“you say to use a 10 ema. do you have any experience in metatrader 4? if so, how do i get the ema to come up? right now they have an indicator of moving averages (but i am not sure if that is the EMA or SMA).”
The moving averages built into MT let you choose SMA or EMA. When you double click it or drag it to the chart it is one of the choices in the properties. Choose exponential and a period of 10.
Hi Goji Lover,
I just spend an hour going through the thread from the beginning.
The results you achieve is just inspirational to people like me(newbies).
I guess what makes it work is not only the strategy but more importantly your discipline to see your rules through. Using the same system may not get the same result for another person.
Can i ask you to summarise your strategy if its not asking too much. Along the way since the 1st tread, there has been some changes from your original plan. I kinda got lost a bit.
Some questions.
I will demo trade them once i’m clear on the strategy so im looking forward to your reply.
Thank you and keep this wonderful tread going.
HI all,
teddy, i’ll answer questions later.
first trade, nice start for the day:
7:54 short 1.2525
7:54 exit 1.25125 +12.5
later
g, b
8:30: news, the spreads at oanda opened greatly, e/u was at 10. the spreads usually tell me where i want to trade for the day. if u/chf is 2.5 or lower, i may trade u/chf. here’s where i consider the choppiness, though often u/chf is the opposite of the e/u.
later
ok, this is why i will not write anymore during trading time. i just missed a long trade on e/u from 1.2535. oanda’s spreads had changed back to .9, so i would have taken this trade. anyway, it would have been a +12.5, and i may have then quit for the day.
much later
well, it’s not much later, but i am quitting for the day. our last trade:
8:53 short 1.2520
8:55 exit 1.25075, +12.5 hit TP, +25 for the day.
since this trade was a positive trade, i am quitting for the day. i am still upset over the missed positive trade and i do not want to do something foolish. numerous BEs do not upset me, even taking many of the small losses that i take do not upset me, they are part of this business and we really have no control once the trade is placed. ALL THIS SAID, I HATE MISSING WINNING TRADES AND THIS IS TWO IN THE LAST COUPLE OF DAYS. NOW, THEY WERE BOTH MY FAULT, BUT THAT DOESN’T MAKE THEM ANY EASIER TO TAKE.
nov. total; 218.3
SEE YOU TOMORROW,
goji, bernie
Been playing with this in demo off and on for about 2 weeks. Did my first “real” trade today on e/u, took 20 pips (my exits are not set automatically like yours goji). Short at 8:54 1.2520, stopped out at 8:59 1.2500.
great trade, ry, i was in on part of that one. good job. go back to my previous entry, i have closed for the day. i missed an earlier trade and that really TICKS ME OFF!
LATER
I didn’t even look at the chart until 5 minutes before I made my entry. I trade a different system normally on a 15 minute time frame. I had some time and remembered I wanted to try your system live and what do you know, a signal appeared almost right away.
Buy e/u at 9:25 1.2514, set stop loss to close and too quickly at 9:28 1.2518. I missed a good move up by moving my stop loss too early, better than a loss though! 
goji, attached is an image of the trading system i am working with. the candle my mouse is pointing to shows a close of 1.2529 this morning, well below the 10 ema. my next move would be a short entry point @ 1.2530, correct? i dont seem to be getting the volatility that you are getting in your trades or something. max i am getting is a 6-7 pip profit (albeit a good profit) but i was just wondering if i am doing this right, looking at the right things, etc.
any insight would be greatly appreciated
Hi goji thanks for posting your system. I am a total newbie in forex trading so bear with me. 
I wanted to give it a try on my demo account and also test with history data by forex tester. in forex tester I was only able to place a buy stop order 11 pips above the market price. on my demo account I was asked to place buy stop order 50 pips above the market price. I assume the system would not work under those conditions would it?
I wanted to look at your previous trade record. What time zone do you use in your post?
About your stop loss strategy. In your first post you stated a S/L of 25 pips. However it looks like that you close your trade when the candle recross the EMA line.
HI ALL,
i have settled down. i admit to being annoyed with myself. oh well, there is always tomorrow.
i have some answers for some questions:
teddy,
db,
blues,
i hope these answers help all of you and then whomever else.
later,
goji, bernie
hi all,
OK, i said i wasn’t going to do this, it will be fast.
it is now 8:23, retail sales at 8:30 am, minor mover, so i am on a break.
two trades thus far:
7:40 long 1.2700
7:46 exit 1.2705, had been to 1.2711, moved S/L to 1.2705 +5
8:05 placed order; 1.2695 short
8:06 executed short; 1.2695
8:07 exit 1.36825, hit TP, +12.5, +17.5
later,
g, b
it’s later,
i am quitting for the day. my last trade was a loser. just as i do not like to have a winning trade turn into a loser, I DO NOT LIKE TO HAVE A WINNING DAY TURN INTO A LOSING DAY. therefore, i will add in my 7.5 pips today to my november total and wish you all a wonderful weekend.
notice in this trade that i waited 15 minutes before it was executed.
8:45 placed order; 1.2685 long
9:00 executed short, 1.2685
9:01 exit, 1.2675, hit S/L -10, +7.5
the +7.5 allows me to end the day a winner, and that is much better than ending the day, thus week, on a losing note. i’ll always take that!
november total, +225.8
goji, bernie
Goji,
I looked at your entry at 8.05 and checked the price quotes on the 5mins TF for Eu. I don’t see the price below the 10EMA.
