50 SMA Strategy

Setup

Define a 50 simple moving average (sma) on your 10-minute or longer chart

Draw trend lines above and below the current move (but at least 10 candles - see Trends/Trendlines on main page)

Entry

Take the trade after the currency closes above or below both the 50 sma and a trend line:

Stops

Set stops behind the wave, tunnel or trend line, but at least the equivalent of 1-2 average candles for that chart -- whatever you're most comfortable with.
      Use the indicator ATR(100) to get a good average candle size.

Exit

Close on a full cross and close of the Fx lines (some traders take only a partial close at this point), a known reversal back to the 50 ma (such as an Elliott Wave correction - another partial close possibility), or a retouch of the 50 sma (full close).

Notes

This is not a substitute for good trading practices, such as:

This is what I understand at this moment. If you know how this strategy works better, please update this document then email it to me at the address on the main page. Thank you. -WebMaster