Ema Step System.

[maurizio77]

Interesting opinion Hideyoshi, when i don't see any cross on the daily i often use the 15min....and have success with it, if i didn't i simply wouldnt reccomend it to others.

This system WAS designed for the longer timeframes, but i found that once i knew the system i could take the system to lower timeframes and still walk away with pips, all be it nowhere near as many as on the daily.

Also 500 pips!......where was your stoploss my friend?
When i trade the 15min i am looking for 10 maybe 20 pips, trailing the stop every 5 pips.

I don't understand how you could lose 500 pips in 6 trades...thats a stop loss of 83 pips on average.......for a potential 10-20 pips profit. That kind of ratio is mental! lol

Still many thanks for your opinion, i asked for all feedback and i have to be prepared to take the rough with the smooth

[cryten]

nice to know you do use 15 mins, when there is no cross on daily im going to try looking at 4 hour and then going down to 15 min to get in on the direction of the 4 hour unless you have any other tips for 15 mins?

[Benjimang]

Hey people, Maurizio is right, you can use shorter timeframes really well. I use the 1h and 30m if nothing appears on the daily, but you can't be chasing any more than 10-20 pips per trade.

As a side note, if anyone was wondering, I've stopped my commentary for a couple of reasons. Firstly, my experiment with the different pairs hasn't worked too well. This system is far more profitable on JPY pairs than most others. Secondly, I think that the pressure (to be right) of posting my thoughts on a publix forum was making me over-analyse each pair. I'm back in the black now.... does this make any sense to anyone, or maybe just a coincidence?

Now, I'm no programmer, but if someone will through up an EA for this system, I'll gladly put some time into testing various parameters to try to increase the mechanical nature if it. I tend to find using EAs to make trades, then managing them manually works really well as a trading style for me... kinda like cyborg trading or something!

-Benjimang

[cryten]

hey, found this ea in my vault, you just need to change the values of the moving averages in the properties.

I will try some shorter timeframes too, will try out eur/jpy and usd/jpy, can't afford the spread on gbp/jpy lol

**Should probably add I did not code this ea, credit should go to Coders Guru from TSD.**

[maurizio77]

Hi Cryten,

You asked if i had any tips for trading lower timeframes, well i have just done this, its a bit rushed as i am on my lunchbreak.

But it should help in trading lower TF's.

This particular pic is of the 15min chart that i have just been on.


If you want a hand sifting through all the noise of the lower timeframes, use a tool that tells you when we are at a top, and when are at a bottom.

You should already have a CCI up, this will tell you when the mover is just beginning or about to burn out by the "Peaks" we have spoken about previously.....now for lower TF's simply try a Bollinger Band, standard settings. (14, 2)

You seem a pretty switched-on bloke Cryten so i will not bore you with the ins & outs of the "Bollinger-Bounce".

The technique is simple, wait until price hits the upper/lower line or obvious resistance, and when it bounces back, wait for the first EMA cross candle, the enter on the step (just like day trading).

To exit, keep a close look on your CCI and the price approaching the opposite BB, when you think the move is over get out.....and possibly enter in the opposite direction when you see another cross......apart from at news times you can pretty much do this all day.!!!

I have included a pic.

The Blue circles represent the "Hit" of the Bollinger band or resistance.
The Yellow circles represent your "Cross candle".
The Yellow oblong thing represents the trade outcome (with pip totals)

As for a stop loss, as you know mine are all mental, but if you wanna know what i do, i put a 10 pip SL above/below the CROSS CANDLE.........NOT YOUR ENTRY CANDLE.

I hope this helps mate

RIGHT!!!...off for some fooooood !

[cryten]

Thank you maurizio

Quick scalp on usd/jpy and eur/jpy for 10 pips each

only rule I have at the mo is to keep in with the daily trend, i have daily, 4 hour a 15 min charts up for the pairs im trading.

$10 a pip so not too shabby! I love double cross candles, free money almost, just need to be aware the wicks can sometimes be more extreme so i'm still working out the stop loss for these.

[cryten]

On the charts GBP/CHF looks like GBP/JPY when you first started this thread, maybe one to add to the arsenal?

[Benjimang]

Hey Cryten, you're spot on with the GBP/CHF idea. I've actually setup 6 charts that I watch now, and I have been outrageously profitable with them. They're JPY and CHF pairs backed by EUR, GBP, and USD. I actually prefer USD backed pairs the least.

If anyone is interested, I tend to drop straight down to 30m if nothing appears on the daily. This has been working well for me, but I suppose everyone is different.

-Benjimang

[Benjimang]

Oh man, what a sweet night on this system. All six CHF and JPY pairs are going crazy on the 30 min charts. Is anyone else catching this?

-Benjimang

[james231287]

maurizio,

Im just wondering what you do when your in the situation where you hav a cross candle but the CCI and stochs are in the middle (Between 100 and -100) or even going agaist the direction of the cross.Do you go with the cross? or do you just wait untill the CCI and stochs indicators are agreeing with the direction of the cross candle?

Thanks,
James