What is the best system to trade the daily charts?

I'm willing to risk about 200 pips per trade and I prefer the major currency pairs such as EURUSD GBPUSD USDJPY.

 

Please tell me what you believe is the best system to trade using the daily charts. It could be a commercial system or a system of your own creation. If possible, please provide a download link for indicators/template/pdf so it will be easily accessible to us all. Also helpful if you spell out the rules and logic of the system. Thanks !

well try to find out about John C@mbell's Rich L@zy trader, i believe you can also trade fx with it, though i can't say for certain it works since i have'nt personally tried it.

I've personally had above average results trading the Brain Trend setups on a daily timeframe (among others). It's a trendfollowing setup that basically mimics the Abletrend system but it much more affordable. I risk 2% of my total account per trade and trade it across the EurUsd, EurJpy, GbpUsd, GbpJpy, UsdJpy, and UsdChf. One must be willing to trade thru drawdowns that generally run in the area of 8% to 10%. You absolutely must not flinch at taking the next signals when in the midst of such a drawdown. However, by doing so I've never yet failed to trade thru the drawdown and reach a new equity high. It is also imperative that you allow the winning trades to keep running as long as possible until the trailing stop is hit. If you are tempted to close out your winners early, you will not be profitable as it is the few very very big winners that put solid profits into your account. I've had 1000+ pip winners using this system. This setup just recently caught the bulk of the bull trend in the EurUsd where I entered at 1.2801 and was finally stopped out at 1.3741. Profits were over 11 times the size of the initial risk. So if you have trouble with letting your profits run, don't trade this system as that is a crucial key to trading it successfully. You can find the system here:

http://indo-investasi.com/showthread.php/704-BrainTrend-Proven-Manual-Trading-System?highlight=brain+trend

Time is relative.....

My preferred for DAILYS:

 

Profitunity (Bill Williams Chaos)

http://www.forexfactory.com/showthread.php?t=26044

 

Trendfinder:

http://www.forexfactory.com/showthread.php?t=91452

 

AshFX:

http://www.forexfactory.com/showthread.php?t=156889

 

BigSandwich:

http://www.forexfactory.com/showthread.php?t=34494

 

EurUSD TrendMAgic:

http://www.forexfactory.com/showthread.php?t=252157

 

RSI Daily Pivot:

http://www.forexfactory.com/showthread.php?t=13169

 

Method BB:

http://www.forexfactory.com/showthread.php?t=16101

 

Ichimoku:

http://forums.babypips.com/free-forex-trading-systems/18471-ichimoku-trading-system-7.html

 

Regards

 

indo37

Interesting thread Diesel. Some time ago I decided to look at daily trading but let it drop since I was in Bulgaria and midnight, uk, for me was two in the morning.

Now that I am here in Penang, it is time to look again. Midnight UK is 0800 for me so easy to play.

 

I set up a multi strategy chart with:

Daily IB, Dean Saunders;

3rd Candle;

Fozzy, from FF;

Lindencourt Daily;

 

Possibly a 3x5 EMA cross, I will look during the course of the day if I am not too busy with my demo breakouts trial.

Could you please tell me where I can find Dean Saunders' Daily IB system?

Thanks in advance!

You should find it in the 10MFWB system which is shared here.

 

 

http://indo-investasi.com/showthread.php/6275-request-10-minute-forex-wealth-builder?highlight=10mfwb

Edited November 17, 2010 by daveg1
add link

Could you please tell me where I can find Dean Saunders' Daily IB system? Thanks in advance!

 

I think that it is called Forex Wealth Builder but if you search for Dean Saunders I suspect that you will find it shared.

 

Failing that, TRO has 'in/out' indicator on Kr€5lik.com

 

HTH

 

SORRY!!! Didn't see daveg1 post. It is the proper name...10 min etc.

Edited November 17, 2010 by Freddie