Manual Trading System
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Thread: Manual Trading System

  1. #1

    Default Manual Trading System

    Hi all,

    I've recently been trading this system and so far it is profitable.

    I'll attempt to describe it as best I can.

    1. Chart Set Up.

    GBPUSD Time Frame 15 Mins

    Indicators : SMA Period 21
    Bollinger Bands Standard Deviation Set at 1. Levels set at 0.75 and -0.75

    2. Entry Rule :

    SMA must be Pointing down for a short entry. Bollinger Bands must be Pointing down for a short entry.

    Set Up Candle must be a candle where the Open is in the Top 30% of the Candle and the Close is in the Bottom 30% of the Candle. This indicates a significant move down. The Candle must close outside of the bollinger bands. This candle is called a Down Bar Candle.

    Trade Entry is set at 1 Pip Plus Spread below the Low of the Set Up Candle.

    Exit is set at 2/3xATR at the time of the Trade. Initial Stop Loss is Set at 1xATR at the time of the Trade.

    That describes a Short Trade. The opposite is true for a Long Trade.

    This is a great system to trade the London Open.

    I will attach a chart.
    Attached Images Attached Images Manual Trading System-2-jpg 

  2. #2


    That is the basic set up to gain regular pips each day.

    Further to this we open a second positon at the time of the first position with the same stop loss value, however we don't have a Take Profit Target.

    We move the Stop of the Second Positon to be 1 Pip plus the Spread above the High of any new Down Bar.

    Keep doing this until we get stopped.
    Attached Images Attached Images Manual Trading System-3-jpg 

  3. #3


    Trend Continuation Entry Rule.

    When there is a pull back and an Up Bar appears we then put order to go short 1 Pip Plus Spread below low of Up Bar.

    Same initial stop loss and exit rules apply.

    Only one contract trade.
    Attached Images Attached Images Manual Trading System-4-jpg 

  4. #4


    Updated Chart.
    Attached Images Attached Images Manual Trading System-5-jpg 

  5. #5


    New Downbar formed so move stop of continuation trade 1 pip plus spread above high of downbar to reduce risk.
    Attached Images Attached Images Manual Trading System-6-jpg 

  6. #6


    Stopped out of trade on continuation entry
    Attached Images Attached Images Manual Trading System-7-jpg 

  7. #7


    Trades for the last few days.
    Attached Images Attached Images Manual Trading System-8-jpg 

  8. #8


    Did you try to code it into EA and test?
    you can probably improve it with 10 pip trail. Looks like a scalper strategy

    thanks for sharing

  9. #9


    The Foreign Exchange (Forex) market is the largest and most liquid financial market in the world. There are basically 2 methods to trade the forex market – manual trading and automated trading. There are many debates of which methods are superior. Despite of these debates, one fact remains – in the this huge market, at least 90% of new forex traders lose all their money, be it using manual forex trading or automated forex trading.

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Manual Trading System