Hey,
Unless there is very little movement throughout the day the News rarely affects this system. Not withstanding NFP of course which at its worst can turn a good trade on it’s head and vice versa.
Benjimang has a point, theres gonna be some good cross candles soon.
And as for timing ya entry by using the 3/4Hr charts,i couldnt have put it better myself lol.
Luck to all in the coming days 
Evening all 
Grabbed an easy 80 pips today off USD/JPY, all i did was enter after yesterdays cross candle…couldnt have been simpler, checked my trade just twice today…now i’m out…
I think U/J will continue up…but i am looking at GBP/JPY again now as you normally get bigger movements on that pair…
Lets hope tomorrow plays out the way i think it will, the stochs are crossing upwards from 25ish…When the three hour and daily are both oversold…am reckoning on about 245.50 or 246.00 in the next day or two.
Best luck to all
Just read through the thread. Thx for posting Maruizio! I am eager to start demoing it. From what i can see this is a great entry system for trending currencies. My two cents would be to go strong with this in trending times on a larger time frame (1 day is sounding great) but beware when the market is ranging. Anyways i hope to post some success in demo soon!
ps Maruizio have you settled on a favorite pair or are there any pairs you don’t want to touch with this?
Another good day for this system.
Wanted the daily GBP-JPY to start it’s long-awaited climb up today, alas overnight trading wasn’t too hot so the 3H stochs were still well overbought this morning…a drop was inevitable.
Climbed onto the first cross candle i could see on the 3H.
Triggered my 50 pips trailing stop but still walked away with 260 pips 
Hope everyone did just as well
Can anyone enlighten me on what the “EMA STEP SYSTEM is.”
Pliz help from what I read in the threads it seems to be effective. If there are any resources pliz provide me with the link
Hello all,
Another good trade today as the daily cross candle on the GBP/JPY brought us 100 pips by lunchtime BST.
Stochs seem all over the place now though, am staying out until i see a cast-iron entry…if that means i don’t trade until WED or THURS next week so be it…although i reckon we may have some good trades on Tuesday.
Made well over 600 pips this week…i have no intention of losing them on a whim or “gut-feeling”.
Off to the Pub in a bit,
Have a great weekend.
p.s Christo, the system is on the first page of this thread.
Use it on demo on the daily first, get to know what you are doing before you take it to live trading or taking the timeframes any lower
Hi guys,
Just a quick question really…how has everyone got on this week?
Benjimang, Cryten…what sorts of results have you had with this recently?
Let me know guys
Hey Maurizio, good to hear from you mate.
I got hammered on Thursday by the move that you actually caught. Problem for me is that I work until about 9am GMT (I live in Brisbane, Australia). I was checking the trade at work, but I don’t have a mobile tradestation. When I realised that a massive pullout from carry trades was happening, I couldn’t do anything about it. That said, when I got home I placed opposite trades according to 30 min and 1 hour charts to make back around 80 pips across two pairs.
I’m pretty chuffed with my effort yesterday though. The carry trades were back on, so the Yen and Swissy crumbled. I only got onto GBP / CHF (buy) at 14:00 GMT… everything was lining up from 15 min right up to 4 hour charts so I placed the trade, added a 45 pip trailing stop and pulled 165 pips before being stopped out. It probably could have gained more with a looser trail, but I don’t really like leaving trades over the weekend, so all went well really.
I know you went well right? Have a great weekend and I’ll see you back next week.
-Benjimang
hi guys,
I pulled 100 pips on the 15 minute chart, could have made more but set up tp to 100 and set my stop to lock in 30. I have a slightly diff approach on 15 mins. I set the candles to heiken ashi and add the T3 moving average set at 8exponential close volume factor 0.7.
The cross is alert and as soon as the candles are below the T3 I pull the trigger. Love the T3, price has to be cleanly above or below, if the T3 is interfering with the price I don’t trade as the market is in a range.
I have been working on the 15 min setup so not been on the daily as much as I would have liked, have seen some massive moves after the fact, glad you guys got some pips bagged. Wish it was like this every week 
"There are five primary signals that identify trends and buying opportunities:
Hollow candles with no lower “shadows” indicate a strong uptrend: let your profits ride!
Hollow candles signify an uptrend: you might want to add to your long position, and exit short positions.
