Double CCI & ASCTrend Strategy for Forex Trading
This is an extremely profitable Forex trading method. Before delving deeper into further details, you must remember some vital rules to ensure a smooth flawless trading. Irrespective of your chosen currency pair & strategy, these rules are the golden rules to keep in mind for profit. The trading method that we will discuss here follows these rules too.
- Never go for high leverage. Both money & risk management make up a crucial aspect of any trading, including Forex. There will be times when you will see a major currency pair rallying or diving to 50+ pips in a flip second. If the trader is on a wrong part of the market in such situations, his account can get wiped out in no time. High leverage equates to high risk which eventually impact a trader’s temperament. This way you will be influenced to either to close trade or take less profit. It may bring immense profit, early & take loss.
- Never trade against trend. Understand this basic thing: Trend is your best friend always. Thus, you will have to follow its direction.
- Stick to the system. Adhere to the particular trading method. Never make predictions. Rather trust charts & price action. Traders lose when they don’t follow rules. Regardless of your chosen indicator, system or style, you are guaranteed to lose out on your trading account if you violate rules.
I will use MetaTrader to explain the strategy here since it’s the most popular program for trading today. The indicators noted here work on the MT4 platform. A trader will need to copy the indicators to respective “indicators” folder & he will do the same with template files.
For example, Indicators may go to “D:program filesmt4expertsindicators” folder while templates may go to “D:program filesmt4templates”.
After you have copied the needed Double CCI & ASCTrend Fx strategy files as well as run the MT4, you will have to open up a currency pair. It could be anything, ranging from GBP/USD to EUR/USD. Now, you will set time frame of chart to around 15M and then simply apply template. You will find a chart such as this:
Don’t get confused by this chart. You will be glad to know this system here is actually easy.
Buy & sell rules of the strategy
When to Buy (long)
Buy when Sema signal or green circle as well as ASC signal yellow arrow comes forth.
When to Sell (short)
Sell when Sema signal or red circle as well as ASC signal or pink arrow comes forth.
S/L & T/P:
On the 15M charts, a trader can set his T/P & S/L to around 25 pips.
This is another chart to help you with better understanding:
Check marked regions 1-3-5: You see Sema signal in green circle first as well as 2 bars later. If you can see the ASC signal with yellow arrow, you will go long.
Check marked regions 2-4: You see Sema signal in red circle first as well as 2 bars later. If you can see the ASC signal with pink arrow, you will go short.
Download Include:
- CCI89
- CCI270
- WSS.ex4
- semaasc-system.tpl
- #4X 2010 SEMA4X.ex4
- ASCTrend1sig
- CCI_Bars_M#_v2.ex4
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Related Article: Step MACD Forex Strategy
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