Hello friends,

My purpose in this thread:
1) Test out a very simple system with Heiken i candles
2) Post my trades and outcomes when I have the time
3) Hopefully help others in their trading

Disclaimers:
1) I'm NOT an expert trader. Any advice or systems are for eduional purposes only. Trade at your own risk.
2) I don't have any idea how profitable this system is going to be, as I've only just begun testing it.
3) This system relies upon additional systems here at FF.
4) I have NO commercial interests, but commercial members are welcome as long as they play with the rules.

Rules:
1) Please be respectful of other people.
2) Please be constructive with your remarks.
3) Please don't be overly negative or critical just for the sake of it.

Suggestions:
1) Post pictures when you can.
2) Keep cool and relaxed. We are all here to learn how to enhance our trading.
3) Attempt to make the process easier, not more complex (e.g., prevent adding extra indiors).

------------------------------------------------------------------------------------------------------------------------
Heiken i System:
1) BUY = the previous heiken ashi bar was bullish
2) SELL = the previous heiken ashi bar was bearish

Time frame:
1) Higher time frames (weekly or daily graphs preferred)

Exit principles for manual trading:
1) Exit when the heiken ashi bar changes colours
2) Set SL to just below prior resistance

Exit rules for automatic trading:
1) Exit if a fixed TP or SL was hit

------------------------------------------------------------------------------------------------------------------------
My thoughts:
1) I prefer the weekly graphs
2) I would rather create my trading more automatic
3) In my opinion, this leaves two primary installments.

Setup A - Practice the trend:
1) Follow the prior heiken ashi candle
2) Set a fixed SL and TP using a 1:1 ratio (e.g., 30 pips TP and 30 pips SL)

you might be thinking: Why such a low TP and SL?
The motive is straightforward: quantity.
We can take many transactions every week using this criteria, and my estimation is we'll have about 75% winners (that can be my ESTIMATE).

Example:
30 transactions
21 = win
9 = loss

Pips obtained:
(21 * 30 pips) = 630 pips
(9 * 30 pips) = 270 pips
Weekly gain = 360 pips

**In most cases, we'll just follow the prior weekly trend! **

Here's an example commerce that I took this week around the GBP/JPY using a 30 pip TP (the trade won).



Setup B - Grab the newest fad early:
1) In the event the weekly heiken ashi bar changed colours, trade the new colour for a potential trend change.
2) Set SL below prior per day candle, and exit trade once heiken ashi bar changes colours.

Example: The final 5 weekly heiken ashi candles were bearish. This week it closed bullish. Place a BUY order.

**The idea with this system would be always to be getting in early on a potential trend change! **

Here's an example commerce I took this week around the EUR/USD free of TP plus a SL below the prior weekly candle (which I've now moved to break-even level).



Here is the method I'll be researching in this thread! If you would like, don't hesitate to join along.