Hi everyone!
I am currently trading with this system. Please share with me. I am often very busy, but I will try to help as much as I can....and also please, please this system is not for sale! I will soon release the system here.Thanks!
Rules for Trading
BUY
RSI should show good resistance at 45 and should not break below it. As the market price is moving up, it should go above the 55 and you should be aware of the overbought 75 mark as the market goes on.
CCI you should notice a gradual end to sell (red region) and the start of a new buy trend (green region). This should coincide with an arrow showing buy signal and the MA turning Blue
Turbo JRSX has to come from oversold region (down) going up the 50 mark.
200 MA is your MAJOR TREND- take trades when prices are above it!!!
SELL
RSI should show good resistance at 55 and should not break above it. As the market price is moving down, it should go below the 45 and you should be aware of the oversold 25 mark as the market goes down.
CCI you should notice a gradual end to BUY (green region) and the start of a new SELL trend (red region). This should coincide with an arrow showing SELL signal and the MA turning red
Turbo JRSX has to come from OVERBOUGHT region (up) going DOWN the 50 mark.
200 MA is your MAJOR TREND- Take trades when prices are below it!!!
Trading Time Only the time the market is open for its currency.
Time Frame
10 minute TF
NB: you need to open "2-4-10minutetemplate" running on 1-minute TF on your selected currency. Then go to offline on the file section and open the "10 min TF". Then use the poormansystem template on the 10 min TF.
Currency
GbpUsd, EurUsd, GbpJpy, UsdJpy & EurCad...You may want to try others too. Should work as the system is based firmly on trend lines.
Stop loss
25pips....remember this is a 10 min TF, 25 pips should be enough to avoid your stop loss being hit unnecessarily.
Take profit
75pips+....at least you net 50pips with this system in each trade. You may also use other taking profit e.g 00-50 numbers etc.
Counter-trade
It is also possible to do counter trade...that means going against the trend with this system. You shouldnt be trying this if you are not familiar with the system. Demo it first and be farmiliar with overbought and oversold regions before you decide to counter.
Money management
This is the most important part in trading. Please read good articles in FF on how to go about it.
Last but not least, remember professional traders dont stay in the market all the time. You have to know when to get in and out. Dont over-trade at anytime!
All credit and thanks to all who made the indicators & scripts! I hope we can all benefit from them.
I am currently trading with this system. Please share with me. I am often very busy, but I will try to help as much as I can....and also please, please this system is not for sale! I will soon release the system here.Thanks!
Rules for Trading
BUY
RSI should show good resistance at 45 and should not break below it. As the market price is moving up, it should go above the 55 and you should be aware of the overbought 75 mark as the market goes on.
CCI you should notice a gradual end to sell (red region) and the start of a new buy trend (green region). This should coincide with an arrow showing buy signal and the MA turning Blue
Turbo JRSX has to come from oversold region (down) going up the 50 mark.
200 MA is your MAJOR TREND- take trades when prices are above it!!!
SELL
RSI should show good resistance at 55 and should not break above it. As the market price is moving down, it should go below the 45 and you should be aware of the oversold 25 mark as the market goes down.
CCI you should notice a gradual end to BUY (green region) and the start of a new SELL trend (red region). This should coincide with an arrow showing SELL signal and the MA turning red
Turbo JRSX has to come from OVERBOUGHT region (up) going DOWN the 50 mark.
200 MA is your MAJOR TREND- Take trades when prices are below it!!!
Trading Time Only the time the market is open for its currency.
Time Frame
10 minute TF
NB: you need to open "2-4-10minutetemplate" running on 1-minute TF on your selected currency. Then go to offline on the file section and open the "10 min TF". Then use the poormansystem template on the 10 min TF.
Currency
GbpUsd, EurUsd, GbpJpy, UsdJpy & EurCad...You may want to try others too. Should work as the system is based firmly on trend lines.
Stop loss
25pips....remember this is a 10 min TF, 25 pips should be enough to avoid your stop loss being hit unnecessarily.
Take profit
75pips+....at least you net 50pips with this system in each trade. You may also use other taking profit e.g 00-50 numbers etc.
Counter-trade
It is also possible to do counter trade...that means going against the trend with this system. You shouldnt be trying this if you are not familiar with the system. Demo it first and be farmiliar with overbought and oversold regions before you decide to counter.
Money management
This is the most important part in trading. Please read good articles in FF on how to go about it.
Last but not least, remember professional traders dont stay in the market all the time. You have to know when to get in and out. Dont over-trade at anytime!
All credit and thanks to all who made the indicators & scripts! I hope we can all benefit from them.
Attached File(s)
poormansystem.zip
88 KB
|
244 downloads
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Uploaded May 14, 2009 7:24pm
Time Is Money