Risky Business System | Foreign exchange indicator download- MT4/MT5 resources
I have been successfully trading this system for some time and wanted to share it.
The principles are not new, but the setup works.
Before explaining the chart setup, entries and exits, I would like to mention that this system uses a stop and reverse semi-martingale strategy, so it will not be to everyone's taste and comes with serious health warnings. "It's going to blow up your account one day!" There. I've already said it. So hopefully it needs no further mention.
Currency Pair: Any currency pair with reasonable volatility.
Time frame: 1 hour works for me. Smaller timeframes work just as well, but the number of trades increases exponentially.
Chart settings: 100ma and 200ma envelopes with 0.1% deviation.
First entry: "Buy" when the candle reaches 100ma and closes above the highest envelope; "Sell" when the closing price is below the lowest envelope.
Stop Loss and Reversal: When the candle closes on the other side of the high/low envelope on the chart.
Lot Sequence: Usually I increase the lot size by 1.5 on each trade, so my levels are 1k, 2k, 3k, 5k, 8k, 12k, 18k, 27k, 40k, 55k, 100k...
Exit: If this is the first trade of the sequence, my goal is to exit immediately high/low. If this is not the first trade in the sequence, then I aim for a monetary value above breakeven. Sometimes I will use a trailing stop if momentum is good and the trade is profitable above the breakeven point.
Some notes: Be wary of the gap between the opening price and the furthest envelope. It is an indicator of risk, but can also represent the strength of a trend. Patience is required. Some trades may take several weeks to become profitable.
Below is an image of USD/CAD showing swing areas and trends.
The principles are not new, but the setup works.
Before explaining the chart setup, entries and exits, I would like to mention that this system uses a stop and reverse semi-martingale strategy, so it will not be to everyone's taste and comes with serious health warnings. "It's going to blow up your account one day!" There. I've already said it. So hopefully it needs no further mention.
Currency Pair: Any currency pair with reasonable volatility.
Time frame: 1 hour works for me. Smaller timeframes work just as well, but the number of trades increases exponentially.
Chart settings: 100ma and 200ma envelopes with 0.1% deviation.
First entry: "Buy" when the candle reaches 100ma and closes above the highest envelope; "Sell" when the closing price is below the lowest envelope.
Stop Loss and Reversal: When the candle closes on the other side of the high/low envelope on the chart.
Lot Sequence: Usually I increase the lot size by 1.5 on each trade, so my levels are 1k, 2k, 3k, 5k, 8k, 12k, 18k, 27k, 40k, 55k, 100k...
Exit: If this is the first trade of the sequence, my goal is to exit immediately high/low. If this is not the first trade in the sequence, then I aim for a monetary value above breakeven. Sometimes I will use a trailing stop if momentum is good and the trade is profitable above the breakeven point.
Some notes: Be wary of the gap between the opening price and the furthest envelope. It is an indicator of risk, but can also represent the strength of a trend. Patience is required. Some trades may take several weeks to become profitable.
Below is an image of USD/CAD showing swing areas and trends.
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