[QUOTE=“Fotovinic;717834”] Hi Snipes, thanks for the prompt reply. Yes I’m actually using FP’s system as my base template and also added both the 2 and 8 LWMA for further reference. Personally I’ve observed that when they cross, trades are pretty much accurate based on past patterns. But I’m a little confused when it comes to holding positions because right not im long on AUDUSD as the 2 LWMA did a cross on the 8 signalling for me to enter long earlier. However, it has reversed and now it seems like the trade is going too continue short. Do I get out or do I hold? Thus my question on whether we should let the lines cross tangibly and trade at a time we can confirm that it has crossed without being faked out.[/QUOTE]
Jay added the fib as well and this helps me as well as S&R. This I think we haven’t mastered yet. And this being a longer term strategy, there is a lot of up and down. I have had trades that went -80 pips and then reversed to 90+
Unfortunately i don’t have my laptop with me so I can’t really comment on AudUsd for u.
FOR AUDUSD I would get out, once the 1 and 4 cross in the opposite direction of your trade, I would take that as a exit signal. Audusd is kind of rangy past month so be carful with that pair. I would always let the lines cross for your next question, if the lines are riding each other like very closely together and cross, that’s a fake signal, it was most likely ranging there. If the lines have a gap between them and than cross over, that’s a valid entry if it meets the rest of our rules. Always let the lines cross and after they cross make sure there is some kind of gap between them after the cross to make sure they are not just gonna ride each other after the cross, that could end up in a range too. I use fibbonacci and when price is in the 50-61.8% zone and finding support or resistance there, that makes for a much stronger signal with the 1 and 4 cross over. You can use the top/bottom of the Fibonacci as your TP as well as SL, but SL might want to go bigger depending on the pair and situation.
I also use bolligerbands, but I use them as a breakout, so if price breaks out of them, and I’m getting a signal in the opposite direction of the breakout, I got a stronger signal for that positon than.
I like the idea of the 100 and 200 SMA i’ll check that out too.
Looking at the EURJPY for a long, 1 and 4 MA crossover, Coming out of the 50% fib, could struggle at 138.80, but we have made higher highs than the past month and we seem to have started a new uptrend, so if correct, we should make a high past 138.80 but lets see!
EURNZD also looks ok for a long too
Both above 200 ema
coming out of 50-61.8 fib zones too
Morning Guys,
was able to snag a total of 75 pips between the eurusd and eurcad pairs. Although the eurgbp looks tempting to go long, the pair is in a downtrend and I suspect that it will be falling again soon.
The eurnzd looks like a sure bet to go long. Although the 2/8 emas have crossed, the 1/4 emas are about a millimeter away from crossing. I will wait until there is a definite cross.
The eurjpy now looks good for a trade.
I realise that once both have crossed and I’m going in the direction of the trend, I can place a trade with a great deal of confidence.
ALL my trades placed thus far (about 5) have worked out well. A wonderful thank you to Snipes an Jayboii478 for starting this derivative thread.
[QUOTE=“chiniebwoy;717886”]Morning Guys, was able to snag a total of 75 pips between the eurusd and eurcad pairs. Although the eurgbp looks tempting to go long, the pair is in a downtrend and I suspect that it will be falling again soon. The eurnzd looks like a sure bet to go long. Although the 2/8 emas have crossed, the 1/4 emas are about a millimeter away from crossing. I will wait until there is a definite cross. The eurjpy now looks good for a trade. I realise that once both have crossed and I’m going in the direction of the trend, I can place a trade with a great deal of confidence. ALL my trades placed thus far (about 5) have worked out well. A wonderful thank you to Snipes an Jayboii478 for starting this derivative thread. David[/QUOTE]
Good work there Chiniebwoy.
You welcome, we all will make a success with the continuous positive replies.
Really impressed with all you guys, look at that huh? We are all making some great pips! Good work everyone really, a big thanks to everyone participating in this journal!!
Hi guys. The 2 LWMA has crossed the 200ema line on EURUSD. However, it has been sometime and price is indeed going higher. Should I take the trade now since it has crossed a big ema.
2nd question:
At how many pips do you guys lock in profits and move s/l to breakeven?
are you trading the MA’s right on your chart or are you trading them in a MACD?
2nd I move to break even at around 75 or so pips. Than you can move you SL up 25 pips evertime price goes us 25 pips. Or do like a 75 pip trailing stop loss or 100 pip maybe is better.
I don’t see that, I only have the 200 EMA and now the 100 SMA on my chart, I never have any of the LWMA of my chart only in my MACD, I have a android app that I can still keep them in my MACD :43:
If I add the 2 LWMA to my chart though it is still below my 200 EMA
Are you on the daily timeframe?
Evening gents,
jumped in some trades on 4 eur pairs at the start of this evening’s candles on the eurusd (short), eurcad (long), eurnzd (long) and eurjpy (long) and all tp positions were reached for a total of 190 pips!. Freaking amazing. The key is not to become too greedy; the moves were strong but my tp positions were set at between 40 and 50 pips (which was at a major S/R level in all cases).
System really works well in a trending market…
My account has grown 7% in one week. I’m tempted to start risking more than .05 lots…but seeing that I’ve been at this point before in my trading many times, only to see it falter, I’ll stick with the .05 lots and continue to build my confidence with this strategy. I’m also tempted to look at the more than 15 pairs I’m tracking (yes, I added six more pairs since Tuesday…sigh) but I’ll also resist that temptation.
[QUOTE=“chiniebwoy;718014”]Evening gents, jumped in some trades on 4 eur pairs at the start of this evening’s candles on the eurusd (short), eurcad (long), eurnzd (long) and eurjpy (long) and all tp positions were reached for a total of 190 pips!. Freaking amazing. The key is not to become too greedy; the moves were strong but my tp positions were set at between 40 and 50 pips (which was at a major S/R level in all cases). System really works well in a trending market… My account has grown 7% in one week. I’m tempted to start risking more than .05 lots…but seeing that I’ve been at this point before in my trading many times, only to see it falter, I’ll stick with the .05 lots and continue to build my confidence with this strategy. I’m also tempted to look at the more than 15 pairs I’m tracking (yes, I added six more pairs since Tuesday…sigh) but I’ll also resist that temptation. David[/QUOTE]
Hi David
Well done there! Same here, one can gain that much with one pair at times but its about not being to greedy like u said hence i closed off early yesterday.
Hi David, glad that the system is working. It boosts everybody’s confidence too. Thanks for sharing. By the way, you said that your TPs are usually set at 40 to 50 pips. If that is the case, how do you manage your stop losses? How many pips SL do you place when you open a trade?
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