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tips1

with our initial 5 EMA and 10 EMA crossover method we could use additional 20 EMA line and wait until 5 EMA crosses 10 EMA (which is the first signal) and continues through 20 EMA (which would be our confirmation for action).
2:43 PM 7/4/2010

Parameters:

- EMA 5, 9, 18, 55
- MACD default
- Timeframe 4H, 1D
- Currency : Any

Buy Signal:

- EMA 5 and 9 cross above EMA 18 with 5-day EMA at 10 pips distance from the 18-day EMA
- Price action above the 55-day EMA
- MACD Signal crosses above the MA Signal of MACD indicator and MACD Histogram above 0
- TP : 90 pips or more
- SL : 45 pips with trailing at 45 pips

Sell Signal:

- EMA 5 and 9 cross below EMA 18 with 5-day EMA at 10 pips distance from the 18-day EMA
- Price action below the 55-day EMA
- MACD Signal crosses below the MA signal of the MACD indicator and MACD Histogram below 0
- TP : 90 pips or more
- SL : 45 pips with trailing at 45 pips if


General rules:

1. trade only overbought or oversold markets.
2. do not trade the news (cuz i lost 25% of my account by trading news)
3. avoid trading on Fridays.
4. take profit using pivots points or Fibonacci points
5. do not over trade.

6. after every trade write down it’s details.
7. leverage to be used is 1:100.

Entry rules:

1. after a MACD crossover wait for the candle to close and wait for parabolic SAR to confirm the reversal after this check whether RSI supports the entry decision by being in overbought or oversold region then check for any major news releases

Exit rules:

1. follow a risk to reward ratio of 1:2 or 1:2.5.
2. as soon as the take profit of 20 or 25 pips is hit exit the trade(this is also on of the problems most of the times the trade goes in my favor upto 40-50pips so i kinda cut short my profit, if you could help me with this too).

3. stop loss is 7% of my total account.
4. if the trade is a success. get out no more trading for that day.
*my every day target is at least 10 pips and my maximum limit is 25pips


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