Milking The Cable Trend | Gold EA Download - MT4/MT5 Resources
I believe I have discovered a very profitable system that I would like to share with the members of Forex Factory. Special thanks to the many people who have made great contributions and help me along the way.
In addition to helping others, I hope to gain the following benefits:
1. Adjustment of this system. Please feel free to contribute, but one of my goals is KISS! Keep it short! I may need MM’s help the most
2. This system is a 24-hour system if it is to be done well. I'm looking to assemble a team of 3-5 people who see the value of the system and agree to have at least one person "on duty" at all times. When the signal appears, we can send text messages to other people. This is not as difficult as you might think since we mainly use hourly charts.
The chart setup uses 7 different moving averages:
3, 9, 20, 55 and 89 EMA
34 and 170 simple horses all ready to close.
I'll attach the template so I don't have to go over all the colors etc.
I also use a great oscillator, but maybe your favorite will work too. As far as I know, all these indicators are standard indicators for MT4.
What I really think you'll enjoy is that this is a system within a system. First up is Part A, which I'm sure many of you will recognize.
On the hourly chart, when the gold 34 EMA crosses the black 34 EMA on a full candle, go with the trend. Exit at the next intersection while reversing. Pretty simple, eh?
Start by using a 40 pip stop loss, or place the stop loss above/below the last swing low. Decline 25% at 35 pips and move stop loss to BE. Then based on the remainder, 10% is deducted at 50, 100, 150, etc. Maintain 40-50% of your original position until an opposite crossover or exit pattern occurs, such as a double top/double bottom, or a clear divergence. We're going to talk a lot about this part. I'll come back to chart examples and such, but even without the additional rules I'll discuss, open the template and you'll see quite a few runs of 100-300 points, sometimes even more. Yes, there are some losers, sometimes 2-4 times in a row. Is it worth it to be down 100 points while waiting for a 300 point move? You will also find many situations where you win 2-3 or more 100-300 points in a row. check it out.
I will first discuss the "A" part of the system before discussing the "B" part. Please be patient and we will get there. Also, while I do want feedback, please wait until I can reveal what I have so far because there is far more than I have shared so far.
In addition to helping others, I hope to gain the following benefits:
1. Adjustment of this system. Please feel free to contribute, but one of my goals is KISS! Keep it short! I may need MM’s help the most
2. This system is a 24-hour system if it is to be done well. I'm looking to assemble a team of 3-5 people who see the value of the system and agree to have at least one person "on duty" at all times. When the signal appears, we can send text messages to other people. This is not as difficult as you might think since we mainly use hourly charts.
The chart setup uses 7 different moving averages:
3, 9, 20, 55 and 89 EMA
34 and 170 simple horses all ready to close.
I'll attach the template so I don't have to go over all the colors etc.
I also use a great oscillator, but maybe your favorite will work too. As far as I know, all these indicators are standard indicators for MT4.
What I really think you'll enjoy is that this is a system within a system. First up is Part A, which I'm sure many of you will recognize.
On the hourly chart, when the gold 34 EMA crosses the black 34 EMA on a full candle, go with the trend. Exit at the next intersection while reversing. Pretty simple, eh?
Start by using a 40 pip stop loss, or place the stop loss above/below the last swing low. Decline 25% at 35 pips and move stop loss to BE. Then based on the remainder, 10% is deducted at 50, 100, 150, etc. Maintain 40-50% of your original position until an opposite crossover or exit pattern occurs, such as a double top/double bottom, or a clear divergence. We're going to talk a lot about this part. I'll come back to chart examples and such, but even without the additional rules I'll discuss, open the template and you'll see quite a few runs of 100-300 points, sometimes even more. Yes, there are some losers, sometimes 2-4 times in a row. Is it worth it to be down 100 points while waiting for a 300 point move? You will also find many situations where you win 2-3 or more 100-300 points in a row. check it out.
I will first discuss the "A" part of the system before discussing the "B" part. Please be patient and we will get there. Also, while I do want feedback, please wait until I can reveal what I have so far because there is far more than I have shared so far.
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