135# Trend Pipper Trading System
Submit by JanusTrader
Time Frame 5min
Pairs: AUD/USD, GBP/USD, EUR/USD
Indicators:
20EMA;
Three NonLagMA indicators in separate window, set to 15, 30 and 50;
THV4 TZ Pivots;
THV4 Info panel.
RULES
Trading times: late Asian, London
session, New York session.
SIGNAL (tells us
direction bias)
1. NonLags all same
colour (Red
Short, Green Long)
Risky to enter on the signal, price has often moved away from 20 EMA and we get stopped out on on the retrace.
ENTRY
2. Wait for price to return to EMA and close in direction of
trade below EMA for
Short and above EMA for Long
I prefer correct colour candle for the direction also also.
If we wait for the reverse to EMA, we can have smaller stop loss, higher probability, and less false entries.
3. Check NonLag's still right colour for the direction of the trade.
If they are not this is indication price trend may not be following through on signal. Sometimes just waiting for 1 or 2 candles we get
confirmation.
4. Try not to enter if
price too close to a Pivot point
eg if we want to go long and price is 4 pips under daily pivot not a good entry point.
EXITS
1. PIVOT POINT - take profit at the pivot point you are trading towards.
Price gets magnetised to these points,
(these can be Daily PP, R1,2,3, S1,2,3, Mid points, Open, yesterdays High, or Low) ALL these points tend to be either stop and reverse, stop and consolidate, or slow, reverse, or continue). Either way can be
good exit point as price is often indecisive at these points.
If candles are strongly going towards the pivot point, or if NonLag's all stay right colour consistently, consider holding to see if price goes to next pivot point especially if its a mid pivot
point.
2. SIGNAL OTHER WAY (3 NonLags opposite colour to
trade)
Consider exiting also if 2 of the 3
NonLag's are wrong color.
Using this exit usually gets us out of a bad trade for either a couple of pips, break even or a few pips loss.
Rarely should we watch it go to SL as there will usually have been an indication by the NonLag's that price was reversing. It is better to get out with a few pips loss and perhaps re-enter
later.
STOP LOSS
Approx 10 - 15 pips, use your own judgement some pairs may need 15 others may need only 10. If we get the entry right, price often moves quickly in our direction so stop loss not an issue. But if
you try to trade in low volatility or ranging times you may find stops being tested more often.
If we wait for the EMA retrace to enter, stops are hardly ever looked at, exits will then tend to be for a few pips or break even at worst if the trade doesn't follow through.
TAKE
PROFIT
2 or 3 pips from the pivot you are trading towards.
If price misses by 5 pips or more it usually comes back for another go.
Alternate methods, take 50% at pivot, move to break even and let rest ride to next pivot.
Share your opinion, can help everyone to understand the forex strategy.
