Ty Young's Favorite
Forex Day Trading System
The forex day trading system shown below is Ty Young's system that he used to win in the
Surefire Trading Challenge.
It's interesting to note that this system uses about a handful of indicators to enter a position. It is very similar to Peter Bain's system, that he teaches at
www.forexmentor.com.
(Peter's system consists of a trendline break, MACD divergence, following the trend along with a candle reversal).
As seen from the chart below, Ty Young's forex day trading system comprises as follows;
The System
55 & 34 exponential moving averages
Bollinger band ; 20 and standard deviation of 2.
MACD histogram
CCI ; 50 with + & - 100, 200, 300.
Stochastics 8,3,3
How it works
We will consider a position for a long entry. So reverse the rules below for short positions.
The system works on ANY time-frame. Select one that suits your trading personality. ie Short term if you like to scalp the markets and long term if you only want limited participation.
Watch for ALL the triggers to trigger before placing a position. If you are an aggressive trader you can enter the position soon after the trend line break. Otherwise wait until where entry is shown on the chart below.
1.MACD histogram shows divergence to price action. Notice how price is moving downwards yet the MACD histogram signals divergence. (See how line below is drawn between MACD histogram peaks forming a upward slopping line).
2.MACD has changed from negative to positive. (MACD is green and above center line).
3.CCI rises above +100 and stays there.
4.Price breaks above downward trendline.
5. Bollinger bands are now moving upwards instead of downwards.
6.Price touches or comes close to lower bollinger band.
7.The moving averages start coming closer to one another. Note that they don't have to cross.
8.Notice rising lower bottoms for price.
9.Enter long position where shown on chart.
This system video explaining all the details is available for surefiretrading members. It is Live Webinar Series # 48. I have done my best to explain this system from watching that video. It should also be noted that Ty also trades this system using 55, 13 & 8 EMA's.
If you would like to be fully understand ALL the in's and out's of this system and be taught how to trade it properly, you are encouraged to sign up for the monthly tutoring membership at
www.surefiretradingchallenge.com.
To explore more free trading systems go here.
Return home from forex day trading system
[About Us][Contact Us][Privacy Policy][Disclaimer][Search & Site Map][Blog][Transparency][About You][Newsletter][Live Results] [Reviews][Questions & Answers][Articles][Join Us][Free Systems][Winning Systems][Affiliates]
New! Comments
Have your say about what you just read! Leave me a comment in the box below.
|
