this forum doesn’t seem as active as it used to be, shame really!!!
where’s everyone gone???
this forum doesn’t seem as active as it used to be, shame really!!!
where’s everyone gone???
is anyone still using the EMA step system with success???
They have been banned for expressing an opinion
you are joking right?!!?
this is one of the best threads ive found, its a shame no-one contributes any more.
Hi All …and Maurizio77 i have a question to you…is it possible to give me a list of the trading books you have red since you are trading…i am asking out of pure curiosity…thanks in advance…r u on another holiday ?
I’ve been buuuussssssyyyyyy! lol
Will answer everyone this weekend ok …or may God give me the mother of all wedgies!!!
I’m already a demo millionaire! I will buy a lot of demo cars, and all demo girls will love me
your system helped Maurizio…i want to give you 100 000 demo dolars because you helped so many people here…
the BIG Q is is my hard saved 10k euros ready for the live action…or am i ???
have a nice weekend all
Wow, that sounds like a bit of a harsh lesson!
If the system works for you as it is, then leave it be. Ya seem to have a head on ya shoulders - don’t make the mistake of trying to squeeze out as many pips as you can from every trade. That is a newbie mistake and one that can flatten your account.
My outlook when i am trading is that i take what the market is offering me. I have no set target i have to make every day/week/month.
I simply trade as i see it. What it gives me it gives me, what i miss is irrelevant.
I would say that to see the benefit of what you’re doing, trade a week or so as normal - no adjustments to the system - just trade as-is. Then work out an average of the profit you made, then work out the compound interest for that profit percentage.
If you do this, i think you’ll find that there’s really no need to try and squeeze pips out of a trade.
All you have to do is enter and exit.
Let Price do the movement, let the interest look after itself.
Ahhhhhh, that old chestnut!!! lol
The short answer is that you can take both.
I know, surprising answer huh?
It’s all about ‘Lifespan’ of a movement. The lower the TF, the shorter the lifespan.
Let me try and explain. On a 5M chart you could have an EMA Step heading down. All the signals are there, it looks great.
On the 30M however everything might suggest the opposite, everything indicating a move to the upside.
Now even though both entries are showing as valid, the lifespans of those trades are totally different.
You get 6 5M candles in each 30M candle, that means the 5m entry could’ve come and blown itself out within a single 30m candle.
Yet even though that trade may have happened and lived it’s life, the movement on the 30m candle would still be as valid as it was when the 5m entry first looked good.
So basically, you could take the 5m trade in the opposite direction to the 30m trade and make profit, then once the 5m trade has run it’s course you could then enter the 30m trade.
A warning though.
If you enter the 5m and it retraces from the central BB, get out of the trade as you’re likely to get stopped out.
The sensible approch to this situation is to simply enter on the 30m setup.
But making money on an opposite 5m IS possible, just more risky then sitting tight and waiting for the 30m trade to develop.
If you’re not confident on the outcome of a trade - simple - don’t enter it.
Joe
You have a 90% chance of losing any capital you put into Forex.
These are the odds you’re up against.
Demo any system you use. Make sure you understand the system so well that you could do it in your sleep.
Watch the pairs like a hawk. Understand their ‘personalities’…each pair has a particular way of moving.
After you have done this…THEN think about the money you’re willing to invest.
Remember - only fools rush in…the clever ones stand back and assess the situation first.
Firstly, well done on the 140.
Yes my trades are usually a success, i am currently on 91.26% winning trades.
The trick is to practise. In the beginning i found it much easier to trade the higher TF’s looking for smaller pip gains.
So enter a 3 hr trade using the EMA Step for say 10-30 pips…then watch the movement on lower TF’s. Don’t forget that the movements on the lower TF’s are just a microcosm of the movements taking place on the higher TF’s.
It’s all about gaining the confidence. Seriously.
I used to enter a trade i thought was correct, then for it to whipsaw on me…just for me to exit before it hit my stop - only to go on and make the profit i first expected it would! lol
Now i watch the charts for an entry that i can’t refuse, i set my stop and let it play out. More often than not it hits.
91% winning trades isn’t a fluke - it comes with practise.
Thats all it comes down my friend.
Put the hours in, watch and learn.
One day you’ll have a moment where you look at the price movement and (like Neo in the matrix) all the figures and and confusion turn into a much clearer picture.
Thanks Jotex.
Firstly, i know nothing about MT4, it’s been years since i last used it. Perhaps someone on here can help with that???
When i set my targets (Middle and Opp. B/Bands) i do so as soon as i enter the trades, then adjust them according to how the price is moving. This is because the B/Bands move too.
The lower the TF you’re on, the more you are likely to have to move your targets.
I don’t pretend that the EMA Step is some kind of set-and-go system. You need to monitor it, this is because you have to be as fluid as the market to make money from it.
Ever been in the situation where you’ve put a hard TP on…just for price to get within 1 or 2 pips and then change direction???
That doesn’t generally happen with this sytem, as you’re adjusting your TP to the movement of the market.
As i have always said, we take what the market is willing to give us.
LOL Nooooo
If anything i would switch up.
Listen, and this is very important - to everyone reading this thread.
I can’t emphasise this enough.
If you want more confirmation on your entry…go UP TF’s …never down.
Look at things from the larger perspective.
Seriously, if there’s ANYTHING you take from this thread…when ya not sure about an entry…look to the larger TF’s. If ya still not sure, walk away, spend time with ya kids, take ya woman/man out for a meal.
Don’t enter on a whim, that’s gambling people.
We are looking for a particular set-up, if it’s not there or you’re not sure about it - don’t do it.
Rule 1 - protect your capital.
The market ain’t going anywhere.
Use 14.3.
That’s what i use.
I sometimes mess with settings just to clarify things to myself.
but in entry and exit, i always use 14.3
LOL wow!
Read the Ebook friend.
Google EMA Step.
This question keeps coming up.
It’s down to the longevity of the trade.
A 5M trade will exhaust itself (usually) before a 15M trade.
A 30M trade will exhaust itself (usually) before a 3hr trade.
The higher TF will almost always exert itself over a lower TF. (Barring News or some other external event)
Now…
I don’t mean this as a trade strategy, it’s simply to prove a point…
(Only do this if you’re on a demo account ok?)
Next time you see an EMA Step entry on the daily, say to the upside, enter a valid 5M trade to the downside, then come back in 24 hrs.
You’ll be negative. i almost guarantee it.
The reason is because the strength of the daily movement faaaaar outweighs that of the 5M…even if that 5m was in profit for a while, the momentum of the daily will simply wipe it out.
This is why we always check upwards for the sentiment, downwards for the early entry.
LOL
Yea, the moderators on here are quite strict, and rightly so.
They do a good job and stop the spamming that so often happens on forums like this.
Think of them as a stop-loss for bad communications lol!
If ya wanna find the Ebook - then google EMA Step, ya should find it there somewhere.
Still here
Life gets hectic sometimes y’know and a forum ends up being the least of ya worries lol
LOL, no next holiday is next month, in the middle of Sept. (So no comments about the thread being dead ok?..i’ll be sunning my pale frame in the Maldives)
Joe, i have never read a single book about forex trading.
I taught myself by watching the charts and practising.
The reason I asked that big list of questions is because I wanted to know what you are doing. In the E-Book you would say one thing and on the forum you were saying others.
EX) You said you put your stop loss 3/4 of the previous candle. Then in a different spot you said you were using the previous swing high or low? I was just trying to clarify what you really do that’s all.
SO if I didn’t read through any of the thread and only looked at the e-book that would be all the info I need to use this system? I was just getting confused because there were so many other things posted
You're a good man!
Joe