Hi friends
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I mostly trade Only bitcoin with this trading strategy, because Bitcoin has high volatility than other coins and if you want you can also use this system on ETH too.
Guidelines,Rules and Indicators for this strategy:-> This strategy is a simple and trend following system that any newbie can apply it, but before that believe in this system .Don't blindly start trading this strategy, First Practise it completely and then trade with it. You can use it for trading products like stocks,commodities also other than BTC and ETH. You can use this system for day trading,short term trading,positional or investment also.The stop loss,Target and exits can be adjusted according to one needs and mindset, but entry point cannot be changed. Note that this system will give you trade entries only if there is a strong trend otherwise not, by this way you are already cutting down bad trades.
INDICATORS USED: Candlestick chart , 5 SMA (simple moving average on closing basis), 13 SMA (simple moving average on high basis),13 SMA ( simple moving average on low basis)
Buy Signal Entry: Buy above the candle high(Entry candle) on which the 5 SMA( closing basis) crosses the 13 SMA( high basis),
with stop loss on the price of 13 SMA (low basis) target will be atleast double of our risk.
Sell Signal Entry : Sell below the candle Low(Entry candle) on which the 5 SMA (closing Basis) crosses the 13 SMA ( low basis),
with stop loss on the price on 13 SMA (high basis) and target will be double of our risk.
i will post the charts links below, that will explain you the system in pictorial representations.
Buying example:
http://prntscr.com/go1ydushort sell example:
http://prntscr.com/go1uf7Just practise and see the power of this simple trading system. This is my first topic which i have posted here, if for any reasons this topic doesn't Fits here, then remove and paste it where it really suits it.