Hello All,
I’m testing this method/system or whatever you want to call it. Need help and suggestions. simply put you only use one indicator/moving average. 21 EMA with the 5M chart. buy/sell when the candle closes above/below the moving average. not sure how to place take profits or SL’s. any suggestions see attached sorry the moving average disappeared from the gif file.
Hi, Pippuller
What markets are you trading?
D
any currency pairs. on the 5 minute time frame.
If you try on daily 20 ema ( or 21 ema ) and candle close below or above ema for sell or buy you will se interested results…not every day trade, but when is signal then you can go on trade…but if you know PA and S/R…you will have simply method… ema + PA + S/R;)
even you try your system on daily or 4h you will get more simply trade and you will see clearly SL and TP…
Crashgtti…I want the method to be as simple as possible, I used to throw a ton of indicators on my charts, i tried them all… ADX RSI macd Sto you name it…came to the conclusion a simple moving average on a 5 minute is the simplest way to pick up 10 to 20 pips a day. I used it today and was successful for 20 pips…if i was a bit patient I could have squeezed another 15.
but thanks for your input. Cheers.
if you read i write only about ema…like you…PA: price action, S/R: support /resistance (not indicator) is that you have clean chart and looking for sell and buy option…i trade that way only and you have the same method…
good luck
crashgtti…i apologize for my ignorance…I didn’t understand what you meant by PA and S/R…I wrongly assumed they were indicators LOL at my self. We are on the same page…I have the Steve Nison Forex DVD’s they are awesome he talks about Support becomes resistance, and resistance becomes support…and it is very true on the higher time frame.
NP…look, if you like learn more you must look on google for: Chris Capre - @2ndSkiesForex, Steve Nison, Nial Fuller, Johnathon Fox - ForexSchoolOnline ( He have post here: 301 Moved Permanently )
They all talk about PA and S/R…and all they have video on youtube…you can watch it…and learn…but practice for skill
I only show you what i was looking…
good luck
crashgtti
thanks for the hints and leads…I heard of Nial and Steve but not the rest. do you know if one mini lot .10 per $100 of account size is too much leverage? what is best practice in your opinion. Thanks.
for me is 2 - max 5% … risk
how do i calculate the percentage…when i open a position it says I have 60% free margin…what exactly does that mean?
Hello pippuller!
If you want to learn more on how to trade only on Price Action you have to have a look on this tread
Good Luck and Good Trading
If you have 60% free margin with only one trade I think your position is huge or your leverage is pretty small.
Read money management in the baby pips school.
thank a million velho…this is very very helpful info. been watching and learning everyday. thanks
Pippuller can you please explain how you use the 21 ema
do you just buy/sell as soon as price crosses the ema, or do you wait for the candle to close?
what pairs are you having the most success with?
so you consistently make 15 - 20 pips every day?
christinaa…it works on anypairs…all you really need is 10 pips a day…In a choppy Market you will get a lot of false entry…and yes you do wait until the candle closes…and a candle is not a candle until it closes. also test it on the 15M. check out the video on youtube for Inner Circle Trader…someone recommended them…they are great!
ok thanks for the reply
have you worked out a SL and TP
@christinaa…not really…I guess a good way is to look for resistance and support at the higher time frame. I’m learning that right now from the inner circle trader video! pretty cool stuff…did you get a chance to check them out.
pippuller how are you trading now? what did you do to the 21 EMA system?
thanks
Hi christinaa…i was off the whole month from trading…it’s a good to take a break once in a while.
I’ve been looking at the 1H chart with the 21 EMA…looks very interesting. if you pull up the EUR/USD for example
and do a 1H and a 21ema…it looks amazing. Let me know what you think?