This week, we turn the spotlight to the submissions to the Best Forex Trading System for the month of June. So far, we have five contenders vying for the top spot. Is the Holy Grail system among them?
1. PMS System by mynameisfez
BabyPips.com forum user mynameisfez shares her unique system which is part discretionary and part mechanical. But what’s with the name? Well, it ain’t named after that certain time of month that ladies go through, that’s for sure! She actually named her system after the three indicators it uses – Parabolic SAR, MACD, and Stochastic.
mynameisfez claims that since it’s half-discretionary and half-mechanical, her system suits those that like to conduct their own technical analysis but need help pulling the trigger. According to her, it works well with several pairs, and since it’s based on the 30-minute chart, there’s always plenty of action! To learn more about it, check out the PMS System thread in the forums.
2. Big E Trading by johnnykanoo
Due to popular demand, FX-Men honorary member johnnykanoo submitted the Big E Trading system to the contest and gave a very detailed rundown of how it works. It uses Heiken Ashi candles, TDI, and Stochastic, and works well with eight different currency pairs.
So far, it has earned quite a following in the BabyPips.com forums. Dyekid217 describes it as “AMAZING!!” while ghepburn says he’s “impressed with the results” after demo trading the system. Find out what all the fuss is about in the Big E Trading system thread!
3. The Huck Loves Her Bucks (HLHB) System by Huck
Our very own Hucklekiwi Pip threw her HLHB System in the mix last week. For those of you who aren’t already familiar with her system, it uses moving averages and Stochastic to catch and milk trends.
Since it’s based on the 4-hour chart of EUR/USD, it might be right up your alley if you’re the type who doesn’t have all day to stare at charts. Got questions or suggestions? Drop Huck a line in the Huck Loves Her Bucks System thread.
4. Riding the Trend After Retracement by Raajaa
Raajaa‘s Riding the Trend After Retracement system is a trend-following, long-term system. It utilizes a 200 smooth moving average and the ZigZag indicator (which is available on MT4). The 200 SMA is used to determine the long term trend while the ZigZag indicator helps determine whether a retracement is done or not.
The beauty of the system is that it follows the long-term trend and as Raajaa points out, chances are that you’ll be on the same side as the big players!
5. Bollinger Extreme System by monstapips
As hinted in the name, the Bollinger Extreme System uses Bollinger Bands to help determine extreme price levels. monstapips‘ system uses two Bollinger Bands and the ATR indicator to help determine stops.
Because it is based on a daily chart, the system only provides a signal every so often. But when it does, you may just be entering at a top or a bottom and getting in on the new trend early!
So there you have it folks! Five systems, one of which may just be the Holy Grail! If you have any questions or suggestions for improvement, I encourage you to give a shout out to our participants. We’re all here to learn from each other, and you may be able to provide valuable insight to help a fellow trader out.
If you want to submit your own system, then you’ll be glad to hear that you have until the end of next week to throw yours into the mix! If you believe you have the best out there, or if you simply wanna share your pip-producing system, then submit and let’s see what the rest of the BabyPips.com community thinks!