Evening all
So I thought I'd give something a try. I decided to use two systems on one pair. The first is the 50EMA and just that. The second is actually the "So Easy It's Ridiculous" system thats in the school on this site. If you didn't actually look at it (or go through the school, which is a mistake cause theres good info there), it is basically the 10 and 5 EMAs, slow stochs @ 10,3,3 and RSI. You enter when the 5EMA crosses above/below the 10, slow stochs heading up/down and not in oversold/bought and RSI >/< 50. You ride it till the actions reverse or if RSI crosses back to 50. A system similar to others and I think we had one going on in here like it before. So I have all this set up with the 50EMA on the chart as well.
Anyway, I took a long position Tuesday in NZD/USD based solely on 50EMA and letting that ride. Yesterday I had a cross of 5EMA above the 10 and waited for today for confirmation. RSI >50, Stochs rising and not in overbought, so I took that position. Now I have two positions open on this pair. I'm going to watch the second position as it will react quicker and when it reverses, I'll close that position gaining me some profit. Then the 50EMA will continue to do its thing and I will take profits when a candle breaks the 50. Make sense?
Worth doing, or wasting time? What do you think? I think its cool cause then you're gaining some more profits off the same trend you got in on with the 50. Dumb? Maybe? No? We shall see.
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