Hi I have developed a forex trading system which has made good returns in the last 5 month of demo trading I am planning to go live this week.
My system is as follows
I use a candlestick chart with daily bars over a 6 month timeframe
I go long when the slow stochastic indicator is in the 20% oversold zone and the MACD at 12,29,9 shows a change in market movement and for short positions I use the same but when the slow stochastic is in the 80% overbought zone. Once these long and short positions are present I put a stop loss of 2% of my capital and a take profit of 6%.
I use this on 10 forex pairs and on average make about 7 trades per month and positions are usually open anything from a few days to 2 weeks or more.
I have made a 30% return in the 5 month of demo trading this system using leveraged CFDs the first 3 month I made good returns the last 2 month I have made small gains.
Any advice will be much appreciated
My system is as follows
I use a candlestick chart with daily bars over a 6 month timeframe
I go long when the slow stochastic indicator is in the 20% oversold zone and the MACD at 12,29,9 shows a change in market movement and for short positions I use the same but when the slow stochastic is in the 80% overbought zone. Once these long and short positions are present I put a stop loss of 2% of my capital and a take profit of 6%.
I use this on 10 forex pairs and on average make about 7 trades per month and positions are usually open anything from a few days to 2 weeks or more.
I have made a 30% return in the 5 month of demo trading this system using leveraged CFDs the first 3 month I made good returns the last 2 month I have made small gains.
Any advice will be much appreciated
