I willl show you next profitable trading method called Double CCI and ASCTrend Forex Strategy. Before I go in details there are some important rules that you should always remember. No matter what you are trading, what your strategy is, you have to follow these rules in order to make profit. In this trading method we will stick to the rules as well.
- 1. Do not use high leverage. Risk and money management are important part of trading. There are times it takes less than a minute for a currency pair to rally or dive 50+ pips. If you are on the wrong side of the market at that moment, it could wipe your account. Since high leverage brings high risks, such trades affect your emotions and therefore either you profit less or you close trades, which could bring lots of profit, early and take the loss.
- 2. Do not trade against the trend. Trend is always our best friend and we will be following its direction.
- 3. Follow the system. Stick to the trading method, do not make predictions, trust the charts and price action. People lose because they do not follow the rules. Whatever system, indicator, style you are using, if you break the rules and trade randomly I guarantee that you will lose your account.
Since MetaTrader is the most common program I am going to explain this system on this platform. The indicators provided here work on MetaTrader 4 platform. You have to copy indicators to “indicators” folder and template files to “templates” folder. For example:
Indicators go to “C:\program files\mt4\experts\indicators” folder and templates go to “C:\program files\mt4\templates”.
After you copy the necessary Double CCI and ASCTrend Forex Strategy files and run MetaTrader 4, open EUR/USD, GBP/USD or any other major pair that you want to trade. Set chart time frame to 15M and apply the template. You will see a chart like this:
Double CCI and ASCTrend Forex Strategy buy and sell rules
Buy (long) when
Sema signal (green circle) and ASC signal (yellow arrow) appear.
Sell (short) when
Sema signal (red circle) and ASC signal (pink arrow) appear.
S/L and T/P:
Since we are on 15M charts, you can set your T/P and S/L to 25 pips.
I will show you another chart so that you can understand how it works:
Look at the marked areas 2-4: First we get sema signal (red circle) and a couple of bars later, we get ASC signal (pink arrow)l and we go short.
- #4X 2010 SEMA4X.ex4