This month, three traders were brave enough to submit trading systems. All three are particularly unique in how they work. Make sure you read through each thread carefully before deciding which one to vote for!
This system belongs to travelkeon but was submitted by mynameisfez. The system includes less used indicators such as the Coral indicator and the CCI. As the name suggests, it aims to identify potential breakouts on the 5-minute mark and tries to catch decent sized moves.
Interestingly, travelkeon says that the system only generates reward-to-risk ratios of 1:1 and sometimes even less. However, the system apparently wins eight out of every 10 times. It will be interesting to put this to the test should the system emerge victorious.
One thing to note is that the system does not set any hard take profit targets and instead allows the position to be closed when a trailing stop is hit.
If you’re a fan of moving average crossover systems, then be sure to go through this thread!
What would happen if all we did was go long on a break of yesterday’s high and go short on a break of yesterday’s low and we held positions until the close of the day? Well, according to pipwoof’s stats, we would rack up truckloads of pips!
This is the main concept behind his Daybreak system. It’s unique in that it doesn’t use any indicators to determine breakouts. It uses the daily chart and has rules simple enough for any noob to follow. If you’re interested to learn more about it, just head on over to his forum thread!
So which system do you think is the Best Forex Trading System for the month of June?
And let’s not forget, the winning entry gives its creator the right to donate $50 to a charity of his choice, so choose wisely, humans!