I have been using multiple EAs to trade with, and after using about 10 different ones for 2 weeks I have found the best one to be a very basic EMA Crossover system. This is my opinion of course.
Knowing that a good system for one person, might be junk for another, I think it is important to explain my Forex goals so you understand what I was looking for.
Goals, quite simple really…end each trading week at +50 pips with as few losses as possible. Doesnt matter if its 1 trade, or 50 scalping trades…that is the goal. Sounds Simple and basic but some people are willing to accept 4 or 5 -20 pip trades, to catch that +200 ride.
The system I am using:
Markets - Eur/Usd & Eur/Gbp
Charts - both 1HR and 15M
EMA Setup - 10 EMA off the close(Short)
80 EMA off the close(Long)
Trade Set up - No T/P or S/L, I do use a 15 Trailing stop, Enter/Exit on the cross.
Money Management - I put up 2% equity on each trade, never more than 4 open trades at a time.
Thats IT !!! Basic Crossover, when the 10 closes 1 point above the 80 I go long, and when 10 closes 1 point below 80 I go short. Of course only 1 trade a time on any chart.
Does anyone else use a basic Crossover system that they show a high win %, with decent risk/reward ratio ?
[I][QUOTE=mtandk0614;44355]
The system I am using:
Markets - Eur/Usd & Eur/Gbp
Charts - both 1HR and 15M
EMA Setup - 10 EMA off the close(Short)
80 EMA off the close(Long)
Trade Set up - No T/P or S/L, I do use a 15 Trailing stop, Enter/Exit on the cross.
Money Management - I put up 2% equity on each trade, never more than 4 open trades at a time.[/I]
Hi,
I like the idea of cross-over trading: I use 8 and 89 on the fibonacci range… Feels more “precise” And, in addition, on the 15" chart, I have three extra "trade signal checks: Buy@RSI>50, CCI>0 and simultaneous stoch: cross-over - S@RSI<50, CCI<0 and simultaneous stoch: cross-over.
How does this sound?
Bern