Forex Multi Stochastic Trading System

The system is traded from the 30 min before Frankfurt Open to 2 hours after London Opened.It works the best on opens as that is the highest probability for a move to happen in either direction.Consolidation is this system’s weak point and we must accept it and learn when it is the best to trade.It can work at anytime as long as you realize that you cant just take every color change of the matrix in slower periods.

We trade either EUR / JPY or GBP / USD
It doesnt really matter which you trade most of the time but there are times when one is clearly not moving well and then you have the other.I personally trade as my bread and butter the G/U and most of the time its decent.To be able to change there must be a real sign of one pair being better and they are in my opinion equal.

The Entry requirements

1 – Matrix Changes color and the bar closes.This will be the signal candle (the indicator doesn’t repaint )
2 – Price improves by at least 1 pip of the Signal candle
3 – If you use the Stochastic then at least one needs to be in your direction.

Now you have a signal.If you choose to use it is up to you.There is no magic answer for when to take it and when not.Know how price works and seeing the price action unfold everyday will help you will make better decisions the more experience you get with this system.

IF – You decide to trade Stoploss goes above the swing high or low but its really up to you how you want to do it.Your trading the system and have to take responsibility for how many pips you risk etc.

The patterns repeat themselves day in and day out.Not changing what you are looking at the whole time will train your eye.A weak craftsmen blames his tools.

Exits

Exits are the most important thing in trading as that is where you as a trader decide if the opportunity is still present.Exits helps use lock in profits and reduce risk by moving Stoplosses and many other things.Nothing complicated just the basics

I divide my trade into 2 equal parts in order to have 2 exits.I might half the second take profit again on the second half of the trade if I think price will continue and I want to stay in the move and want to take some profits.

Other traders split the size into 3 equal parts from the start and then trade accordingly.I cant speak for them so send them a PM or ask them.

My TP1 = + 3 or greater or if I decide to make it smaller because PA is not looking good its up to me.
My TP2 = + 6 or greater but I will always try and get the best price for it.This is the money maker.I have a small profit in the bank from TP1 so let TP2 ride.

Strada approach which I will hopefully learn in time is as follows :

TP 1 = +6 or bigger
TP 2 = +12 or bigger or if there is reversal signal

Like I said exits are what make a trader a trader and the better you get the more confidence you will have in your decisions to leave the trade open or close it.

Open trades are closed if a signal happens in the other direction and you believe there is enough cause to close or even revers your order.

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