hello
How would you handle a trade where the RSI crosses the 50 first and the MA’s cross over about 5-30 minutes later. meaning by the time the 5 crosses the 10, the rsi is already at 55 or close to 60.
or do you have to wait for both the RSI and EMA’s to cross over at pretty much the same time?
Hello everyone.
There has been mention of the ADX indicator for use with this system. What settings are used for this please. Standard is period 14, is this ok.
Thanks,
Ed
Hi Just came across this forum and seen this testimonials for this strategy. However I am not sure which one Phantom is using so can you please repost the strategy you are using as I think it has got lost in the replies.
thanks
Hi Ed,
Maybe it would be a good idea to read through the whole post, it’s all there.
We are using ADX(10) applied to Close, but feel free to experiment with it. Any system can be made better.
Happy trading,
Marius
please report ther strategy setup you are using .
thanks
Hello Guys,
I feel like I am cheating by watching this thread, which I've been doing for a few days now, and not contributing anything. But being as new to the game as I am I don't think I can round up any insight to give, thus far that is.
Anyhoo I had a question which was sparked by Mr. starter of the thread here “ForexPhantom”, great job so far Phantom and other guys who have given insight. What would be considered getting in too late? I know we all have different “feelings” about what that could be but lets consider this, we have official “text book” if you will, entries on the long and short. If there could be an official “text book” sign not to jump in because one of those potential positions have progressed beyond a respectable point, what would it be?
Edit: I may as well ask this in the same post, so are most of you utilizing fibonacci retracements and extensions?
Eagerly awaiting responses,
JAR
Is there anyone out there who can repost the strategy because with all the posts I am a bit confused where to start.
thanks
hi nguy,
the strategy should be on the last page of this thread,just go through the pages and u will find it
i did that but i am not sure if it is ema, macd and rsi or ema and macd ?
Also it shows entry but not exit . what is the criteria for exiting a trade ?
Hi,
Don’t have time right now to provide a detailed description, but the strategy consists of: 5EMA-10EMA applied to Close, RSI 10 applied to Median Price, ADX 10 applied to Close and MACD (5,9,4) applied to Median Price.
This should give you the entry, now about the exit… I just found out that not the entry is the key to success, but the exit. There is no clear exit strategy yet, use a trailing stop, or keep your eyes on the positions and use your best judgment.
Happy trading,
Marius
how does such a simple system gets complicated with so many indicators…? what are we looking for on the MACD and ADX 10?
Hi yudelito.
MACD heading up and crossing above 0 is a buy signal, heading down and crossing below 0 is a sell signal.
ADX shows the strength of a trend (usually it is better to stay out when ADX goes below 20).
The more indicators show a direction, the more valid the signal. Of course we can have valid signals even after (for example) the RSI cross occurs after the EMA cross, or the other way around. But when they all concur, it is the best situation.
Any indicator added to a system avoids some of the fake signals, that is why we added some more starting from the system on the first page. Of course one can get to a point where, if too many indicators and rules are added, ALL the signals are filtered out (or most of them), and then we don’t have a system anymore. 
Feel free to experiment with the strategy (maybe add other indicators, or change the parameters). Also let’s try and figure out the best exit strategy for this. Any thoughts?
If you have more questions, just shoot.
Happy trading,
Marius
Im curious to know as to which platform some of you are using. Mt4 is so much better to use but i have a practice account with oanda. It doesnt seem that user friendly. Anyone of you use oandas platform for graphs, if so how is this system working with that.
I lost my first trade on this system, :( It all was perfect, I think I am setting my SL way to short, I have to let the system run for a while, oh well, it would happen one way or another, so far 9 trades cool and one down. I can live with that.
Hi,
@rtiger: When it comes to charts, Oanda sucks big time. MT4 rules!
@slash: What was your S/L? What exactly was your losing trade?
Happy trading,
Marius
Hi !
I have watched closely this thread from the begining. And I find the system really good for now.
My version of the system:
Exept the standart 10 and 5 EMAs and the RSI , I also use ADX 10 and I have add slow stochastic 9,3,3 ( I use it only to stay out when is in overbought for long position ; and in oversold for shorts). Concerning MACD I don’t think is so necessary cause it give identical signals with the EMAs .
Concerning the problem with the exit firstly I tried to move the S/L manualy after every point of PSAR 0,02; 0,02; 0,2 , but this was really stupid idea.So after some experimentation I set a S/L 35-50pips … when my position is + 50-60pips I have placed an order to open a Trailing Stop of 20-25pips (set to be moved by change of 1pip). For now everything is OK ,but sometimes I feel that Trailing Stop wasn’t so good idea…You know what I mean.
Stanchev
someone please offer an insight on this
i find a lot of setups where i’m about to go short for example, RSI cross down through 50 but by the the time the ema cross over follows suit, the RSI is already down at almost 40.
I had SL for 40 pips, just two seconds ago, if I had my SL down to at least 50, I would had hit the TP. On the other hand, I only use the first three indicators Phamton started with. I added few of the others and then the chart it so complicated I canot even focus on the market moves, the first three indicators had me on a 100% winning trail until I shortened the SL down to 40 and I got cauth short. So far with the original and very simple three indicators I am more than happy, but everyone have a different level of comfort.
I lost my trade on the GBP CHF. about one hour ago.