Forex trading strategy #17 (Teodosi simple system)

This Forex system was sent us by Teodosi.

We are proud to have such users willing to share their thoughts,
ideas and systems so that others can learn and trade Forex even more successfully!

Thank you, Teodosi! Your contribution is greatly appreciated!

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"Hello guys i`ve been using one very profitable system and i want to share
it with all of you. If anyone has any suggestion i`m open to hear something
new to add in it.

This is my system.

I use 1h chart on GBP/JPY with Stoch(5,3,3) and RSI(7). My idea is this ...
I use Stoch and RSI just to define where it is possible to have a breakout.
Then I use most profitable tool I`ve ever tried - I use candlesticks.
If I have strong up trend and my Stoch and RSI are overbought, and we have
down trend candle (black candle) close at the middle of the last
(in this case white one) I enter my trade.

With this system I make more than 1500 pip only from GBP/JPY for week. I just use it for GBP/JPY.

Rules are this:

Sell when RSI and Stoch are bought or they are close to overbought (75)
line, and we have down candle which has closed at least at the middle of the last up
candle.

Buy when we have oversold RSI and Stoch and we have up candle which has closed
at the middle of the last down one.
;) very very very simple and very profitable system

Exit rules if we are in a sell trade and ... we have oversold RSI and Stoch
and we see this up candle which has closed at 50% of the last down one - exit and
enter another trade.

Like I said this very simple and very very profitable
system. O, and I put my stop lost at -100 pip.

I`ll be glad if you post it ... and want to see what folks will say about it ... :)"

Teodosi.
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Sure, we posted it!
Thank you and happy Forex trading!

Learn about another Simple system by Teodosi
at http://forex-strategies-revealed.com/teodosi-moving-averages-tunnels