"Pure" Trading System | Foreign Exchange EA Download - MT4/MT5 Resources

Looking for a system that never fails?
Or will the loss rate be less than 1%?

However

My system works fine.

It IS profitable

It does do something.

It's profitable simply because of one simple rule:

Losing trades are shortened and winning trades are let go

supply


You follow the rules and write a letter

Okay, here it is.

pure targeting

On the chart:

1. Japanese candlestick
2. 50 Moving Average of High
3. 50 moving average low
4. Fibonacci Extension Pull Lines

SMA creates a channel.


Entry rules:

When a candle opens and closes above or below the channel, enter a long or short trade respectively.

For example candles open and close above the channel - go long

Warning: I do not recommend buying on a long-term breakout of a channel when price is slightly below the resistance line.
In my opinion, support and resistance lines rule the market and I trade them in addition to channels, so if a channel breakout occurs near the S/R level, I recommend waiting for a breakout of that level and the channel.



If at any time a candle closes within the channel, exit the trade.

I also exited the trade completely at Fibonacci 423.

Take profit and stop loss rules:

When in a certain position I will pull the Fibonacci targets (before moving).

Once I reached the 123 Fib level, I kept my stop loss two Fibonacci levels away from the price.

For example if the price reaches the 161 level, my stop loss will be at 100 Fib (the midpoint is 123) .

I find this gives my trading enough breathing room and to achieve my 423 long term goal.

However, if the trade fails, then I will have a significant percentage of the available profit because my stop loss will dynamically move with the price at a "close but not too close" distance.

However, this is just personal preference. Use whatever works for you, the most important thing here is entry signals.

I repeat, the 423 Fibonacci level is my overall target for trading.

illustrate

There are many systems around, some boasting impossible results and some that actually work. But what's the trouble with all this?

Find a system where you obviously never lose or lose very little, invest in it, and lose money with it!

It happens to everyone.

The system can lose.

However the losses are small, like 8 points here and 12 points there.

But the winner could be gold.



Here we use Fibonacci levels as stop loss and profit targets .