5M trending system - 10-15 pips/day

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5M trending system - 10-15 pips/day

Postby bjn201 » Sat May 14, 2011 3:42 pm

Hello people I am relatively new to forex and was wondering if i could get some feedback/advice on this strategy.

My aim is for 10-15 pips per day, trading on the 5m chart, using a 1:1/1:1.5 risk reward (so SL 10/15 pips, TP 10/15)

Indicators used:

Heinken Ashi smoothed
ADX (14)
Stoch (5,3,3)

Buy trade

When price action is above the Heiken Ashi smoothed
there has been at least 2 bullish HA candles
and the ADX is above 20 and showing bullish trend
Also Stoch is heading up

Sell trade: the opposite.

This setup has show some good results on visual backtesting, but of course forwarding testing is needed - feed would still be appreciated though!

Another idea I had (i know that this is frowned upon) was to apply limited martingale if i lose... although this may not be a good idea!

Comments about the strategy would be great :)
bjn201
 
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Joined: Tue May 10, 2011 2:23 pm

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