Hi,
I am just brand new to FX and just finished the babypips school . I like this EMA system but couldn’t get to set the EMA like you guys discussed it here.
I am currently trading demo on the MIG platform. So any help in detail on setting EMA will be greatly appreciated.
Silverhalo thank you once again.
You should contact MIG… Each broker’s charting package has different methods for adjusting indicator settings… good luck!
This is my first post here. I tried this system. Took a while to work everything out. I am using Metatrader to track and Forextrader to trade.
This system has changed everything! I use a day chart for trend direction and either a 15 or 30 minute chart to execute.
This system has made trading so much easier. There have been losses, but the wins have been much greater.
Thank you for sharing this. Thank you so much.
Hi,
I m trying to set the EMA 1 and 5 according to recommendation. On my MIG trading platform: PERIOD : 1 for ema1 5 for ema5, SHIFT: 0; MA method: Exponential;
My question is: what about the APPLY TO box??? it gives me choices such as OPEN, HI, LO, CLOSE, MEDIAN PRICE (HL/2), TYPICAL PRICE (HLC/3)…
So which one I needed to pick for this box.
Thanks in advance.
Mate, I’ve got mine set to open. That way it forces you to wait for the opening of the new candle to recognise an EMA cross. Truth be told, you probably only need an EMA5 and wait till a new candle opens on the other side it. But I still put the EMA1 in there just to make it all a bit more visual… faster to see exactly what’s going ont I suppose.
-Benjimang
Thanks for the help. Another question if you don’t mind: I am still not sure of what to do after a crosses candle. Below is Mauizio instruction:
" will wait for the Ema’s to cross and for the timeframe on that “cross-candle” to have almost come to an end. Once i have seen the cross, i am looking to enter as soon as the timeframe makes the step to the next candle, i will enter in the direction of the Ema cross."
I am still puzzle about exactly what he’s trying to do?
Again your help is greatly appreciated.
If you set the EMA1 to close, the end of the line will move up and down with the price at the current tick. So, you have to wait till near the end of the candle to see if the EMA is still crossed, then you enter as soon as the new candle forms.
If you set yur EMA’s to open, the end of the line stays put at the opening price for the candle. So, you just check your chart at the start of the new candle. IF the EMAs are crossed, enter.
-Benjimang
I entered 2 trades with EURUSD and were successful. Entered one trade with GBPPY and made some pips there too. So far so good for a beginner with a demo account for 4 days.
I really appreciated for all the help and patience wth a slow learner.
Hi
Thanx for the system. I just a newbie but had been following the system and having good success.
I would like to thank you and everyone here on the forum. My request is that everyone keep this forum alive by post more of your experiences.
Best Regards,
Silverhalo
Hey peeps :0)
This thread isn’t dead.
It may seem that way if I myself or others haven’t posted for a while, but please bear in mind most of us work in a regular job and have a girlfriend that demands regular time from us, so somethings have to give.
So…what have i been doing?
Well, alot of people have had success with this (thats GREAT by the way) but some of the messages i have had makes it clear that some find it difficult working out entries, exits and take profits.
So, deep below the streets of London in my “Batcave” i have been trying to make things a little easier for everyone…especially the newbies.
So i set myself a goal of streamlining the system.
I wanted to use less indicators and catch the bigger moves.
Those who use this system on a regular basis may already have noticed what i am about to post…But i want to do it anyway as i think it would be a good start to anyone just getting into Forex.
This system uses three indicators aside from the EMA’s.
Slow stochs…set at: 18, 3 ,3.
CCI set at: 25.
Bollinger bands set at: standard, 14, 2.0.
Now, the main entry is still the EMA cross. But what i am trying to achieve is a more reliable entry, exit and take profit stategy.
It may take a bit of practise and getting used to, but i think it is worth it in the end as i have has alot of joy with this in the last few weeks of testing and real-money trading.
For those new to this thread, i am not the kind of bloke to post an “idea” or “theory”…if i have not tried it, tested it and made money from it, i simply won’t post it…or what i say just wouldn’t be worth a ****.
So, have a look at my next post to see what i have come up with. :0)
OK.
You have probably just read the post before this…so here it is.
This works on just about any timeframe on the Yens, but if you are new, stick to 30min or above…coz i want this to work for you…the higher ya go the more you will make, but the longer it will take to get there so the decision is ultimately yours.
