Every Forex trader have own system for their open position, my first system is breakout system. why breakout? cause breakout price sometimes decide where price want to go, simple maybe but this system must support by other indicators like bolinger band, stoch and maybe we can add some moving average, and off course we have discipline to put stop loss. This e-book show how breakout system working.
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Filed Under (Forex eBook) by ForexDigg on 02-07-2008
Sometime we have to learn from the professional forex trader, why i said that? cause we have to know like what professional forex trader trade they money and we can take the positive from their experience also the story can become our motivated to trade at the forex market.
The content of this e-book are;
- GEORGE ANGELL KEYS IN ON VOLATILITY AND LIQUIDITY
- JAYE BERNSTEIN: PSYCHOLOGIST TURNED TRADER
- TOM BIEROVIC USES DISCRETION ON TOP OF HIS RULES
- WALTER BRESSERT READS MARKET VIA CYCLES & OSCILLATORS
- TOM DEMARK RELIES 100% ON MARKET TIMING
- GEORGE FONTANILLS INCORPORATES OPTIONS TO A LOWER RISK
- LEE GETTESS FOCUSES ON CONTROLLING RISK
- CYNTHIA KASE RELIES ON PROPRIETARY TECHNICAL INDICATORS
- GEORGE LANE STILL TRADING OFF STOCHASTICS AT AGE 75
- GLENN NEELY BUCKS TRADITIONAL ELLIOTT ANALYSIS
- GRANT NOBLE READS MASS MEDIA FOR CONTRARIAN SIGNALS
- LINDA BRADFORD RASCHKE FOCUSES ON TECHNICALS
- RICK REDMONT BASES TRADING ON WYCKOFF THEORIES
- ANGELO REYNOLDS SCALPS IN THE EURODOLLAR PIT
- PERSISTENCE PAYS OFF FOR JOE STOWELL.
- GARY WAGNER USES CANDLESTICKS TO MEASURE SENTIMENT
- BEN WARWICK’S “EVENT TRADING” KEYS IN ON NEWS
- LARRY WILLIAMS: TRAINING KEY FOR TRADING, RUNNING
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There is three strategy at this e-book
1. The BB Gun Strategy Rules
2. RSI Fade Strategy
3. The Slingshot Strategy
Each strategy very simple to follow, it just using moving average, bolinger band, RSI. Hope this will help you.
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When the first time i trade online Forex i found this great e book from ForexFactory.com maybe you will find the thread at the first page at ForexFactory.com. Phillip Nel really tech me how to use MACD at 4 hour time frame, but not just like that i try making the 89 Simple Moving Average at the 30mnt and 1 hour time frame it give me some pips to hehehhe, btw this really great e book Two Thumbs UP for Phillip Nel if i can i wanna give three or five Thumbs UP ….
View cut from the e book;
I stopped counting the pips for the April 2006 testing as it completely
convinced me of the success of this method. I randomly tested it using previous years
and the results were amazing. Average of 300+ pips per month and then I only trade
the trades that gives signals at these times 17:00, 21:00 and 01:00 (GMT +2). It gives
between 8-10 deals per month using the mentioned timeframes.. (I use Metatrader and
data supply by MIG.)
If you use patterns in the MACD that occur regular that gives results and use
them every time they occur you will most definitely make money.
I haven’t discuss nor used trendlines so far in this document and when you add
them it will most definitely helps you in defining your exit levels. The entry level are
determine by the MACD but the exit or profit levels is determine by support and
resistance levels. I use the moving averages as described earlier as well as Fibonacci
levels and then most definitely trendlines and price levels. I normally take the daily
graph and draw the trendlines according to it and then go to the 4 hour graph. I make
them nice and thick so that I can see them. Then I draw the different price levels such
as 1.2900, 1.3000, 1.3100 etc. It is amazing to see how the price find support and or
resistance at these levels.
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