A nice system I have been trading for 3 months.. gained me 50% on account so far :-)
It is based mainly on price movement, and the fact that prices like to retrace to trending moving average and bounce from it, creating strong movements.
Last 2 Weeks Results
GBPUSD: +212 pips
EURUSD: +712 pips
This system works on any charts; I prefer using it on 4H and 1H charts.
Be sure to backtest it before you try it on any other time frame.
Entry is made after price bounces from Bollinger's Moving Average, when the Moving Average is trending (pointing up or down).
After price has bounced from MA (Created a bullish candle for long trades or bearish for short), place stop order 1 pip above the candle (for long) or below the candle (for short). Watch examples for clarifications.
Stop Loss is 1 pip below low of the previous bar (for long trades), and 1 pip above high of previous bar + spread (for short trades).
This is what this system is all about.
Stop Loss is trailed to 1 pip below lowest low of last 4 bars (for long trades) and to 1 pip above highest high of last 4 bars (for short trades). Exits are done only by the trailing stop.
I risk 2% of starting equity on each trade.
That's about it. Example for trades can be found at my blog, I also post weekly results there. Good trading everyone and lots of pips!
BTW = I couldn't build an EA for this system.. There was a problem in identifying bounces in which price didn't touch the MA. If someone could build EA for this it would be very nice!