Basically one of my strategies that I am trying to implement is as follows:
I use 5 different EMAs:
5 and 8 for short term
21 and 55 for medium term
200 for long term (trend)
I look for crosses of 21 EMA through 55 EMA. When I see the cross and wide angle and separation between the two lines, then I start thinking about entering the trade. I enter the trade if I am going with the trend and the time when I enter the trade is at the 5 / 8 EMA cross. I put the s/l and t/p just before the closest resistance or support line (depending on whether I am going short or long).
But for some reason this strategy never works. I always lose (well maybe I win 1 out of 10 times or so).
Anyway, my point is I decided to make two demo accounts: 1 where I will be using the strategy (we’ll name this account “positive”), and the other (call it “negative”) where I will apply the strategy in an exactly opposite way (ie instead of going short I will go long and use the same s/l and t/p as in the other account, but switch them around, with some adjustments of course to take the spread into account).
What are your guys thoughts on this?
I am testing the two accounts right now already and so far the “profit” on the positive account is around -60 pips (for all 5 trades) and for the negative account the profit is 25 pips. Let’s see what happens tomorrow or whenever all the trades close. I am going to try this several times and if the negative account starts gaining stable profit (which would make sense since so far I’ve been getting stable losses using my “positive” strategy), I might even try this reverse strategy on my real account. hehe
If what you are doing isn’t working, then stop doing that.
For goodness sake you dont have an effective strategy. What else is there to say? Start with something that has a proven track record and see if you can replicate it in real time. Then go from there
Have you actually done any back-testing of this system at all?
I agree with Tony.
Start with a simple proven system, and go from there.
5 different EMAS? Meh. Ditch the system IMO. Start fresh.
that system sounds WAY too confusing. You need something simple to follow. Also…MA crosses are bad ways to enter trades IMO because you always get in after the move…
However, an MA cross on a larger TF might work.
Use the 200ma as your trend direction but scour the forum for a better way to time your entries. And remember, you don’t need 80 different indicators and you definitely shouldn’t be taking trades that are opposite what your signals say.
Yes, everyone is basically saying the same thing - Your strategy is not a good one.
[U]MA crosses never seem to work well.[/U]
The time delay with the indicators is too great.
I remember a very talented trader on this forum long before any of you came along.
His name was Elang and he had a very long and exciting thread on MA crosses.
Then suddenly it ended and he was looking for a new strategy!! :eek:
[B]So I agree with everyone else - find a proven strategy that works.[/B]
I suggest my own for a start ( Joy of Candlestick Trading).
This is a proven and thoroughly tested strategy.
Tested by our own people on this forum!! 
OK so all the trades (4 of them I think) closed on both accounts and surprisingly enough I got a net profit of 49$ on the “positive” account, the negative account suffered a loss of 62.5$. I am gonna trade more on these accounts and see if there is a trend (ie if one of the accounts will start gaining regular profits and the other would start gaining regular losses)
Another update: I opened more trades this morning and actually the “positive” account is growing. At the moment it’s at 219$ profit already. The negative account is at around 211$ loss. I really don’t understand why is it that I do ok on demo accounts but fail whenever I try the same thing on a real account. I guess its the psychology. I am attaching the report for the “positive” account
_tmprep2.pdf (13.1 KB)
i think the gains with forex is more difficult… but sometimes the strategy is more simple, more up that we think
To [B]Lakontis [/B]:
I hope you are paying attention to the advice that all us experienced traders have been giving you.
Otherwise we are just wasting our time. 
After all, you did ask for help. 