7/30/2019 IB system
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0-100 pips aday trading system
Hi there jim here
I would like to share the most simple and rewarding system with
you it requries no
indcators only stocastics.
Nothing else to genarate the above pips every day please try it
out if you like it i trade
live this system every day 7.00 - 5.00 mon to friday were you
can trade live with me but
first try it out on demo.
IB SYSTEM
This system is very simple and requires only one indicator
Please dont add any other
indicator's it will potentially affect the performance of this
system.
This system requires patience and time to learn it.
The system works in anytime frame and with any pair
The Indicator you need is Slow Stochastic setting 6.3.3 some
platforms will only allow
6.3 thats ok.
Next the key element of the system contained in all trades is
the INSIDE BAR or inside
day as some like to call it.
An inside bar or IB is simply when the current bar is less than
or equal to the bar to theleft of it. The inside bar can also be
the same size as the previous bar.
THE INSIDE BAR is a standard technical analysis pattern; however
most people over
look it. You can also use an outside bar or OB which is the
opposite.
The INSIDE BAR is a Powerful Set up!
HOW TO TRADE THE IB
First look for an IB to form then check if its a valid IB with
the stochastic indicator setup.
7/30/2019 IB system
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STOCASTIC INDICATOR SET UP
when stochastic are below or around the 20 and oversold and
starting to hook round look
for an IB to go long, When stochastic are up to 80 and above and
starting to hook round
in overbought look for an IB to go short you will find them the
best in trending marketsalso range bound markets but if the price
action is choppy stay out.
The Stochastic don't have to be exactly 80-20 but it is stronger
signal if they are.Sometimes as an example they may at 35 as long
as they start to turn and hook up and an
IB forms its a possible valid trade.
To enter a trade wait for the next bar after the IB to go up 2
pips higher than the IB for a
buy signal or 2 pips lower for a sell signal.Also the shadow of
the IB must be inside the prior bar as well in the overall size
otherwise its not a valid signal.
If after the IB formed you get another bar the same size as the
IB and it doesnt go 1-2
pips either way then you may look at up to 3 -4 more bars after
the IB bar to confirm a
signal and enter a trade. If you dont get a signal stand a side
and wait for a new IB to
form.
STOPS & EXITS
For stops and exits you can trail a stop at the bottom of the
prior bar to the IB by 2 pips ifyoure more Aggressive 2 bars below
the prior bar to the IB.
Exit when stochastic cross in the opposite direction but
becarefull when going long as
when stochastic hits 80 it can hang around a while first before
carrying on up or juststaying flat in a strong up trend so wait for
a hook down and heading under the 80 level
or a reversal candle to exit.
Also to exit look for the big numbers if you were trading
GBP/USD for example look for
the market to turn around at 1, 9000 / 1, 9020 /1, 9050 / 1,
9080
Try not to enter trades around the big numbers wait for price to
go through and retrace to
the support or resistance then look for an IB to form and take
the trade.
I look at a 1 hour chart first and see what the over all trend
for the day is going to be then
