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Re: MT4 Trading Systems (Old or new!) Please post here

RplusT, Tue Dec 15, 2020 11:49 pm

josi wrote: Tue Dec 15, 2020 11:17 pm
Hope, you don't mind me asking:
Minor but important details are missing:
I take it you used the Stoch as entry & exit trigger? (Hope, you don't mind: Stoch 10,6,5?)
Did you only enter after price had touched MA (or MAs) & and when there was a clear directional bias?
I take it you used the 2 EMAs for directional bias?
Where was your SL (outside the slow EMA)?
Where was your TP (ADR?)
The EMA's I use for directional bias. I believe its far superior to systems using MA crosses. Actually forgot to mention that I got the 100 EMA (thin line) on the chart too.
As you can see, the 143 and 233 often act as S/R. The Stoch needs to be in line with price direction...i.e. I'd never trade against it. If you trade long term, you'd use the Stoch for exit too. Secondly, if a trade is not obvious, I just skip it. I'm not spending time to figure out "should I or should I not". And of course you need to go with the flow of higher TFs. My SL is outside either the 143 or the 233...... (Nice scalping entry on the US30 for fun just before I prepared the chart to post. Could not resist...... :D ).
TP's .....Well, if you use Stoch for exits, the TP's are there. If there's a nice run, I look for the next S/D levels. But then, I'm often in favour of just cashing in if I feel I should do so. There are another 100 trades ahead, isn't it.. :D Of course, above the EMA's only long trades and below only short trades.

Makes me smile that in this forum of a 1000 sophisticated Indicators we talk about simply using 2 EMA's. It just proves that keeping it simply can be most effective.

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