After weeks of waiting, we have TWO trader souls who were bold enough to put up their trading systems for this month’s Best Forex Trading System contest. Coincidentally, both systems make use of the Ichimoku Kinko Hyo indicator.
So without further ado, I give to you our two trading systems for April!
As the 3rd installment of his 3-part Ichimoku series, digitalgypsy brings to us his Next Stop (Trading Method) system! This time around digitalgypsy makes use of Kijun-sen, Tenkan-sen, RSI, and trend lines to determine a trade.
Like other trend-catching systems, he also uses the daily time frame for direction, 4-hour chart for support and resistance levels, and the 1-hour chart for entry and exit signals. Think it’s too complicated? Don’t worry! Ask all the questions you want right on his thread!
The second system up for voting is called “Ichimoku in New Style” by TOTHENEWWORLD. As the name suggests, it uses the Ichimoku charting method applied to the 1-hour chart. It also uses four simple moving averages: 14, 21, 100, and 200.
According to TOTHENEWWORLD, the concept is simple. All you have to do is to wait for a crossover and take a directional position when a fresh candle forms outside the cloud.
We’ve got a nice little head-to-head going on here. There can only be one winner though, so pick wisely! Cast your vote before Tuesday (May 1, 2012) to make it count!
Remember, the winning system will not only be backtested (if mechanizable, of course) by yours truly, but its creator will also be crowned as this month’s Best Forex Trading System of the Month. It’ll also have a badge for all the readers of BabyPips.com to see!
Another great thing about the winning is that BabyPips.com will donate $50 to the charity of the system creator’s choice! You can find out more about this in Forex Ninja’s “You Trade, We Aid” post!
So there you have it, Earth beings. Which of these systems is your best bet as April’s Best Forex Trading System?