Bulls Pips system is a trend following trading strategy that is developed to trade in the forex market. It can be used to trade in wide range of financial securities other than currency market though. Bulls Pip system is really a simple trading strategy. Anyone can learn to trade with it within a short period of time and can consistently make money without the past experience in trading. However, one can make money consistently in this business only if proper rules of trading are followed. If you follow the proper guidelines of this trading strategy you can make lots of money even if you don’t have any past experience in trading the currency market. Bulls pip system can be used in any trading time frame and with any currency pairs. But for the better results time frame below 15 minutes are not recommended. Higher the time reliable is your trading system. This is because trend will not change dramatically in short periods of time it may last for months and even years. So think, if you are trading in higher time frames and following the major trend of the market you have very less chances of being wrong.
In Bulls pips system you have four technical indicators that will guide you to execute your trades. When the Bulls pip system is correctly installed on your trading platform your chart should look like this:
- Exponential Moving Averages (EMA): EMA is an indicator that will help you to figure out the direction of the market. Bulls pip system uses two EMAs-
- EMA 34 (Applied to Median price): It is light blue in color and it is the fastest moving moving average used in this trading system.
- EMA 55 (Applied to Median price): It is brown in color and it moves slower than the EMA 34.
- Retracement Finder: This custom made indicator consists of a histogram that moves within the range of 216 and -209.
- Bull Pips: At the bottom of the chart you can see the bulls pips indicator which works as a filter.
Buying conditions Using Bulls pips System.
- Price should be above the both EMAs (EMA 34 and EMA 55).
- Retracement finder should be moving in positive territory.
- Bulls Pips filter should be blue in color.
- Place your stop just below the recent swing low.
- You should take your profits as soon as Retracement finder begins to fall to negative territory.
Selling Conditions Using Bulls Pip System.
- Price should be below both EMAs (EMA 34 and EMA 55).
- Retracement Finder should be in negative territory.
- Bulls Pips filter indicator should be red in color.
- Place your stop just above the recent swing high.
- Take your profits as soon as trend filter moves in the positive territory.
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