Bread and Butter Trades | Scalping EA Download - MT4/MT5 Resources

I've been a member of FF for a while now and I'm really lucky to have this great forum. I've met great people on this forum and learned a lot.

To express my gratitude, I want to share this simple system I call the bread and butter of trading.

This system won't be suitable for every trader, but if you find it useful, feel free to adjust it to suit your personality.

Another thing I want to say before using the system is that as a trader you need to reduce drawing on the chart to see the price, this is really the best indicator. Forget all the numerous lagging indicators, look at price, apply sup/res and you'll be fine. Another thing is that you should stop looking for a guru to help you succeed. The guru is you…yes, I mean you’re reading this. As long as you believe it, you are the best trader ever.

I have been trading this system for over 3 years and it continues to bring profits. It can be used as a scalping method as well as for long-term trading. It's not 100%, but you can adjust it to your liking...remember, you are the best trader the world is waiting for.

system

Currency pair: EURUSD. (I mostly trade EU but I'm sure it works for all pairs)

Chart time ranges: 1 hour, 4 hour and daily charts

Indicator: 24EMA should be used on closing prices.

Rules: Just 2 rules to remember.

1. When the price is higher than the 24 EMA (at least 20+ points), and the price starts to move towards the 24 EMA, that is, when the price falls towards the 24 EMA, set a buy limit at the 24 EMA and expect it to rebound. Vice visa for sale. Target 10+ points

2. When the price is below the 24 EMA and moves up to the 24 EMA, if the price closes above the 24 EMA, then the opening and closing prices are both higher than the 24 EMA, a buy limit is set at the 24 EMA, and it is expected to retest the 24 EMA on the way up. Vice visa for sale.

Stop loss:

Stop loss is derived from rule 2 above.

For buy: Open a position when the price closes below the 24 EMA and close the position when it closes below the 24 EMA.

For selling: When price closes above the 24 EMA, open and close above the 24 EMA, close the position.

Avoid news time.

A picture to illustrate:

[IMG]File:///C:/Users/IBUKUN%7E1/AppData/Local/Temp/moz-screenshot.png[/IMG][IMG]File:///C:/Users/IBUKUN%7E1/AppData/Local/Temp/moz-screenshot-1.png[/IMG]

renew:

Steve was kind enough to write an ea for this method. Please check the attachment.

The ea keeps watching the 24ema position and sends limit orders based on the distance you choose (bufferpips in the ea properties). The default is 20 points.

Please give this toy a try, but first understand the real basics of the method manually before trying the ea in the demo. You are responsible for your transactions, so please use responsibly.

Update 2:

Steve updated the EA and added 2 scripts for us to test. Read post #55 for details, but see Steve's statement below:

These two scripts will read the EMA for you and send the appropriate limit order at that price.

As long as you use the same magic number for the script and the EA, the EA will monitor the trades for you and (should) adjust the trade execution price based on the EMA. Set StopTrading to "true" and the EA will monitor and manage existing trades but will not send new trades after a trade is closed or deleted.

The only update the EA makes is to display the ticket number of the trade it is monitoring on the screen to confirm that it is processing the correct trade.

Update 3:

Squolou was kind enough to improve this strategy by making a dashboard. Please find the attached dashboard.

Update 4

Steve did it again. He came up with multi-pair trading EA for bread and butter trading. Please test it out and let us come up with the best optimizations for your bot.

View detailed instructions: http://www.forexfactory.com/showthre...33#post4820733

cheers.