dimanche 5 avril 2015
Weekly Average System
Posted on 01:21 by nice news
This journal is to test my Weekly Average System.
The system is based on the Weekly timeframe and matches currencies average strength against each other over a number of weeks. When a currency has exhausted its strength, I match it against a currency that has exhausted its weakness.
I make only one trade per week- (and I don't make a trade every week, only when currencies are exhausted according to my system)
I set the trade when market opens and leave it for the week.
Take profit is based on price reaching 70% of the weekly ATR (this may change depending on trading results). There is no Stop Loss at this point (this also may change depending on trading results). If price doesn't reach my TP I will close the trade at the end of the trading week with either a profit or loss.
The beauty of this system (if it works!!) is that it only takes about 20 minutes in the weekend when trading is closed, and a minute or so when market opens to place the trade. It is also a 100% mechanical system with no analysis or human input needed.
Demo Trade Explorer will be attached.
First trade is BUY GBPNZD (trade will be entered near market opening)
TP 2.00189 (if open price at market open gaps up or down, TP will be slightly altered)
Weekly Chart
The system is based on the Weekly timeframe and matches currencies average strength against each other over a number of weeks. When a currency has exhausted its strength, I match it against a currency that has exhausted its weakness.
I make only one trade per week- (and I don't make a trade every week, only when currencies are exhausted according to my system)
I set the trade when market opens and leave it for the week.
Take profit is based on price reaching 70% of the weekly ATR (this may change depending on trading results). There is no Stop Loss at this point (this also may change depending on trading results). If price doesn't reach my TP I will close the trade at the end of the trading week with either a profit or loss.
The beauty of this system (if it works!!) is that it only takes about 20 minutes in the weekend when trading is closed, and a minute or so when market opens to place the trade. It is also a 100% mechanical system with no analysis or human input needed.
Demo Trade Explorer will be attached.
First trade is BUY GBPNZD (trade will be entered near market opening)
TP 2.00189 (if open price at market open gaps up or down, TP will be slightly altered)
Weekly Chart
Weekly Average System
Categories: Weekly Average System
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