Overview of Beejay Forex Trading System:
If the potentially high return of “Beejay” online forex trading system has not persuaded you yet, then its versatility should do. Any time frame can be applied to this strategy, however, there are still priorities on M15, H1, and H4. Similarly, users have a wide range of currencies pairs to apply this strategy on, but in practice, “Beejaay” was applied successfully with these packages: EUR/USD, AUD/USD with M15, and GBPUSD and EURUSD on longer time frame H1 or H4. As always, Metatrader 4 is still a recommendation of the trading platform.
The following indicators are required for the chart:
- An Exponential Moving Average EMA (8) (the color is Red, apply to Close).
- A Simple Moving Average SMA (26) (the color Blue, apply to Close).
- A Commodity Channel Index - CCI (55) (apply to Close, level "0").
- A Commodity Channel Index - CCI (34) (apply to Close, level "0").
- A Relative Strength Index - RSI (26) (apply to Close, level "48").
- An additional indicator Parabolic SAR (0.02, 0.2) to install and rearrange the stop-loss.
If you like this strategy, you might also like this London Breakout Strategy
Conditions for purchases in the “Beejay” Strategy:
- The Exponential Moving Average EMA (8) crosses the Simple Moving Average SMA (26) downward.
- The Commodity Channel Index CCI (55) and CCI (34) cross the zero line downward also.
- The Relative Strength Index RSI (26) crossed its level 48 and went down.
- After all the above requirements are met, make a sell order when the candle of the next day closed Bear.
Important rules when applying this strategy:
- Opening one position at a time is a high recommendation.
- Don’t enter the market until the candle of confirmation is totally closed.
- All signals must be received after one trading day.
- The maximum risk for each transaction shouldn’t be more than 2% of your total balance.
- The order should be set expired in maximum eight hours.
Pros and cons of the Beejay Forex Trading System
- Provides easy-to-spot indicators for traders.
- Requires built-in indicators.
- Easy to install and follow.
- Provides a detailed guide to make the decision on buying and selling.
- Requires a good emotion control.
- Takes time to track potential points for ordering.
The “Beejay” is a forex trading system that works with a potentially high return and great versatility. Given such advantages, traders could apply it on a variety of different currencies pairs and time frames to find the most effective one for their own. A combination of “Beejay”’ application on some specific pairs is a suggestion on using this strategy, besides a prudent approach and a rigorous managing method as usual. Adding a quick note: to remember exactly the signal movements and adhere strictly to the mentioned rules are compulsory for a success in this market.