Mighty Achilles | Forex Indicator Download - MT4/MT5 Resources
Edit: I added a very useful indicator called Traders Dynamic Index I tried to explain a system without this indi but I realized it doesn't work very well.
So now we check if TDI crosses up or down for entry. Check out the new rules.
Hey guys,
I would like to introduce the MIGHTY ACHILLES system to get feedback from all traders.
This system is very simple.
These are the settings:
- Synergy Stick
- EMA 60 closing
- Traders Dynamic Index (TDI)
- 5 SMMA high
- 5 SMMA low
The last two are designed to establish Price Action Channels (PAC)
These are the rules:
1. Once the synergy bar closes above PAC, we only go long if we are in an uptrend. How do we know if this is the case? Let’s look at the 60EMA.
2. Once the synergy bar closes below the PAC, we will go short. Again, only if we are in a downtrend (look at the 60EMA)
That's pretty much it.
This method is not my authority in any way, Dean Malone is the genius who invented it.
Money management:
We only risk 1-5% of our account on any trade. Therefore, set the SL to a point within 10% of your account. Be strict about this.
I would like to mention that this system does not produce the same number of points every time. If we see a lot of momentum (size of the synergy bar), we may gain more points than the average synergy bar close.
The more you trade, the more confident you become and the more you'll be able to place bets on every position you open to make more profit.
Taking profits:
Well guys it's up to you because you can earn 20 pips or maybe 80 pips on each trade and you have to keep an eye on the market conditions. My rule is that if the trade goes against me by 30 pips, I close the trade; if the trade goes against me by 60 pips, I take profit. You can make your own rules!
Attention <br> This is a high probability system with a high success rate, you will suffer losses but the profits will more than make up for it ;D
If you don't know what a high probability system actually is, quit everything you are doing right now and read Mark Douglas' Zone Trading at least twice. Once you have this idea, read this article again.
By the way, I'm from Chile, so I'm sorry for any English mistakes I may have made.
So now we check if TDI crosses up or down for entry. Check out the new rules.
Hey guys,
I would like to introduce the MIGHTY ACHILLES system to get feedback from all traders.
This system is very simple.
These are the settings:
- Synergy Stick
- EMA 60 closing
- Traders Dynamic Index (TDI)
- 5 SMMA high
- 5 SMMA low
The last two are designed to establish Price Action Channels (PAC)
These are the rules:
1. Once the synergy bar closes above PAC, we only go long if we are in an uptrend. How do we know if this is the case? Let’s look at the 60EMA.
2. Once the synergy bar closes below the PAC, we will go short. Again, only if we are in a downtrend (look at the 60EMA)
That's pretty much it.
This method is not my authority in any way, Dean Malone is the genius who invented it.
Money management:
We only risk 1-5% of our account on any trade. Therefore, set the SL to a point within 10% of your account. Be strict about this.
I would like to mention that this system does not produce the same number of points every time. If we see a lot of momentum (size of the synergy bar), we may gain more points than the average synergy bar close.
The more you trade, the more confident you become and the more you'll be able to place bets on every position you open to make more profit.
Taking profits:
Well guys it's up to you because you can earn 20 pips or maybe 80 pips on each trade and you have to keep an eye on the market conditions. My rule is that if the trade goes against me by 30 pips, I close the trade; if the trade goes against me by 60 pips, I take profit. You can make your own rules!
Attention <br> This is a high probability system with a high success rate, you will suffer losses but the profits will more than make up for it ;D
If you don't know what a high probability system actually is, quit everything you are doing right now and read Mark Douglas' Zone Trading at least twice. Once you have this idea, read this article again.
By the way, I'm from Chile, so I'm sorry for any English mistakes I may have made.
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