You are wasting your time.
[B]because[/B]
[B]I want this system to work year in and year out in all market conditions[/B], that is what a profitable system is.
You have to do it yourself with your own ideas & [B]your own model.[/B]
Trading of other people’s ideas will not archieve want you want.
I don’t think you know what you want.
First you ask for a way to make 5-10 pips a day profit after spread cost & now you want a model to work year in year out returning consistent profits.
Why do you all talk in terms of pips, rather in terms of % profit per day/month?
I’m just a newbie, but to me talking in terms of pips feels quite imprecise regarding risk/profit certain strategy will bring.
Lose the word “system” and think “strategy” - you don’t use a “system” when playing chess or bridge; you think and rethink constantly of strategy.
As for pips instead of % or P/L - pips is the yardstick. 10 seconds in the 200 metre isn’t thought of as X mph. Use what you want, that’s the beauty of forex.
Hi Guys, at the weekend i met a friend of mine up town who trades equities professionally.
After a few catch up beers we ended up speaking about trading.
When i explained that i trade currencies and have done pretty well out of it he asked about my system, i told him (EMA STEP) and he raised his eyebrows, he looked at me and said “Haven’t you ever thought there was a simpler way?”
I said “Sure, but it works for me”…so he told me about a system he uses with his equities on position trades and a collegue of his uses on 15M currencies.
It is so simple it is staggering…honestly, i thought he was winding me up.
This is it…
15M TF
EMA/SMA (He said it doesn’t matter which with this strategy) 60
EMA/SMA 120
MACD Standard settings. (12,26,9)
Short Entry.
When Price is below both MA’s and MACD crosses downwards, short sell.
TP 20 (He trades equities not currecies, but says it’s usually good for 20points, or pips in our Forex lingo! lol)
Long Entry.
When Price is above both MA’s and MACD crosses upwards, long buy.
TP 20 again.
I have been trying this out and it seems to work, so what i need help with, is can anyone load this on MT4 and backtest? I use Oanda and haven’t used MT4 in years…wouldn’t even know where to start.
Or if anyone wants to try this themselves and post their results i would be grateful…Be interesting if this simple strategy works as well as my friend says it does.
Can anyone help with the testing of this???
I have tried a few previous entries, i entered one too early as i thought there was going to be a cross, and i entered one a lil too late as i wanted to confirm the cross LOL
I had a look at some today, and there is one happening right now on E/U.
Most interesting thing i have seen for ages.
Hi M. -
It would be nice if you would ask your friend’s friend (the currency trader) what pairs he favors. I have set this set up on an Oanda demo and it appears that with the 15M TF the slow trending Big 3 work best: E/$, cable, and E/GBP. Others have possible trades of course but the mentioned 3 seem to have the best runs after conditions are met.
I assume that one doesn’t wait for the candle to close if the 2 conditions are met, right?
I have had so-so luck with the EMA setup yet I know you have done well. I will keep these two going and see how things pan out. Good trading to you, d.
Most fascinating indeed…
I’m looking, NY not quite in full swing yet and LOTS of news coming in 1 1/2 hrs. I will look at my usual 7 prs. d.
edit: M - are you using a new platform? Doesn’t look like Oanda.
Yes it is Oanda Dobro.
The Trades box at the top is just because i forgot to remove it.
Other than that yes it’s still Oanda.
I have a question for you actually Dobro…
Have you found OANDA difficult to open recently?
Mine has become hard to open since about 2 weeks ago, also getting major slippage upon entry.
Have you exp. anything similar??
Well, i Trade 5 pairs and this sytem found an entry on all of them.
Allbe it not at the same time of same movement. EUR/JPY found a good buy this morning but completely missed out on a signal for the recent strong move to the downside, which incidentally was caught by each of my other pairs.
So this strategy certainly seems to work…for now…could really do with somebody backtesting this . .
No I haven’t but remember I trade late London-NY so maybe that is the reason. Not a good explanation but who knows? I have had trouble getting the O. news to open however. Again, the time diff?
Am beginning to like this system.
Have a feeling it will work best in trending PA though, not sure how effective it would be in a sideways market.
Still, the trend is your friend an all that, and today we have trends 
4 of my 5 pairs showing entries…all profitable.
So in two days thats 9 possible trades, with no losers.
Thats 180 pips.
STILL want to backtest this though…anyone…anyone??? lol
Hi Maurizio,
What do you think about using ADX to keep us out of ranging markets with this strategy? What name do you give to this strategy, anyway?
Thanks,
Bob in Wisconsin
It definitely works on my demo account so far. But I’m not fully relying on it. It’s just a part of my 10-20 trades per day approach. A welcomed addition. 
Are the two EMA’s 60 and 120? That wasn’t clear in the initial posting and the charts posted are too fuzzy to determine.
TP = 20, but what SL are you using?
Thanks,
Bob
I’m not a keen fan of the ADX, however that could be because i’m on Oanda and i don’t find their ADX as useful as it is on other charting packages.
If you can find a good use for it, let us know, i’m keen to hear any ideas on this system.
Which brings me to your next point…what do we call it?
No idea to be honest, it isn’t my system so i don’t feel i have the right to name it.
If you have any ideas, go for it!
I totally agree, i am still reluctant to rely on this system for any concrete gains, i am looking at this as another feather in my cap as opposed to a full-time strategy.
That said, i like the look of it in a trending environment so far . . .
OK, let me be really clear about this…
This was a strategy that was suggested to me when i had a beer with a guy who trades professionally for Morgan Stanley that i had not seen since i was at school.
He suggested it because he thought it could simplify things for me, and i wrote the details of it on the back of a cigarette pack.
If we talked about stop losses-i didn’t write it down, i’m sorry.
I guess that aspect is for us to work out, and that is exactly why i am asking for help on this thread.
I do however see some potential in this, from testing and a couple of (allbeit small margin) real money trades.
I guess we are on our own on this, but we have a good foundation.
Let’s work it out.
Sorry, yes, i am using EMA’s 60 & 120 on this.
I have been trading this on eur/usd, with a stop loss at the last swing high or low, depending on direction.
Only a couple of trades so far, but I have not actually been stopped out for a loss yet. Each trade has either hit my target price, or given me an opportunity to move my stop loss to break even.
Unfortunately my platform only has 15 minute data going back two weeks, so I can’t help with back testing. 
The strategy failed once on a 15 minute chart yesterday around 02:00 AM. It’s seem more consistent on H1 charts.
