Wave Rider Forex Trading Strategy For MT4
The Wave Rider Forex Trading Strategy For MT4 is the MA concept based trend trading method. Those who are tired of setting up a different period of the MA must use this strategy since the ex4 files for this system organize the different MA settings to ensure the maximum profit potentials at trading.
The used EMAs for this trading strategy are 8, 21, 50, 100, & 200 EMA. If the sequence of the EMA from the lower order to higher order, we can assume the trend is up. On the contrary, when the sequence of the EMA is in descending order, it means the trend is down. During the change in the sequence, we spot the bullish and bearish cross over in the EMA. This cross over should be considered as a trend reversal signal. But in this strategy, we will use these 5 powerful EMA to trade with the key trend.
100 and 200 EMA are the trend confirmation EMA.8, 21 and 50 is the pivot tool. This means the price will bounce off this level when the trend is up. If you spot the rejection in the 8 or 21 EMA executes the long trade with a stop below the rejection of the candle. If no rejection is spotted, you set a pending buy limit at the 21 EMA. SL and TP for such trade are 15 pips. The same technique can be used when the trend is bearish. But make sure you use the 100 and 200 EMA to filter out the major trend.
At times the market will not respect 8.21 and 50 EMA. This is where you can go for the big trades. 100 and 200 EMA acts as excellent support and resistance level. Set the pending orders at that level depending on the nature of the trend. The stops for the pending orders will be 25 pips and the take profit will 75 pips at least. Though the strategy is a very powerful ay to trade with the trend, you should not risk more than 2% in any trade.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
