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 ShortGreen 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.

Forex Trading System
Trend Pipper.zip
Compressed Archive in ZIP Format 103.7 KB
TrendPipper
Trading System
TrendPipper.zip
Compressed Archive in ZIP Format 61.1 KB

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