This is my first post here on BP.
Thank you so much for sharing your system.
I have read through the whole thread.
As this thread now contains a large number of posts, and since your system has been improved since you first started this thread, it would be very useful if you could prepare an EMA System Trade Update. (the whole caboodle as you mentioned).
I am very grateful to you for sharing your system and to everybody else that have contributed to make the system even better, of for explaining issues.
I think an ebook or pdf document would be great, get everything in an organized way which would help newbies to the thread and if it has a table of contents then I could direct someone to the Timeshare thread accurately!! Thanks M and all for the great input that this thread has, d.
Iāve read this entire thread twice over the past 3 days, making notes and generating charts to āeyeballā the set ups and indicators.
Lots of great contributions in this thread and an Ebook is a fantastic idea to consolidate them.
Brand new to BabyPips and Forex, but looking forward to slowly changing that as I demo the EMA STEP for a few months into 2009 and finally pull the trigger live.
I donāt pretend to be the poster boy for this strategy but after 10 various trades this morning I was up a whole +3. I took a nap and tried again in the 3-4pm NY session and got +11 so for the day I am +14 and worn out. Have to hone my skills for better setups that yield more pips and I see where I did miss a couple of good ones on the 1H TF so I know they are there. Happy trading all, d.
An Ebook would be interesting, yesterday I pulled in 26 pips on various pairs using the ema crosses, although it felt like pulling teeth (total 52 for the day in combination with other methods), some days it comes easy other days hard. I use this method in conjunction with Fibs and counting the waves, I found that using waves allows me to make sounder decisions. Iāve tweaked this to fit my personality and it works great. I trade GPB/USD, EUR/USD, AUD/USD, USD/JPY
Guys, glad to hear you have had some success, but i just want to ask, since yesterday was a trending day for so many pairsā¦you wernāt entering AGAINST the trend were you?
Iām not preaching, but ya know thatās the cardinal sin in Trading!
Somewhere in this thread, again it will be in the EBook (Which is coming along nicely by the way) i say that when price is trending and there are no clear entries in the direction of the movement, that you go down timeframes until you can find a suitable entry point.
This is the same as timesharing - only youāre doing it with a trend instead of a range.
The EMA STEP can be used in ANY market conditions, you just need to alter the timeframes - thatās all.
Here we have the same price action on three different timeframes.
The first pic is 30Min - Clearly showing a downtrend - but no entries.
The second pic is 15min - 1 Entry
The third pic is 5 Min - Count how many entries we haveā¦
All we did was use the system on a lower timeframe to get in on the downtrend.
I normally trade the 5min/15min time frames, first looking at hourly and daily charts. However, that is not to say I donāt trade on the counter trend, but try to stay with the main trend, today Iām up once again, however lost 10 pips when I entered a buy and meanāt to sell, dam it crossed and moved in the right direction for 9 pips right off the bat, I couldnāt figure out why I was suddenly down, oops! Big goof up :D, I immediately closed that trade.
Back to the studying board for me! just on demo yet, but started with 5 k account and had it to 7k - (Now, I am not sticking to the method, still just trying to understand the platform so itās ālike driving a carā ) but I thought I had several valid entries with this system, only to have lost on all but 1 occassion - I did neglect to notice any trend, until later. ( oh and maybe only 1 was a REAL valid entry.) just when you think you know something- youāre proven wrong.
Nice to hear the ebook is coming along nicely, I for one will NEED it. Thanks again for this thread - I am hoping once I get the hang of it, it will feel more natural. (I wanted to say itāll be easy, but I know that isnāt the case)
On a side note, I did just open a FXCM micro account - they gave me $25 free. anyone else done this before? Iām planning on using this for my āreal demoā sort of a step up from demo, using real money, just not mine. although I donāt expect much, itās only $25 and I think you have to go with a minimum of .10 a pip ??
So after spending the past week pouring over the thread, I was anxiously awaiting the opportunity to get into the market today.
I was so proud of my self for resisting the temptation to try and force something yesterday, being Monday.
And what did I do today? After looking at time frame after time frame, on pair after pair, my eyes still werenāt seeing the set up that I needed to make the plunge.
So like a dumb *ss, I did it anyway, trying to shove myself into cross candles and zones too small to allow for any real movement.
Down about $40 on my $3000 demo account.
Have to keep reminding myself, no matter how much I like or think I understand this system, I canāt make it fit into trades that I shouldnāt be taking in the first place.
Hello everyone this is my first post in this topic. Iāve been reading for a while now and today i did my first test on my live account. I am trading for several years now but iām just having succes since last september.
To trade i just used the emaās nothing else except support and resistance!
I only used it on 15m tmf and i can tell you that it works but you all know that allready!
Here are my results
The last several months iāve trading only with support and resistance. My goal is to grab just 5 pips every hour. Iām willing to use this way of trading for bigger runs on the daily.
I for one am intensely looking forward to the ebook. I have been browsing this forum (under a different non pippy name) for months and especially this thread trying to figure out if I wanted to commit myself to learn the ālanguageā of FX trading. This thread has been helpful to me as I have been weighing my decision to invest my time in this and will be one of the first systems I attempt to learn after I carefully work myself through the preliminaries (pip school) again.
So any way thanks for sharing this system and I really look forward to the ebook which can help make sense out of this loooooooooong thread.
I grabbed +16 pips this morning. I am basically doing a scalp off the 30M TF, grabbing 5-6-7-8 pips at a time on Oanda. I note the trend on the 3H & 1H, then watch the 30M for the trade IN THE DIRECTION OF THE TREND ONLY and basically using the cross only. If one thinks in terms of strategy rather than āsystemā then altering the strategy to fit oneās personal style is easy. And yes I have missed or not stayed in some longer trades but if I cash out +10 pips then they are mine and not the marketās. Just the way I trade and maybe not for everyone.
I really agree with your statement, Iāve become a more successful trader viewing what Iāve learned as an overall strategy rather then relaying on one or a system to bring me profits, using the overall gist of the ema crosses and other information to view the big picture really has helped me. Hell thatās after 18 months of trading the eminis, blowing up 1 major account and two minor accounts in FOREX, now seeing light at the end of the tunnel because I approach the market with a strategy/plan each day. Although Kudos to the EMA crosses, now to beat the greed monster
Hang in there Maurizio; maybe with the Ebook I will trade this strategy the way it is suppose to be traded. And take this coming weekend off and enjoy. d.
