Looking for simple Forex Trading system

2 Step System

"The finest trading system in the history of human endeavor " (Winston S Churchill)

Step 1 - Buy Low
Step 2 - Sell High


brownie3 said:
Hi all,

Can anybody recommend a simple but effective system for day trading the Forex. I have read some reviews on the book, 'Trade Day by Day' written by Chick Gosling, does this book recommend a system for day trading the Forex or is it just for Futures trading.

I am currently using the ADX/DMI to trade during the day. This is ok and a simple system, but often I am waiting for long periods for ADX/ DMI to rise above certain levels before I can place a trade.

Thanks in advance for any advice/recommendations.
 
Example from today's trading

See attached:

Anonymous said:
If prices have already reached the summit of all summits can you still buy low?
 

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Refer to CME Euroyen 3 month:

The closing Pit-Traded price as of 08/12/05 04:00 pm (cst), settled 99.905.

Assuming it stays trading at 100.00, can you still buy low?
 
My Fx system

brownie3 said:
Hi all,

Can anybody recommend a simple but effective system for day trading the Forex. I have read some reviews on the book, 'Trade Day by Day' written by Chick Gosling, does this book recommend a system for day trading the Forex or is it just for Futures trading.

I am currently using the ADX/DMI to trade during the day. This is ok and a simple system, but often I am waiting for long periods for ADX/ DMI to rise above certain levels before I can place a trade.

Thanks in advance for any advice/recommendations.

Hi,

Just set your ADX/DMI =21
EMA = 5
EMA = 18
Entry when cross signal
 
Hi all,

Can anybody recommend a simple but effective system for day trading the Forex. I have read some reviews on the book, 'Trade Day by Day' written by Chick Gosling, does this book recommend a system for day trading the Forex or is it just for Futures trading.

I am currently using the ADX/DMI to trade during the day. This is ok and a simple system, but often I am waiting for long periods for ADX/ DMI to rise above certain levels before I can place a trade.

Thanks in advance for any advice/recommendations.

Try this. Is free:
http://www.datatime.eu/public/gbot/

probably the best automated platform around. Has also backtesting engine incorporated both with past data or random data. Trades entire folios of instruments.
 
Had a look at the website, does it work with MT4? And are you currently using it?

I asked for a copy (this has "private" distribution only), but frankly i am still "paper trading" and evaluating. It targets IB only. Especially great for futures and etfs. It does not need to work with other software, it's a complete platform.

It's a full blown robot which trades entire folios of any instrument (can even trade options). It's completely visual and shows each move for each instrument tick by tick. Also shows visually all orders it makes. Shows complete graphical reports. Can stay up practically forever (including saturdays) and never quit trading, connected to the IB Gateway.

A sort of highly specialized trading machine for folios of intruments (can load as many symbol as you wish, up to IB limits). It has backtesting integrated running through the same trading engine. Works both with past tickdata or random data it can generate (there are various random models.) Random data is good to test strategies avoiding curve fitting.

It has preset strategies but one can setup his own strategy. It allows to save trading sessions and restore trading from other machines or to resume trading sessions after any possible disaster. Quite impressive autotrader.

(y)
 
I'm reasonably new to forex .
Failed a few times at first trying different strategies .
The best system that suits me is a medium to long term martingale .
Its a basic strategy .
Use all minor/major/exotic pairs with a positive swap as u may be holding for a while .
Use 200 pip blocks and keep doubling ie: 0.01,0.02,0.04,0.08 etc .
I've been using it with a micro account for a month now and my account has'nt blown up yet .
Interested to know how many pips a currency pair may move before a retracement .
Like whats the record ? 2000 pips ?

PS: made 30% so far
 
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