Forex Trading System

Forex Trading System
The "RickyD" System

It would not help you much to tell you how I do as we all put something different into our trades with emotion and knowledge that we don't even think about. I found that out as I was trying to get the rules down to have an expert made. After many attempts I found the only way to get it was write down what I did and thought about as I was trading and that is what has become the Ricky D Strategy / System.

One thing I have to say as I have heard over and over, I used such and such system and it just didn't work for me. I heard this about the FX Wizard and as far as I am concerned it was one of the best systems I have used. I made good money at it and found and used some of its best stuff here in my system.

So what is the problem? First of all you have to follow the rules and not try to improve it before you know how to use it. I read where the founder of the Turtle System said he did not fear putting it out because only a very few would follow the rules and be winners with the system. So, this system is as good as you will be at following the rules and setup. I have taken the best of many systems I have obtained and made one that works for me. I have added some things as the market has changed since I have been using it and it pretty much works on any market that has some volume and movement, driven by trend or price. Just don't trade it on a choppy market all you do is pay your broker his spread and you lose.
I have worked the settings on these indicators until they work. They can be used on the 15, 30 minute, and 1 hour with success. They will even work fairly well on the 5 minute if anything really does. I like to use the 30 minute and just so you know I don't check other time frames, I just park and trust the indicators.

I trade the 4 majors and trade from 2:00AM till about 10:00AM or the volume drops EST or (-5 GMT). I try not to be in a trade during news releases.

I have found as many have said, a trend is not a trend until it starts to move. I follow what the chart is doing, not what I think it will do. I used to give up to many good trades thinking the market was in a certain trend. My bias did not help me but hurt me and my trades. You can only act upon what is happening on the charts so anything else will kill your trades.

Four Indicators:
CCI (5) Line at +100, 0, and -100
Forecast Oscillator: Rperiod (15) t3_period (3) and b(0.7) Line at 0
Relative Vigor Index (1) Line at 0
ADX (14) Line at 20
(“Pivot” custom indicators / BT1 / BT2Sig / BT2Stop / Volume /)

Directional Indicators:
5MA (Linear Weighted/Close) Red
20MA (Linear Weighted/Close) Blue
100MA (Linear Weighted/Close) Green
200MA (Linear Weighted/Close) Sandal wood

* The cross of the 5MA with the 20 MA favors the direction of the trade, (5MA on top favors Long trade, 5MA on bottom favors Short trade. And don’t trade too close to the 100MA, acts as a resistance line).

Entry (Long):
The CCI needs to be greater than (0).
Forecast Oscillator needs to have both lines above the 0 line with the blue line on top.
The RVI needs to have both lines above the 0 line and the style (Blue) line on top.
The ADX Main and DI+ need to be at least 20 and rising.
No BT2Stop in the way of the entry bar.
Must be 15 pips away from a support or resistance line. (“Pivot” in custom indicator folder)
The 100MA(LW/Close) no closer than 20 pips in the direction of the entry.

Entry (Short):
The CCI needs to be less than (0).
Forecast Oscillator needs to have both lines below the 0 line with the red line on top.
The RVI needs to have both lines below the 0 line and the red line on top.
The ADX Main and the DI- need to be at least 20 and rising.
No BT2Stop in the way of the entry bar.
Must be 15 pips or more away from support or resistance line.
The 100MA(LW/Close) no closer than 20 pips in the direction of the entry.

Exit: The RVI lines cross with the wrong color on top and a slight separation in them (0.2) (or) the RVI Style line crosses the 0 line against the trade. (up while in a short / down while in a long) which ever happens first.

Forex Trading System 2008-09-30T22:39:00-07:00 Rating: 4.5 Diposkan Oleh: admin