FREE FOREX STRATEGIES

Scalping system #6 (EMA Bands)


This scalping system was sent by Frank Tenerife (Spain).

Thank you Frank! You contribution is greatly appreciated!

Here is the system:

"This is an efficient system of scalping that works in 1 minute up to 1 day all periods and all Currency pairs

Ema 3
Ema 5
Ema 7
Ema 9
Ema 11
Ema 13
Color yellow

Ema 21
Ema 24
Ema 27
Ema 30
Ema 33
Ema 36
color Green

Ema 55 Color Red

And Way Works is

Buy Or Sell When the Group of Ema`s Yellow Breaks Ema 55
Take Benefit When Yellow Group Touches The Group Green.

If The Yellow group does Pull Back in Ema 55 or In Green Group Buy or sell again

Take Profit 10 Pip in Breaks Ema 55 And take Profit 5 pips In Pull Back

Stop loss 5 Pip 5 Minute Periods

The Good thing is Works with All periods and all the Currency

Forex scalping strategy

Grasias
Frank Tenerife España "

Happy scalping!

Edward Revy,
http://forex-strategies-revealed.com/

Copyright © Forex Strategies Revealed

Thank you, Thomas, thank you everyone for your great ideas and interesting discussion!
The topic has grown to over 20 pages and it is just the right comfortable reading limit.
Comments for this strategy are now closed. To continue discussion, please use our Forex Forum, where you can create a new discussion topic.

Follow the Link to the current discussion: http://forums.forex-strategies-revealed.com/post1823.html

It is better to use 5 min as a main chart and 1 min as a reference for a better entries and exits.

Good luck!
Thomas

Hi,

has anyone used this system on a 1 min chart.would appreciate feedback on it.
thanks.

Check out this idea from Edward,
I found it while reading about another EMA based system:
http://forex-strategies-revealed.com/trading-strategy-ema/cpage-14

Rich

My view is to put a fixed stop when Short - 5 pips above the candle with highest high in the swing, when Long - below the so called bottom of the swing low.

Thanks Rich.

What will be the best way to set a stop loss for this system then.

Thank you.

Try setting a stop closer and it'll be hit.
A tight stop is only possible when you trade with Support & Resistance levels, triangle & wedge & channel breakouts and trend lines, well, and Fibonacci too.
With other indicators you'll always get delayed (although confirmed) entries, which cannot be constraint within tight stops.

Cheers,
Rich

Hi

I use the (MACD 5,8,9)and SAR to trade this system using the 15 min chart.However,i have noticed that using the SAR as the stop loss results in a huge value of stop loss as compared to the profit that i make.Any advise anyone?

Thank you.

Hi Jon,

The best entry point is when all EMA groups are aligned as suggested in the strategy and we have a cross of 55 EMA with price closing on the opposite side of 55 EMA and at least 2 yellow MAs should also cross the 55 EMA.

Also for me there is a second opportunity on price pullback, which you will need to watch closely (I usually draw Fibs to help anticipate the depth of the pullback), and then try to enter at the lowest possible point (around 0.618 Fib) of that retracement. Basically, this system counts on visual trading and recognizing familiar patterns more than on anything else.

Regards,
Edward

HI Edward

What would be the Best entry point for this system for Scalping?

Thanks
Jon

No, there is no forum yet with live trading signals(discussion) for this system.
You can initiate a discussion here: http://forums.forex-strategies-revealed.com/

Thomas

Hi!

Is there a forum where trades according to this system are recommended or discussed?

thank you.

Absolutely, Shawn.

Regards,
Edward

Edward,

Is it possible to get 10 pips a day with this strategy?

Shawn

Hi,

you need to construct the bands yourself, but using Moving averages (EMAs) from 3 to 36 as described in the strategy rules.

Regards,
Edward


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