Quote:
Originally Posted by fxray
Hi, I have been using a similar 15min strategy to your Cowabunga method for about the past 9 months prior to discovering Babypips.
The addition of using the stochastics and MacD as you recommend on a 15min chart has helped improve my winning pip rate a lot - thank you. I used to only follow a Daily trend and have now moved to 4 hour which sometimes provides an extra opportunity.
I also have a 50 simple moving average on the 15min chart and trade when I have the cross over of the 5 & 10ema through the 50sma. This does seem to help reduce getting caught by head fakes. I take the trade when a candle closes through the 50 and the next candle then retests the 50sma before continuing in the direction of the trend.
I hope this may help some traders
|
Hello Fxray,
I use MT4 and I notice that the 5 and 10 ma's are called sma's (slow moving average?) instead of ema's (exponential moving average?). Does this matter? and if so how do I get 5 and 10 ema's on MT4. I also notice that you mentioned 50 sma above instead of ema. Is that what you meant?
Thanks.