OK, some of you seem to have got this, others seem to be losing money.
I know it feels bad losing money, but please say it on the thread instead of on PM.
Whatever your doing wrong, others will be too.
I have no objections to anyone saying they’re not getting it right…it helps me help others.
To the guys who have got it, keep going, follow the trends, and if you get a decent trend, squeeze it for everything it’s got. Make the best of it…and NO…don’t feel ya have to stop if things are going good!
I’ve been demo-ing your system for a couple of days now. I’m still getting used to it, but I’ve made about 100 pips today alone, mostly on the 5 and 15 minute charts.
I noticed there was an EMA cross of the EUR/JPY on the daily chart last night, and the other indicators looked good, so I went in at the new candle today. I’m a bit worried though, because you said it’s a bad idea to trade Mondays.
IHello everybody I really appreciate your sharing the EMA Step system withus.I know Im alittle late in asking But pls could I have the E-book too.My email is
THanks A lot in advance.
Hello, could someone please help me with the settings for IBFX, I have the ebook but I am getting confused with the settings. eg bolinger band settings, expotantial settings?
Well, I should have listened to my gut feeling. The EMAs recrossed on the EUR/JPY daily, so I decided to get out of the position instead of waiting for it to hit my stop. I lost over 100 pips though, which was enough to wipe out all of the profits I made yesterday.
I’m still just on a demo account, but when I go live I think I should stay away from the daily charts, as I really don’t have enough capital to manage the risk associated with a 100+ pip stop loss. Anyway, I had good luck on the smaller timeframes.
This system appears very profitable and reliable so far. Thanks so much for sharing!
My question is about this notion of “stepping” to higher TF’s and placing orders consecutively so that you are eventually never playing with any of your own capital.
I understand the theory behind this, but I’m having trouble with the specifics. I read your E-book (very cool) and I would definitely classify myself as a conservative trader. My goal is around 20 pips per day.
Let’s say I enter a trade during the 5 min chart. Things are going in my favor. I stroll over to the 15 minute chart, and another trade is setting up. Regarding the first lot that I bought…what is my T/P?
If I place another trade during the 15 min chart, what should my T/P be there?
I’m having fun with the new system so far though. Thx.
Maybe it’s the markets or maybe just me, but I’ve had a lousy couple of days with this system. I thought I had the gist of it, but I seem to be missing something. I believe in your system though, so I’m going to keep at it.
What I’ve been finding lately is that by the time the EMAs cross and a new candle opens, the movement is already finished and starts heading back down. Once I’m down 20 pips or so, I just get out rather than waiting for it to hit my stop.
Hey Maurizio, what are the correct settings for the Bollinger Bands? I noticed in the eBook it says 14 and 3, but some of the examples show 14 and 2. It seems to make quite a difference.
Thanks Maurizo and the rest of the guys in this thread. I’ve taken time for the past 3 days to go through this thread.
I’m a newbie using fxpro metatrader demo but I find that it has some limitations as far as this system is concerned and am about making a switch to try out oanda and see how it goes.
Can anyone advise the advantage oanda platform has over mt4?
Secondly, am in GMT+1 timezone. what is the best trading time for me as regards this system?
Gooday pls I just want to ask if there’s any difference in the ebook we have and updated improvements in the Ema Step system we’ve been discusing in this forum thanks.
According to the eBook I’m to close one lot once I hit the first profit target (middle Bollinger), but I’m not sure how to do that with Oanda. The only option I see is to close the entire position.
I’m using 10K lots… my current position is 20K and I want to sell off 10K… if that helps.
To do this we need to do a simple equation; Capital / 50 = 2%
$5,000 / 50 = $100
This $100 must now be divided up into your stop-loss.
So if your stop-loss is 50 then $100 / 50 = 2
So you would enter your trade with $2 per pip.
(Presuming you are entering with one full lot)
(Were you going to enter into three lots it would be 66c per lot)
Using this method, you will never lose more than 2% of your Capital in any one trade�.remember the 1st rule�� DEFEND YOUR CAPITAL!
Hi Maurizio77
I was wondering if you, or anyone else who would like to jump in, could clarify my understanding of the money management set-up above.
If you were to enter the trade at a full lot [100,000], the per pip value would be closer to $15.65. So I am assuming that the lot is an adjusted one to reflect $2.00 per pip. This would make the new lot around the $14,000 mark.
Now, I arrived at that figure by manually fiddling with the lot size in Oanda’s transaction ticket until I arrived at the right number. Not very practical if one’s in a hurry to place a trade.
So if you, or some other kind soul could help out a mathematically dyslexic figure out the formula to do this, I would be grateful. I want to set up a spreadsheet that’ll do the trick by entering the s/l and entry $ figures.
As I understand it, there are three standard lot sizes… 1K (micro lot), 10K (mini lot), and 100K (standard lot). You are obviously thinking of 100K which is the standard for a regular account. I believe Maurizio is referring to 10K lot sizes.
So, at $2 per pip, that would be two mini-lots, or 20,000 units.
Let’s say your stop loss was something random like 85 pips…
100 / 85 = 1.1764 You would therefore enter a lot of 11,764
That’s if your broker allows you to trade in fractional lot sizes (I think Oanda does but I’ve never tried). For simplicity I would just round it to the nearest 10,000 or adjust your stop a bit tighter to compensate for the difference.
Your lot size should reflect how much capital you have. If you only have $5000 of capital, then obviously you don’t want to be trading at $20 per pip, because a relatively small movement could get you a margin call. A few bad trades and you’d blow your entire account. Alternately, if you used 10K lots, you could have 10 times as many bad trades before losing your account.
Hope that makes sense, I’m not the greatest at explaining things.
