Winner: 2012-02-28 | 22:41:33
* dzzzzzzzm… dzzzzzzzm…*
After battling it out for more than a week, one victor emerged as a clear winner for February’s Best Forex Trading System Contest. I now present to you paulaelli’s
If you haven’t read her post, paulaelli emphasized that her entry is a non-labor intensive system designed to catch medium-term trends. It uses the daily time frame for direction, while using the 1h time frame to enter and exit trades. This is probably why the system usually gives one signal every one to two weeks.
The system utilizes two exponential moving averages: the 5 EMA and 34 EMA. It also incorporates the Relative Strength Index (RSI), Stochastic, and MACD. I assume that these indicators are in place to help confirm the strength of the trend.
One thing that I like that immediately sticks out like a sore button is that it is very human-friendly. Even an oldie like Pip Diddy can understand the system without a hitch. Still, I will tinker with the system for a bit and post my thoughts and potential mechanization changes that it must go through before I begin backtesting.
I’ve decided to create some images with the two EMAs to help you decipher paulaelli’s system.
Congratulate you, I must, paulaelli!
Not only will your system be featured on the homepage for the ENTIRE month of March, but your name will now be etched in the Best Forex Trading System Hall of Fame for eternity!
Alright, that’s it for me today, humanoids. I’ll be back later this week to officially open the Forex Trading System contest for March.
Till we meet again my human followers!
Voting: 2012-02-26 | 20:09:33
*beep boop kzzzrt!*
A few weeks ago, I sent out my distress signals into the depths of space. This morning, I checked my receivers to see if I got a response and I was delighted to find that three brave earthlings have answered my call!
Take a look at the three trading systems vying for the title of February’s Best Forex Trading System:
34 EMA Crossover by paulaelli
Philosophy: A non-labor-intensive system made to catch medium-term trend movements.
Indicators: The 5 and 34 EMAs serve as primary indicators, while RSI, Stochastic, and MACD (all default settings) are used for additional confirmation.
Timeframe and currency pairs: Best used on the 1-hour and daily timeframes and can be used on different pairs.
How does it work? If the EMA (5) is above the EMA (34) on the daily chart, only seek LONG trades. Conversely, when the EMA (5) is below the EMA (34) on the daily chart, we should only be on the lookout for SHORT trades. We then zoom in to the 1-hour chart, where we wait for a crossover of the 5 and 34 EMAs and enter an order to buy/sell 20 pips past the close of the crossover candle. Read more…
The Pairaballz System by PIPnRUN
Philosophy: This system is designed to capitalize on major reversals that manifest on the 4-hour chart.
How does it work? Go long when Parabolic SAR generates a buy signal and a candlestick fully opens and closes above the SMA (14). Go short when Parabolic SAR generates a sell signal and a candlestick fully opens and closes below the SMA (14). Read more…
Red Light Green Light by vincejg327
Indicators: EMA (9), ADX (14), ATR (14).
Timeframe and currency pairs: Vincejg327 used the 15-minute chart of EUR/USD but he says it can be applicable to whatever timeframe of the currency of your choice.
How does it work? Signals are generated whenever price crosses the EMA (9) and the ADX is there to confirm the trend. Meanwhile, the ATR is primarily used to determine where trades should be exited. Read more…
I know, I know. With these three amazing systems, it’s difficult to decide which one should be dubbed as February’s Best Forex Trading System. But perhaps asking yourself this question before you cast your vote would help you make the decision: “Which system do I want to be backtested?”
Once voting closes next Wednesday (February 29, 2012 at 12:00 am EST), I, Robopip, will keep my promise and backtest the winning system to the best of my abilities. So vote wisely my human friends!