143 # Pallada 3.4 Trading System
Submit by JanusTrader
Setup
1. M30 charts on the EU, GU, UJ, UC, pairs with full indicators in that order on the “Charts Bar”
(View – Charts Bar).
2. Select: Windows -> Tile Horizontally.
3. Account balance $5,000 per full lot, $500 per micro. I think this is a bit aggressive and suggest doubling it.
4. Suggestions to make it cleaner: Remove the following Pallada Indicators:
a. #Pallada _Commentator
b. #Pallada_SignalBoard
Trade Entry
1. When the BB (Main Signal) changes color wait for the bar to close.
2. After the close of the bar, look at the Entry Signal, Pallada Entry signals (all of them) and the VQI signal. If all three are the same color, enter the trade. If not wait until all three are the same color.
3. If you have to wait for more than three bars, abort the trade.
4. Take ALL trades as there are frequently only 2 per day.
5. You need to decide on the stop loss. Some ideas are:
a. Set it to 35 – 40 pips per the Pallada instructions.
b. Set it to the highest (or lowest if long) of the 3 previous candles). If more than 40 pips
revise the number of lots that you are trading.
c. Set it to the last swing high (or low if long) and adjust the number of lots.
Re -Entry
1. To re -enter a position, wait until there is a small red or blue exit arrow on the main chart. For long, the arrow, main signal, entry signal, and the VQI are all BLUE. For short, all should be RED.
Only re -enter in the direction of the original trade – Pallada Main Indicator.
Exits – They are an art, not a follow the rules.
1. Set the E -Smart Trailing EA to take profits in thirds. Suggested at 25, 35 and 55 pips.
2. Manual exits: Take25% - 33% of lots between 20 -35 pips depending on the strength of the movement.
a. Take an additional 25% - 50% at 50 -60 pips.
b. Let the rest ride to where you want to exit.
3. Other option strategies:
a. Exit when Pallada fast exit signal appears. Per Pallada, this is the most conservative.
Share your opinion, can help everyone to understand the forex strategy.
Maurice (Wednesday, 17 May 2017 20:55)
Perfect for trading!!!
I try is very profit.
thanks for share!!
Keith (Thursday, 15 August 2013 08:57)
The Pallada System has some good indicators but it needs educating; if some one would please do it