Thinking to test this strategy but need reviews first
HI,
I just thought to share a simple strategy here and would like the reviews of pro traders that it would work fine or not. I have mixed few points from different systems posted here and it is not my trading system and is a general strategy which i am leaning towards to adopt.
Indicators:
ADX, 14 period.
MACD
parabolic sar.
Go Long:
When the macd crossover shows an uptrend which is fast ema crosses slower ema from downwards.
and
ADX is over 20 with DI+ over 20 and DI- less than 0r equal to 10
and
Parabolic SAR dots appear below the price indicating uptrend.
Go Short:
when macd crossover shows a downtrend that is fast ema crosses slower ema from upwards.
and
ADX is greater than 20 with DI- over 20 and DI+ less than 20
and
Parabolic SR dots appear above the price indicating a down trend.
PS:
has anyone used such technique successfully?
Any suggestions are welcome plus the suggested time frame etc.
regards
note: Sorry if some one ha already posted such thing but this is just my understanding.
Quote Originally Posted by ibrartariq View Post
HI,
I just thought to share a simple strategy here and would like the reviews of pro traders that it would work fine or not. I have mixed few points from different systems posted here and it is not my trading system and is a general strategy which i am leaning towards to adopt.
Indicators:
ADX, 14 period.
MACD
parabolic sar.
Go Long:
When the macd crossover shows an uptrend which is fast ema crosses slower ema from downwards.
and
ADX is over 20 with DI+ over 20 and DI- less than 0r equal to 10
and
Parabolic SAR dots appear below the price indicating uptrend.
Go Short:
when macd crossover shows a downtrend that is fast ema crosses slower ema from upwards.
and
ADX is greater than 20 with DI- over 20 and DI+ less than 20
and
Parabolic SR dots appear above the price indicating a down trend.
PS:
has anyone used such technique successfully?
Any suggestions are welcome plus the suggested time frame etc.
regards
note: Sorry if some one ha already posted such thing but this is just my understanding.
Just my opinion but indicators are perhaps not the way to go as they more often than not bite you in the bum,try instead price action with support and resistance and save yourself a lot of agrivation,but as I said just my opinion good luck anyway.
Hi Ibrartariq
I like your strategy, don't be put off using indicators just because some traders stick to price action. I use indicators always and consider myself a successful (profitable) trader. Master 3 to 5 systems and keep some others under your belt for different market conditions and different time frames. Always remember time frame is the key to using some indicators! What time frame are you suggesting for your strategy?
Good luck, James
Quote Originally Posted by ibrartariq View Post
HI,
I just thought to share a simple strategy here and would like the reviews of pro traders that it would work fine or not. I have mixed few points from different systems posted here and it is not my trading system and is a general strategy which i am leaning towards to adopt.
Indicators:
ADX, 14 period.
MACD
parabolic sar.
Go Long:
When the macd crossover shows an uptrend which is fast ema crosses slower ema from downwards.
and
ADX is over 20 with DI+ over 20 and DI- less than 0r equal to 10
and
Parabolic SAR dots appear below the price indicating uptrend.
Go Short:
when macd crossover shows a downtrend that is fast ema crosses slower ema from upwards.
and
ADX is greater than 20 with DI- over 20 and DI+ less than 20
and
Parabolic SR dots appear above the price indicating a down trend.
PS:
has anyone used such technique successfully?
Any suggestions are welcome plus the suggested time frame etc.
regards
note: Sorry if some one ha already posted such thing but this is just my understanding.