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Old 10-01-2007, 11:08 PM
cochran1 cochran1 is offline
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Derk, I have been using this for a couple months. This is what I found works best:

1. Trade at the beginning of the London or US session.
2. Place trade on the 15min chart going in the same trend as the 4hr chart.
3. Set stop to breakeven after 15-25 pips depending on currency.
4. Then trade off of the 1hr chart placing stop after each hour at the heiken ashi low (long position) or high (short position).

I have not used the rule about > 50 RSI or < 50 RSI if the currency takes off in the same direction as the 4 hr chart at the beginning of the London or US session. Usually once it takes off it goes for several hours or at least to breakeven. thx mike
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