My forex trading Plan

[tafadzwa02]

Buys , i got a tarding plan i got from somewhere and it seems to be workin, check this one out and tell me what you think.

Trading Setup
Trade on daily chart (swing trading)
5 EMA applied to the close
10 EMA applied to the close
Stochastic (10,3,3)
RSI (14)
Trading Rules
Stop Loss = 30 pips
Entry Rules
Enter long if:
The 5 EMA crosses above the 10 EMA and both stochastic lines are heading up (do not enter if the stochastic lines are already in the overbought territory)
RSI is greater than 50
Enter short if:
The 5 EMA crosses below the 10 EMA and both stochastic lines are heading down AND (do not enter if the stochastic lines are already in oversold territory)
RSI is less than 50
Exit Rules
Exit when the 5 EMA crosses the 10 EMA in the opposite direction of your trade OR if RSI crosses back to 50

 

[Rossini]

30 stoploss on a daily chart??? With ranges in the 100's?

 

[tafadzwa02]

sO ARE YOU SAYING I HAVE TO INCREASE MY STOPS? I HAVE TRIED IT BUT I TEND TO LOSE MORE WHEN I INCREASE MY STOPS , AND WHEN I AM RIGHT I WIN BIG AS WELL.TRY IT AND TELL ME WHAT YOU THINK , ITS A SIMPLE ONE BUT IT WORKS

 

[Rossini]

Im not going to try your 'method'. If you think 30 pips is fine then great. If it works why are you asking if it needs changing?

 

[SuperScalper]

this is not a trading plan is a strategy !!!

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