System31339

[rsmereka]

This review is about the manual trading System31339 that I have modified from the original system posted here. I have no affiliation with anyone in conjunction with this review.

As the system name tells it, this manual system uses three simple moving averages (SMA). The fast moving average is 3 periods/bars, the medium moving average is 13 periods/bars and the slow moving average is 39 periods/bars.

So that I am not tied to my computer trading this manual system, I am using this system on daily charts (D1). I have loaded this system onto an Alpari UK demo account at 500:1 leverage . I will be trading this long-term manual system at 1% risk per trade.
Link: http://www.myfxbook.com/members/rsmereka/system31339/57207


This system is very close to a swing trading system although, as documented below, there are times when there will be no trade.

Here are the system trading rules:

If there is no current trade

-enter a buy trade when the 3 MA crosses above the 13 MA
-enter a sell trade when the 3 MA crosses below the 13 MA

If there is a trade

-exit a buy when the 3 MA crosses below the 13 MA (do not reverse in a strong trend )
-exit a sell when the 3 MA crosses above the 13 MA (do not reverse in a strong trend )
-exit and reverse when the 3 MA crosses the 13 MA and the 39 MA is flat or close to flat (ranging, little or no trend )

I loaded the 3 SMA 's onto the following daily charts:

EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY, AUDUSD, EURGBP, EURCHF, EURJPY, AUDNZD

If this manual system is profitable, I will code an EA from it.

Rick

[bayon]

hello rick

interesting project ..keep us updated as usual.

regards

[rsmereka]

Originally Posted by bayon

hello rick

interesting project ..keep us updated as usual.

regards

I definitely will keep everyone updated,

System31339 is very simple and easy to trade especially on daily charts. It's a good system for people that have careers and have to go to work every day.

I am checking this system once a day at the close of the candle.

Yesterday, there were two pairs that crossed and I placed trades on the USDCAD (buy) and EURCHF (sell) pairs. As of right now, the USDCAD trade has responded really well and is up almost 200 pips. The EURCHF trade was up a bit but is currently down almost 75 pips. I made the mistake on these two trades of using 2% risk instead of 1%.

Update

I just logged onto my VPS and realized that the EURCHF pair did not cross (I must have been hallucinating when I opened this trade). I immediately closed that trade for a $97 loss.

I have to be more careful about entering trades.

Rick

[rsmereka]

After manually trading this system for more than a month, I gave up on it. In a long-term trend , it's a great system. In chop, it's a lousy system. There is no way to tell whether the trade I enter is going to result in a long-term trend .

The account on MyFXBook has also been deleted.

Rick