Paulaelli, I have to say that this system is working really well for me.
I have done some slight modifications to fit my trading style:
- I divide the entry in 2 (each one half of my allowed risk, for example 0.5% and 0.5%). I put a target limit in one of them at the same distance as the SL. If this target is hit, I move the SL to breakeven. Like this I get some profit and it´s better for me from psycological point of view. I let the other entry to run until EMA cross over again. Once first target is hit, I move the stop under/over the next support lower low or higher high.
- Exit: If there is a cross in the other direction than the entry, then I move the stop 20 pips under the cross, as it is also a signal to enter in the other direction. Like this I cut losses to the minimum if the trend goes in the other direction.
Just one question, do you have any recommended settings for other timeframes like 5 min?
Thanks for sharing your system.