Hello traders,
It's been a while. Amazing journey? The least I could say. FOREX markets have evolved and I am glad to report it is still the best money machine for me and my students.
I was looking at some of the most recent posts and basically nothing has changed. Same market, same players (more player, a lot more). So why am I saying the market has evolved? In a nut shell "Volatility". But I don't want to get too technical with this post and would like to answer a question for fx1079:
On May 7th you asked: "Is this Trading System and EA in this thread still reliable nowadays?" Referring to the Trend Finder 4hr system posted by Bull101 back in June 12th 2008.
I think it is still one of the best trading systems I have found in any forum. Specially for new traders. My students use it now without the EA.
Now, before I share my spin on the system I want to clarify that trades at all levels need to keep the basics in mind all the time. Just having a good system does not mean you ignore them, so having said that lets dive into the system:
TREND FINDER 4hr. Mod.
Attached Image (click to enlarge)
https://www.forexfactory.com/attachm...1&d=1629639713
I have added a 50 SMA (Yellow) We take only Longs when price is above and only shorts when price is below the 50 SMA. Along wit other indicators that I found in a system called "Palex" (I don't remember where I found it) and other as well. So the system us you classic MUT/Hybrid.
SMA 18 (White)
LWMA 14 (Red)
EMA 7 (Green)
2MACross Indicator (1,7,3,14)
ptl 2.07 (alert + lines) Indicator (Places Sup. & Res. Lines for you, very accurate)
Forex Sniper Killer aka FSK Plugin
Forex Sniper Killer Entry Alert
Important
It's been a while. Amazing journey? The least I could say. FOREX markets have evolved and I am glad to report it is still the best money machine for me and my students.
I was looking at some of the most recent posts and basically nothing has changed. Same market, same players (more player, a lot more). So why am I saying the market has evolved? In a nut shell "Volatility". But I don't want to get too technical with this post and would like to answer a question for fx1079:
On May 7th you asked: "Is this Trading System and EA in this thread still reliable nowadays?" Referring to the Trend Finder 4hr system posted by Bull101 back in June 12th 2008.
I think it is still one of the best trading systems I have found in any forum. Specially for new traders. My students use it now without the EA.
Now, before I share my spin on the system I want to clarify that trades at all levels need to keep the basics in mind all the time. Just having a good system does not mean you ignore them, so having said that lets dive into the system:
TREND FINDER 4hr. Mod.
Attached Image (click to enlarge)
https://www.forexfactory.com/attachm...1&d=1629639713
I have added a 50 SMA (Yellow) We take only Longs when price is above and only shorts when price is below the 50 SMA. Along wit other indicators that I found in a system called "Palex" (I don't remember where I found it) and other as well. So the system us you classic MUT/Hybrid.
SMA 18 (White)
LWMA 14 (Red)
EMA 7 (Green)
2MACross Indicator (1,7,3,14)
ptl 2.07 (alert + lines) Indicator (Places Sup. & Res. Lines for you, very accurate)
Forex Sniper Killer aka FSK Plugin
Forex Sniper Killer Entry Alert
Important
- The system runs light and you have all the information you need to make a decision including support and resistance set actively.
- If you don't know how to trade Support and Resistance I highly suggest you learn that first.
- On your 4 hr. Chat, present support and resistance is derived form the last few days of price data.
- Pay special attention to the direction of the price in relation to the 50 SMA (Yellow) for your entry points. Price has to be moving away from it in the direction of the main trend. Ignore counter trend signals unless you know how to Scalp.
- Turn your platform candle color to "NONE" and let the Indicator candle act alone.
- You can use the ptl 2.07 Purple doted lines to trail your stop loos if that is part of your exit strategy
Looking forward to any questions or comments. Try the system on a Demo first before you venture into real money trading.
Happy MULA making!
Attached Files
https://assets.faireconomy.media/images/attach/ex4.gif 2MACross.ex4 8 KB | 0 downloads
https://assets.faireconomy.media/images/attach/ex4.gif FOREEX SNIPER KILLER Entry Alert.ex4 14 KB | 0 downloads
https://assets.faireconomy.media/images/attach/ex4.gif FOREX SNIPER KILLER Aka FSK Plugin.ex4 13 KB | 0 downloads
https://assets.faireconomy.media/images/attach/ex4.gif ptl 2.07 (alerts + lines).ex4 38 KB | 0 downloads
https://assets.faireconomy.media/images/attach/tpl.gif trend finder 4hr-mod.tpl 376 KB | 0 downloads