For basics you might try going to “Investopedia” for explanations. Also good ol’ Google.
That information is already in the thread in detail how I use it.
Do you ever join/re-join when the price bounces off the 7 ema? or do you only us the 50 ema when doing this? sometimes I find the distance between the 7 and the 50ema so far, and then it takes long time before you can enter when bouncing off the 50ema - therefore my question.
Again, trading the fundamental method is the least risky way I can think of. Deviations from it enter you into trades that reduce your probabilities of any or more pips per trade. You may not earn as many pips as you would like trading this method strictly, but the pips you do not lose should make for profits at the end of the week. This method was created to reduce the number of pips lost, not to generate the most possible pips per trade. I have shared a few ways I trade to show that deviations can make pips, I am working on another way to trade Simple 7 now as a matter of fact. 
I am very grateful to you for help
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Show me the money! [Swing Trading]
the 21 EMA system. Simple but it works
Basically the guy goes long/short when candles go above/below the 21 ema. Im going to try combining this with the simple7 hence introducing a 3rd ma to try to eliminate more whiplashes and get better entries
Personally before I read your system I did the exact same method but I used 10period EMa but not the 50 ema I have to admit I did see that one I tried the 30 & 62 EMS the rsi tried it before but not like you said also I tried the and back tested both strats on the 4hr and daily charts now the daily charts are profitable and using the rsi as a filter but it’s safer to trade 15 m and 1 h
I took a one mini short on the A/$, 15M TF; it was against the 4H trend and I lost. Thought the pullback would be better but the main trend prevailed - lesson learned.
I wouldn’t use the 4H chart to find the main trend though when trading the 15M TF, I only go 4 times the TF I’m trading, in this case that would be the 1H chart, I may go to the 4H chart but I only pay attention whether the current candle being formed is a bull or a bear. There are 16 15M candles per 1 4H Candle. Think about it.
Sounds logical so how do you set TP & SLs? I have used fractals & close by S/R but still tinkering with these. Thanks for posting.
When scalping I always set my default S/L at 12 pips in case the market just spikes on the opposite direction ( avoid trading and close all positions before news releases, when scalping only), I like smooth charts and stay away from currencies that shows spikes up and down all over the place. I like smooth trends and they don’t have to move fast either as long as they stay consistent over the 7 ema for longs. If you have access to a 20 minute chart use it and make sure you follow that trend on the 5 minute chart if you don’t then just make sure your 30M and 15M chart are trending on the same direction as the 5 minute chart. Personally I don’t like setting TP but usually if I get 30 pips I close it, just like I did today on the EUR/USD or I just wait for the candles to tell me what to do like a shooting star or a hammer a doji something like that, and without exception if the candles ( the whole candle) goes under the ema7 line I exit and I take a break for about 30 minutes and come back and look for another entry point. My favorite entries are when the 7 ema crosses above or under the 50 ema and I wait for the price to retrace to almost touching the 7 ema line and enter then I just sit back and wait for a whole candle to go under or above (depending of the trend) de 7 ema to get out or if I get to 30 pips I usually get out. Second favorite when candles are trading between ema7 and ema50 ( let’s suppose that is trending up) I wait until they go over the 7 ema and wait for the first retracement where the price almost touches the 7 ema and then get in. 3rd way to enter is to make that there is a nice clean trend ( no choppy market please) wait for a retracement where the price almost touches the 7ema and enter, if I enter this way on the eur/usd or gbp/usd I usually take between 5 to 12 pips only. I hope this helps and here’s pic of my trade today on the eur/usd using my second favorite entry plan.
Thanks idude and just to be clear you are trading the 5M after confirming the trend on the 30M & 15M - is this correct?
Yes, going higher than 5M on the time frame I don’t consider it scalping.
I often cannot watch my trades and have struggled with this issue… One way I have overcome this is to set TP for 9-15 pips. “Like”
hey
how is this strategy working for you so far, can you if post some of your results?
also have you modify the strat since you post posted it?
and what pairs do you use this on?
Even though my time is limited when it comes to scalping ( I like to do it when London’s session opens, around 3am here where I live) so far this is the best scalping technique I’ve come across but it also depends on the person, if you can eliminate the choppy charts and crazy spikes (like around news releases) then you should be able to be profitable. I do have a job with a crazy schedule but I might be able to scalp for a couple of days next week we will see how it goes, I will post my results if I do trade. One thing I’m going to do different is I’m going to enter 2 orders with the same s/l of 10 to 12 pips depending on the pair that I’m trading, with a t/p twice of that with one order and leave the other opened and move the s/l 10 pips above or under the entry price when the first order gets hit. I don’t trade more than 2 pairs at the same time but I use it in every pair as long as they have a spread of no more than 3 pips. You should test it yourself and see how it could work for you. You can also paper trade it with trade interceptor (paper trading is different from demo trading, TRADE INTERCEPTOR | FOREX VIDEOS) you can paper trade on the weekends if you want, when using trade interceptor. Because it goes by candle and not by tick to tick, just make sure when you see a candle with the bottom or top almost touching the 7 ema ( this where you would enter) take notice of the low of that candle and go back one candle and put an entry order so you can be more exact on your entry, if you don’t then when you enter it will enter at the price the candle closed at, this is better then using mt4 by going back and look at possible entries because you don’t see the next candle and you get to see how your trade develops as if it was real, trade interceptor uses historical data it’s not simulated data, you get to choose the day in the past that you want to trade. It’s a good way to practice in the weekends anyway.
By the way paper trading with trade interceptor pauses automatically every time you enter a trade or hits the s/l or t/p you have click play again after it does any of these.
I almost forgot I also draw major resistance and support areas using the 4H time frame and use last day’s pivot points.
Its a nice and easy system to follow . Thank you
how have you guys got on with trading this strategy ?