Forex Professional System Trading - Simple Systems For Trading Forex

Oct. 30, 2010 - PRLog -- Forex Professional System Trading

For forex professional system trading there is a system called "Simple Forex System" that uses a chart with three intervals; 1 hour, 30 minutes, and 15 minutes. You then set your EMAs (exponential moving averages) at 10, 25, and 50. Then when the 10 EMA goes through the 25 EMA and continues through the 50 EMA, you buy/sell in the direction the 10 is moving as it breaks through the 50. You would need to set a stop loss at 25 pips and a limit of 50 pips (the strategy being that when you win you win twice as much as you lose when you lose). Based on this system if things go right just 50% of the time you should make money. Others have found that they get could results by setting their EMAs at 5, 13, and 62 and achieve similar results.

There are other simple systems for "forex professional system trading". Another one with a simple set of indicators works with any time frame and any currency. The indicators are 5 EMA, 10 EMA, Stochastic (14, 3, 3), and RSI (14, 70, 30). The entry rules are to buy when 5 EMA crosses above 10 EMA and Stochastic lines are heading up and Stochastic is not in an overbought position and RSI is above 50; or sell when 5 EMA crosses below 10 EMA and Stochastic lines are heading down and Stochastic is not in an oversold position and RSI is below 50. The exit rules for this system are when 5 EMA and 10 EMA cross in the opposite direction or if RSI crosses the 50 mark again.

Another simple but profitable forex system is the 3 duck system and is set up as follows:

Step 1 - First Duck
Look at the largest time-frame (4-hour chart) and see if current prices are above or below the 60 SMA. If the current price is below the 60 SMA, this tells us that we may be looking to sell. Get your Forex Professional System Trading @ http://funeasyforex2.blogspot.com/?tid=prlog311010 and be Successful forever!

Step 2 - Second Duck
The second step is to drop down to the 1 hour chart. The current price must be below the 60 SMA on this chart also. This gives us confirmation.

Important: If the current price was to be above the 60 SMA on this chart we could not move on to step 3.

Step 3 - Third Duck
If steps 1 and 2 are confirmed, look at the 5 min chart and look to sell when price crosses below the 60 SMA. For extra confirmation, let price break the last low on the 5 min chart. This would mean that prices will be below their 60 SMA's on all 3 time-frames, therefore all 3 Ducks are lined up in the same direction.

Stop-Losses: For short term traders, your stop-loss above the highs on the 5 min or the 1 hr chart. For positional traders, you may wish to put your stop-loss above a high on the 4 hr chart. You could also use a fixed stop-loss, maybe 25-30 pips or more from entry.

Other systems only work with certain currency pairs or within a certain time frame.

Some of the best traders agree that trading is simple and to succeed you need to stick with a simple system.

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