Amazing Crossover System - 100+ pips per day!

[ForexPhantom]

this system is as good as Cowabunga system. I will use this system to gain 10 pips a day. thank you.

Hi there,

Thanks for the compliment.

I have created a new, similar system which uses the Daily Charts. It has a much greater profit potential. Plus you don’t have to spend all day in front of the charts.

You can find it in the free forex trading systems page.

Take care,

-ForexPhantom-

[system]

ForexPhantom: Very nice!!! I’ve been trading with a cross over method similar to what you mentioned. Never with the RSI. I had been using the Demarker and Williams %R. Made two trades this morning using the 50 mark point on the RSI. I think this baby may have some potential!

Thanks for sharing!

[SanMiguel]

If you want to get REALLY advanced, then you can read “The Master Swing Trader” by Alan Farley.

Very difficult book to get through and heavily reliant on indicators.

[SanMiguel]

Hello,

Yes, during the NFP I have heard that this is particularly effective.

The theory is that you set a buy order and a sell order 15 pips away from the current price. It’s best to use the “One cancels the other” function.

The market will swing one way or the other depending on the news, and whichever way it goes you will jump in with them automatically! Then you just manually cancel the other order (or not if you have the OCO function).

I’ve never done this but heard it works.

When I get a decent amount of actual money invested in Forex, I will do this with a large lot size. The market can swing many pips in a matter of minutes after a new release. Imagine throwing a 10 Lot on both sides and catching a 50 pip move! That would be an easy $5,000 bucks in an hour!

A lot of people might scoff at that but its very possible. The market is gonna move one way or the other during a news release. 99% of the time it will move quite a bit. Whipsaws are a possibility, certainly. But this is an interesting possibility to keep in mind either way.

-ForexPhantom-

or an easy loss when it whipsaws and doesn’t hit your TP

[SanMiguel]

So, how long have you been running this system? Have you considered adding bollinger bands to confirm oversold and overbought levels?
Any EAs to backtest this strategy that you know of?
I’m a bit weary to use crossover systems as the biggest problems are:

• whipsaws
• ranging periods where multiple buy and sell signals are given (RSI filters some of that but it will give at least 1 signal which might be false)
• large drawdowns because entry is not ideal as the crossover lags a bit

…even though price may often move in the indicated direction.

[system]

I’m experimenting, and quite frankly this is pretty awesome. For now I’m just analyzing, from my perspective, everytime the yellow EMA’s crossing the red EMA, a change in trend is occuring right after a couple of candlesticks.

Awsome!

[SanMiguel]

I’m experimenting, and quite frankly this is pretty awesome. For now I’m just analyzing, from my perspective, everytime the yellow EMA’s crossing the red EMA, a change in trend is occuring right after a couple of candlesticks.

Awsome!

Remember that the moving average moves on you so in hindsight you can see the exact cross, in real time, the cross will happen a few candles later giving you a lagged signal.
I am interested in hearing about the whipsaws as that is the 1 factor most at risk with moving average methods. First I look back through the charts and look for all the periods where price doesn’t move much and see all the false signals given. The RSI filters this to some extent but with only a period of 10, it is also subject to spiky movement.
?

WHat do you do if a crossover occurs but the RSI doesn’t crossover until 3 or 4 candles later, do you still take the trade or do you only take the trade if the RSI shows an entry at the exact time the MAs cross?

[testertje]

Hey All,

I’ve been following this post for some time and still have a question.

Do you people wait for the candle to close when you see EMA crossing? Or do you jump in right a way when EMA crosses?
Considering RSI is crossing 50 up/down and MACD is also moving the right way.

In this screenshot RSI has past 50, MACD is also moving up. The EMA’s have crossed two times within this candle. Should you enter or wait for the candle to close?

Greetings Testertje

[gugugaga]

Dear Sir.,
I am a newbie,your system is so wonderfull,couldn’t thank you enough,I am eating healthy greeney pips at eur/jpy now by following your system:),thank you very much

[nickobuse]

Hi,

The system look good and very simple, I’m new in Fx trading, please what is the input of your MACD setting. Thanks, hoping to receiving your reply

Hello everyone,

This trade occurred earlier this morning and would have bagged you some serious pips had you spotted it.

All the stars lined up on this one, as the EMA’s crossed, RSI crossed and MACD crossed…all in-sync.

Total movement in pips was 100+ downwards on the EUR/JPY at about 8:45 this morning.

-ForexPhantom-

[EL_TORO]

Yep, pretty much wot I use. If you wanna be more agressive it can be used in lower time frames, But take care out of hours as the RSI can be a lying toad during these periods.

[EL_TORO]

Sorry, also it “koalas” nicely with a longer MA, say about 30.

[motoazabu]

I wonder if anybody made any EA out of this.

[poca]

Seems like it would be easy to.

[mykone]

Hello forum. I was wondering if anybody has use this system on any lower time-frame. I am starting with a low deposit, and 1hr might swing too much and give me a margin call, even with a mini lot.

[kneppies]

Just wondering with this system if the 5EMA crosses the 10 Ema as it has done with the EUR/USD a couple of hours ago, the RSI is above 50 which is all the signals for a long trade do you take the trade against the main trend

[Mangawill]

Hi Forexphantom.

Is is possible if you could attach or send me by e-mail the system that you use to make 100 pips or more a day please?

[nolyab]

I have to agree with John about those whipsaws. Trading during the News is always a very VOLATILE experience, as well as trading on Friday!

The beauty of this system is in its simplicity. It is deceptively simple, yet the signals are strong. I don’t think whipsaws should pose much of a problem during normal trading times.

BUT, if pivot points help you out, by all means USE THEM! I personally don’t know much about pivot points, so I’m sort of lacking on any discussion about them.

I did add one other indicator, which I’ll describe in my next post.

Thanks for your interest in the system!!

-ForexPhantom-

Thanks to ForexPhantom for sharing the signal.

Regarding the whipsaw, i suggest they can also use the SMA 21 APPLY TO MEDIAN PRICE. just to confirm the signal. this is a very strong signal for positioning.

thanks

nolyab

[muzakram]

Hi,
Anyone build a VT trading system for this?

[nmani2010]

Hi,
Is anyone using this system? What are the success odds for this system? I’m not expecting a 100% system, but a system with a good success rate. I’m using OANDA, so please help me with RSI 10 for this system, in OANDA we have for RSI as below:

Period(No. of ticks)
Overbought threshold (by default it is 70)
Oversold Threshold(by default it is 30)

So how do I set the RSI required for this system in OANDA, anyone please help.

Thanks
Mani