Ema Step System

Ive been folowing this thread and spent time reading the e book and entire thread twice and think ive got a good understanding of the system but am still strugaling with any profit. I know posts are becoming less on this thread but is anyone still interested in some sort of support group (like aa but for forex (wouldbe)traders. I contacted one about a skype group a few post back but as yet no reply, or could we use the chat room? For me it would be a case of saying this or that looks like a good set up and people would either agree and be able to get in or say no thats no good because of whatever so it would help my learning curve.

Why not use this thread? What would be important is that responders would post their trade here immediately. In other words: ā€œI just entered a buy (or sell) on such&such pr, SL isā€¦, TP isā€¦ā€ And then comments WHY you took the trade. The worse thing is to post after a trade has taken profit or a loss - thatā€™s called hindsight posting and is of little value. Real time posting will bring real time viewers in my opinion. d.

edit: I belong to a private forum (N. Fullerā€™s) and they do not allow hindsight posting, it will get deleted. Real time is the only type allowed. The value is that others will point out it isnā€™t following the rules, or why is your TP or SL where it is, what about the S or R area 30 pips away?, or, ā€œHey, good trade, I missed that oneā€, etc.

Hi Dobro,
Dont know why i didnt think of that , i will give it a go an see if i get any input,
the only thing i can think of for a seperate chat room is that if people are in the room they are probably currently trading this system so i would get comments quicker whereas people probably dip in and out of this thread .
cheers
rich100

And I have had 2nd thoughts; maybe an"EMA Live Trades" thread is a good idea. If anyone had a question regarding the strategy simply refer them to the original thread. If you had a separate thread for trades and if you had the time you could post a ā€œsee my live tradeā€ in the original to steer people over to #2 thread. Whichever, I hope it works out.

ok heres my trade entered at 14.25 pm, a bit rushed due to other stuff i had to do which i realise is not ideal but let me know what you think. daily seemed to be what i think is a range, hour was in down trend i entered on the five min on a long trade which is against the hourly trend ( this is what im not sure about as its agaoinst the rules) but there seems to be a support which has been reached

hourly now crossing, but have to go to work so may put a trailing stop and see what happens


decided to close at 07.10 for 45 pip profit, dont know if i was lucky or finally got somthing right

Thanks for the reply dobro,live thread seems a good idea.
if anybody is interested let me know otherwise i would guess either everyone ihas got it right except (?) me or everyone has given up and im on my own.
Anyway just in from work and im looking at aud/jpy daily seems in a range but has been heading down for a while but looks like a support at 81.00.
1 hour 30 min and 15 min all over sold so if i get a cross up and stoch and cci breaking through before i hit the sack i will enter long
Rich

nice one rich, thanks for taking the time to post the pictures.

iā€™ve been trying this system, icy clouds and the 30 pips a day one and they do seem to work but as yet iā€™m only getting ahead, i canā€™t spend much time on the computer so have to place the orders and then check on them at the end of the day usually, the 30 pips a day system has hit some good trades but some stop outs too, when iā€™ve been lucky enough to be on the computer at the right time when a step is forming iā€™ve had some winners but not done lots of trades so perhaps lucky as said in a post above?
iā€™ve had three margin calls this year, and this time iā€™m not really ahead by much but when i lose, i get it back the next day, so it seems like iā€™m spinning my wheels at times but with my account not growing much but iā€™m still in the game and learning all the time and the posts on here are great to continue to learn, so thanks again for posting :slight_smile:

Hi Suunto,
Im the same as you trying to fit this in between other stuff which is not the best way, any way my previpus post managed 15 pips with a trailing stop but didnt post pics as id been on nights and couldnt find the motivation. i find because my time is limited i tend to look at to many currencies in a frenzy and just confuse myself

hi
1- great thanks for maurizio for all his efforts. guys like u make the world progress
2- i will try this system
3- i will provide results from time to time

Thankyou Maurizio for all of your hard work and enthusiasm. I have read the entire thread and am trying out the strategy. It looks like a great system that really works.

