Great technique for beginners...

[GBPUSD TRADER]

Originally Posted by Karsten

Most trades seem to happen between 11pm EST and 7am EST. Sometimes there will be 8 or 10 per day. I usually will only be in no more than 2 at a time, so I let a lot of pips go by, but that doesn't bother me anymore. I'm finding the EUR and CHF work the best, but that it does work with the other US pairs. GBP and EUR/YEN need wider stops, and NZD and AUD/USD need smaller limits. If I don't have my limit after 4 hours(and I have the patience to wait) then I exit at whatever profit or loss I'm at.



Also, study the thread with the 50 wma thread. It mirrors the KS line. Sometimes, it will get you in 5-10 pips sooner. Other times, the KS will get you in sooner. I'm trying to use them to confirm each other. I'm just not going to complicate my life with any other indicators until this system doesn't work anymore.

That's all there is to say about that system. Good luck, Karsten

Dear Karsten, I am not an expert at writing MQ experts, but can and will give it a try. What pair give you best success and typically how many pips per week are you banking. Are you using the original method told by Akash (http://www.moneytec.com/forums/showp...5&postcount=82) or have you modified it? thanks.

[Karsten]

GBPUSD Trader, GBP usually works pretty good, but all the USD pairs work. It seems to vary week to week which pairs work best.

The only thing I don't bother with is the 20 wma, it only tells me what I already know-the price is moving. I had been waiting for the candle to close on a cross of KS, but now I see that Akash only waited for a cross and not a close.

Karsten

[fxmktlgc]

You wait for a cross and then a 15 pip move before entering, right?

Originally Posted by Karsten

GBPUSD Trader, GBP usually works pretty good, but all the USD pairs work. It seems to vary week to week which pairs work best.

The only thing I don't bother with is the 20 wma, it only tells me what I already know-the price is moving. I had been waiting for the candle to close on a cross of KS, but now I see that Akash only waited for a cross and not a close.

Karsten

[Karsten]

No, a 15 pip move before the cross.

[Karsten]

GBPUSD Trader,

I forgot some of my results. It all depends on the number of trades you get into, and how long you stay in. Entry is easy, but exits are the key to profits. Everybodies input is appreciated. My best week was 140 pips on 10 trades. Last week I netted 64 on 7 trades, and I didn't start until Wednesday. I counted 12 more from Monday and Tuesday that could have gotten 25 pips each. Don't get too excited by my results. I'm just a hack swinging the bat, and I just happen to be getting some hits. I haven't had a losing week, though, on this system.

This is the only system I have. No room in the brain for anything else. I am looking at the possibility of placing an entry order between the KS line and the current price to see if I can catch a bigger part of the move. But, I won't do that on my live account, yet.

Anybody else trying this?

Karsten

[fxmktlgc]

Thanks. How you define a 15 pip move before the cross, though? A bullish candle (for long) or bearish (for short) that's more than 15 pips, and then a crossing?

Originally Posted by Karsten

No, a 15 pip move before the cross.

[GBPUSD TRADER]

Karsten thanks for your input, I will strive to code and EA for the strategy.

[Karsten]

Originally Posted by fxmktlgc

Thanks. How you define a 15 pip move before the cross, though? A bullish candle (for long) or bearish (for short) that's more than 15 pips, and then a crossing?

I just like a strong move of one to three steps.

Look at the move of USDYEN. It spiked down at the open, but then went up and crossed at 114.22 at 11pm est. There was 20 pips(I was still asleep).
Where as with the GBP the KS just came up to meet the narrow price range at 1 am est at 1.7758, I wouldn't have traded that one. I bet it still will make 15 or 20 pips, though.

Karsten