A working mans position trading system

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A working mans position trading system

  1. 1. A Working Man’s Forex Position Trading System
  2. 2. Do look at major news events
  3. 3. 100 -150 pip stop 2-3% risk
  4. 4. When the blue Guppy EMA cross through the Reds, the trend is over
  5. 5. Notice how price bounces of the EMA levels. Between these levels is no mans land. Better to trade when price is moving away from the EMAs
  6. 6. Only use Stochastic in a trending market Don’t buy at the bottom of Stochastic dip, wait for GEMA to have good angle and separation
  7. 7. Can be used in all market types
  8. 8. Don’t short when SMI is at extreme -60 level
  9. 9. GEMA good angle and separation Price moving away from EMA’s Stochastic stays overbought SMI continues to show the up move
  10. 10. GEMA in the Red so market is range bound Fast GEMA out of the Red so market is trending Daily and weekly SMI trending up
  11. 11. Range breakout
  12. 12. Extreme SMI reading. Not the place to go long
  13. 13. Extreme SMI reading. Not the place to go long
  14. 14. RSI above 50 = uptrend
  15. 15. Above two are too slow. Use trailing stops
  16. 16. SMI turns red for 2-3 days… move stop closer SMI turned red… move stop under lows
  17. 17. Price moving away from EMA’s Weekly and daily SMI heading up Look at Red GMMA’s. Not great angle and separation but are moving up. 2. Look at Blue GMMA’s. Are showing good angle and separation. 3. Price moving away from EMA’s. Blues have penetrated the reds so we are in a non trending market. 4. In non trending market look at SMI Daily and weekly. Both are heading up. 5. Ignore Stochastic Indicator in non trending markets. 6. Look at weekly SMI – which is starting to turn up. Weekly SMI turning up
  18. 18. RSI above 50 7. Look at the confirming indicators – RSI above 50, MACD has good angle and separation. Everything on the daily chart is confirming the trade. In non trending market, good angle and separation on MACD
  19. 19. Some angle & separation on blues SMI starting to go up (Teal line is irrelevant and can come off)
  20. 20. Daily SMI turning Red for 2 bars. Move stop 100 pips under lows
  21. 21. Red GMMA’s. no angle or separation but are heading up. 2. Blue GMMA’s. Good angle and separation. 3. Price moving away from EMA’s. Blues have penetrated the reds so we are in a non trending market. 4. SMI Daily and weekly, both are heading up. 5. Ignore Stochastic Indicator in non trending markets.
  22. 22. 6. Confirming indicators – RSI above 50, MACD has good angle and separation. Everything on the daily chart is confirming the trade.
  23. 23. Trailing stop Trailing stop Stopped out
  24. 24. Red GMMA’s. good angle or separation. 2. Blue GMMA’s. Good angle and separation. 3. Price moving away from EMA’s. In a trending market. 4. SMI Daily and weekly, both are heading up. 5. Stochastic Indicator in blue and heading up.
  25. 25. 6. Confirming indicators – RSI above 50, MACD turning up. Everything on the daily chart is confirming the trade.
  26. 26. 1. Red GMMA’s. good angle or separation. 2. Blue GMMA’s. Good angle and separation. 3. Price moving away from EMA’s. In a trending market. 4. SMI weekly heading up. 6. MACD is bullish
  27. 27. Trailing stop Stopped out
  28. 28. 1. Red GMMA’s. angle or separation. 2. Blue GMMA’s. breaking into red. 3. Price moving toward EMA’s. Non trending market. 4. SMI Daily and weekly, both are heading down. 5. Stochastic Indicator in red and heading down. No trade!
  29. 29. Price bounces off 200 EMA
  30. 30. 1. Red GMMA’s. good angle or separation. 2. Blue GMMA’s. heading down. 3. Price moving away from EMA’s. In a trending market. 4. SMI heading down, weekly heading up. 5. Stochastic in the red and heading down
  31. 31. 6. Confirming indicators – RSI below 50, MACD turning down. No trade
  32. 32. 1. Red GMMA’s. good angle or separation. 2. Blue GMMA’s. heading down. 3. Price moving away from EMA’s. In a trending market. 4. SMI heading up. 5. Stochastic in the blue and heading up
  33. 33. Price moves moves up
  34. 34. 1. Red GMMA’s. good angle or separation. 2. Blue GMMA’s. good angle or separation. 3. Price moving away from EMA’s. In a trending market. 4. SMI & weekly (teal and black line) heading down. 5. Stochastic in the red and heading down
  35. 35. 6. Confirming indicators – RSI below 50, MACD turning down. Short trade signal
  36. 36. 1. Red GMMA’s. good angle or separation. 2. Blue GMMA’s. good angle or separation. 3. Price moving away from EMA’s. In a trending market. 4. SMI weekly heading down. 5. MACD heading down 6. RSI below 50
  37. 37. Trailing stop Trailing stop Trailing stop Trailing stop Stopped out

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