I prefer to enter after the lines have crossed so it doesn’t require waiting until the exact cross happens. I caught one that was crossing this morning and enetered - wish i hadn’t now as it was a wipsaw 
ddinnov,
i am very interested in exploring othe swing trading methods. I am currently looking at this which seems quite interesting.
I had a quick look at that one - need to give it some proper investigation.
Both CHF trades were duds - oh well :rolleyes:
i normally only place a trade right after the candle close… in my case, i’m using FXDD which is at 10.00pm gmt…
i closed both trades eurusd and gbpusd which i opened yesterday as it had another crossover today…
and reopen for short for both trades… it’s valid entry with ema crossover and rsi<50
EURUSD 1.3605 SL 1.3789
GBPUSD 1.5672 SL 1.5807
OK I’ve entered 3 new trades as those USD long signals I’ve been waiting for all week have finally arrived:
USD/CAD - buy
entry - 1.0485
S/L - 1.0400
T/P - 1.0655
AUD/USD - sell
entry - 0.8957
S/L - 0.9050
T/P - 0.8750
NZD/USD - sell
entry- 0.6995
S/L - 0.7085
T/P - 0.6815
These will all be winners because they are on a demo, not like the 2 CHF losers which were live trades :o
In retrospect I did kind of force those CHF trades out of frustration at not seeing any signals yet all week. Also fundamentally I should have taken into account that the CHF’s are on holiday all week and the SNB have recently been intervening to weaken the currency.
Lesson learnt - don’t force trades out of frustration - if there are no signals [B]there are no signals[/B]. Always wait for the signals!
Some other trades are looking quite tasty as well:
AUD/JPY - short
GBP/AUD - long (still a bit wary of going long on GBP)
NZD/GBP - short (long GBP again…)
No contradictions with existing trades - in fact they correspond quite well the USD trades. Taking these would make me long USD, GBP and JPY and short AUD, NZD and CAD.
I’m starting to look more at price action around the trend lines as my main indicator - the crossover is just the entry/exit trigger now.
i’m waiting for these two trades as well but on my chart both of them haven’t cross yet… do you have crossover already in your chart?
USD/CAD has and AUD/USD is touching/crossing if you zoom in to the highest magnification.
I changed the EMA template to get rid of the dotted line BTW as it can be a bit confusing.
NZD is just crossing as well and the candle candle formation/price action looks good.
These look quite promising - what’s your T/P for these?
Does this look familiar to anyone?
Return to AUDUSD weakness? | Forex Blog: Pick of the Day
:D:D
But on the other hand there’s another post about USD/CAD which talks about going in the opposite direction I went this morning:
Waiting to Short the USDCAD | Forex Blog: Playing with ComDolls
But that’s after it’s gone a fair way in the up direction first…
Nice to see what the smart money’s up to, which remonds me - the COT is out tomorrow, I’ll be quite happy if institutional traders are taking more GBP longs, that would make for some nice trades next week
i don’t set my T/P. in my opinion, you will lock your profit with T/P which you may get much higher pips gain in daily chart.
i occasionally move my SL to breakeven and small profit…
my exit is either the price hit the SL or if there is another crossover.
no crossover for me today… and my current trades are
USDCAD Short +129
GBPCHF Long -48
EURJPY Long -12
EURUSD Short +76
GBPUSD Short +143
Wow you’re having a better week than me.
I got stopped out of USD/CAD (long) for about 84 pips but have just gone back in again. It’s currently -11
Other trades have only just started moving in my favour after going against me all day… Who knows what the asian session and freaky Friday tomorrow will bring…
AUD/USD - short +39
NZD/USD - short +27
USD/CAD - long -11
Bed time now
hi 5ive5, there is a c/o for USDCAD to long, did you book profit and reverse the trade ?
i have now NZD/USD short, AUD/USD short, USD/CHF long. but problem is TSL. Lot of times i am in good profit but TSL hits and takes out some profits. i like to go for fixed TP, fixed SL. but dont know how it works in long run
I’m rejoining this thread out of interest and new opinions but to those that are trading the system:
How are you avoiding the fakeouts? Do you take them into account or is it a simple ‘close early and cut losses’?
Back when I used to trade the system there was fakeout after fakeout where it appeared the crossover occured however quickly reversed. Just looking to see what others have to say on the idea.
Do both- take 2 positions and set a fixed T/P for one of them and if/when the trade moves a certain amount of pips in your direction move the stop for position 2 and trail it by x amount of pips.
The NZD/USD and AUD/USD trades look lke they have finally turned the corner:
AUD/USD +64 pips
NZD/USD +56 pips
USD/CAD -8 pips
Thanks for joining us - great to see an established member on board.
Regarding the fakeouts at the moment I’m just going over bad trades to try and figure out why it turned out bad and if there is a pattern.
This week I took 2 long positions on the Swiss CHF due to nice technical signals. They both hit my S/L within a day although the technicals were all sound. Both turned into whipsaws on the charts as well:
CAD/CHF - short
NZD/CHF - short
I can only think that that might be due to a Swiss national holiday all week and also the CHF seems to be getting weaker. Also apparently the SNB have intervened twice recently to weaken their currency.
I think some fundamentals need to be taken into account with a system like this as the trades are potentially open for a while.
The question is which ones - if at all - it seems like the news changes every day and there is a lot of noise that might affect day trading but not swing trading.
I’m thinking of using the COT report, commodities (although these change every day) and correlations.
Apart from that I’m not sure what else technically we could use to filter out the bad trades. I just noticed AUD/CAD has crossed over for a short trade in a down channel, but stochastics is very oversold and I just don’t like the look of it.
Just crossed over - GBP/JPY short - I’m in 
Looking good for next week:
AUD/JPY
CHF/JPY
EUR/JPY
Is it a coincidence that a lot if these trades are all in the direction of 1 currency? It seems to be happening more and more, I’m only looking at the technical signals 
What a day yesterday… started off so well and ended so badly
I think I might start filtering out trades that crossover in the middle of the trend channel and just wait for the ones that have recently bounced off one of the outer trend lines and started a move back toward the middle.
2 of the trades that recently I exited and went badly for be before have now turned good - USD/JPY (one of last week’s trades) and NZD/CHF (entered earlier this week and stopped out).
Need to review the entry trigger and how patient I need to be with this. Really we should be using the daily charts as trade signals but actually trading off the 4h/1h charts for the entry points.
I might also replace this MACD crossover with this indicator from the FX group system.
Keep the trend channel rules (only trade in the direction of the trend), risk/reward ratio rules (only enter if a T/P of S/L x2 looks viable) and multiple profit targets and try and trade off the 4h/1h charts for the entry. If I’m not at the computer at the right time I might set entry orders instead.
What do you guys think?
This is becoming more and more interesting to be honest, I’m quite curious how you guys are avoiding the fakeouts.
Best Regards,
Matt Jones 
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my SL hit which i moved earlier for 100pips profit… but i won’t go long for this as the candle was not actually crossed (is ur chart showing c/o?)… it was a big whipsaw that triggered my SL and still trending south…
sorry, what is TSL? is it Trail Stop Loss?
i used to use 75 trail profit but it did not work very well. so, what i do now is move my SL manually occasionally to break even and lock some profit for every interval of 100 profits.
i find this val is still not the best number, i’m still figuring out this number…
i don’t think we can avoid the fakeouts if we use this fast cross ema. but, what i do now is to close early whenever there is another opposite crossover.
i don’t have specific TP but i hope it can go >500pips per trade ( few days - weeks). so, couple of fake outs would not hurt much.
anyway, that’s my so called written strategy system, but it still doesn’t works very well which i started two weeks ago.