The Simplest Forex Pips manual (Enjoy Free BONUS Cruscotto Indicator)
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As you can see, we have all the components of a good forex trading system.
First, we’ve decided that this is a swing trading system and that we will trade on a daily chart.
Next, we use simple moving averages to help us identify a new trend as early as possible.
The Stochastic help us determine if it’s still ok for us to enter a trade after a moving average crossover, and it also helps us avoid oversold and overbought areas.
The RSI is an extra confirmation tool that helps us determine the strength of our trend.
After figuring out our trade setup, we then determined our risk for each trade.
For this system, we are willing to risk 100 pips on each trade.
Usually, the higher the time frame, the more pips you should be willing to risk because your gains will typically be larger than if you were to trade on a smaller time frame.
Next, we clearly define our entry and exit rules.
BONUS:Cruscotto Trading Systems v1
Description
Cruscotto is the ultimate currency strength/weakness indicator. It monitors the status of the 8 major currencies, gold and oil in real time, using the data coming from 6 different time frames: from 15 minutes up to one month of data.
This will not only give you an overview of the currency situation, but also the details on its performance in the short term.
The strength/weakness score goes from -100 to 100 and is calculated using all the pairs in which the currency is involved. So for example, when you see a strong EUR and a weak USD, it means that the EUR is strong vs all the other currencies and vice versa for the USD. That makes a long trade on EURUSD much more likely to end profitably.
Analyzing the single currencies, Cruscotto will help you choose the best pairs to trade. Simply take the currency or currencies that are stronger and match with those that are weaker. You can easily view them as the strong ones have green histograms while the weak ones have red histograms.
Also, when the score is more or less of a limit (a sort of signal zone), the label of the period becomes green/red accordingly. This is the signal or at least the first half. Now to be sure, you need another pair that, in the same time frame, gives the opposite signal and you can enter a short/long trade on that pair.
Depending on the time frame, you'll have different targets ranging from a few pips to whatever works best on the time frame you are trading.
It can be that easy.
You can trade with the Cruscotto alone or (even better) integrate it into your trading system to help you in your trading decisions. The strength and weakness of two currencies can easily help you understand the trend of a pair.
From the long term to the short term, remember... the trend is your friend, and the best trends come when there's divergence between two currencies, when one is strong and the other is weak.
The Cruscotto algorithm works by analyzing price only. It doesn't use any other indicatorsalike moving averages, RSIs, etc. So, all the signals are real time and not lagging like other indicators.
You'll also see how currencies are correlated. You'll see what it means to have a strong Yen, a strong US Dollar or a strong Euro.
Having Gold and Oil in Cruscotto will also help those who are not trading them, as there are interesting intermarket correlations that will help you to sometimes "predict" the market.
Cruscotto is one indicator but it comes in three different layouts: Horizontal, Vertical and Squared to fit your setup and your screen resolution.
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The Simplest Forex Pips manual
Market Sales Price: $399,but we sell lot more lower than that to share the opportunity with you!
Serving Professional Traders Since 2008
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