176# High Probability System
Submit By Joy22
Let me share with you a high probability system for trading forex. This is a system I use
successfully to make between 50-70 pips per trade.
Non lag Zig zag
Zig Zag Pointer
Stochastics (setting 14,3,3)
Daiy Average Range
Explanation Of the indicators
The zig zag indicator is used to ascertain tops and bottoms, highs and lows and possible
reversal turning points. It is also used to identify wave patterns and trends. Most people do not use it because of its lagging nature. However it is a very useful tool when
optimized with several settings to filter out the false highs and lows. We will be using this indicator to ascertain tops and bottoms in a very unique and different way.
Non lag Zgzag
The non lag ziigzag is simply a form of the normal zigzag with dfferent setting to filter out false highs and lows
Zig zag Pointer
The pointer is used to corroborate the nonlag zigzag and confirm entry points
Used to measure the overbought and oversold. We also use it to confirm the highs and lows identified by our zigzags.
Daily Average Range.
This visual indicator smply helps us to see the averange range we can expect the pair to move for the day so that we can know where to place our stops and targets.
We use this to mark support and resistance from our charts. We only place trades if price is around support and resistance
Ok here is our chart and the way we trade it.
We trade pairs wiith high volatility though the system works with every pair. Our pairs
Ok heres what we do. We are waiting for all the indicators to align themselves in the 4
1. We waiit untl our zigzag pointer appears below in the 30M TF.
2. We check the 1Hr Chart to see if there is agreement.
3. We also look at the 4HR TF to make sure they agree
4. The stoch must be in the oversold area in all TFs
5. We also look at the daily to see the nature of the trade
6. We check to see if we are around support/resistance
For High Probabiility Trades.
· 3 TFs agree...30M, 1HR, and 4HR...If they do we buy/sell and go for 50 pips and
set our stop loss 30pips
· Except GBP/JPY and GBP/CHF. Our TP 70 PIPS and SL 50 pips in both
For Extreme High Probabilty Trades
All four TFs 30M, 1HR, 4HR and Daily Agree
If they do we go for 100 pips and SL 85 pips
For Low Probability Trades...Trades With Higher Risk
Two TFs agree 30M, 1HR.
If they do we go for 30 pips profiit. SL 20Pips
All Opposite Long rules
I like the trades with Extreme High Probability Set Ups and High Probabilty. When they occur. I stake my money big time
Share your opinion, can help everyone to understand the forex strategy.