People are always telling tales of secret forex income strategies
and how they have the winning formula, however they seldom deliver the
goods. What I am going to disclose to you in this article is a formula
that I know the professionals don't want you to know and many have been
trying to keep under wraps. It is more of a long term trading strategy
with expectations of 500+ pips hence its name system 500.
This so called secret forex income formula requires a degree of knowledge for you to understand its method. Some experience with charts and EMA's is required, the rest you can pick up in the following paragraphs. You are required to set your charts to a 4 hour time frame and have a duplicate chart of a daily time frame.
On the chart this secret forex income formula requires these settings; Bollinger bands set to MA nbr periods 20, and standard deviation 2, for top middle and bottom bands. You should set 4 Exponential MA's on each chart, 1 set to nbr 2 no shift, colour this one blue. The next should be set to nbr 6 and coloured black. The next should be set to nbr 12 and coloured green, finally 1 set for nbr 34 and coloured red.
When the candles have pierced the bollanger bands, either top or bottom, we are looking for the trade to reverse. We now use the EMA's to confirm the change of direction once the black crosses the blue and that both cross the green on the 4 hour chart we can start looking for previous price action. Once pervious price action is suppressed, look on the daily chart to see if the EMA's have started to cross, If so enter the trade on a new high on the 4 hour chart with a 60-100 pip stop loss.
In this secret forex formula the trade should now of crossed the red EMA and heading in the right direction adjust your stop loss so that eventually you are using the red EMA as a stop on the 4 hour chart and then as it progresses look to use the red EMA on the daily chart. Your exit strategy should be for the EMA's to cross back over the red EMA on the 4 hour chart. Good Luck with this monster when it works you will be looking at 500+ pip trades.
This so called secret forex income formula requires a degree of knowledge for you to understand its method. Some experience with charts and EMA's is required, the rest you can pick up in the following paragraphs. You are required to set your charts to a 4 hour time frame and have a duplicate chart of a daily time frame.
On the chart this secret forex income formula requires these settings; Bollinger bands set to MA nbr periods 20, and standard deviation 2, for top middle and bottom bands. You should set 4 Exponential MA's on each chart, 1 set to nbr 2 no shift, colour this one blue. The next should be set to nbr 6 and coloured black. The next should be set to nbr 12 and coloured green, finally 1 set for nbr 34 and coloured red.
When the candles have pierced the bollanger bands, either top or bottom, we are looking for the trade to reverse. We now use the EMA's to confirm the change of direction once the black crosses the blue and that both cross the green on the 4 hour chart we can start looking for previous price action. Once pervious price action is suppressed, look on the daily chart to see if the EMA's have started to cross, If so enter the trade on a new high on the 4 hour chart with a 60-100 pip stop loss.
In this secret forex formula the trade should now of crossed the red EMA and heading in the right direction adjust your stop loss so that eventually you are using the red EMA as a stop on the 4 hour chart and then as it progresses look to use the red EMA on the daily chart. Your exit strategy should be for the EMA's to cross back over the red EMA on the 4 hour chart. Good Luck with this monster when it works you will be looking at 500+ pip trades.
Adam has been trading forex for 5 years and until recently with little success. Adam recently joined Colin Atkin's private members club
and has since seen his profit margin quadruple in the past two years.
Colin is a professional trader who shares his trading live, over a
webinar three times a day 5 days a week, all you have do is copy what he
does and take the profits. Since Adam joined Colin he has had the money
to invest in other projects and gone on to be a successful full time
forex trader and internet marketer.
Article Source:
http://EzineArticles.com/?expert=Adam_Woods
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