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Categories
- Technical
- Fundamental
- Scalping
- Trend Following
- Range-Bound Trading
- Day Trading
- Swing Trading
- Long-Term Trading
- Metatrader Only
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- Martingale Trading
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- Divergence
- Breakout
- Price Action
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Forex trading system "The Bible Forex System"
Learn to trade the trend using the Bible Forex System
This strategy should work well long term with this system and does bring in a good amount of pips per month. One can start trading at 6 am EST and wait till the trades are found. Usually within 3 hours, you are done. At all times, one should follow the trading rules as a trader that is consistent in his rules is a successful trader.
Details
Categories: Technical, Trend Following, Metatrader Only
Timeframes: 1 Hour
Currency pairs: EURUSD, GBPUSD
Trading sessions: 6 AM EST
Indicators used
- Fisher M11
Range Periods: 10
Price Smoothing: 0.3
Index Smoothing: 0.3
Download Fisher M11 Indicator
- HMA
HMA_Period: 20
HMA_Price Type: 0
Vertical Shift: 0
Download HMA Indicator
- FlatTrend
Minutes: 0
Download FlatTrend Indicator
Entry rules
Vice versa, we open a buy order when the HMA indicator, the Fisher_m11 indicator, and the FlatTrend indicator are showing blue colors as shown in the following picture.We open a sell order when the HMA indicator, the Fisher_m11 indicator, and the FlatTrend indicator are showing pink colors.
Trade management
The takeprofit and the stoploss are described in the following exit rules.
Exit rules
The trade will exit by itself after we set the takeprofit to 40 pips or close at a loss or profit if the signal is in the reverse direction as shown in the following picture.
Advantages
The Flat Trend indicator helps to filter away the sideway market so that it has a higher probability rate of winning.
Disadvantages
Patience is required to wait for the trades as the rules are only created for trending market.
Metatrader 4 chart template files
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a very nice stretegy which shows good trading plan