Hello I'm starting this to help my trading and to post my set up for input from the community. Next post will be my set up and a screen shot. After that my rules (but there not finished, being written down still)

Personal Set Up
The Setup:
1. Open up your trading platform and open a chart.
2. Set the instrument to the currency pair of your choice. (I’m trading the USD/JPY, GBP/JPY, EUR/JPY and GBP/USD)
3. Set the chart pattern to filled candle.
4. Set the timeframe to 15 minutes or 5 minutes (works on all timeframes, longer time frames better, but I have a hard time trading them)
5. Set up a moving average line in your indicators menu. -set period to 5, exponential, close
6. Set up a moving average line in your indicators menu. -set period to 11, exponential, close
7. Set up a moving average line in your indicators menu. -set period to 50, exponential, close
8. Set up a moving average line in your indicators menu. -set period to 200, exponential, close
9. Set up your favorite Pivots
10. I have a few extra things thrown in on my charts, candle timer, magnified price, a 5EMA/6EMA cross alert and on my fast MACD I have a 4 color OSMA stacked behind it (I like the visual look of it better). None of this is need, just how I set up my charts.

Now that you have your chart setup properly, go ahead and set up your normal indicators that you use for reassurance and entrance/exit, etc. I use a Slow MACD (40/80/10) and Fast MACD (8/24/9), a Stoch (8/3/3) and Step RSI 14/5/15, but everyone has their own theory on what works and why, and everyone has a reason why your indicators don’t work when they seem to work just fine for you!

OK let’s look at the Different Pieces and how I’m using each piece:

200 EMA= Longer term trend, support/resistance and price above I’m looking to go long, Price below I’m looking for shorts(Mainly)

50EMA= Balance Point Line, shorter term trend, adds to the strength of a trade when the 5 and 11EMA cross and then cross 50EMA, support/resistance. Price above looking long, price below looking short

5EMA and 11EMA= what’s going on right now in the market. The Main EMA cross I’m trading and using with support from indicators on bottom of chart. Also watching how the 11EMA crosses the candle, when the candle closes and the 11EMA is running right thru the middle of the candles body, Strong Trade after checking indicators for support and looking for next candle to support the direction.

Fast MACD (8/24/9) Main indicator cross I’m using to support the 5/11EMA cross

Slow MACD (40/80/10) longer term trend, better to trade with and not against when it has angle and separation. Helps you to hold trade longer (once in and up pips on trade).

Stoch (8/3/3) (my levels on stoch, 90/80/50/20/10) Support for Fast MACD and different view of price, Shows overbought/oversold areas better.

StepRSI (14/5/15) or standard RSI (14) (fixed min. 20/fixed max 80) Support for Fast MACD, below 50 look short, above 50 look long.

Attached Images

GBP15m.jpg (247.0 KB, 160 views)

I've always had problems putting down on paper my trading rules. This is a weakness I have but they make sense in my head. But when trying to put the rules on paper, I tend to either over write them and they become way to long and hard to follow or I over simplify then and there worthless. My exit strategy is a big help to me, I tend to exit trades way to early and then don't have a good signal for a place to reenter the move. My exit strategy is written down but it's far to long and full of screen shots to post. I will work on shorting it this weekend. But in a nut shell, I'm using fibs for my exit(not for my entry) I set up Fibs( 0,25,38.2,61.8,75 and 100 only)The 25 and 75 are from something somebody taught me. But I'm watching after a 40 pip or more move to draw my fibs and watch the retrace. unless I get a candle closed above the 75 line. I'm holding the trade( unless all indicators turn against me) I keep redrawning the fibs as the trade moves. Also I have cheat sheets made up on each currency, so I know the daily ranges and when and for how much it tends to run when a trend does start. If I'm past the daily range on that currency, I will hold that line and be happy with a very nice trade. Yes this fib exit will return some pips, but i'm holding my trades far longer and over all have doubled or more my pip total on nice moves. Just my thoughts, not really doing this for you guys, but to keep me focused and moving forward. But I would be happy if this helped even one trader out there.