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Originally Posted by amin1000
Hi SR2,
thanks for your simple system.
I started using it by entering in the last cross of MA40 and PSAR (about 24 hours ago) but it is going down. Am I doing something wrong or I just have to be patient?
thanks.
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Hi amin1000
Not entirely sure what you are asking me but I will clarify how I get into the trades and hopefully you can follow. I use Metatrader to confirm trades.
1) Setup the indicators I have mentioned
2) Wait for fast MA to crossover slow MA. This will let you know that there is a potential trade coming up. This usually happens several hours before the actual trade so you do have be patient
3) When the PARSAR
crosses over or touches the SlowMA check what the pip difference is between the slow MA and the open price. If the difference is below 100 pips you have a trade. If it is more than 100 do not trade.
4) Set a SL and TP of 100 pips. The TP needs to be investigated because as I mentioned in a previous post there are a lot more pips to be had if the TP strategy is setup correctly
These are the very basic rules I follow. I hope you can follow them too. The idea is to try to control your emotions (which I am still having difficulty with.) You can set the trades and walk away. The nice thing is the system gives you am idea in advance of potential trades i.e. the MA cross so there is a potential trade. You can them check back every 4 hours for a trade.
Hope that helps
SR2