Ema Step System.

[silverhal]

Hi,
I am just brand new to FX and just finished the babypips school . I like this EMA system but couldn't get to set the EMA like you guys discussed it here.

I am currently trading demo on the MIG platform. So any help in detail on setting EMA will be greatly appreciated.

Silverhalo thank you once again.

[Pipcrawler]

Originally Posted by silverhal

Hi,
I am just brand new to FX and just finished the babypips school . I like this EMA system but couldn't get to set the EMA like you guys discussed it here.

I am currently trading demo on the MIG platform. So any help in detail on setting EMA will be greatly appreciated.

Silverhalo thank you once again.

You should contact MIG... Each broker's charting package has different methods for adjusting indicator settings... good luck!

[rocketmanxl]

This is my first post here. I tried this system. Took a while to work everything out. I am using Metatrader to track and Forextrader to trade.

This system has changed everything! I use a day chart for trend direction and either a 15 or 30 minute chart to execute.

This system has made trading so much easier. There have been losses, but the wins have been much greater.

Thank you for sharing this. Thank you so much.

[silverhal]

Hi,

I m trying to set the EMA 1 and 5 according to recommendation. On my MIG trading platform: PERIOD : 1 for ema1 5 for ema5, SHIFT: 0; MA method: Exponential;
My question is: what about the APPLY TO box??? it gives me choices such as OPEN, HI, LO, CLOSE, MEDIAN PRICE (HL/2), TYPICAL PRICE (HLC/3)....
So which one I needed to pick for this box.

Thanks in advance.

[Benjimang]

Mate, I've got mine set to open. That way it forces you to wait for the opening of the new candle to recognise an EMA cross. Truth be told, you probably only need an EMA5 and wait till a new candle opens on the other side it. But I still put the EMA1 in there just to make it all a bit more visual... faster to see exactly what's going ont I suppose.

-Benjimang

[silverhal]

Originally Posted by Benjimang

Mate, I've got mine set to open. That way it forces you to wait for the opening of the new candle to recognise an EMA cross. Truth be told, you probably only need an EMA5 and wait till a new candle opens on the other side it. But I still put the EMA1 in there just to make it all a bit more visual... faster to see exactly what's going ont I suppose.

-Benjimang

Thanks for the help. Another question if you don't mind: I am still not sure of what to do after a crosses candle. Below is Mauizio instruction:

" will wait for the Ema's to cross and for the timeframe on that "cross-candle" to have almost come to an end. Once i have seen the cross, i am looking to enter as soon as the timeframe makes the step to the next candle, i will enter in the direction of the Ema cross."

I am still puzzle about exactly what he's trying to do?

Again your help is greatly appreciated.

[Benjimang]

If you set the EMA1 to close, the end of the line will move up and down with the price at the current tick. So, you have to wait till near the end of the candle to see if the EMA is still crossed, then you enter as soon as the new candle forms.

If you set yur EMA's to open, the end of the line stays put at the opening price for the candle. So, you just check your chart at the start of the new candle. IF the EMAs are crossed, enter.

-Benjimang

[silverhal]

Originally Posted by Benjimang

If you set the EMA1 to close, the end of the line will move up and down with the price at the current tick. So, you have to wait till near the end of the candle to see if the EMA is still crossed, then you enter as soon as the new candle forms.

If you set yur EMA's to open, the end of the line stays put at the opening price for the candle. So, you just check your chart at the start of the new candle. IF the EMAs are crossed, enter.

-Benjimang

I entered 2 trades with EURUSD and were successful. Entered one trade with GBPPY and made some pips there too. So far so good for a beginner with a demo account for 4 days.

I really appreciated for all the help and patience wth a slow learner.

[silverhal]

Originally Posted by maurizio77

Hi Mate,

I'm not reluctant to use higher timeframes.

It is simply that the correct criteria for an entry on the Daily hasn't been met for a while..the stochs are bottomed out all over the place, that simply can't last forever, so when the time is right i will be in.

At the moment the stochs look unsteady, CCI is camping in the -100 region, MACD, RSI and just about every other indicator are all a bit contradictory.

The price hasn't been this jumbled up since March when price on GBP/JPY dropped 2000 pips from Januarys high. Right now we have already dropped 1500 pips from the high on about July 20th, i can see the price of this pair to continue to drop until the 234.30 area, should it break that, i can see it plummeting all the way to 230.00

As for trades today, pretty much the same as yesterday. On the 30Min, 15M and even the 5M today.

Gonna see if i can pick a few 5-pippers this evening.

At home tomorrow, Friday and Monday so will see what i can do when i don't have to worry about my work...am looking forward to dedicating three complete days to Forex.

Will of course let ya know how i get on

Hi
Thanx for the system. I just a newbie but had been following the system and having good success.

I would like to thank you and everyone here on the forum. My request is that everyone keep this forum alive by post more of your experiences.

Best Regards,
Silverhalo

[maurizio77]

Hey peeps :0)

This thread isn't dead.

It may seem that way if I myself or others haven't posted for a while, but please bear in mind most of us work in a regular job and have a girlfriend that demands regular time from us, so somethings have to give.

So......what have i been doing?


Well, alot of people have had success with this (thats GREAT by the way) but some of the messages i have had makes it clear that some find it difficult working out entries, exits and take profits.

So, deep below the streets of London in my "Batcave" i have been trying to make things a little easier for everyone....especially the newbies.

So i set myself a goal of streamlining the system.

I wanted to use less indicators and catch the bigger moves.

Those who use this system on a regular basis may already have noticed what i am about to post.....But i want to do it anyway as i think it would be a good start to anyone just getting into Forex.

This system uses three indicators aside from the EMA's.

Slow stochs....set at: 18, 3 ,3.
CCI set at: 25.
Bollinger bands set at: standard, 14, 2.0.


Now, the main entry is still the EMA cross. But what i am trying to achieve is a more reliable entry, exit and take profit stategy.

It may take a bit of practise and getting used to, but i think it is worth it in the end as i have has alot of joy with this in the last few weeks of testing and real-money trading.

For those new to this thread, i am not the kind of bloke to post an "idea" or "theory"..if i have not tried it, tested it and made money from it, i simply won't post it....or what i say just wouldn't be worth a ****.

So, have a look at my next post to see what i have come up with. :0)