Ema Step System

Trading Systems
1024

Hi guys, sorry i haven’t been around, i was made redundant, had to find a new job…things have been hectic.

OK, moving on . . .

I use this system on JPY crosses, mainly because of the liquidity, there tends to be more movement on these pairs, and, as a result, more scope for timeshare trades.

As for which TF’s to use, this is entirely down to how much time you have to look at charts…and of course what the market happens to be doing at the time. Read through this thread, if you are asking what TF to use, to be honest you’re probably not ready to trade.

As for accuracy, the lower the TF you trade, the more probibility there is for fake outs, this is not just applicable to this system but ALL systems. There is simply more ‘noise’ in the markets at that level.

Read and re-read this thread… see how you can adjust it for your own predicament.

No trading system is blueprint to make money for everyone, you need to offset your trading ability, with the amount of time you can devote to the screen…to the profits you expect.

I think (as with ANY system) more people lose money with a system than make money with it…the reason isn’t because the system doesn’t work, it does, clearly. The reason is because people either try to change it or they don’t apply it properly to the circumstances in which they find themselves able to trade…or they want a quick fix to enable them to rescue a dying account.

None of these scenarios are conducive to effective trading. When you start a new job…do you expect to be brilliant at it in the first week?..the first month? Of course not, it takes time to learn the ropes and you have to do everything properly at first before you learn where you can efficiently cut corners.

Trading is no different.

If you are genuinely serious about trading profitably, you need to be prepared for the long slog, for all the knock-backs and disapointments.

It’s taken me ages to get where i am, and the point of this thread is to show other people that it really IS possible to make money from Forex…but you need to put the work in, put in the hours, watch for news, get to really KNOW the pairs you’re trading…but above all that you need to get to know yourself…
When you get greedy. When you hold that trade longer than you should. When you see a trade developing, but fail to see it through because you get nervous.

If you are still doing any of these, you arn’t ready.

I trade like a machine, i have my rules, i stick to them…of course alot of trading is intuitive, but i will never let my intuition overide my rules.

I will be on here again now that i have sorted myself out work-wise…so post your questions and i will answer them all as best i can with the time i have.

1025

Hey Maurizio,

Sad to know that you were one of the victims of the current Financial meltdown, which in Asia seems to have bottomed out. Wishing you all the best in your new job.

As regards Trading, I had been whipsawed on the lower TF and as such I had put a hold on the Trading and decided to resume Trading using this system from this week.

Cheers

1026

Hi Noviceuser, thanks for your words, yep it’s life…just have to get on with it. :wink:

As for the skype room, i have been wanting to set one up and ‘put my money where my mouth is’ for sometime now…the problem is that during the London open and first part of US i’m at work, with my new job i have quite varied hours so would find it hard to specify a time everyday when i’m available… and during the Asian session i’m in bed.

It’s very frustrating, but with a truly global market it is to be expected that individuals trading hours arn’t always going to overlap.

When i get into my new job propper and begin to get more of an idea of what days i work and what hours then i will see if there is a day or two during the week i can commit to a certain time. I am positive it would be easier for you guys to follow me as i trade then just looking at my examples on the thread post-trade or once i have already made my entries.

There is always the option of a few EMA Step thread readers setting up your own room, giving me the day/time this happens and i will do what i can to make it in there with you???

Give it some thought guys :slight_smile:

1027

If anyone can set it up, I will definitely be in the chat room.

1028

Hello,

101% newbie here with my first post.:smiley:
How could I get the E-book?

Thanks beforehand!

1029

Hi there, I am also interested in obtaining the ebook as well!
Thanks

1030

It`s mentioned a couple of times in this thread. Latest download link can be found in posting #895

1031

Baby24,
I got it.
Many thanks.

1032

Thank you baby24, I was able to track it down:}

1033

I want to clear some things up & don’t take offense. If you’ve put in the time in forex to be consistently profitable to make money then why do you have to find a job?

1034

Good evening
Well firstly the only thing I do to make an income is trading forex, but in saying that I can under stand why people trade succesfully and have a full time job and that is, because you can do well only trading a few hours a week… then for the rest of the week you got nothing else to do… and it gets boring…
I aim to make 150 pips a week 30 pips a day average and I almost 99.9% of the time do it in the first 5 hours of the week. So once my goal is reach I sit back…

1035

Hello,

I downloaded the E-book and am back-testing the Assertive Trading Technique and have two questions.

I use the entry’s rule of EMA X-over + Stochastics + Com’ Channels.

This Assertive technique specifies the first take profit exit point at the middle of the BB.
However, I noticed that the majority of EMA cross points are “at” the BB points and even sometimes lower/higher than the exit points.

For example, let’s say I am going long, my entry point can actually be higher than the middle BB (inverse for short).
Question1: in that specific case, what is the entry/exit rule?

My guess is to exit at the upper/lower BB but it that case, we are talking about aggressive EMA trading technique.

