Simple Trading System - No indicators!

[bossxero]

Here is a little trading system which I think is the easiest one I have ever found. It does not use any indicator at all and depends 100% on the price levels. Not need to make trading decisions as well. The ideal pair for this system is the trending pairs like EurUsd or GbpUsd and the ideal timeframe is H1 and above. The rules for this trading system are as follows:

1. Example EUR/USD 1.4350, i just take to be 14.35 so rounded to be 14 Pips.

2. For The Pending Order : 14 pips * 2 = 28 pips; so you will put the SELL STOP or BUY STOP 28 pips from 1.4350 = Sell Stop @ 1.4322 (1.4350 - 0.0028) & BUY STOPS @ 1.4378 (1.4350 + 0.0028).
DON'T FORGET to set the expiration for both of the pending orders at 60 Minutes (1 Hour) and as soon as one of the pending order gets triggered, you must hurry up to cancel the other pending order, examples : your BUY STOP has got triggered, DELETE the pending SELL STOP As Soon As Possible.

3. For Stop Loss : 14 pips * 2 = 28 pips from the Opening Bar.

4. For Take Profit ... Price was 1.4350; so we just take 143.5 and we round this value to 144 pips. This should be our takeprofit level.

5. Trailing Stop loss : 28 pips + (14pip/2) = 35 pips.

I hope that you will benefit from this trading system. Please share your experiences with it on this thread. Refer to the screenshot below for a better understanding on working with this trading method.

I have illustrated the method based upon the current price of the EurUsd on a H4 candle. I hope that you will enjoy this trading method

All the best

[TrendLineTrader]

Thanks for sharing this breakout strategy. You could make it stronger if instead of entering at breakout of discretionary levels, you identify a Support\Resistance, and enter at the pullback. I am currently researching such strategy and results appear to be promising.

[liebesweet]

How's the live performance ?

[chief2000]

Could you, please, provide any details about your "Pullback" method?

Originally Posted by TrendLineTrader

Thanks for sharing this breakout strategy. You could make it stronger if instead of entering at breakout of discretionary levels, you identify a Support\Resistance, and enter at the pullback. I am currently researching such strategy and results appear to be promising.

[pro_]

Think of it like this, when you get rid of your indicators, you are getting rid of the middle man. since most people use indicator as a way to tell them what is happening in the market, when you don't use them you have to rely on yourself.

[forex-trader]

Originally Posted by TrendLineTrader

Thanks for sharing this breakout strategy. You could make it stronger if instead of entering at breakout of discretionary levels, you identify a Support\Resistance, and enter at the pullback. I am currently researching such strategy and results appear to be promising.

Strategy does have merit; I use similar approach using Fibonacci projected confluence areas. Both methods work under the same principle.

Cheers,