At 8.05, the price quoted was 1.2720(High) and 1.2703(Low).
Why did you short that when it was above the EMA?
Just wanted to calibrate.
Regards
I’m sorry Goji,
Your 8.05 was mistaken for 7.05. There was no mistake on your part.
I’m not trying to find faults in your postings. Just trying to learn as much as possible from your trading as i really feel that your strategy as well as trading attitute is spot on.
I’m from the far east(Asia) and got mixed up with the time.
Keep up your postings. It has been an excellent learning experience for me.
I am paying lots of attention to your postings because i think its the most mature, realistic,practical and doable strategy among many and i have read almost all the strategy in Babypips forums.
Thanks again.
hi teddy,
i’m glad you gave me the high and the low. in my time zone EST, that candle occured at 7:05. had you been working that trade you are right you would not have been entered until a couple of candles later at 1.2690. where do you live? i’m not sure why we were an hour off. in this case, following the rules would still have gotten you a positive trade, but that may not always be the case. i hope this clears it up for you.
g, b.
ps. just caught up with your second post, thank you very much for the excellent comments. no, i did not think you were challenging my trades, they are reported as accurately as i can make them and i am actually doing these trades. i have been in your shoes before, thus, i understood what you were asking. the one problem with using oanda is that i can not take a picture and post my trades so the visual learners would have greater insight.
hi all,
i had some time this afternoon so i thought i would write something that may help out some of the newbies, and anybody else for that matter, that are following my threads. if you noticed today, i quit with a profit of 7.5 pips. initially, to many of you that may not seem like it is very much. i beg to differ, however. first of all, i was a winner today and that should be your ultimate goal each day. this may seem obvious but think for a minute. let’s say i would have put off one more trade and it was a loser. well, i could have quit then, or worse yet, put off another losing trade. one way or the other, all week end long i would be thinking that i was a loser. i hate to be redundant, but I HATE LOSING. I HAVE ALWAYS HATED LOSING. i have been an athlete most of my life, I HAVE ALWAYS HATED LOSING. no matter what i am doing, I HAVE ALWAYS HATED LOSING. OK, enough! i think you are getting the point. over this weekend, i will not be thinking that i am a loser. yes, my last trade was a loser but i still made money on the day, SO I WON. now, this may not be important to you, but it is to me. anyway, now you know my reason for quitting today.
secondly, and this may be just as important. that 7.5 pips could be:
$37.50 per week and $150 per month
$375 per week and $1500 per month
$3750 per week and $15,000 per month, or
$37,500 per week and $150,000 per month
now, i do not know the size of your account, nor do i want to know, but those 7.5 pips today, and every day for a week, or a month, could produce massive amounts of money for you. also, i only worked for an hour and a half today to produce the 7.5 pips.
OK, the rational to all of this is, do not think that you have to hit home runs all the time, the key, as it always is, is to keep your losses small. BREAK EVENS ARE NOT LOSERS, EITHER. all this said, the sermon is over.
Hey Bernie,
Thanks for the reply. I now understand your system completely especially thanks to your daily trade posts. It helps me gauge EXACTLY when you’re supposed to trade. I had one question for you:
Do you trade during 8:00 am -11:00am due to personal preference and/or availability, or has your research in this system shown that this range is the most profitable throughout the day? Thanks!
hi pipnewb,
i have answered this before, but maybe you missed it. first, i would be getting up around 7:30 am anyway. then i found out that this overlaps the european, british, and us stock market sessions. i think in baby pips, way back when, i also read that this time represents the time of most activity world wide. i did get up early one morning this past week and couldn’t get back to sleep so i decided to check out forex. a trade came up, i took it and it was a winner. anyway, this is my story and i am sticking to it!
later,
goji, bernie
Bernie-
oops… sorry if that was a repeat! you being the only one to answer questions-- i can see how that can get annoying. Anyways, thanks for your response, i can see where you get that idea from. until next time!
rico
Goji,
This is the reason why i am into this tread. Its not so much the strategy or system. I believe many system works if not all.
I want to be able to follow and be guided by someone out there who can impart this kind of wisdom and common sense which i believe is the key to survive and eventually make it in forex trading. I find that in this tread. It just that we know and have read this somewhere but following this tread is like being hand held and walking the talk( as oppose to just reading so much on Money management/ Pyschology Theories in books and internet)
Hope you guys understand me. My English is not so good.
Goji…you rock.
hi boys and girls,
i was bored. i have sunday night football on, but am not really interested. earlier, i was listening to andrew spanton’s week ahead show on global fx radio. any way, while listening, andrew felt that shorting the u/y might be a good idea at 97.00. so i decided to watch and if something occurred according to my system, i might enter a trade. andrew was suggesting this because of the G-20’s inability to get anything accomplished over the weekend. he was suggesting a TP of 100 and a S/L of 100, i think. i decided if anything came up i would cut my units in half and double up on my usual TP and S/L that i use on the e/u. alas, a trade appeared. it is live right now so i can not say how it will turn out, until it does. anyway, here’s the trade:
9:35 entered short order at 96.85
9:46 order executed at 96.85
well, that didn’t work out very well!
10:12 exited 97.00 -15
oh well, this may turn into a good trade eventually for andrew spanton but according to my rules, it did not work out for me. i’ll wait for tomorrow morn.
goodnight,
goji, bernie
