Pallada 3 4 Trading System For MT4
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Pallada 3 4 Trading System For MT4 mostly relies on the Pallada indicator. This strategy is mostly designed to take the trades in the lower time frame. So, novice traders are requested to use this system to trade the major pairs as price movements are relatively stable compared to exotic currency pairs. However, you may still trade the cross pairs once become comfortable in trading the major instruments.
The Pallada 3 4 Trading System For MT4
In The Pallada 3 4 Trading System For MT4, we will be using some essential indicators. These are -
- Pallada Bars (Blue= Bullish, Red= Bearish)
- Pallada Main Signals
- Pallada Volatility
- Pallada Assistance
- Pallada Pairs Strength
- Pallada Sessions Movement
- Pallada pairs Strength
After installing the necessary indicator, the chart should look like this:
This strategy focuses on Pallada SE Entry and Pallada Session Movement with the Dot and Pallada Bars. To execute the trade, we should check the data in a sequential manner.
How to Setup The Pallada 3 4 Trading Indicators
- Open the major currency pairs chart.
- Install the necessary indicators.
- View chart bars and then set it to horizontal view.
Bullish Trading Strategy
For novice trader, the inventor sugggests looking for the trade signals on the major forex pairs only. Instead of analyzing the data in the M1 or M5 chart, you may use the M15 or M30 chart to ease the process of trading. If possible, use price action as a confirmation of signals while taking the trades in major support and resistance level.
Bullish Trading Conditions
- The price should be above the Pallada Main Signal Average, and a bullish dot should appear below the price.
- The candlestick should change from red to blue, giving an indication of bullish reversal.
- Pallada SE Entry indicator should turn blue.
- Pallada Session Movement indicator should turn blue.
Entry
After checking the necessary condition, you may take the long trade with a low risk per trade.
Stop Loss
To determine the SL price, you should analyze the nearest support level. If you intend to trade in a conservative fashion, you may place SL below the most recent swing low.
Take Profit
The Take Profit should be set the nearest resistance level.
Example of the Bullish Trend
- We can see the price turned red to blue from the key swing in the image above. And the blue dots were below the price.
- Pallada SE Entry and Pallada Session Movement indicator also turned blue as marked in the image.
- Later on, the price failed to make a new high at the near-term resistance level.
Bearish Trading Strategy
Bearish Trading Conditions
- The price should be below the Pallada Main Signal Average, and a bearish dot should appear above the price.
- The candlestick should changes from blue to red, suggesting an imminent drop in the price.
- Pallada SE Entry should turn red.
- Pallada Session Movement should turn red.
Entry
Once you have checked the above conditions, you may take the short trade with low risk.
Stop Loss
To determine the SL price, you should analyze the nearest resistance level. If you intend to trade in a conservative fashion, you may place SL below the most recent swing high.
Take Profit
The Take Profit should be set to the nearest support level.
Example of the Bearish Trend
- We can see the price turned blue to red from the swing level in the image above. And the dots were also above the price.
- Pallada SE Entry and Pallada Session Movement indicator turned red as marked in the image.
- Later on, the trade was closed after spotting the bullish dot below the price.
Summary:
The Pallada 3 4 Trading System For MT4 is not like your regular trading strategy as we are using some exotic free indicators. In general, the rookie traders are familiar with the default indicators available in the MT4 platform. Since we have to deal with some new indicators, we suggest the novice traders learn the use of this strategy in a paper trading account.
Note that, the nature of the Forex market is very volatile and no one can say that a certain system will generate 100% profitable trade signals. So, while using this trading strategy, it is better to trade with less than 2% risk as it will help us to withstand the losing trades. And we should maintain a minimum 1:2 risk to reward ratio while taking the trades based on this strategy.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
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