Who’s online There forex systems based on daily time frame currently 11 users online. Submitted by Edward Revy on February 28, 2007 – 15:49.
Yes, one look – one hit. 1 second glance at the chart. It is a very simple Forex trading system that is a pleasure to use for traders with a busy schedule. Entry rules: Buy when 5 EMA crosses up and over 12 EMA and RSI is above 50. Sell when 5 EMA crosses down and below 12 EMA and RSI is below 50. Exit rules: exit when 5 and 12 EMA cross again or when RSI crosses back through 50. Since it is a daily system the logic behind it can be described as simply following the daily trend.
Because EMAs are lagging indicators they actually help us in this case. Submitted by User on June 18, 2007 – 13:21. Submitted by Edward Revy on June 18, 2007 – 13:47. Submitted by User on July 25, 2007 – 15:11. What is the suggested stop-loss for this strategy if we use it on a daily chart? Can we use a previous day’s range for example?
Submitted by Edward Revy on July 25, 2007 – 15:30. It is the most optimal way to determine a stop loss when trading daily charts. Submitted by User on August 23, 2007 – 14:33. When is the most active time to trade ? Submitted by Edward Revy on August 23, 2007 – 15:46. There isn’t any time suggestions for this Forex system as it is traded daily.
Thus, when a new daily candle appears on the chart, which is happen at midnight, the earlier you find out about an update the faster you can react on it. Submitted by User on November 13, 2007 – 06:58. What RSI-value do u suggest on 3 or 4 hour charts, 14 or 21? Submitted by Edward Revy on November 13, 2007 – 09:47. Also take a look at RSI 30. It shows less false crossing through 50 level.