270# Trend Eater Trading System
Submit by Joy22
Components of the System
ProbMeter indicator
Pivot Multi Timeframe indicator : red for resistance and blue for support
ADX indicator : period 14
2. Entry Signal
Buy (Go Long) :
First, wait until ProbMeter says “Probability STRONG UP Trend
Once it is occured, you must check these conditions :
a. NO U.S. BIG NEWS today (Non Farm Payroll, FOMC Meeting, Bernanke’s testimony, etc).
NO EURO ZONE important news in the next ½ hours ahead, if you trade EUR/USD.
NO UK important news ½ hours in the next ½ hours ahead, if you trade GBP/USD.
B Range between the price (when an UP Trend Alert is occurred) must be at least 20 pips away from the NEXT Resistance.
c. ADX (when an UP Trend Alert is occurred) must rise BETWEEN 20 - 40 level.
After all conditions have been fullfilled, just click BUY for your chosen currency pair.
- Here is the COMPLETE chart for Buying Condition :
Sell: Viceversa
3. Stop Loss & Take Profit
For Buying Condition :
Set Stop Loss 30 pips (for EURUSD) from your Entry price.
Set Stop Loss 50 pips (for GBPUSD) from your Entry price.
Set Take Profit at 5 pips away from the nearest Resistance level.
Don’t use Trailing Stop to get the maximum gains.
Don’t update your Take Profit even the trading session day has changed.
For Selling Condition :
Set Stop Loss 30 pips (for EURUSD) from your Entry price.
Set Stop Loss 50 pips (for GBPUSD) from your Entry price.
Set Take Profit at 5 pips away from the nearest Support level.
Trend Eater Manual
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