Forex Trend Following Strategies: How To Make Big Gains With Low Risk Currency Trading by Thomas Carter

Author:Thomas Carter [Carter, Thomas]
Language: eng
Format: epub
Published: 2014-11-21T18:30:00+00:00

Look for a move above the previous day's high by at least 15 pips.

Place an entry order to sell 15 pips below the previous day's low.

Once filled, place the initial stop no more than 30 pips above your entry.

Take profit on the position when it runs 60 pips in your favor.

Trend Following Strategy # 12

Time Frame:

15 min

Pairs:

Major currency pairs.

Indicators:

SMA 7 (Black)

SMA 21 (Blue)

SMA 84 (Red)

SMA 336 (Yellow)

CCI (5)

Buy Trades:

The following condition need to be met on the 15 min charts to enter a buy trade. If any one of the conditions has not been met, there is simply no trade.

SMA 7 needs to cross above SMA 21 indicating a change in the trend. It is important to wait until the end of the 15 min candle forming the cross to confirm that a moving average cross has in fact occurred.

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