A good forex strategy has to be simple and not confusing with so many indicator. As long as protective stop always used on every position and we keep discipline to stick on the system, I am sure your will end up in profit. Here I want to share another simple system that can be used for everyone. This system uses FXSniper Ergodic CCI indicator only. We don't have to know the trend using another indicator such as MACD, Moving Averages or predict how the price will move etc.
How this system works:
OK since there is no such indicator that works 100 percent, you must keep in mind that some times, your stop loss will be hit and this does not mean this system does not work. The basic system of this open the trade when the FXSniper Ergodic CCI cross over.
SELL rule:
As you see on the picture above, we go short/sell when the blue line cross over the red line from above. Always put your stop above the previous high or previous candle (add 2 or 3 pips above it to avoid pip hunter on some naughty broker). As this is scalping system, exit when the blue and red lines closing in. Or, you can set your target for example 10-20 pips depends on the pair you trade and the market movement.
BUY rule:
Buy when blue line cross over the red line from the bottom. And you must put your stop loss below the previous low.
I know that in some condition it does not works as we want. For example, blue line cross the red line from the bottom and gives buy signal but suddenly it flip back and the price continue to go further down. Don't worry, that's why we put stop loss on every order. You won't loss much (pips) and we can open another position on the next signal.
This system is good but needs a discipline. Without discipline (to put stop loss) you won't be able to get money with any Forex system. Throw away any hope mode!!.
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