3 Amigos Intraday | Foreign Exchange EA Download - MT4/MT5 Resources
Hello everyone,
I just wanted to share a system I created a while ago. It has been tested front and back and works great in most conditions. In a good trend, it will capture many points. In larger swings, it catches smaller doses and lets you get out of trouble quickly with smaller losses - what more can you really ask for?
I do not recommend following this system if any of the following applies to you:
- If you are a beginner in Forex.
- If you don't know what "price action" is.
- If you have no idea what support/resistance is and how to determine where they are on a chart.
- If you don't recognize the basic candlestick pattern.
- If you are a Japanese housewife with a passion for arbitrage trading.
- If your last name is Smith.
Word to the wise: this is not a 100% mechanical system. As with most successful systems, it requires caution in some areas; this entry is fairly 100% mechanical. The caution lies in your opting out, manually moving your stop loss to a logical area, and choosing to implement additional projects in a good trend. In all of these cases, I'll try to explain what I think is the best option for the different situations.
One thing I want to emphasize is the importance of trade (profit) management and properly managed exits (they go hand in hand). The purpose of manually trailing stops and exits is to protect larger profits while allowing smaller profits to breathe - thereby giving them a chance to grow.
I don't peruse these forums as carefully as I used to, and I really don't spend much time here. If you have basic trading questions, look elsewhere on the site or visit www.babypips.com for a complete trading college education.
** I can’t stress this enough – know the basics before you watch this.
If you have questions about the system itself, I'll do my best to answer them promptly - I apologize in advance if I don't get an answer for a day or two.
I'll try to post more examples if necessary - just let me know of areas I'm unclear on.
No! I don't have success rate percentages, win/loss ratios, etc. In fact, I barely have time for any type of day trading, so I haven't used this system in a while. Most of my trades are long position trades (the simpler type I think).
While I hope I've covered everything, I'm pretty sure I'm forgetting some little details. Again, please let me know and I'll try to explain!
Good luck to everyone and happy trading!
BTW: Please don't post here until I've written the first few messages. they should explain everything
I just wanted to share a system I created a while ago. It has been tested front and back and works great in most conditions. In a good trend, it will capture many points. In larger swings, it catches smaller doses and lets you get out of trouble quickly with smaller losses - what more can you really ask for?
I do not recommend following this system if any of the following applies to you:
- If you are a beginner in Forex.
- If you don't know what "price action" is.
- If you have no idea what support/resistance is and how to determine where they are on a chart.
- If you don't recognize the basic candlestick pattern.
- If you are a Japanese housewife with a passion for arbitrage trading.
- If your last name is Smith.
Word to the wise: this is not a 100% mechanical system. As with most successful systems, it requires caution in some areas; this entry is fairly 100% mechanical. The caution lies in your opting out, manually moving your stop loss to a logical area, and choosing to implement additional projects in a good trend. In all of these cases, I'll try to explain what I think is the best option for the different situations.
One thing I want to emphasize is the importance of trade (profit) management and properly managed exits (they go hand in hand). The purpose of manually trailing stops and exits is to protect larger profits while allowing smaller profits to breathe - thereby giving them a chance to grow.
I don't peruse these forums as carefully as I used to, and I really don't spend much time here. If you have basic trading questions, look elsewhere on the site or visit www.babypips.com for a complete trading college education.
** I can’t stress this enough – know the basics before you watch this.
If you have questions about the system itself, I'll do my best to answer them promptly - I apologize in advance if I don't get an answer for a day or two.
I'll try to post more examples if necessary - just let me know of areas I'm unclear on.
No! I don't have success rate percentages, win/loss ratios, etc. In fact, I barely have time for any type of day trading, so I haven't used this system in a while. Most of my trades are long position trades (the simpler type I think).
While I hope I've covered everything, I'm pretty sure I'm forgetting some little details. Again, please let me know and I'll try to explain!
Good luck to everyone and happy trading!
BTW: Please don't post here until I've written the first few messages. they should explain everything
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