Learn my simple strategy

[myfxpt]

If you are familiar with Moving Averages, RSI, and MACD, you can learn my strategy quickly, and for free. I've put together a basic strategy section on the website that outlines how I trade. I am no scholar or academic, so what seems complete and makes sense to me may need more work...I'm sure you will let me know one way or another, or you can email me with any questions / criticisms, etc. I publish my results at FX Blue, and you will find 5-minute updates published on the myfxpt homepage.

The two attachments below show month-to-date results with my HF demo and ADS live accounts...not a lot of data to assess, I know, but looks promising so far.

Cheers, Gary!

 

[tomorton]

Generous, thanks Gary.

Overall, looks very rational, trend-following stratagey with meaningful entry signals. Similar to what I'm doing but there must be thousands of possible variations on the theme, all can work.

Purely personal observations -
firstly I don't trust off-chart indicators like RSI / MACD so never even look at them:
secondly, as well as checking price action for a long/short trade is actually moving in that direction, I check how many consecutive preceding weekly bars overlap with the last one completed, e.g. EUR/USD bar for week ending 08/05 only overlapped by 1 consecutive preceding bar: on same chart weekly bar for w/e 01/05 overlapped with 11 weekly bars - simple objective way to prove momentum.

Wishing you success.

 

[myfxpt]

Generous, thanks Gary.

Overall, looks very rational, trend-following stratagey with meaningful entry signals. Similar to what I'm doing but there must be thousands of possible variations on the theme, all can work.

Purely personal observations -
firstly I don't trust off-chart indicators like RSI / MACD so never even look at them:
secondly, as well as checking price action for a long/short trade is actually moving in that direction, I check how many consecutive preceding weekly bars overlap with the last one completed, e.g. EUR/USD bar for week ending 08/05 only overlapped by 1 consecutive preceding bar: on same chart weekly bar for w/e 01/05 overlapped with 11 weekly bars - simple objective way to prove momentum.

Wishing you success.

Firstly, thanks for your feedback and encouragement. The fact that this is similar to what you do tells me that I am on the right track with perhaps the exception of RSI and MACD.

Secondly, what really interests me is your use of "overlapping" weekly bars to prove momentum. Just to be clear, are you saying that because the EURUSD weekly bar ending 08/05 only overlapped 1 consecutive previous bar, whereas the 01/05 bar overlapped the previous 11 consecutive bars, this confirms momentum behind the price breakout?

Cheers, Gary.

 

[myfxpt]

Firstly, thanks for your feedback and encouragement. The fact that this is similar to what you do tells me that I am on the right track with perhaps the exception of RSI and MACD.

Secondly, what really interests me is your use of "overlapping" weekly bars to prove momentum. Just to be clear, are you saying that because the EURUSD weekly bar ending 08/05 only overlapped 1 consecutive previous bar, whereas the 01/05 bar overlapped the previous 11 consecutive bars, this confirms momentum behind the price breakout?

Cheers, Gary.

It's OK...I got it! Nice tip!