Hey All,

This system is meant for newbies. So before any oldtimers or the many people who always have a somewhat salted opinion come out of the wood works, just know that. I will introduce you all to a simple MA crossover system that works well on longer time frames for those with patience to endure it. Its an older type of system but works well none the less. Its a good way to see how Indies work together & how news effects the market.

There is a template attached along with the custom Indies.

The system is simple. When the MAs cross look down at the RSI. If its under/over the 50, look down to MACD. If its dipping or well below/above the 0.00, take trade in that direction. The MA's are as follow: 8 EMA Close & 14 EMA Open.



Now in the upper right hand corner is a Trend Strength Indi that has matching settings to the settings of the Indies. Red means down trend, Green means up. The brighter the green the stronger the up trend, the darker the red, the stronger the downtrend.

In the upper left hand corner is the upcoming news that will effect the currency pair you are on. Its there so you are aware of what & when. It includes a countdown timer & has a live feed from ForexFactory calender.

I recommend 1 HR or higher time frame, but you can use whatever you like.

Please demo it & let me have any feedback.

Good Luck,

Bear-

Attached Files

	scos.tpl (12.8 KB, 476 views)
	MACDTraditional.ex4 (3.2 KB, 412 views)
	FFCal.ex4 (32.1 KB, 451 views)
	_Signal_Bars_v3_Daily.ex4 (40.8 KB, 404 views)
	Support and Resistance.ex4 (2.3 KB, 427 views)

very nice work Big Bear why you dont post it on manual trading system ???
ive got a lot of e mail from new traders i think to start with a simple trading system its good news incoming its the best my advice 30 min before 30 min after news dont trade only if you can't trade the news

Very nice setup. Thanks Bear.

FerruFx

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OK everyone,

Today I will share with you simple ways to secure your profits & cut losses using this method with the given Indies.

OK so all your Indies give you a signal. You take your position. NOW WHAT!!!! WHERE IS MY STOP?!?!? MY TAKE PROFIT!?!?!?!?!

Well these are questions that only you & your fear & greed can answer. But, I will give you a safe (relatively) way to cut your losses & keep your profits running.

OK. STOPS.

As a general rule you should always use stops. In this method you should place your stop above/below the support/resistance line. The size of your stop will depend on the pair & the time frame. It should also conform to your risk appetite & money management rules.

1st pic below is an example on the GBP/JPY 1 HR.



OK. TAKE PROFITS.

This is 1 of the most debated topic in Forex. Where the hell do I get out? In this method we implement a step method. You should always have a goal in mind but you should also be willing to go beyond it. If for example you are up 20 pips & your goal is 100, stick to it. If the trade looks good then let it go. I almost never close out manually. I follow my trade with stops at certain levels. With this method those levels are the new support/ resistance line created as time goes on. Using this method you will catch the breakouts that happen when price breaks the S&R lines (excluding news times.) So when you get to a certain point you are locking in profits. You can just relax & let it go. 2nd pic below is an example.




Of course these are set & forget settings. If you had a goal of 200 pips you would have hit it. Its all up to you. I try to make it easy & not spend all day watching the charts.

OK. Shoot questions to me here or PM me.

Have a great week.

Bear-

Hey All,

I will talk about Money Management. This is without a doubt the SINGLE MOST IMPORTANT ASPECT OF TRADING!!!!


Why is it so important you may ask? Well the simple answer is without proper money management all your hard work & dedication will slip out of your fingers with 1 or 2 bad trades that YOU WILL HAVE!! You have heard the saying that the only guarantees in life are death & taxes (or VAT ). Well I beg to differ. I also guarantee that you will take a losing trade. Many many times. As a mater of fact most institutional traders take many many small losses but their gains are enormous. I have a few associates who tell me that they only have (on average) 30-40 % successful trades.


Well how do they make money? Proper MONEY MANAGEMENT. What is money management? It is in the simplest terms how to manage your wins, losses, equity, profits or what ever you want to call it, in such a manner as to keep as much capital in your account as you can. After all, whats a trading account without capital.


When it comes to management of your account, there are many ways to go about it. I hate being vague but not everyone would be comfy with a singular method. However, there are some basic principles that everyone can start with.


Risk to Reward Ratio


When planning your trade you should know ahead of time how big your stop is going to be VS how much you are going for. At the very least you RTRR should be 2:1. For example if your goal is 50 pips on a certain trade than your stop should be no more that 25. This way even if you sustain 2 losses for every win (33% win rate) you will not lose any money. I personally have a 3:1 RTRR but I am comfy with that. NEVER risk more than you want to win. Thats just common sense. I have seen many trading systems & methods that will lead you to believe that its ok to have a 100 pip stop to gain 50 or less pips. Nonsense. If you take a loss you need to win 3 times in a row just to make it all back when adding spread & swap.


Cut your Losses & Let Your Profits Ride


Once you are in a trade & you have your Stops set, don't change them. Never add to a stop. Why would you want to lose more? If the trade is not working, its not working. On the flip side if your trade is doing well, why close it? If you are able to monitor your trade & it does not look like its slowing down, secure some pips & let it ride. In the early days of our trading careers (Forex11 & myself) used to always close our trades just to come back later & see that we missed out on a great move. Instead of following our trade with calculated moves, we let our fear take over & it cost us plenty of pips. So from this section take this saying with you, “ PLAN YOUR TRADE & TRADE YOUR PLAN”


Never Let a Winner Turn Into A Loser


One of the biggest mistakes traders make is when they let a trade in profit go to negative & even a loss. That should never happen. A simple & effective way to make you trade a winner is to move your stop up when your in profit by 25% of your goal. For example if you are going for at least 100 PIPS & your trade moves up around 25 pips you should move your stop to break even or break even +1 or 2 pips. That way no matter what happens you will not take a loss. Getting stopped out of a trade early with 1 or 2 pips is better than taking a loss. Anytime, any day.


Do Not Over Leverage Yourself


Its up to you on how much of your account is used for trading. Most say you should never risk more that 1% or 2% per trade. Now by risk they mean if you take a loss it should equal 2% or less of your account. So lets say you have $500. Your risk for loss in all open trades COMBINED should be $10 or less. Now in a micro account with average pip value of .10 Cents that means you can withstand a 100 pip loss & be at 2%.


Now some people (like myself & Forex11) have a bit more risk tolerance. I trade significantly higher % of my account. Some people may say that I am crazy but there is a method to my madness. I start at a base % of my account to trade. With every successful week of trading, I add a % to my risk & continue in that fashion until I hit my % threshold. If at any anytime I suffer a loss, I reset back to my base %. This way I keep some of my profit & continue to earn at a faster rate.


Well thats it for now.


Take Care & Good Luck,


Bear-

Please give us the hard part of any trade: the take profit and the stop loss.

Interesting system. Well designed.

I will test adding our calendar and will post the template

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Hey Dreamliner,

This is what do with this method. You can adjust as u se fit or do something else. Its all on u.

Good Luck,

Bear-

Hey Linuxser,

Thank you. That would be great. Thanks for ur input.

Bear-