Lucky Stars System is a forex trading system. Lucky Stars System is suitable to trade in intra day time frames like 5 minute, 15 minute, and 30 minute charts. This system is suitable for taking quick profits from intraday swings but it is not suitable to scalp for few minutes. There are five technical indicators used in this forex trading system. Four technical indicators are located at the main chart window and one of them is at the indicator window. You can trade in any currency pair with this trading system.
Since this system allows you to trade in shorter time frames, you should use have money management strategy. Make sure that your target is at least double of what you risk. Maintaining sound risk to reward ratio is very important to make money in forex market. If you have sound risk to reward ratio, you will make money even when you are right 50 times out of 100.
When Lucky Stars System is correctly installed in your trading platform, your chart should look like this:
There are red and green arrows in the main chart window. Green arrows indicate buying signal while the red arrow indicates selling signal.
- Moving Average
There are two moving averages used in Lucky Stars System. The yellow moving average is a 32-period moving average applied to weighted close. White moving average is a 16-period exponential moving average applied to closing price.
LuckyStarVF is located at the bottom of the chart. When the green stars form you should be buying and you should be selling when you see red stars.
Buying Conditions Using Luck Stars System.
- Market should be above the Moving Averages.
- LuckyStarVFshould form green stars.
- A green arrow should form below the market price.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when a red arrow appears above the market price.
Selling Conditions Using Lucky Stars System.
- Market should be below the Moving Averages.
- LuckyStarVF should form red stars.
- A red arrow should form above the market price.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when a green arrow appears below the market price.
Download Free Forex Lucky Stars System
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