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Got this somewhere in a forum. Its a great trend trading indicator. Pls do try and give me your feedback. I,m testing it out now. It uses 15min to a Daily Trade.
Download link
Download Here
Forex is what I do all day. This is for all Kishore M Student . All indicators & PDF are free to download . Best Of Luck !
Trade management is a weak area for many traders, and can mean the difference between winning and losing in spite of how good a trading strategy is. Although not widely used, trading with multiple positions offers a flexibility in trade management which would be difficult to attain otherwise. In doing this however, it is important that the trader is with a broker which allows you to trade in small enough increments so as not to over-leverage your account. A powerful method of trade management is to scale out of losing positions gradually. For instance, if three positions were initially entered on a trade, you have the option of scaling out one or two of those positions while keeping yourself in the game. If the trade does turn around you can scale back into it. If the worse happens, then you minimize loss by not having taken the full hit on your stop loss.
If, on the other hand, your trade works out from the start with nice momentum, you can take partial profits on one position at a pre-determined target level. You can also scale that position back in on a retracement, and even add more positions to the trade after having moved your stop to break-even, and are, in effect running a free trade. I like to run my winning trades until I get some definite signs of reversal. Additionally, you can strengthen your edge even more by only taking trade setups that offer good risk/reward ratios.
This is the method that I have been using and I find that I can sustain a string of losses where I lose more trades than I win, but still be able to make a profit.
The MACD 3 Trade Assistant EA is an automated trade management program. What this means is that you tell it when and how to enter a MACD 3 trade, and it handles the trade management -- when to move stops to zero, when to trail stops up closer to current price to lock in profits, and when to trail stop out and close the trade. The MACD 3 Trade Assistant EA™ is specifically designed to facilitate trading the MACD 3 system. Certain parameters can be changed to make it behave differently, and might even be used to have it manage a trade as though it were a swing trade rather than a day trade. This documentation will cover the designed default behavior in detail, and will explain what effect changing certain parameters will have on the behavior of the program.