Ema Step System.

[daruggedman]

hey guys i'm was just wondering what is a double cross candle...by the way i'm kenny nice to meet ya'll

[maurizio77]

Hi James,

Good question.....To be honest it depends on the timeframe.

The higher it is the more i will go with just the cross, for instance on the daily i will invariably trust the cross (so long as the candle has officially ended still crossed) on a 5, 15 or a choppy 30min chart i will look for the confirmation signals to bolster my chances of a decent trade.

If you are just starting out using this sytem, i would wait for all the indicators to be where they are supposed to be, you may have fewer trades but the ones you do have are more likely to be successful......and thats the name of the game isnt it? :P




Made a killing on this system last week and have been having alot of fun with it this week too.

If this sort of movement happened once each month with regularity, i would give up my job tomorrow...........seriously


Good luck James

[Benjimang]

Originally Posted by maurizio77

Made a killing on this system last week and have been having alot of fun with it this week too.

If this sort of movement happened once each month with regularity, i would give up my job tomorrow...........seriously

Man, I know what you mean Maurizio. The past couple of weeks have been a gold mine with this system. I hope this isn't just because the market is behaving the way we need it to. This week I have only placed one set of 'daily' trades. That was yesterday on a couple of JPY pairs that 'double crossed'. Other than that, I've been trading the 30 min with a TP of only 10 pips. Like I said, I use it on 6 pairs though. So I can usually make around 40-80 pips from only two major movements, and I only need the price to move a small way. Sure, I've seem many pips float past me because I'm not really managing my trades (I'm just taking a quick and very easy 10 pip profit), but the setups appear often enough to get well over my daily target of 20 pips.

Just a note for anyone out there... I've found my record has been nearly bullet proof since changing the application of the indicators from 'close' to 'open'. It basically forces you to wait for the 'step' to the next candle, and doesn't allow the RSI of CCI to start to look bad from a simple whipsaw. Couple that with really a small TP and you may find your win % shoot up, like mine has.

-Benjimang

[shaun365]

Maurizio,

I'm totally diggin' this thread! Having reviewed this system on the 15min for the last week alone, there was a killing to be made! Leave it to me to come out on the negative end of my trades though haha! Hope to turn that around soon.

I did have a question about your stochs though. You use both fast and slow but what are the settings? I've seen you mention 14,3,3 for the slow and 14,3 for fast but some of your jpegs show both the slow and fast stochs as 14,3 (how you manage only 2 parameters for slow stochs I'm still trying to figure out :P). So the question is what exactly are your stochs set at?

Also, I think in post 34(ish?) you mentioned using MACD. Are you still using that or are you just using the stochs and CCI (and maybe bollinger in the appropriate TF). Thanks!!

-Shaun

ps I hear this gbp/jpy really moves in August. I'm looking forward to making some pips!

[james231287]

Thanks for your response maurizio, in answer to the question below, i think slow stochs have the parameters 8,3,3 and the fast stochs 8,3,1? i hope im right or i have been following this system incorrectly lol
regards to everyone,
Jamesd

[pipstudent]

So what other pairs are working well for this system?

[Benjimang]

I like the major JPY crosses, and also the CHF crosses. CHF/JPY is too wild though. I'll trade the GBP / JPY or CHF on the daily, but tend to stick to EUR/JPY (CHF) or USD/JPY (CHF) on smaller timefrimes because my TP's are lower, so it helps to have a smaller spread.


There seems to be some sweet setups about to form on the daily if anyone is watching.

-Benjimang

[pipstudent]

Thanks,

Il keep an eye on the daily...

Zak

[Benjimang]

Yup, do keep an eye on the daily, but for best results, time your entry on the 4h or 1h charts. When you get a few timeframes all lining up the same way, you have a pretty powerful signal.

[pipstudent]

Hows everyone doing with this system?

I am looking forward to trading on it, due to its very mechanical nature.

Does anyone take in account any big news reports, or on the larger time frames do they not affect this system?

Thanks

Zak