FREE DOWNLOAD “FSP Short Trend Forex Trading System & Strategy” – A short-term currency trader typically aims for small to moderate gains but initiates a large number of trades over a specified period.
Many short term traders feel that they can take better advantage of their “Edge” by relying on the large sample size that can be produced by frequent trading.
The more trades that the short-term Forex trader implements, the closer he can get to his perceived “Edge” over time.
- Time Frame: M5 or higher
- Currency Pairs: Any
- FSP Short Trend
- EMA Crossover Signal
- Dots Color
- Wildan Trend System
- Forex Trend
Short term is a relative term. Short term for a position trader could mean weeks. In contrast, short term to a scalper could mean less than a few minutes.
The idea behind this technical approach is to look for important “FSP Short Trend” levels on the chart and to trade a breakout from the levels.
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- Use a demo account or a small live account first to practice this trading system
If the price action breaks a support level downwards, you should open a short trade. If the price breaks a resistance level upwards, then you should engage in the market with a long trade.
- Download TraderVersity.Com-FSPShortTrendSystem (Zip File)
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators /
- Copy the “TraderVersity.Com-FSPShortTrendSystem.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex system
- Right-click on your trading chart and hover on “Template”
- Move right to select TraderVersity.Com-FSPShortTrendSystem
- You will see “FSP Short Trend Trading System” is available on your Chart
- FSP Short Trend: Blue line
- EMA Crossover Signal: Blue “UP” arrow
- Dots Color: Blue dots
- Wildan Trend System: Blue hidtogram
- Kubi: Upward and above level 60
- Forex Trend: Blue histogram
- FSP Short Trend: Red line
- EMA Crossover Signal: Red “DOWN” arrow
- Dots Color: Red dots
- Wildan Trend System: Red histogram
- Kubi: Downward and below level 40
- Forex Trend: Red histogram
The risk management rules for this trading strategy are very easy and straight-forward. Simply put a stop-loss order beyond the level, which you are trading.
- If you trade long after a resistance breakout, you should place a stop order below the Dots Color indicator.
- If you are trading short after a support breakout, you should put a stop above the Dots Color indicator.
- Use Dots Color indicator for trailing stop.