Ema Step System.

[VonSmeid]

Hey Maurizio, first of all I must say I am your biggest fan. Can you sign my T-shirt?

You were saying that you will be avaliable at skype. Will it happen?)

Have a good time

AK, Slovenia

[smart_trader67]

pls share some pictures pls

[newboyo]

Hi all,

Firstly - incredible site and thanks to all the contributors especially Maurizio77 and BenjaminG.

I have some newbie questions -

1. On Onada, would you please help me setup the lines at 25 and 75 for slow stochs, refer post # 171 extract given below -
Quote
Set lines up on your slow Stochs, in this case you want them set at 75 and 25....this is slightly different to the 80-20 set up from before but there is a reason for this.....it basically is more effective for a cross range of timeframes.
Unquote

2. I live in the Toronto (EDT time zone) and can only trade from 9 am onwards. Oanada say that the daily candle steps at 11 pm EDT - is it "safe" for me to start looking at the 3 hr chart to begin with?

3. Is the system workable on the EUR/USD and USD/CAD - (lower spreads for me), or do I need to trade GBP/JPY or EUR/JPY?

Much appreciate your help.

Rgds


Newboyo

[VonSmeid]

[/b]

Originally Posted by newboyo

Hi all,

Firstly - incredible site and thanks to all the contributors especially Maurizio77 and BenjaminG.

I have some newbie questions -

1. On Onada, would you please help me setup the lines at 25 and 75 for slow stochs, refer post # 171 extract given below -just write 2 horisontal trendlines. One at 75, other at 25. That is all.
Quote
Set lines up on your slow Stochs, in this case you want them set at 75 and 25....this is slightly different to the 80-20 set up from before but there is a reason for this.....it basically is more effective for a cross range of timeframes.
Unquote

2. I live in the Toronto (EDT time zone) and can only trade from 9 am onwards. Oanada say that the daily candle steps at 11 pm EDT - is it "safe" for me to start looking at the 3 hr chart to begin with?cant help you here

3. Is the system workable on the EUR/USD and USD/CAD - (lower spreads for me), or do I need to trade GBP/JPY or EUR/JPY?you should test those pairs out, but my opinion is that it wont give such result as by JPY pairs

Much appreciate your help.

Rgds


Newboyo

Can you help me also, anyone?!

I have STOP LOSS and TAKE PROFIT problems. As Maurizio said SL should be put about 10 pips above the Bolinger Band brake. So please just confirm if I am right. In a short trade I would put my Stop loss 10 pips above the high of the candle which last broke Bolinger band before cross candle appears.

Is it the same for Take profit just the oposite way?

Please explain, this is the only thing I still dont understand here.

Thank you.

AK

[Cowaboi]

...a few likely setups on the close of current 30min bar by the looks of it...but am i correct in thinking the method doesn't take trades during data releases?

[Cowaboi]

...anyone short GJ?

[VonSmeid]

I am short. Check it out

[maurizio77]

LOL Thank you VonSmeid,

I will sign your T-Shirt when you're a Millionaire ok?


I will be available at Skype most of this week.

So if you would like to run through some trades with me, you are more than welcome.

There is no charge, i will call the trades as i see them.

Hope to see you there.

[maurizio77]

Thank you newboyo,

On Oanda, you move your mouse into the same box as the Stochs, then right click, "Horizontal Trendline" then adjust it to the correct settings.

I wouldn't begin with 3Hr charts my friend, if you are starting on this system, go for 5Pips from the 30Min ...........and as your experience with the pairs grows........so up the ante.....go for 5 pips first.........make a CONSISTENT profit at each timeframe before you go up to a higher timeframe.
Don't jump in at the deep-end.........i don't mean to be Patronising..........but Forex is a Marathon, not a race.

I use this system on GBP/JPY and USD/JPY, i have heard of this system working on other timeframes, but i have not tried it myself with real money so i really can't say either way, or i would be bull****ting you.

Try it on Demo........see for yourself. :0)

[maurizio77]

OK, Stop-Loss and Take Profit.

This is really difficult for me to say this way or that to be honest.
I don't know if you are on Live or Demo, and even if i did i don't know what you are aiming for (Pips per day) or if you are in it purely for the return (Return On Interest).

Wehen i Trade i look for where i think price is likely to go, be that the middle Bollinger band and then bounce back, or to carry on.

I say to set your StopLoss at 10 Pips above/below the outer break of the BB because for me it is the easiest way to accomadate everyones style of trading this system.

What you should be doing is following the price through the timeframes, ie if you enter using the 5Min and it hits the top/bottom BB, then follow that trade on the 15Min, then the 30Min...etc.

If you need a more detailed description according to your own trading strategy then message me and i will do the best i can.

The basic plan though is to "chase" the price from one BB to the other, entering on the EMA Steps so you know the movement is genuine.

Hope this helps.

:0)