FOREX HITMAN

Overview

Forex HitMan Trading System is a forex trading strategy that utilizes various Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) to identify trading opportunities. The system is designed to be simple yet effective, applicable to different timeframes (1H, 4H, or daily) and various currency pairs, with a preference for EUR/USD, GBP/USD, and USD/JPY.

Key Components of the Trading System

  • Indicators Used:
    • EMA 80: Indicates the major trend direction.
    • EMA 21 and EMA 13: Provide current trend direction.
    • EMA 5: Used for more immediate trend changes.
    • RSI (21): Measures the strength of the market and is used to confirm the trend direction.
  • Major Trends:
    • Uptrend: When the price is above the EMA 80.
    • Downtrend: When the price is below the EMA 80.
  • Current Trends:
    • Uptrend: EMA 13 above EMA 21.
    • Downtrend: EMA 13 below EMA 21.
    • RSI > 50 indicates an uptrend, while RSI < 50 indicates a downtrend.

Trading Rules

Buy (Long) Trade Rules

  • Entry Conditions:
    • EMA 5 crosses above the EMA 13 and EMA 21.
    • Both EMA 21 and EMA 13 are above EMA 80.
    • RSI is above 50.
  • Exit Conditions:
    • EMA 5 crosses below EMA 13 and EMA 21.
    • RSI drops below 50.
  • Stop Loss:
    • 100 to 200 pips, depending on the volatility of the currency pair.
    • For more volatile pairs like GBP/USD, use a 200-pip stop loss.
    • For less volatile pairs like EUR/USD, use a 100-pip stop loss.

Sell (Short) Trade Rules

  • Entry Conditions:
    • EMA 5 crosses below the EMA 13 and EMA 21.
    • Both EMA 21 and EMA 13 are below EMA 80.
    • RSI is below 50.
  • Exit Conditions:
    • EMA 5 crosses above EMA 13 and EMA 21.
    • RSI rises above 50.
  • Stop Loss:
    • 100 to 200 pips, depending on the volatility of the currency pair.

Conclusion

The Forex HitMan Trading System provides a structured approach to trading by using specific indicators to identify entry and exit points for trades. By adhering to the rules for buying and selling, traders can systematically approach the forex market, potentially improving their trading outcomes.

Download