A Simple Trading System by Alexander Elder

I always prefer a simple system. And I like to use moving averages. Here's a simple trading system devised by Alexander Elder:

Getting into the market, long or short is based on a combination of Momentum of 14 sessions, and a MA of 13 or 20 sessions.

1. When Momentum crosses the 100 line, is an alert
2. The price, must close below or above the selected MA (this requirement is called first momentum condition filter)
3. When conditions, 1 and 2 are accomplished, we get into the market, long or short.
4. This strategy has been submitted to a big number of test, and it gives very good results, in EUR and GBP charts, in 30 minutes and 1 hour, with a 25 pips for trade.
5. Stops must be placed whenever a condition disappears.

[Source: FXstreet]