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Forex Day Trading System - PBT + Currency Matrix

riffster21

Member
Staff member
In this video, I explain one of my favorite ways to find trades and it works regardless of market conditions. It can even be used around news releases as long as there aren't any massive price spikes (use with caution around news, but it does work). I've only had a few (less than 5%) losers in 2020 so far. The system is very accurate.

TradeVision2020 apps needed:

Currency Matrix Dashboard - PBT Data
Scalping Matrix Dashboard - Day Trader Data
ATR Matrix - 30M & 60M Data

Rules for the system:

1. Wait for both the PBT and one side of the corresponding currency pairs (base or quote) to reach +/- 9.9 on the Currency Matrix. Example: EURUSD - PBT = -9.9 and EUR = -9.9 or PBT = -9.9 and USD = +9.9, etc... To enter your trade, both the PBT and Currency Matrix need to reach +/- 9.9 at the same time. DO NOT ENTER EARLY.
2. WARNING: If both sides (both the base and quote) of a currency pair reach +/- 9.0, do NOT take the trade. We only want one side overextended.
3. Using a risk calculator, figure out the size of your lot. I suggest never risking more than 2% of your equity. Your stop is = to the 30M ATR for the pair you are trading. Set your lot size and prepare to enter your trade. For more on using a risk calculator, read the bottom of the page here: https://tradevision2020.com/010-matrix-trade-signals/
4. When rule #1 is met, enter your trade in the opposite direction of the PBT data. Example: EURUSD - if PBT = -9.9, you would enter a buy/long trade, if PBT = +9.9, you would enter a sell/short trade.
5. Place your Stop and Limit orders. Stop = 30M ATR for the pair in pips. Limit = 60M ATR for the pair in pips.

This system provides roughly a 2:1 risk/reward and you should average about 85% winners at first and you'll get to better than 95% winners after your timing improves a bit. I love this system.

Please practice on a demo or micro account first. Have fun and happy trading!

 

chip15

Member
1. Do you let the trade run as "set and forget" or you manage the trade?
2. Do you push the stop after some pips to breakeven?
3. How many pips can I expect from these trades?
4. How many trades can I expect per week?
5. Is it possible to make a living only using this system?
 

riffster21

Member
Staff member
1. Do you let the trade run as "set and forget" or you manage the trade?
2. Do you push the stop after some pips to breakeven?
3. How many pips can I expect from these trades?
4. How many trades can I expect per week?
5. Is it possible to make a living only using this system?
1. No, I don't like "set and forget" trading. See #2 and I will close before a major news release.
2. I push the stop to BE after +10 pips.
3. It's based on the ATR, so it's different for each pair, but 20-30 pips.
4. Each week is different and the trades usually come in waves. I've gone more than 10 days without a trade and had 40 trades in 2 days.
5. Yes, I do. I use this system and the GTV system that I posted to find all of my trades.
 

chip15

Member
Ok, I will do my best. I want to help you to grow. I already was a member of 4xlounge and 4xEdge.

I took today 4 trades at about 2:40 PM EST using the Forex Day Trading System.
AUDUSD and AUDJPY resulted breakeven; NZDJPY about 6 pips, NZDUSD about 9 pips.
I exited the two winning trades when PBT Data reversed to zero. I'm trying to figure out how long I can let these trades running.
My feeling is that when I close the trades at zero (PBT Data) that this is too early and I miss some pips.
Yesterday I closed to trades at the level -/+ 2 (PBT Data) and these trades gave me about 10-12 pips.
Should I try to let the trades run till -/+ 9 (PBT Data) in the opposite of the trade (like the Mouse do do with his Trend Scalping Setup)?
And move after 5-10 pips to breakeven.
Perhaps you can give me a hint when to exit.
 
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