One candle with a small body surrounded by upper and lower shadows indicates a trend change: risk-loving traders might buy or sell here, while others will wait for confirmation before going short or long.
Filled candles indicate a downtrend: you might want to add to your short position, and exit long positions.
Filled candles with no higher shadows identify a strong downtrend: stay short until there’s a change in trend. "
This may be of some use, I had a look at the fozzy system a while back, plotted the rsi over ma on my chart and the best signals for huge moves seemed to happen when fozzy and ema step gave the same signal at the same time. Anyways therefore the info below may be helpful for any one day trading.
credit goes to Vensik from FF
Just wanted to throw an interesting thing out there for those of you big into backtesting. If you really want to do the due diligence make sure you give the trade a chance to work in Several different timezones. I backtested a trade last month that I am now trading. I backtested it in a spread of timezones because it opens on the open of the new day candle. Different time zones open that candle at different times, and therefore have completely different indicator values. ie. stoch’s, cci, macd.
The difference in the results was amazing. between PST, EST, and GMT. GMT is hardly tradable, while EST is giving me good returns since I started trading it live.
Here are screenshots of my backtest. Notice GMT pays less than 50% of the time, while EST pays 68% of the time. Thats a huge difference.
This backtest is across 2.5 years worth of trades. I just thought the difference was amazing. From 2800 pips to 8000. Thought I’d share.
Cryten, just a question about your backtesting…
What time is the new candle stepping within each time zone? I trade with InterbankFX (MT4) which uses GMT timing. However, the new candle forms at 5:00pm. Other platforms might step at 00:00am or something, but still be using the GMT timezone. For example, I’m pretty sure FXCM (TradeStation 2) steps at midnight, EST. Any thoughts?
-Benjimang
5:00 PM EST which is the NY session close time.
This is important when calculating, for example, daily pivot levels etc, since most traders consider NY close as daily close.
Oh right, so long as it’s consistent. That was the problem when I was analysing the difference between the two platforms I have running here… Time Zone AND time of new candle were different. My conclusion was just to makes trades at the same time of the day, regardless of when the candle stepped.
That doesn’t really apply now though because I do tend to break the rules a bit. I wait for the step and start to analyse the situation, but I place my ‘daily’ orders only when the 4 hour (and sometimes even 1 hour) charts line up too. I suppose it would be too hard to write an EA for that and test it.
My curren entry strategy for the daily is this:
Wait for the EMA to cross. I actually have my EMAs set to ‘open’ so that I can be sure that I have waited for the new candle to form too. At this point I make sure the other indicators are hunky-dory too.
Check for any pending news releases for the day that may have a large impact on the pairs I intend to trade.
Check up to two smaller timeframes to time my entry.
If I’m trading any tmeframes smaller than 4h I add in an extra step. I’ll also have a look at one or two timeframes UP to make sure I’m trading with the trend. Nothing worse than catching a small retracement and then watching the trend resume against you.
-Benjimang
Another pretty good day for this system.
Would have been even better had i not been in a meeting all morning. :mad:
I didn’t want to go anywhere near the dailys today…or the 3H for that matter.
So went down to 15mins.
As you can see there was plenty of opportunities for positive pippage!
I managed 50 of um’.
P.S Cryten, i like the look of your set-up.
I can’t get T3 on OANDA, but the Heikin-Ashi is deffo worth more investigation, i like the way it can show you that a run is coming to an end by the shadows…or (and more importantly) that the trend is lasting.
Very useful bit of kit i had never considered.
Thanks dude!
Well done Maurizio mate… I actually made axactly the same first trade as you. I was on a hot date (puffs chest), so I missed the big move too. I actually got 55 pips out of that first move by doubling up somewhat. I noticed that EUR / JPY was moving with some decent strength yesterday so I baught in with that too. I realise this isn’t too far removed from just opening twice as many contracts on the GBP pair, but from the price action so far I just thought I might be able to squeeze just a few more pips out of the EUR pair.
Nice to see you confirm my reluctance to trade the higher timeframes too. See you all soon.
P.S. If anyone is interested, my msn email is <[email protected]>. Feel free to add me if you’re at all interested in keeping an eye on the markets together.
-Benjiamng
Just a thought… why exactly do you bother having the 1 EMA? If a candle closes above/below the 5 EMA it would tell you the exact same thing as the 1 EMA crossing over. I just think it might be easier to read the charts with as little clutter on screen as possible.
