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Developing a system #19 (minimum 40 pips a day)

hello , my name is Raymond.

I have a system that can catch at least 40 pips a day in one currency.

the setting is :
EMA 10
EMA 26

BUY: When the ema 10 cross up ema 26 and the separate between the two ema is at least 8 which means
143.00 and 143.08 , so the different is 8 pips so we can enter a trade here when the prices is RETRACE at least 7pips or ema 10.
SELL : same with the buy condition which means wait ema 10 cross down ema 26

the problem with this system is i still do not know how to catch more than 40 pips i need you guys help.you can send email to me weisiong00(at)gmail.com.


http://forex-strategies-revealed.com/


Hi Ray, Can you explain in a little more detail please..What time frame do you use and can you be clearer on your entry/exit point... Thanks......Blinkers....

I think that there is merit to this system - to clarify, this is how I understand it:

BUY: When 10EMA crosses the 26EMA upwards and the EMA difference is 8 pips or greater.
SELL: When the 10EMA crosses the 26EMA downwards and the EMA difference is 8 pips or greater.

Close the position when the EMA difference has decreased to 7 pips or less.

Positives are that the system lets profits run quite nicely and signals are generally accurate.
Down side to this system is it is obviously trend based (as most are) and in a period of consolidation you will either get no signals or false ones which will be very frustrating.

As for your 40 pips, I would say don't get hung up on acheiving a specific number. Let the profits run and take all that you can get. Cut your losses short and wait for the next trade.

Clint

Hello
But do you backtesting in wich timeframe?

helo ray can you send me journays in respect to this your EMA method charlydaily(at)yahoo.com

Hi, everybody here .sorry for late reply because i got some important stuff to do . Oh, User , i only and only test it in 5 minutes timeframe.Don't try to enter in other timeframe you will lose a lot man!

emm, Blinkers, this system only for GBPJPY pair i am not testing in other timeframe if you can please help me to test in GBPUSD or GBPCHF also in 5 minutes timeframe!!
ok, i will explain it in more detail as below:
BUY: When 10EMA crosses the 26EMA upwards and the EMA difference is 8 pips or greater.
SELL: When the 10EMA crosses the 26EMA downwards and the EMA difference is 8 pips or greater. >>>>>>>>>>>>by Clint
the buy and sell entry is correct but you will always face a lose trade.
WHY??
It is because as i said above you need to wait the price RETRACE to either EMA10 or at least 7 pips.it means a signal come out when the both EMA is separate at least 8 PIPS and second things is wait the price RETRACE 7 pips (at best) or RETRACE to EMA 10 if the closing price of the signal bar is very far to EMA 26 .IT IS VERY IMPORTANT !!!!!!!!!!!!
"very far" means the closing price of signal bar is more than 10 pips to EMA 26.
i have test this system and the most favourable target i can found is 20 pips during Asian session and 40 pips from GMT 5 onward .
the exist point i also not very sure i hope any one here can help me .
ONE more thing you cannot enter a trade when the price is near weekly pivot.(less than 30 pips)
sometimes, you can straight enter a trade when the opening price of the signal bar is less than 10 pips to EMA 26.
Don't trade when it is a news announcement.

i update the the system already i hope can help you all

First , i hope you can try it out and give me the result that you can catch.
this system only suitable for GBPJPY only and i have back test it and i get 90% of winning trade and forward test and i get 22 winning trade out of 25 trade but due to i cannot adjust my emotion so i lose it.so here it is important to control your emotion if you want to use this system because in a whole day it can be 5 trade!!!!

TIME FRAME : 5 minutes

Currency pairs: GBPJPY

SETTING: EMA 10 AND EMA 26

BUY: When 10EMA crosses the 26EMA upwards and the EMA difference is 8 pips or greater.
SELL: When the 10EMA crosses the 26EMA downwards and the EMA difference is 8 pips or greater.

CONDITION ONE : when there is a buy trade is emerged (I call it as signal bar,when the price between the two EMA was separate is at least 8) and cross up ,YOU NEED TO WAIT THE PRICE RETRACE AT LEAST 5 PIPS OR MORE OR EMA 10.you only can enter the trade when there have a retrace !!!
For sell trade also same as above but opposite ah!!

THAT ALL.

TAKE PROFIT : IN ASSIAN TIME YOU SHOULD TP 20 PIPS
IN OTHER TIME SESSION TP 30 PIPS
YOU CAN GRAB MORE PIPS WHEN YOU MASTER THIS SYSTEM .TRY IT UNTILL YOU WIN.

STOP LOSS : 40 PIPS

ADDITIONAL NOTE : sometime you need to learn how to close early to reduce the stop loss level.

when you enter a trade and the price after retrace to EMA 26 within 8 candles i say RETRACE TO EMA 26 WITHIN 8 CANDLES.
Adjust your stop loss to 15 to 20 pips and try to break even.

sometime also when a price stop at a price three time you also need to close it early

Don't try to enter a trade near a new announment .

Don't try more than 5% of your capital

don't try to enter two trade in a row except the price stall for 2 hours or more and separate again that is ok.

this method is awesome man!
thanks for posted it here..

I have just scroll back the chart, and wow! I can see 2 min opportunity!
happy pips for all!

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