98# AFX Trader Trading System
Submit by JanusTrader (Afxtrader.com)
AFX system is the system I create using 2 different systems. It’s combination of ATM system (electrolegal.com) and MP2009 ( FXMalay.com thread ). Basically, they are both scalping system.
Here are the set-up of my chart that I used for entry purpose. It’s consist of 3
chart, M2, M5 and M15. It is the combinations of ATM system with the MP2009. The MP2009 is a system thats was develop by a team of Malaysians guy. This is the final stage after it went through a
few stages of development.
The system was so brilliant. I’m using it to identify the market directions, then
find the precise entry using the ATM system. In the ATM system also I did a minor tweak to suit my needs.
I like to trade 4 pairs which is EU, GU, EJ and the violant GJ. This is the
screenshot of my main chart. It’s all sets to M30 timeframes. This is all I need to trade forex …. nothing else. .
After a long study and testing using this system and ATM, the results are amazing. I’m a fulltime trader thats trade forex for a living. By using this set-up, it’s very easy for me to trade the right way follow the directions of the market. Changing of trend also can easily be spot here
Firstly, before you do anything, take a look at your M30 chart ( Main Chart ).
This is very important to identify the market’s trend. Ask yourself whats the market was doing. It is bullish or bearish ? Are there any possibility of trend change ?
Once the trend has been identified, move to the ‘Entry Chart’ to find an entry follow the M30 trend direction.Never ever place your trade opposite the M30 chart trend direction
2. Rules for SL and TP
Basically, there are 2 rules for my TP and SL setting.
1. If you want to trade when the market’s volume are low, thats no point to put
your target too high. Even though you move your SL to BE right after or at 10 pips, you might get yourself stop-out at the BE level. This situation ‘always’ happen to me before .
At low volume market ( volume average below 60 level ), I just target my TP for just 15 to 20 pips. For SL, I always put it at the most recent peak ( high or low ) or at max 30 pips.
Low volume market conditions mostly happen during Asian Session.
2. During high volume market’s condition ( volume average above 60 level ), you can set your TP higher. SL rules are still the same. At this market’s condition, you can trail your profit using autotrailing ( 15 pips to 25 pips ) or whatever style you like.
Usually, the market’s volume start to increase at London Session and continue until New York Session ends.
In the picture below example Stop Loss And Target Profit