Get Forex Power PRO System FREE Also Watch Recorded Webinar

Russ Horn is a well known professional forex trader. He is giving his Forex Power PRO System FREE. Just watch the webinar recording below in which he explains the chart setup, entry rules, stop loss and take profit using live trade examples.

As you can see this is a very simple trading system. Below is the recap of the Forex Power PRO system as explained in the above video:

Entry Rules

  1. Apply 20 EMA to the Highs (dodger blue)
  2. Apply 20 EMA to the Lows (red)

Trailing Stop Loss Rules

  1. Apply 10 EMA to the Highs (red)
  2. Apply 10 EMA to the Lows (dodger blue)

Additional Entry Filter

  1. RSI 10 with levels at 44 and 55 (dodger blue)
  2. 10 SMA applied to the RSI (red)

Buy Trade Rule

  1. Price closes above the 20 EMA of the highs
  2. RSI is above 55 level
  3. RSI is above the 10 SMA applied to RSI
  4. Place the stop loss a few pips below the 20 EMA of the lows
  5. Trail the stop loss by moving it along the 10 EMA of the lows as a new candle forms
  6. Take profit level is  1:1

Sell Trade Rule

  1. Price closes below the 20 EMA of the lows
  2. RSI is below the 45 level
  3. RSI is below the 10 SMA applied to RSI
  4. Place the stop loss a few pips above the 20 EMA of the highs
  5. Trail the stop loss by moving it along the 10 EMA of the lows as a new candle forms
  6. Take profit level is 1:1

Adding the SMA to the RSI is a bit tricky. You will have to use the navigator window for that. Drop the SMA from the Navigator window onto the RSI window and then choose,” Apply To Previous Indicator Data.” That will set the SMA on the RSI. Sounds simple. Watch the video also in which Russ Horn shows you how to do it. So there should be no problem.

The recommended timeframes for the new traders is the 1 hour and the 4 hour. Keep your trading simple will always help you a lot in making better trading decisions. You should also read our previous post on how to use the Fibonacci levels in finding the turning points in the market. This is the second post that you should read. It explains another very simple strategy that uses news to make a lot of pips. Read the post in which we explain a very simple news trading system that made 1000 pips trading USDJPY.

As you must have observed in the above video, Forex Power PRO system offers a reward/risk of 1:1. Using a reward/risk of 1:1 is a good idea in the beginning. But once you get hang of the system you should try to experiment with the 2:1 reward/risk ratio. 2:1 reward/risk means if your stop loss is 25 pips, try to choose a profit target of 50 pips and see if the profit target gets hit. Try to calculate the average winrate with this new take profit level. If you get a winrate above 80% that’s very good. A 2:1 reward to risk will ensure that you will always make more on average than you will lose on average so that your account will always grow. This is what you want in the end to grow your account.

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