420# 100 Pips A Day Forex Domination System
Trend Following Strategy
100 pips a day
Written by Forexreadingapprentice.com
INDICATORS AND TEMPLATE
100 Pips Forex Domination uses 4 different indicators
1. 100 Pips Momentum
2. 100 Pips Power
3. 100 Pips Trend
4. ATR(21)
Time Frame
Use the 100 Pips trading system only on 4‐H our Daily timeframe.
ENTRY RULES
* BUY Rules
Open a LONG position when all these conditions are satisfied:
‐ The Blue Line cuts above the Red Line of the 100pips Momentum Indicator.
‐ 100pips Power Indicator is BLUE.
‐ 100pips 3 shows both UP arrows (BLUE colour).
* SELL Rules
Open a SHORT position when all these conditions are satisfied:
‐ The Blue Line cuts below the Red Line of the 100pips Momentum Indicator.
‐ 100pips Power Indicator is RED.
‐ 100pips Trend shows both DOWN arrows (RED colour).
STOP LOSS
The stoploss value will be derived from the ATR(21) indicator. Stoploss = 0.85 x ATR.
EXIT
There are two ways to exit your trade
‐ Use take profit level equals or 2 times of stoploss level.
‐ Exit when there are at 3 (three) indicators showing a reversal signal.
In the pictures 100 Pips A Day Forex Domination forex system in action.
As we can see from the screenshot above:
The 100pips Momentum indicator BLUE line cut below the RED line and at the same time, 100pips Power and 100pips Direction indicator all show a DOWN signal.
We had all the setup conditions for a SHORT entry.
So on the next candle, we entered a SHORT position (at 1.461).
Stop Loss
The value of ATR 21 at that time was 0.0099.
Our stoploss would be 99 * 0.85 ~ 84 pips above the entry point. So the stoploss was set at 1.4845.
Take Profit
We used the 1:2 risk to reward ratio.
Our take profit will be 2 x stoploss = 168 pips below the entry point. So the Take profit was set at 1.4593.
Result
The trade went up strongly in our favour direction and hit the profit target. The trade was closed with 110 pips profit.
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