Two systems in one - Very simple diverge
Hello everyone,
I'm new to this forum and I'd like to share a system I'm developing for the sole purpose of exchanging ideas and hearing your contributions.
Like many of you, I spent years trying to achieve stability and consistency in trading the Forex market, and like many of you, I blew up a few accounts before I achieved emotional and financial balance.
My system is very simple, boringly simple, but over time I've found that adding accounts is a slow and boring process, but it's worth it
*Please remember it is still under development
1. Go against the trend
index
AO (Awesome Oscillator)
Zuhei Ken
Rule short/long
1. Wait for the long-term trend
2. AO Indicator - Wait for 3 hills to form in the opposite direction to the trend, "They should be very obvious and easy to identify - Divergence"
3. Trade the first Heiken Ashi candle that goes against the trend
*I have only tested the system on eurusd, usdjpy and sp500/1-2 minute charts
**Remember to always use appropriate risk/reward
clue
A. If the three hills on the AO indicator do not cross the 0 line, then the pullback may not be that strong, so the target should be small.
B. If there is a cross of the 0 line on the AO indicator, the retracement is likely to be stronger or even become a new trend change.
avoid
* Trade before or during breaking news
* Send a counter-trend signal immediately after a break of important support or resistance (wait for it to move far enough away)
* Market volume is low or close to closing
I'm new to this forum and I'd like to share a system I'm developing for the sole purpose of exchanging ideas and hearing your contributions.
Like many of you, I spent years trying to achieve stability and consistency in trading the Forex market, and like many of you, I blew up a few accounts before I achieved emotional and financial balance.
My system is very simple, boringly simple, but over time I've found that adding accounts is a slow and boring process, but it's worth it
*Please remember it is still under development
1. Go against the trend
index
AO (Awesome Oscillator)
Zuhei Ken
Rule short/long
1. Wait for the long-term trend
2. AO Indicator - Wait for 3 hills to form in the opposite direction to the trend, "They should be very obvious and easy to identify - Divergence"
3. Trade the first Heiken Ashi candle that goes against the trend
*I have only tested the system on eurusd, usdjpy and sp500/1-2 minute charts
**Remember to always use appropriate risk/reward
clue
A. If the three hills on the AO indicator do not cross the 0 line, then the pullback may not be that strong, so the target should be small.
B. If there is a cross of the 0 line on the AO indicator, the retracement is likely to be stronger or even become a new trend change.
avoid
* Trade before or during breaking news
* Send a counter-trend signal immediately after a break of important support or resistance (wait for it to move far enough away)
* Market volume is low or close to closing
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