Quote Originally Posted by Arbitrager on Acid View Post
You can trade trend following systems on weekly charts and make your updates one time per week in less than an hour profitably. Take the following system:

Enter positions on breaks of the four week price range away from the 200 day moving average with a stop loss just outside the opposite side of the range, as the opposite side of the range moves with your position groom your stop each week to stay just a pip outside the range until it is taken out for a profit or a loss. This is Richard Donchian's old four week system. Run that system on as many pairs as you can in order to make certain you will be in any pair that has a good trend. Risk a total of 12% of your trading capital on all pairs (if you are trading 50 pairs, risk 24 basis points per trade; 12%/50=0.0024%).

Systems like that make money and require just an hour a week and will not matter the time of day that you update your orders. The best time would be Sunday nights, if I am correct your local time is 11:00PM when the forex week begins on Sunday night. Once a week, you could update your orders before bed beginning at 11:00PM on Sunday nights

You can also trade other price ranges (10 weeks, 15 weeks, etc.). In fact it is a good idea to trade a few systems simultaneously in different accounts to make certain you catch the big moves and don't get chopped in sideways expansions and contractions of the price range.

And if you find yourself unable to take position sizes small enough to risk just .0024% per trade, get another dealer that allows smaller position sizes such as Oanda.

-Adrian
I have given this a go. Unfortunately the week is already halfway, and it has missed a few nice trades. I am battling a bit with understanding/setting up the MA. How many periods? How does it help filter?

Another question.. Is the sl placed just outside the range of the last candle/bar or outside a range of the imaginary 4 week candle?

Sorry, I tried finding the system on google, but it is not very detailed.

Thank you