Hi @Glantos, just noticed should that alert be on bar close as in ‘Once Per Bar Close’ to avoid false signals?
Cheers Nathan
Hi Nathan @rocktrucker ,
Not sure which of the 2 options is better (for the moment, I think the choice of Once Per Bar is working for me). I prefer to get the signals as soon as possible, perhaps @AmericanTrader can give us an advice.
@dastultz is there a way I can slightly lower the High 32 EMA? It could have given a very good selling signal as shown below:
I used your strategy to get into a EURJPY trade on the 8hr last night. Right now, up 83 pips! Moved my stop past BE already.
Sweet!
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Thoughts after I missed that last sell signal- I’m finding taking every signal the 14/32 ema cross provides generates the most consistent results. There are certainly signals that will stop out for a small loss, but more wins with more pips overall. My biggest setback this week and last has been trying to avoid choppy or ranging markets and missing great signals. By the time I wait for the trend to trade with, I missed the boat.
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@elitetrades I agree with every word of that. The win ratio is sufficient to be an overall winner every day even with a minor stop out here and there. It’s much easier. And the most important thing is that it forces you to trust the system.
Already got to add an addendum here. Even if you traded on a rangy choppy market all day one day and did nothing but lose. You still had a profitable, winning week. It’s all about perspective I suppose
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What’s been your exit?
@AmericanTrader I’ve been using your strategy for a about two weeks I know you said only use it on eurousd but I tried it on us30 and it seems to work great been raking in some nice profits for past two days. Thanks again for this beautiful strategy
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@Lionel1 that’s great to hear. I looked at it on several different forex pairs and it looked like there were not as many trade opportunities per day. But there will always be time when it would work on all of them. I have been reviewing the system for longer time frames on some pairs to see if it looks like a good option for myself.
Agreed across the board. “Trust the system” will be ringing in my head every time I get on the charts.
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It’s killing me to watch! Last one I will miss if I’m trading.
@elitetrades it’s painful to watch. This is my life everyday while I’m working. I’m watching people making these 50 or more extra pips per day while I’m driving around making less money than if I just had the guts to trade full-time.
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@jdtradesfx not sure if you were asking me but I’ve been basing exit on my SL… setting SL just outside 32 ema channel when entering I try to set up at 1.25 RRR for exit. Minimum 1:1, higher if the entry is not on a big breakout candle. I will take into account recent support/resistance zones at set up as well. I favor trailing a stop loss and getting to break even if the trade moves in my favor quickly. My exit is likely to leave pips on the table, but as a scalping strategy I believe keeping RRR modest and win rate high is the key to ending up profitable in the long run.
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Thanks for the response! We seem to trade similarly.
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which indicator are you referring too
Check the links in the summary section of the first post.
Tradingview indicator. MT4 I think you have multiple indicators to get there. Two separate platforms. Your choice.
Hi @AmericanTrader,
What PSAR settings are you using on this chart? I see reading from the posts that you use different settings from time to time.
Great work by the way on this strategy.
Cheers @rocktrucker
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