Already on it pip hunters. Entered at 0.79739. Already up for the week I’ve got my stop at 0.80050 already. Could be sitting on this for a while. Ill just be chasing it by 20 to 30 pips. If it gets hit ill wait than re enter once candles are green again and the usuall entry indicators are happy. Going good still on this strategy people. It’s very easy just relax and wait for a good signal than ride the wave. Let it run though. Usd vs jpy should be god next week I reckon just waiting. That’s proably my favourite pair too.
hey you are using a daily chart but don’t you think 50 pips in a daily isn’t that much? don’t you think you should go for more?
Hi scotty do you have this on an alert if so how do it I us FXCM can’t see a way to use 3 emas only 2?
I use around the 50 pips because when I buy in its already in my favour as such. I wait till a fair bit ahead and if a new candle starts to go green than its safe to say move the stop up. But I spose it’s a bit of a feel thing if its moving around lots than open you stop up a bit no set rule as such. I proably keep it close to start with but as the trade goes more and more in favour let the stop slacken a bit and let it run. As in if you’ve got a 20 pip profit move stop to break even. 50 pip ahead put a stop to profit 20. 100 pips ahead lock in 50 or 60. And so on. As it grows let it breath more I reckon. At the start treat as a trade you’d do over the day than if its still in your favour make if as though your trading for the week.
Not using any alerts yet no bed too just check a couple of times a day. I’m pretty relaxed with it really. I’m with axitrader as my broker and use mt4.
Oh yeah you could use your bolinger band as one than add two more hope that helps mate
Which currency pairs do you trade using this system?
Hi RUGBYDRIVE,
You can add 3 or more EMA lines to your FXCM charts as shown below. Simply right click on the chart and select “Add Indicator” from the pop up menu. From window that appears you can select EMA and enter the parameters. Do this for each EMA line you would like to add.
If you have further questions about your FXCM charts, please feel free to ask me in the Broker Aid Station.
Welcome to the forum! 
Jason
Love simple trading system like this. Thank you [B]Scottyspips[/B]!
Just thought I should do an update. I was trading this method live for about three months and managed to over double my account. I ended up blowing out my account for a very silly move cause I started to try and not use use stop losses and was using my method of just exiting when the 5ema crossed the 8. But I woke one morning and hit had turned on me that bad it basically whipped me out. Lesson learned always have a stop set up no matter what. For the past three or so months I’ve been learning price action. Price action has helped a lot in my trading. Anyway I’ve decided to start trading this method again on demo for a bit again while I trade price action on my live account. I’m going to be doing a bit of a blend of the two eventually.
Why don’t you try combining price action and this system?
That’s what I’m trying out now. See how it goes. I’ve noticed sometimes when the cross happens there will also be an engulfing candle too. Not often but a good signal. It’s all interesting and a bit of fun playing with it all.
[QUOTE=“Scottyspips;645186”]Just wondering if anyone else does this. I’ve come across lots of simple systems using moving averages so I thought I’d start using and checking on old graphs to see how well it works. So I use 5 ema 8 ema 15 ema. Simply when the 5 crosses the 15 you get into the market (buy or sell) than when the 5 hits the 8 you exit. I checked it on usd/jpy and in the last two years would have got about 3500 pips. Not bad for a easy system. So I’m demoing it to see how it goes for a bit. Just wanting to know if anyone else’s system Is this easy and has it worked out. I realise every now and than you’ll get stopped out but the rewards are huge so it out weighs them buy a lot. But you’d need to be nice and patient. Your feed back will be appreciated cheers fellow pip hunters[/QUOTE]
Do you buy when the 5 rises to touch the the 15 and sell age the 15 comes down to touch the 5?
Do you buy when the 5ema rises to touch the 15ema and sell when the 15ema falls to touch the 5ema?
Thanks
I’ve changed it to 5 ema 10 sma and 15 sma. Smoothed it out a bit. When the 5 ema passes the 15 sma you get in. Make sure there’s a good looking gap. Than when the 5 ema touches the 10 sma it’s probably time to get out.
Should look like this one I took a couple of days ago.the big bonus with one is that it has a engulfing candle at the cross too so should be a good one.
[QUOTE=“Scottyspips;683209”]Should look like this one I took a couple of days ago.the big bonus with one is that it has a engulfing candle at the cross too so should be a good one.<img src=“301 Moved Permanently”/>[/QUOTE]
Thanks for the advice , what’s an engulfing candle? Is that a small candke with large high and low tails?
Hi Scott do your candles run to 5pm est 10pm gmt?