I was thinking (dangerous I know), if we are looking at a larger time frame such as the 3 hour and it is in a downtrend for example, we are looking to ā€˜slip inā€™ on a retracement, the opportunities for which can be found on the smaller time frames (15 and 30min)ā€¦correct?

In addition to the cross step and other indicators, we use the Bollinger Bands to identify favourable areas of support and resistance strengthening our case. Could we also identify a ā€˜swingā€™ on the larger time frame (in this case 3 hour) in the direction of the trend and draw a Fibonacci line to identify key retracement areas. This would be yet another tool to confirm good entry points and avoid fakeouts.

What do you think? Or am I just complicating a system that already works?

Would like to thank Maurizio for starting this threadā€¦I have been trying out the system for 3 weeks now but yet to show promising resultā€¦

Probably I have been entering at the wrong timingā€¦

Can anyone please send me a copy of Maurizioā€™s eBook so that I can make it as a reference?

Thanks a million!

Hi,

Can somebody please help to enlighten me do you apply EMA (1) & EMA(5) to open or close?

I am so confused :confused:.

Hi Cyberchoon,
This has been discussed in the thread but i think it is being overcomplicated,
it s not mentioned in the e book.
Onanda wnich Maurizio uses dosent have a choice and that is on the close so best use that i think.Also if it was on the open you wouldnt have to wait for the candle to close as what happened after the open wouldnt make a difference.
Hope that makes sense

Hi guys,

There are many who are practicing on demo account, but it seems none on live account. Other than Maurizio, is there anyone who is using this strategy while Trading from live account. I guess the results from live trading would be more convincing.

If one is monitoring teo currencies EUR/USD and GBP/JPY then how many trades can one expect to enter in a time frame of one week.

cheers
novice trader

Hi
i am using it with mixed results
experience is very important

Hey rich100, You have hit the nail on the head with your time frame question!! What the trend is on the upper time frames(daily, 4hr), makes all the difference in whether you should enter long OR short when the set-up comes. If the upper time frames are in a downtrend, your should ONLY be taking trades in that direction. When I start my trading day, I ALWAYS begin by looking at the daily chart and moving down to 4hr and then 1hrā€¦ Maurizio did a wonderful job putting this system together and most importantly making it available to all of us to utilize, but there are some nuances that never got mentioned. One example is using stochastics divergences. Because the stochs used is 14,3,3, divergences to price present a decent trading opportunity, in my opinion. Iā€™m now using divergences with CCI and have been quite successful. I struggled for quite a while like most have until I got tired of losing and set out to understand just exactly what each indicator is telling me. Try this exerciseā€¦pick a point on a daily chart where the stochs has just crossed and is moving up from under 20 or down from above 80. Using your charting software, place a thin vertical line at this point. Then switch to a 4hr chart and notice what it looks like. I made tons of notes about everything from the size of the candles bodies to divergences in stochs and even where CCI is in relation to the 100 AND 200 lines. Then go to a 1hr chart and do the same. Then go to your favorite trading time frame (mine is 15 minutes) and look hard at what is happening. This takes time and a lot of discipline, but it has paid off for me. WHENEVER I am about to enter a trade, no matter what time frame, I ALWAYS switch to a time frame 4 or 5 times larger to get a quick look at what the larger trend is. I hope that this is of help to you.

Hi Guys,

Im new in trading, I started playing demo last November and graduated my degree in babypips but I have still no solid strategy. Can anyone please send me a copy of ema step system? :slight_smile:

Heyā€¦I know I am not a regular contributor to this but I know a bit about time framesā€¦

Look at the higher time frame and wait for a cross to signal that trend is reversing.

Now look at the lower time frame. Look for fresh signals that support the higher time frame direction.

When I first started I found the best way to think of price is in waves.
Longer time frames have big waves and these big waves are made up of many smaller waves which we may see when we go down to a smaller time frame

A simple example is looking at a change in direction from up to down in the 4 hour chart.
The wave has peaked and is now going down in the higher time frame.
You now go down to a smaller time frame to pick your entry ie. look for the smaller time frame to have a fresh peak and then turn in the direction of the higher time frame.

Price will be weighted in the direction of the 4 hour direction which essentially means that more pips will be made betting the same way as higher time frame direction than against it.