This Blog is basically created for Forex Traders to share their ideas, to help others and to get help from others.
About me:-
I trade Forex without using Indicators following Price Action. I got the basic from my own wife, then studied some ebooks and sites and practiced few brokers.I will start teaching from 1st Of August 2012 Insha Allah for free.U can add me in FB also. My Facebook ID is KhanFX.My.اُردو یا پشتو کے لیے ایڈمِن سے رابطہ کریں فیس بُک کے ذریعے یا بلاگ میں کمِنٹ کے ذریعے۔
Best Entry Signal Indicator is really best. It can provide you a couple of true entry signals. CURRENCY PAIR:- Almost all currency pairs. TIME FRAME:- It works in any time frame, recommended for 15, 30 and 60 Min
Time frames. HOW TO ENTER? BUY SIGNAL:- When you get BUY Signal, wait for the candle to really start going up and then put Buy order. Do not trade against the trend. SELL SIGNAL:- Same as Buy.. When you get SELL Signal, wait for the candle to really start going Down
and then put Sell order. Do not trade against the trend.
Rubicon Indicator is based on price movement.It can be used on all time frames although it performs very well on 30 min charts.The indicator marks the trade entry as a green ( yellow in Modified ) line on the chart then prints stop loss and take profit on the chart. You can see in chart below:
Usually
You can expect: +70% of profitable trades.
Pairs: GBP/JPY or USD/JPY or other JPY cross pairs (GBP/JPY mainly)
Charts: 1Min, 5Min
Indicators: bollinger bands – 3 sets
Deviation
2 (Red) – Period 50
Deviation
3 (Pink) – Period 50
Deviation 4 (yellow) –
Period 50
Target: 5-10 pips
How to
Install?
Download Tpl file 1 minute scalping strategy to your computer. Copy that file. Go to your Metatrader folder where it
is installed, Paste in Templates. Not in expert/templates.
How to apply
to your 1 minute chart?
Right click on your
metatrader screen( on chart), list will appear. Go to templates just below
periodicity, another list will appear. Select and click on 1 minute scalping
strategy.
Notice:- The 3 sets of bollinger bands on your chart
will appear. The
price
will always move between these lines – Red, Pink
and Yellow.
Where to Enter?
SELL: Watch when the price crosses the
upper
red band , at least half way (or touch) to the pink band
(if it
gets to the yellow band is much stronger signal..) Then
the
price will tend to retrace towards the center of the
bollinger bands, you profit
from this retracing.
BUY: It is the same as selling, the difference
is that
we will wait for the price to range between the lower
red and
yellow bands, and trade the retracing towards the
center.
Note for This system: Do not trade
on ranging, do not trade on
the
news releases.
Where to put Stop Loss?
since
this strategy requires you to look at the
screen
(remember this is the 1M time frame) I tend to have
two
kinds of stops: time based and loss based.
Time based: Try and figure out how
long will it take the
market
to get in your expected direction, if the time that you
planned
is already due, then close the order. No point on
waiting
for a loss...
Stop Loss: Since you are trading a
very tight time frame your
stops
should also very very tight. Sometimes, you will profit
from a
3 minute trade and you wont be able to set a proper
S/L. So
your stops will be given to you by your money
Some instructions about the recent changes in strategy.
========================================
I have added one more indicator which will alert U but U have to follow only when there is retracement from red or pink or yellow band not middle yellow band. If U see a retracement from these bands towards middle yellow band, just make entry even if U don't have any alert. Alert is just to inform U only.
In previous strategy, sometimes we could have this confusion that the price already reached to red or pink or even yellow band but still there was no retracement. Anyways, for that we suppose not to trade in ranging market or news release etc but still we need to know whether there is retracement or not. So for that the indicator I added will alert U or if it doesn't alert U then it will atleast change its colour and show the direction. U can see in new image I added. Its very clear. Blue colour is for up move and red colour is for down move.
Hope U understand. In case of any confusion just leave a comment please. I will try to reply. Regards KhanFX ===========================================
The best broker I ever used.. Exness.. Open account in Exness by clicking on the icon of Exness at right side or at the bottom of this blog.
If any question you can ask. I used many brokers but I found this one the best. I am not simply saying to open account. If you don't believe, then just try demo first and try to differentiate the prices in this broker with others. If you have any problem, U can join me in my Group. http://www.facebook.com/groups/KhanFX/
