I have learned a lot about trading -- both systems and psychology -- from the forums on Forex Factory. I came to this site when I had already been trading for a while and was able to find lots and lots of gems that I could incorporate into my own approach.
I believe in the adage that "the trend is your friend", and I also know from experience that it is impossible to pick precise bottoms and tops (there were times when I got lucky). So more than "buy low, sell high" I subscribe to "buy strength, sell weakness". For that I look for a trending currency pair to then jump into the trend when its strength increases, and get out to the sidelines when it weakens -- a very classical multi-timeframe ("MTF") approach as I understand it.
To keep things simple I prefer using the same indicators on the trend and entry timeframes. I do, however, experiment with different settings of the respective indicators, because I want the trend timeframe slow and stable to avoid whipsaw, the entry/exit timeframe fast and nimble to give me lots of trading opportunities.
Through posts and private message exchanges I have tried to give back and help others with their questions and learning process, just as I have been helped before. Now it is time to post a description of my own trading system, in the hope to get feedback and ideas for improvement for myself, and that it helps other new and experienced traders with their own approach. This is an ongoing learning process for me, too. Writing things down in the attached PDF document was a good experience already. Things can always be improved, so I am excited to see what kind of feedback this generates.
I had meant to reserve the next post for indicators and a description of the system, plus screenshots etc., and to edit that post when updates become available, to make it always contain the latest version of everything.
Same with post #4 for screenshots of my current setup, and post #3 for older indicators and document versions which have been retired but could still be useful. Post #3 may not be complete at all times.
But... I just found out that posts can only be edited for a certain period of time before they turn "solid". The first post, apparently, stays editable, but I am not sure about this now.
As long as I can edit this first post, I will put relevant attachments in here, maybe in a ZIP archive if they exceed the maximum number of seven. I can (as of Mar-1) no longer access posts 2 through 4 for editing.
To pre-empt the inevitable request
, I am not going to post my templates, only screenshots for reference and custom indicators. If you like what you see, please build you own template. It will help to become familiar with the indicators and their settings and make sure that you can make the system your own. It also leaves freedom to modify elements that do not fit your own style.
I invite discussion of live trades, on the other hand I am not going to post my own account statements or comment on how the system has performed for me (it is good enough to post it here
). My own performance is no reflection on how the system would perform for anybody else. Being momentum-based, there are no clear alerts or trading signals, performance depends on the sessions and pairs traded, and the timeframe chosen. So I will limit my own input to cover pair selection, general experience with timeframe and sessions and so on. I want to share ideas, not do the trading for somebody and then have to feel bad for the inevitable losses that will be incurred from time to time.
This being said, I trade this live (not demo), full-time for a living.
Good trading, everyone!
Jesper
***************************************************
Attachments:
I believe in the adage that "the trend is your friend", and I also know from experience that it is impossible to pick precise bottoms and tops (there were times when I got lucky). So more than "buy low, sell high" I subscribe to "buy strength, sell weakness". For that I look for a trending currency pair to then jump into the trend when its strength increases, and get out to the sidelines when it weakens -- a very classical multi-timeframe ("MTF") approach as I understand it.
To keep things simple I prefer using the same indicators on the trend and entry timeframes. I do, however, experiment with different settings of the respective indicators, because I want the trend timeframe slow and stable to avoid whipsaw, the entry/exit timeframe fast and nimble to give me lots of trading opportunities.
Through posts and private message exchanges I have tried to give back and help others with their questions and learning process, just as I have been helped before. Now it is time to post a description of my own trading system, in the hope to get feedback and ideas for improvement for myself, and that it helps other new and experienced traders with their own approach. This is an ongoing learning process for me, too. Writing things down in the attached PDF document was a good experience already. Things can always be improved, so I am excited to see what kind of feedback this generates.
I had meant to reserve the next post for indicators and a description of the system, plus screenshots etc., and to edit that post when updates become available, to make it always contain the latest version of everything.
Same with post #4 for screenshots of my current setup, and post #3 for older indicators and document versions which have been retired but could still be useful. Post #3 may not be complete at all times.
But... I just found out that posts can only be edited for a certain period of time before they turn "solid". The first post, apparently, stays editable, but I am not sure about this now.
As long as I can edit this first post, I will put relevant attachments in here, maybe in a ZIP archive if they exceed the maximum number of seven. I can (as of Mar-1) no longer access posts 2 through 4 for editing.
To pre-empt the inevitable request
, I am not going to post my templates, only screenshots for reference and custom indicators. If you like what you see, please build you own template. It will help to become familiar with the indicators and their settings and make sure that you can make the system your own. It also leaves freedom to modify elements that do not fit your own style.I invite discussion of live trades, on the other hand I am not going to post my own account statements or comment on how the system has performed for me (it is good enough to post it here
). My own performance is no reflection on how the system would perform for anybody else. Being momentum-based, there are no clear alerts or trading signals, performance depends on the sessions and pairs traded, and the timeframe chosen. So I will limit my own input to cover pair selection, general experience with timeframe and sessions and so on. I want to share ideas, not do the trading for somebody and then have to feel bad for the inevitable losses that will be incurred from time to time.This being said, I trade this live (not demo), full-time for a living.
Good trading, everyone!
Jesper
***************************************************
Attachments:
- currently none, refer to posts #2 through #4.
Highlighted posts recommended for reading:
- posts #14 and #15; selecting pairs for trading: http://www.ojas-gujarat-gov-in.com/showpost...8&postcount=14
- post #22; by-the-book live trade example posted by HammerNail: http://www.ojas-gujarat-gov-in.com/showpost...5&postcount=22
So let's hope that many more a coming to form a good group. Please never hold back with feedback, questions and suggestions just because you might think you are still learning. Any input will help the group deepen our understanding and to become better at trading. 
