Thread: 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.

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.

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.

Updated Chart.

New Downbar formed so move stop of continuation trade 1 pip plus spread above high of downbar to reduce risk.

Stopped out of trade on continuation entry

Trades for the last few days.

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

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.