Monday, August 18, 2008

ForexGen Trading Rules " Long Trades "

Rule 1
The 89’s and the 144’s on the 4 – hour chart and on the 30 – minute
chart must both be in buy mode. By buy mode I mean that at some point the 89’s have crossed over the 144’s.
Rule 2
The TI (trend indicator) must be in buy mode. The TI must just be changing from down to up or already be in buy mode.
Rule 3
Once these conditions have been met then we use the 30 – minute
chart for our entry, exit and target. The 5 - minute chart is used to onitor the position. It can also be used to enter the market once you gain more experience.
Rule 4
We only enter on a 38.2% retracement. You only place your stop loss under the 61.8% retracement and you only use the targets provided by he RPC.
Rule 5
You only select trades where the potential reward is at least twice the otential loss.

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