Slow stochs…set at: 18, 3 ,3.
CCI set at: 25.
Bollinger bands set at: standard, 14, 2.0.
OK.
Set lines up on your slow Stochs, in this case you want them set at 75 and 25…this is slightly different to the 80-20 set up from before but there is a reason for this…it basically is more effective for a cross range of timeframes.
Now add your EMA lines, these are still 1 and 5 EMAs like before.
So your chart should look something like this:
OK, so now you have your set-up.
Lets talk about entries:
For any entry you want THREE singnals. If you don’t get all three don’t enter!! (newbies)
Stochs above/below base line.
Price above/below top/bottom bollinger band.
CCI above/below +100 / -100 base line…breaking.
On a short (sell) trade:
When looking for a short, what you are looking for is for all the idicators to be “Maxed-out” This indicates a substantial downturn in price is due.
That means that (and look at your indicators in THIS order) :
BOLLINGER BANDS: Price has broken the top band and is starting to go down again.
SLOW STOCHS: Are still above your “75-line” just about to cross, crossing or have just crossed…either way they should be approching the “75-line” in a downward fashion.
CCI: Has now peaked (looks like a triangle) and is just beginning to fall below the “+100 line”
So your chart would look a bit like this:
OK, on a short (sell).
This is how you should work out your Entry, Exit and Take profit.
Your entry should be the first EMA STEP after price has broken your top BOLLINGER BAND and begun to come down again and all your other indicators have passed their base lines in a downward fashion.
So:
BOLLINGER BAND: Has been broken (In some cases it doesnt quite reach, but a stop and reverse is clearly visible, in these cases the action should be the same) and has now reversed in a downward direction.
EMAs: Have crossed, wait for the opening of the next candle. THIS IS YOUR ENTRY.
SLOW STOCHS: Have crossed and boken below the “75-line”
CCI: Has broken and is dropping below +100.
STOP LOSS: This should be placed 10 pips above the highest point of the price break of the BOLLINGER BAND.
TAKE PROFIT: This is simple, once you have entered a trade your Take Profit should be 5pips below the BOTTOM BOLLINGER BAND LINE. (30Mins and above) once price reaches the bottom BOLLINGER BAND, adjust your TP to that price, it will either bounce back up hitting your TP (earning you a profit) or it will continue down earning you even greater profits.
Should the price continue down you should exit when the CCI and SLOW STOCHS break upwards from their base lines.
UNDER NO CIRCUMSTANCES ADJUST YOUR STOP LOSS, UNLESS IT IS TO LOCK IN PROFITS.
Maybe i didn’t make this all that clear.
You are aiming for the top/bottom of the Slow Stochs to coincide with the top/bottom of the CCI to execute your trades.
Have included a pic to show what i mean.
Sorry if that wasn’t clear.
I was wondering if anyone has used any type of automated trading for this system, including any back testing? I think this is well put together, THANKS Maurizio for posting, but I would love to sit back and relax while having the computer execute the trades to your exact system. Does anyone have any results - Good/Bad - as well as what trading software may work the best for this system.
Thanks again.
Thanks M.77 - I made out like crazy on Tue & Wed and then gave it all back today! Your futher explanation should help bigtime. I do well with the Eur/$ and maybe that is the only pr I will trade for the forseeable future. D
Edit - I very much appreciate the time and effort you have put in to this system; we all owe you a great deal of gratitude. Thank you so much. D.
Hey Guys,
We had the infamous Non-Farm today…did anyone mange to get it using this system?
All ya needed to do was follow the rules :0)
200 pips, happy days 
Have a great weekend :0)
I caught about 170 pips of the move.
Thanks for taking the extra time out to further clarify your system and post all the chart examples as well. It really does help.
G’day all, if you were watching the daily GBP/CHF at all, you could have nabbed some serious pippage. As it turns out, I cheated a little. When the signal for GBP/CHF said go, I also sold GBP/JPY due to their tight correlation.
I actuallyt exited at the same point as Mourizio, basically searching for a good exit before the weekend. That tallied over 220 pips on CHF and over 300 on JPY.
I’ll attach a pic soon.
Cheers,
Benjimang
Hey Benjimang,
I m trying to get the time that both Japanese and British markets are open:
3am to 4am EST is this correct??
Please let me know.