Question2: has anyone tried to automate this technique? If so, what were the results?

Thanks beforehand.

1036

Good evening Lee,

very commendable to hear that you achieve your weekly goal in the first day of the week. Can you inform us as to how many pairs do you trade. Do u have more than one posn open at any given time? Also are there any specific times you trade this system as Maurizio77 uses this system during London session.
Maurizio, I have been reprimanded for mentioning skype room in this thread so no more talk of that from me.

Cheers
Novice

1038

Hi Guys/Maurizio,

So I was testing your system …
Was wondering if i am doing it wrong. Did i enter at the wrong section?
What would you guys do in this situation, will you take a loss or still stay with it? if take a loss, at which section?

I see all 3 conditions were hit on EMA, Stoc, CCI.

1039

OK, this isn’t the first time i have been asked this…and it is a fair question.

Let me be frank.

  1. I enjoy the work i do. I always have. I make new friends, i learn new stuff, i develop myself, socially and professionally. I enjoy recognition, and i like it when i achieve goals… Trading rarely gives me this.

  2. Trading is lonely. It’s all well and good being a profitable trader, but as a retail trader, when i was out of work, yes i was making good money, but i was also under my womans’ feet all the time, i was getting up late, staying up late, not seeing much of my friends…feeling pressured to make the money to sustain my lifestyle. I didn’t enjoy it.

  3. What if it all ends? What if the markets change to such an extent that none of my systems work anymore??? What then? I go back 5/8/10 years in my career? I will not take my success for granted, the markets are waaaay too unstable for me to think i know it all and will be profitable forever.

When i started this, i wanted to be some sort of ‘Yuppy’ who drives Ferrari’s, has a penthouse and all the women i could ever wish for…nowadays i just want consistancy, 3/4 holidays a year and a regular income my family can depend on.
That simply isn’t possible with retail trading.
Imagine having 3 bad months??? It hasn’t happened to me in years but what if it did?

The money i earn from my trading is my ****tail/starter/pudding…the money i get from my income is my main meal.

I will not ever let that change…and if things keep going as they are, i still get 3/4 holidays a year…but my kids will be set for life.

I have seen sooooooo many people on here talk about making their income from trading, how they’d give up work.
Doesn’t work like that people.

When it comes to it. You realise reluctantly the fragility of the markets and the fact that your 'trading ‘career’ could be over in as little as 15/20 bad trades.

So why do i work?..

becuase it’s what i know, it’s what i like…and it’s what i can rely on.

1040

Great reply, Maurizio…
I’ve been following your system for over a year now, and it “grows” on you after a while… you get to know the personality of the pairs, and how they work around the ema’s.

Anyhow, I also agree, that on my days off (from the office or work), it can be fun in the short-term just trading, but after a while, it does become a lonely existance… and it does also mess with your sleep and living patterns (e.g. I can’t really resist checking how the trade is going at 2am when I’m in one… which is why I prefer to exit my positions before bed time if possible).

I think treating it as “just a hobby” and not so SERIOUSLY also makes trading more enjoyable… and as you say, it’s not your sole source of income.

cheers…

1041

Hi

I need a little help with setting up my chart. I downloaded THE EMA STEP System and am not sure about a few of the settings.

The CCI settings in Metatrader 4, should they be the following:

Under the Common tab
*tick in fixed minimum and maximum
Under the Inputs tab
*CCIPeriod 20
Under the Levels tab
*first level 100
*second level -100

Thanks.

1042

Hi Everyone,
i read with interest the last couple of posts, however i have an opposing view, its great that you enjoy work, personaly i dont.
I see trading for income a goal not because i want to be rich but for the freedom it could give me, i wouldnt have to work christmas or weekends, wouldnt have to apply for days off that may get refused… personaly im not to worried about stability ( i currently am not consistently sucsessful at forex) if i had a few years of sucsess it would give me the confidence to leave my job but if the forex all went wrong i would be in a possition with no income, but im adaptable and would find somthing else ,maybe somthing with less money but somthing i enjoy.
As for the lonleyness of trading, you would have to be dissiplined and trade certain times maybe the first few hours of london then first few hours of US session, this would free you up to see freinds and family every evening and every weekend to do as you please.
I Know most people dont make the forex buissiness work but some do, so long as you dont lose you shirt i think its worth a go.Im no expert but if you are making money in these last couple of years ( im told there the hardest trading conditions for decades) and your adaptable i dont see why you couldnt continue to be sucsessful. people blow their accounts due to greed not changing circumstances.
anyway just wanted to keep my dream alive hence this post.
Thanks
Rich

Cheers
Rich

1043

Hi again,
just wanted to comment on the patr about a trading career being over in 15 to 20 trades, surley 1% is 100 trades or even 2% 50 trades.
Cheers
Rich

1045

Thanks for the system. I am looking to get involved in the market.

Cheers.