% to my account balance on a daily basis with it.
I use trend lines for my projections and CCI set at 5 to tell me when the momentum is getting weak.
Trade when both 5 and 13 cross 62. When the market is trending price will retrace back to the 62 MA before going again in the direction before the retrace. A classic is the GPB/USD, price has now retraced back up to the 62 MA on the daily charts. I call these trades the Johnny come lately, for all those who miss it before.
It works well with news as well I don't care about the news as long as I'm trading off of a longer time frame. The price just likes to bounce from the 62MA. But if you are new to trading I would advise you to close your trades before the news, don't worry about the missed pips you would get them again later when the market settles down.
Hope this helps you and happy trading.Ignored