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Chin-Star trending system




Hello Traders,
I am posting my personal trading system here. You will need my 2 custom made indicators for Metatrader. It is trend following system you need lot of patience and some expertise in fibs,support, resistance in order to exit trade. It is still in developing state. All suggestions are welcome.

Rules:
IMP: USE ONLY 15 MIN TIMEFRAME
1. Buy Alert = Any of the 2 indicator goes positive and hit define level (+1500 for GJ and EJ, +15 for GU and EU).
2. Actual Buy = The second indicator goes above the define level (+1500 for GJ and EJ, +15 for GU and EU).
3. Sell Alert = Any of the 2 indicator goes negative and hit define level (-1500 for GJ and EJ, -15 for GU and EU).
4. Actual Sell = The second indicator goes below the define level (-1500 for GJ and EJ, -15 for GU and EU).
5. Stop Loss for Buy = Any of the indicator moves below -1500 (for GJ and EJ) or -15 (For GU and EU).
6. Stop Loss for Sell = Any of the indicator moves above +1500(for GJ and EJ) or +15 (For GU and EU).
7. Exit = This is where you need some expertise, you have to close partial lots at each fib level, nearest support and resistance and let the other lot ride.

I trade only GU,EU,GJ and EU. This is a trend following system if you see certain pair is range bound for few days just switch to other currency pair. Use your own method for money management. Always remember to close partial lots and book some profit as you follow the trend.
Feel free to ask any question.
Good luck to all.

ALERT EA's: chinstar-alert-EU-GU-Ver1.ex4 and chinstar-alert-EJ-GJ-Ver1.ex4 are Alert EA's for this system. Attach it to appropriate chart. It will generate an alert when trade is comingup, trade confirmation, it will also send mail and draw an arrow. PLEASE NOTE ALERTS ARE GENERATED IN REAL TIME, DONT JUST TAKE TRADE AS SOON AS ALERT COMES, SEE THE CHART AND TRADE ONLY AFTER U SEE CLEAR CONFIRMATION. If Signal comes in off peak time then wait for candle to close and see if indicator is still above or below the defined level.

IMP:
1. Avoid signals coming on late Friday say after 9AM EST.
2. If signals is generated late afternoon in any session dont risk much, trade with small lot.
3. Do not take signals before any major news.
4. Strictly follow the stop loss rule.
5. Book small profits as you ride the trend.

PLEASE NOTE YOU NEED MT4 BUILD 392 or HIGHER TO USE THIS INDICATOR.

forexfactory
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