Anyhow, I think you have an excellent system worked out here. I’ve been trying to trade it some the past month, however I haven’t had near as much fortune as you have had with it. I seem to have trouble determining when to exit and distinguishing from false signals.
Thank you for sharing your experiences with this method so far, I read this thread daily.
Hi Pederl,
Why do i need the 1EMA?..I simply find it easier…X Marks the spot.
I can look at a screen and know in seconds if i want to enter or stay out.
I suppose it’s just a matter of choice…if you don’t want it there take it away.
I like it as i find it helps me with any whipsaws should i have them.
Glad to hear you like the system and the thread.
As for not having as much success on this system, don’t forget i have been doing this for ages, it is almost second nature to me now…
The things i look at when i open a screen;
2)What is CCI saying…has it peaked, is it breaking 100 (If yes then either there is, just has been…or will be a cross candle so ya can prepare for it)
What are my stochs saying?..If CCI has peaked and breaking 100 then its likely they will be breaking the 20-80 lines…a good sign for a move.
Trade setup…is the price moving quickly with momentum (harder to slow down and whipsaw = longer trade) Is there any Support/Resistance that your trade might bounce back off?
Today for example i placed a TP on 238.00 TWICE, it hit twice…and bounced back off of it twice. Although it did eventually dive below it for a period later on, i was IN and OUT with the least amount of market exposure as possible.
All these things take me about 45 seconds normally…then i am IN or OUT.
Look at the results of your trades…why are they not always working?
Is it because of retracements/whipsaws?
Do you stay in them too long?
(If so look into Bollinger bands, Channels or Heikin-Ashi candles this may help your trades length…pay special attention to the shadows or wicks on these, i have found they are good at telling you when a move is almost over)
Do you get out too soon? (See above)
Do you get greedy?..We’ve all done this…i still am some times LOL
If you find you hang on too long, just set your TP for 5 pips… doesnt sound alot right… you do that twice a day for two weeks and then say it doesnt sound alot!!..You’d be suprised.
Have taken a quick screen shot…this is GBP/JPY right now as i type your answer and just look at how many crosses there …now imagine you got 5 PIPs on each cross.
The candlesticks are Heikin-Ashi … look how the colours change at crosses and the resulting price action.
Thank you for replying to my comments. I also really appreciate how you detailed again your thought process and determining factors for entering the trades. Those Heiken-Ashi candles really seem to be a great tool, unfortunately I’ve been using e-signal and as far as I can tell there is no way of incorporating those for this software (I might be wrong). Which charting software are you using that offers that?
What you say about just trying for 5, or maybe 10, pips makes a lot of sense. I was seriously looking into that as well, because if you could consistently make positive 10 pips a day that way, you would be set. With GBP/JPY pair though, my broker usually has a 9 pip spread. Therefore my s/l would probably have to be around 20 pips. Anyhow, I’m going to definitely be looking into this more, maybe try it out with EUR/JPY pair also since it has a spread of usually 4 pips.
Keep up the great posts and make lots of pips!
Hey Pederl, welcome to this system!
Pay attention to Maurizio’s thoughts, they’ll help you immensely. Just learning the nuts and bolts of the system is only the beginning. I also started out just grabbing 10 pips per trade, just to get used to seeing the system work, and build confidence. After you’ve been using it for a while, you’ll start to learn what market conditions generate different size moves.
My only piece of advice is to watch your time frames. I use larger timeframes to identify ‘macro’ trends and to set profit targets, and I use smaller timeframes to time my entry.
Example: I see stochs and RSI or CCI heading into overbaught territory. So I’m waiting for the 1 period EMA to cross down below the 5 peroid EMA (or, if you like, I’m waiting for a new candle to form under the 5 EMA). I will look to the Daily to see if the situation is similar. If yes, then trade is good, an I can shoot for some higher profits (maybe 35-45 pip trailing stop). If the daily shows a slight bullish trend, then I might still make the trade, but with a small profit target. Then I will look to the Hourly and 30 min charts. When these line up (stochs and CCI are overbaught), THEN I will enter. This way I only need to use the appropriate stop loss for the smaller timeframe, but the larger profit target of the longer timeframe. This results in a favourable Risk : Reward ratio.
Does this make sense?
-Benjimang
Great way of explaining it!!
