Scalping or short-term trading is a trading strategy that the trader will trade small profit but in high frequency, maybe 10-100 or more times daily. It is based on the notion that a currency is very fluctuate, so it would be better to take small profit from small movement than to take large profit.

Author Topic: Rising Sun Forex Trading Strategy - Forex Trading System for MT4  (Read 591 times)

AbroshinToy

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Rising Sun Forex Trading Strategy - Forex Trading System for MT4


Rising Sun Forex Trading Strategy - Forex Trading System for MT4

Buckle up as we take you through this exciting experience of revealing a well thought out forex trading strategy that is visually enhancing.

This forex trading strategy is simple designed to deliver profits and does add a lot of simplicity to trading.

Chart Setup

MetaTrader4 Indicators: iTrend.ex4 (Input Variable modified; CountBars=30000), RenkoColorBars1.ex4 (Colors Width modified; #0=4, #1=4)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any

Currency Pairs: Any pair


Strategy

Long Entry Rules

Take up buy position(s) if the following indicator or chart pattern gets displayed:

    If the silver RenkoColorBars1 custom indicator is displayed on the price chart as seen on Fig. 1.0, price is said to be pushed to the upside i.e. a trigger to buy the currency pair of focus.

    Watch out for the blue vertical lines of the iTrend custom indicator, if it does pop up above the 0.00 level as illustrated on Fig. 1.0, the sentiment in the market is said to be bullish i.e. a signal to buy the asset of interest.

Stop Loss for Buy Entry: Place stop loss 2 pips below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

    If the RenkoColorBars1 custom indicator turns fire brick during a bullish signal, it is an indication of weaning bulls power, hence an exit or take profit is advised.

    Upon the appearance of a red vertical line above the 0.00 level within the iTrend custom indicator window, price is said to be making a reversal away from its ongoing bullish stance, as such traders are advised to exit or take profit straightaway.

Sell Entry Rules

Take up sell positions if the following holds true:

    If the fire brick RenkoColorBars1 custom indicator is displayed on the price chart as shown on Fig. 1.1, price is said to be pushed to the downside i.e. a trigger to sell the currency pair of interest.

    Watch out for the red vertical lines of the iTrend custom indicator, if it does pop up above the 0.00 level as depicted on Fig. 1.1, the sentiment in the market is said to be somewhat bearish i.e. a signal to sell the asset of interest.

Stop Loss for Sell Entry: Place stop loss 2 pips above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

    If the RenkoColorBars1 custom indicator turns fire silver during a bearish trend, it is an indication of halting bears power, hence an exit or take profit is advised.

    Upon the appearance of a blue vertical line above the 0.00 level within the iTrend custom indicator window, price is said to be making a reversal away from its current bearish stance, hence market participants are advised to exit or take profit without delay.


About The Trading Indicators

The iTrend.ex4 custom indicator is a modified Bollinger Bands indicator that can also be used to determine changing volatility in the market.

The RenkoColorBars1 custom indicator is based on the Renko chart that is based on time or volume, as well as price change when trading.

The RenkoColorBars1 disregard time and volume, while considering only price changes.

 

REQUIRED Government Risk Disclosure Statement:

All Trading involves risk. Leveraged trading has large potential rewards, but also large potential risk. Be aware and accept this risk before trading. Never trade with money you cannot afford to lose. All forecasting is based on statistics derived from past performance of any trading methodology is no guarantee of future results. No ?Safe? trading system has ever been divided and no one can guarantee profits or freedom from loss.

RISK DISCLAIMER: All forms of trading carry a high level of risk so you should only speculate with money you can afford to lose. You can lose more than your initial deposit and stake. Please ensure your chosen method matches your investment objectives, familiarize yourself with the risks involved and if necessary seek independent advice.

U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Trading financial instruments of any kind including options, futures and securities have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the options, futures and stock markets. Don't trade with money you can't afford to lose.

NFA and CTFC Required Disclaimers: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.

EARNINGS DISCLAIMER: EVERY EFFORT HAS BEEN MADE TO ACCURATELY REPRESENT THIS PRODUCT AND ITS POTENTIAL. THERE IS NO GUARANTEE THAT YOU WILL EARN ANY MONEY USING THE TECHNIQUES, IDEAS OR PRODUCTS PRESENTED ON OUR WEBSITE. EXAMPLES ON OUR WEBSITE ARE NOT TO BE INTERPRETED AS A PROMISE OR GUARANTEE OF EARNINGS.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAN ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.


All information on this website or any product purchased from this website is for educational and research purposes only and is not intended to provide financial advice. Any statement about profits or income, expressed or implied, does not represent a guarantee. This training website is neither a solicitation nor an offer to Buy/Sell options, futures or securities. No representation is being made that any information you receive will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Please use common sense. Get the advice of a competent financial advisor before investing your money in any financial instrument.

Terms of Use: Your use of this website indicates your acceptance of these disclaimers. In addition, you agree to hold harmless the publisher and instructors personally and collectively for any losses of capital, if any, that may result from the use of the information. In other words, you must make your own decisions, be responsible for your own decisions and trade at your own risk.

BUY THIS NOW!!!



Venusaur

  • Guest
interesting



fafuer

  • Guest
This will make me rich



Quân nhân dân

  • Guest

runfy

  • Guest
Great stuff.



 

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