Ema Step System.

[maurizio77]

cryten, thanks for the warm welcome back.

I would say to lock in whatever you have by 11.
There is no need to take unnecesary risks, if you could have made 150 pips but you only made 45, who cares? You are still up, the trick is to compound your intrest, little by little if that is the case...until eventually just 5 or 10 pips a day will be more than sufficient for you to make a nice living on....thats my plan.

Of course, if you want to experiment as it's a demo account, you can set your stop and go checkit again as soon as you get home.......this means alot more profit but with more risk.

Personally, i would trade as if you would with your own money.
Get into the habit of holding onto what you have and not regretting what you have missed

[maurizio77]

jimocean, yes this still works for me.

I am an active trader with a real account.

I regularly make money from this system.

[Benjimang]

Hi Maurizio,

I've been using this system on demo for a couple of weeks now with some decent success, so a thank you to you for that. Your last post regarding your thoughts through your recent trades was a brilliant post, but you seem not to have mentioned RSI at all. Is there any weighting that you give your indicators and oscillators, or do you use them all with discretion to try to understand market sentiment?

Cheers,
Benjimang.

[maurizio77]

Hi benjimang,

Thanks for the kind words. Glad you have had sucess, this system really does work when you get it fluid in your head.

OK, RSI, why didn't i mention it. To be totally honest, it was beginning to throw me off a bit. I like it as an indicator, but find it gives off false signals more than the others i use, so i tend to just use this in situations when i may need extra confirmation DURING my trade, if it is heading down, and approching 50, if it drops below i'll hang onto the trade, if it bounces off i will think about exiting. that's all i really use it for these days as i find CCI far more reliable

I don't particularly favour any of the idicators that i use. It's more like what is appropriate for the job at the time. My indicators are my tools, each has their own job to help contribute to the end product..a profitable trade.

Much like a carpenter would use a hammer to bang things, a saw to cut and a bubble-level to make sure everything is straight...end product a nice cabinet.

I hope this helps.

[dobro]

Hey Maurizio 77 - can I trade your system during NY times? I know you use London's but that won't work for me so I am wondering if 4pm EDT would work for the daily close candle. I suspect that using one hr, 4 hr charts would work ok during the morning and early afternoon. If you have answered this in a previous post just say so and I will scroll the pages for the answer. Thanks for your work and system

[maurizio77]

Hi Dobro,

Yes you can do this in the NY session, i would say to stick to the daily, 4 hour and, at a stretch the 30min charts.

In my opinion the daily is best

[babyfx]

Hi Maurizio77,

I have been following this tread for some time. I am not trading the GBP/JPY but rather trading the GBP/USD. It seems that this system works fine with other currencies beside GBP/JPY.

The best part about this system is, LESS STRESS trading the forex. I normally use Daily chart. I try to use other time frame but it gives me nervous and not much pip compared to Daily.

I will try to use your system with EUR/USD and USD/CHF by July, and will keep the result posted here.

Thanks for the effort of sharing this wonderful system.

In pursuit for better forex trading

[maymurph]

Hello mauri,
Looks like our candles step at different times because we are on different time zones.I live in GMT+1 time zone.The daily candle on my platform(marketiva) or is it just my platform steps around 10 p:m my time,that is 5 p:m EST.
Another guy in a previous post said the candle steps at 5 a:m EST.YOU said yours is 5 a:m GMT.
I think this variation will cause us to have different results with this system.
What do you think?
We may have to plan and monitor the system differently.

[Benjimang]

I know exactly what you mean maymurph. I was trading with InterBankFX (GMT) and my results were ok but not great. I figured out what was going on and now I still use InterbankFX with MT4 but I also have a demo FXCM account running to see what happens on an EDT based charting package. Since I've been watching an EDT based EMA Step system, I've been more profitable.

I think this has something to do with the price action that occurs during the Asian session, given that GBP/JPY is an 'Asian' pair. Perhaps this system will work differently on different time zones for different pairs! That could get confusing...

[cryten]

Just checked vtrader new daily steps at 10pm GMT. Went in on two trades last night both in profit now. Just need to figure out how to follow the pips and place the right stops.