I use only one chart to enter, manage and exit the trade. You’ll learn more about how I use these indicators later on. As long as you can how to measure momentum in forex the difference between the colours, yellow and blue, you won’t have a problem trading it.
You could say that my system is a swing trading method, but I also use it to scalp for some pips when the requirements are met. Basically, with this system, you can enter a trade when a trend is just beginning, re-enter another trade when the trend continues, enter counter-trend trades, and trade in conjunction with Divergence. I usually aim for 10 to 40 pips depending on the type of entry technique I use. I have a full time job and I run my notebook when I am at the office, so that I can take a peek every now and then to see if the requirements for a trade are met. I can then enter the trade or place pending orders. Monitoring trades is not much of a problem because I trade the 1 Hour and the 4 Hour timeframes to suit my schedule.
With this document and with the help of my friends at Surefire Trading Challenge, I would like to share with you the information necessary for you to trade with the Effortless Abundance Forex System. How did you come up with the system you have traded during the competition? I can’t really remember how I started with this system. I was trying several methods and learning from trading forums. After a lot of research, I picked the best systems. I learned from them and modified some of them until I came up with this system.
Is the trading system you are using unique? It is the outcome of some modifications I made with a combination of MACD settings. Does your system use any custom indicators? None, I don’t use any custom indicators. Which currency pairs do you trade with this system? I usually trade on GBPUSD, EURUSD, EURJPY, GBPJPY and Gold. Does your system use multiple timeframe?
If yes, what were the timeframe that your system uses? I usually work on the 1H chart, which suits my trading style during my daily routine. Sometimes, I trade on the 4H chart too, that’s usually if I am too busy at my daily job. This system should work fine in any timeframe, especially with higher timeframes. During what hours are you actively trading this system? It works in all time zones.
I usually trade with it during the Asian session, the London session and sometimes, the early hours of the New York session. Usually, I trade during my working hours, which are during the Asian and early during the London session. Do you follow a set number of rules on each and every trade or does it vary? Yes, I make sure to follow trading rules so that I will have a higher probability of success. Are there exceptions to your trading system rules?
There’s no exception to the rules. How would you describe your trading system in just a few sentences? It is simple, easy to follow and uses a clean chart to trade, and as long as you have the correct MACD settings, you just need to recognize the colour of MACD indicators and spot the crosses. Do you enter trades using market orders or pending orders? If I miss the earlier setup but the signal is still valid, I will enter at the market price. Otherwise, I will place pending orders. If you use a pending order, how long do you wait before you cancel the order?