Quite some time has passed since I last added something new to the free ebooks section on EarnForex.com. Today, it is a trading strategy manual written by an unknown but highly experienced and detail-attentive author.
This MACD trading strategy is rather simple, yet it encompasses several aspects of the currency market and the actual trading process. Although it is based on very popular and widely used Moving Average Convergence/Divergence signals, it is also imbued with moving averages and horizontal price levels. Additionally a lot of actual trade examples, recommendations and exercises are included into this ebook. It is composed of the following document files:
4+Hour+MACD+Forex+Strategy.pdf — the actual strategy description document. Read it first.
Consolidation+Management.pdf — some notes on money management connected with the possible periods of market consolidation.
Excercise+MACD.pdf — a series of chart slides with a new bar added in each, allowing you to forecast the move with the strategy and check your forecast by looking at the following slides.
GbpUsd.pdf — an example GBP/USD chart with strategy’s complete markup.
No+Filter+Trade+as+you+see+it.pdf — many examples of unfiltered trading signals generated by the strategy.
Planning+your+Trade.pdf — some additional recommendations regarding position exits.
Presentation1.pdf — a EUR/USD @ H4 chart with all the strategy’s indicators attached but no additional markup or text.
Tsunami.pdf — what is the nature of success in FX trading and how the 4-hour MACD strategy should be employed.
While the proposed trading system looks thought out and generated profits during the observed test periods, there is one consideration against its profit-taking method that I would like to express. The strategy promotes taking partial profits at different levels, basically, scaling out of the positions. Even though the method bases the exit levels on indicator values, it is still a potentially weak point of the position management system utilized here. So I would recommend altering this aspect of the exit rules’ implementation. Nevertheless, use the strategy on your own risk and trade responsibly. You can download the full set of files for free:
4 Hour MACD Forex Strategy
If you have any questions, comments or suggestions regarding this e-book or about adding more free books to EarnForex.com, please feel free to post them in the comments below.
