There’s no need to take me to your leader because I want to hear what YOU have to say! This month, we have two trading systems going head to head for the title of April’s Best Forex Trading System. Which do you think deserves to win?
You’ve got a tough choice ahead of you because these two systems share a few similarities. They are both swing trading systems that use moving averages (MAs) and risk 2% per trade. Make sure you take a good look at them before you cast your votes!
According to the system’s creator, froggy51, the philosophy behind the SHI Channel Strategy is that currency pairs have a tendency to range and/or trade within channels.
The goal of the SHI Channel Strategy, therefore, is to determine the current range and overall direction of the market, using moving averages and a custom trend channel indicator, which froggy51 kindly provides us with.
Using multiple time frame analysis, the SHI Channel Strategy gives traders a chance to jump on trends. And it can be very rewarding at times because of the system’s use of a fixed 100-pip stop loss and a flexible profit target!
Some forum users claim to be trading the system with great success. If you’d like to learn more about it, just check it froggy51’s thread.
The other contender for the crown is the Trend Runner system by forum member ilzalama. This mechanical trading system is designed to catch mid-term swings in the direction of the overall trend, as it makes use of the 200 SMA and a couple of custom indicators.
In his forum thread, he talks about a unique risk management system, which aims to lock in at least 10% of profits from any move. Now that’s got my alloy processors tingling with excitement!
He recommends that this trading system be applied to the 4-hour time frame and claims that it can be used on all forex pairs, as well as any market!
There you have it, ladies and gents! A pretty interesting match up, if I may say so myself!
Don’t forget that you have until midnight of May 7, 2013 to cast your votes for the Best Forex Trading System of the Month. The winner gets to have his name up on the Hall of Fame of Past Winners, as well as a shiny badge for his system on the homepage of BabyPips.com for an entire month.
On top of that, he will get to donate $50 to his charity of choice from our Golden List of Charities. Last but not least, the winning system will be backtested by yours truly based on my framework for mechanical systems.
Voting starts now!