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    Trend Follower System

    Uploaded by

    Bbg Sky
    The trader uses a trendfollowing system to trade currency pairs on daily charts for 2-3 weeks at a time. They identify trends using Bollinger Bands and Starc Bands, allowing for retracements. They enter trades when these indicators show a breakout of the trend and exit using multiple strategies like the Bollinger Bands intersecting a horizontal line or the Stochastic RSI crossing. The trader aims for a high hit rate by only entering when all criteria are met and looks at many currency pairs to diversify risk.

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    Trend Follower System

    Uploaded by

    Bbg Sky
    52 views3 pages
    The trader uses a trendfollowing system to trade currency pairs on daily charts for 2-3 weeks at a time. They identify trends using Bollinger Bands and Starc Bands, allowing for retracements. They enter trades when these indicators show a breakout of the trend and exit using multiple strategies like the Bollinger Bands intersecting a horizontal line or the Stochastic RSI crossing. The trader aims for a high hit rate by only entering when all criteria are met and looks at many currency pairs to diversify risk.

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    The trader uses a trendfollowing system to trade currency pairs on daily charts for 2-3 weeks at a time. They identify trends using Bollinger Bands and Starc Bands, allowing for retracements. They enter trades when these indicators show a breakout of the trend and exit using multiple strategies like the Bollinger Bands intersecting a horizontal line or the Stochastic RSI crossing. The trader aims for a high hit rate by only entering when all criteria are met and looks at many currency pairs to diversify risk.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    52 views3 pages

    Trend Follower System

    Uploaded by

    Bbg Sky
    The trader uses a trendfollowing system to trade currency pairs on daily charts for 2-3 weeks at a time. They identify trends using Bollinger Bands and Starc Bands, allowing for retracements. They enter trades when these indicators show a breakout of the trend and exit using multiple strategies like the Bollinger Bands intersecting a horizontal line or the Stochastic RSI crossing. The trader aims for a high hit rate by only entering when all criteria are met and looks at many currency pairs to diversify risk.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    Trendfollower System (as posted by Trendfollower in the MoneyTec forum)

    I wait for a new trend to emerge & then take a position.


    I trade on the daily charts and sometimes stay in for 2-3 weeks depending how long the trend
    runs.
    I identify a new trend using a combination of Bollinger Bands & Starc Bands (Stoller rue
    !"erage#.
    !llowances for retracements are re$uired to stay in the trade. (healthy stop loss# I ha"e
    definite entry & e%it strategies. I ha"e been trading on this system for the last 3 years.
    &irstly I am always in with at least 3 currency pairs at any one time.
    !s I close positions' I may be opening new ones. Because of the long term nature of my
    trades pip spreads are not important to me so I look for new trend breaks amongst () odd
    currency pairs.
    I trade mini lots'so it is nothing to be in with multiple currency pairs. !lso good for risk
    management as you dont ha"e all your eggs in one basket.
    &alse signals about 3* -+*,.
    Because I look at so many currency pairs I can afford to be fussy so my hit rate is fairly high. I
    will only enter with the trend when all criteria is in place.
    he -SI & S./0!SI/S are 1ust nice to ha"es.
    2ormally my stop loss is around (3* pips but tighten it to take me out when ready to e%it. I
    use smaller time frames (3* mins# with the trend to find the entry to the market. he S4! &
    54! I only use !S .26 .& 06 I27I/!.-S when I want to e%it.
    I use the Bollinger8Starc breakaway to enter a trade.
    4y e%its are a little more complicated. I ha"e about 3 different methods for e%it. I normally
    take the first to appear or pull my stop up tight and let it run further if it wants to. he nice
    thing about trend trading' is that you don9t need to be at the computer all day long. 3 looks a
    day is enough.
    0ere is one of my e%it strategies. 5hen you enter a trade draw a yellow "ertical & hori:ontal
    line as per attachment. 5hen the Bollinger line comes round and intersects the hori:ontal
    line' e%it and take profit or wait until the S4! & 54! cross at the bottom. here is another
    scenario I will e%plain after this.
    Both my Bollinger intersect with the hori:ontal yellow line or the S4!854! cross will gi"e you
    appro% the same pip profit in this instance )** odd pips.
    0owe"er this is not a hard & fast rule. 0ere is my other e%it strategy which might occur (st.
    5hen the top Bollinger starts cur"ing downwards the run is probably starting to slow down'
    but not always. ;ess profit a"ailable but profit is profit if you dont feel comfortable trading
    longer.

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