I’m testing a new strategy based on daily charts. Using 5 EMA, 50 MA, and Trend Lines.
I’ll be testing the strategy and placing trades based on 5EMA and 50MA crosses as well as placing trades using TL’s and 50MA.
My profit targets and stops will be placed based on support and resistance, 50MA, and if none are in sight then high/low of previous candle.
I’ll be posting my results here as of May 1st.
“Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.”
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
[B]Hi UpTick,
When i first read about your strategy than it was 10 EMA also there but now seems you have removed it from your strategy…?
Trendlines are the extreme good addition in your strategy…Seem’s your entry is based on 5 & 50 EMA Crossing with breakout in right place…
Best of Luck…
PipHacker!!! [/B]
no… i never used the 10 EMA. my other strat (other journal) just uses range filters, stochs, trendlines, 50day MA, and pivot points. i use them for entry and exits. its traded on a shorter time frame… 5min, 15min, and 30mins.
this new strategy im testing is strictly using 5ema, 50day ma, stochs and trendlines. i’m using daily charts. testing out a longer term trading strategy.
[B]Hammm In Higher timeframes you have to increase your SL Also…Like -50/-100 Pip’s I guess …Specially In a Pip’s like Jpy’s related… My entry is based on Lower timeframes like hourly or 30-Minutes but i like to figure out the trend from 4-Hour’s to daily chart’s…
PipHacker!!![/B]
looks like i’ll be shorting EURUSD when the 5ema crosses below the 50day ma. almost there. if i don’t get the signal today, i’ll most likely get it tomorrow (unless eur bounces back up).
scanning other pairs, but signals already had been generated before todays start.
Short EURUSD at 1.5473
Target 1 at 1.5373
Target 2 at 1.5273
Target 3 at 1.5173 (or whenever technicals indicate a reversal)
Stop at 1.5625
Ok. got signal… going short on daily charts. 5ema crossed below 50day ma.
Trade P/L: n/a
MTD: n/a
DO NOT TRADE OFF THESE SIGNALS. I AM ONLY TRADING THIS STRATEGY IN A DEMO ACCOUNT.
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Target 1 hit at 1.5373 (+100 pips)
Target 2 at 1.5273 (+0)
Target 3 at 1.5173 (+0)
Stop moved to B/E at 1.5473
Hit my stop this morning at 1.5473 on remaining 2/3 of my position.
+100 on 1 lot
+0 on 1 lot
+0 on 1 lot
= 33 pips
Trade P/L: 100/3 = +33
MTD: +33
DO NOT TRADE OFF THESE SIGNALS. I AM ONLY TRADING THIS STRATEGY IN A DEMO ACCOUNT.
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Playing stochastics cross on daily. Stochs just crossed up and 50day is uptrending. I’m going long EURUSD. Let’s see what happens. If i hit the 50day at around Target 1, i might just close out the whole position.
Hit daily 50day and decided to get out. reached 1.5493… no need to risk to get that extra 4 pips. out at 1.5583.
Long EURUSD at 1.5497
Exit at 1.5583
Trade P/L: +86
MTD: +119
DO NOT TRADE OFF THESE SIGNALS. I AM ONLY TRADING THIS STRATEGY IN A DEMO ACCOUNT.
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
5/7
I’m seeing GBPJPY and EURJPY broke daily support today. I’m going short. Let’s see what happens. Just setting 2 targets on these.
5/8
Saw a nice drop and EURJPY and GBPJPY hitting both targets. Target 2 on EURJPY and GBPJPY were set right at 50day and it hit it perfectly.
Short GBPJPY at 204.42
Target 1 at 203.42 (Target 1 HIT +100)
Target 2 at 202.42 (Target 2 HIT +200)
100 + 200 / 2 = +150
Short EURJPY at 161.09
Target 1 at 160.09 (Target 1 HIT +100)
Target 2 at 159.09 (Target 2 HIT +200)
100 + 200 / 2 = +150 pips
Trade P/L: +300
MTD: +419
DO NOT TRADE OFF THESE SIGNALS. I AM ONLY TRADING THIS STRATEGY IN A DEMO ACCOUNT.
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Short USDCHF> See stochs cross down and 5ema hooking down.
Short USDCHF at 1.0500
Target 1 at 104.00 (Target 1 HIT, +100/2 = +50 pips)
Target 2 at 102.00
Short GBPJPY> Closed today below 50day ma. Also got a “peanut butter jelly” signal on this one.
Short GBPJPY at 200.92
Stopped at 202.93 (-200 pips)
Buy EURUSD> Closed above 5ema.
Long EURUSD at 1.5478
Stopped at 1.5378 (-100 pips)
Trade P/L: open
MTD: +169
DO NOT TRADE OFF THESE SIGNALS. I AM ONLY TRADING THIS STRATEGY IN A DEMO ACCOUNT.
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
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