Amazing Crossover System - 100+ pips per day!

[pipilika]

Thanks for sending the picture so that I can follow along. Your beginning of the day is different than mine so now I can understand your frustration with that channel that occurred. I don't think your opinion about MA strategies is far off. It appears to be a given by many that MA strategies work in trending markets as opposed to consolidating or channeling. That price level in general appeared to be a tight area over the previous days. I still find myself over analyzing whether to get in or not. I'm beginning to feel that the more confirmation I see on longer term charts to support my decision to get in the better I do. Then again, I miss out on more opportunities. The H3 chart is of particular interest.

Any comments on where the exit may be on the 3hr?

Personally I never used the H3 or even H4 so cannot comment on that. I only and always prefer using the H1 and I think that suits me most.

[pipilika]

Hi Guys

I have been using this method for a couple of months now and have been following the rules except for one that is I use the RSI setting 14 I still get a few whipsaws but not as many. Give it a try on demo account.

Thats a great idea! Definitely changing the RSI should cut-off some whipsaws. Should've thought about it before. Anyways I'll use it from this week and post updates. Thanks.

[pipilika]

One thing I would like to seek opinion from all the people around here is about there S/L and T/P policies. T/P is not much bothering me at the moment cause most of the times I'm happy to get around some +50 pips and if that is on multiple pairs then I'm probably done for that week. But what I'm worried about is the whipsaws. What is the usual number of pips we should initially set as S/L after entering a trade? How much 'room' we should give the candles to move around and at which limit we should take the loss considering that its not going to work. I usually use 20/25 pips S/L and looks like they are too tight sometimes. Price starts to go negative on my trade, hits my S/L and then go back to move towards positive zone and there starts a good trend. Which means, my trade setup was right, I just didn't give it the necessary room it required to initially move.

Detailed thoughts and opinions are highly welcomed. Best wishes for the coming trading week.

[jsd74]

this system is shown in the babypips school (on daily timeframe) -

Create Your Own Trading System
The 'So Easy It's Ridiculous' System

has anyone tried looking for setups on all timescales on 1hr and above? i.e. with 1pair looking at 1hr then 2,4,8hrs, then daily and entering wherever there is a setup on that pair?

Made my first entry today on eur/usd (short) Got a bit hairy whipping around the pivot point so will avoid those in future. Also waiting for the first parabolic dot seems like a good idea for further confirmation.
Its tempting to enter as soon as the ema's cross but as i found out today (luckily!) best to wait for current candle to close first before entering.

Worth remembering that ALL technical indicators were conceived on the daily timeframe so that is THE best timeframe to trade on. Thats why most books (and the babypips school) give examples on daily.

[JoanGuz]

Hi ForexPhantom!

I'm trying to test your system, looks pretty good. Do you know about a good alert app/program that can send my signals to my phone? Because I'm working all day, and I want to know when the EMAS crossover to enter the market.

Thanks!!

[lilpixie]

anyone has created EA for it?

i dl amazing crossover (the-lazy-trader.com/2012/01/amazing-crossover-system-expert-advisor.html) but is doesnt work. error #130 seems to be the problem... or anyone knows how to resolve it?

[acsofspades]

This system looks promising; I'm going to give my own derivation a try...

[TK5]

Let me get this good thread. I enclose chart for Daily trading and H4
EMA 3, EMA 8, MACD 3.8.4 and RSI 10 (2)
Can I have some indication?
Thanks and sorry for interfering, small trader.

[nmani2010]

Hello,
I have been trying this system for the last 3 months or so in real time, ofcourse in mini lots, I had one positive trade. However, on Aug 6th 2012 I sold GBPUSD at 1.5607, and on Aug 10 2012 I sold AUDUSD at 1.0533, EURUSD at 1.2294 and bought USDCHF at 0.9769. All the trades are loosing now, the crossover has happend in the opposite direction as per the system in their respective charts.

Now, the analyst say the markets are going to go by my initial trade, where as system indicators say its going opposite to my trade. Should I close the trades for a loss or take the market analysis and stay on them?

[Banker928]

Hello,
I have been trying this system for the last 3 months or so in real time, ofcourse in mini lots, I had one positive trade. However, on Aug 6th 2012 I sold GBPUSD at 1.5607, and on Aug 10 2012 I sold AUDUSD at 1.0533, EURUSD at 1.2294 and bought USDCHF at 0.9769. All the trades are loosing now, the crossover has happend in the opposite direction as per the system in their respective charts.

Now, the analyst say the markets are going to go by my initial trade, where as system indicators say its going opposite to my trade. Should I close the trades for a loss or take the market analysis and stay on them?

If you are even asking the question it means you don't have confidence or discipline to follow the system explicitly.... Therefore close the trades and stop trading the system....