Scalping system #6 (EMA Bands)
Submitted by Edward Revy on July 19, 2007 - 18:54.
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
Ema 3
Ema 5
Ema 7
Ema 9
Ema 11
Ema 13
Color yellow
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hi, i from malaysia, somewhere in south east asia...
i use this method and find a quite interset thing.
i found that the at time 17:00 malaysia time(GMT +8), if this system show the trend will go up, then i long that pair, normally the trend will long lasting for 3 hours, and it's make 40-70 pips to me constantly. if u want make profit, just need to adjust your stop loss accordingly. by the way i'm using 5 min chart and 25 pips stop loss.
Edward
In this strategy do we wait for the whole group of yellow ema's to cross 55 ema, or even the first 2-3 would suffice the entry signal. Actually all the ema's appear in one straight vertical edge, and by the time we wait for the whole group to cross, the price already moves appreciately.
Please comment
Also do you have any forum where we can share live trading plans. Actually most of your strategies are okay, but its the discipline which one can't maintain and eventually loses. So if we all share live trading plans, we can help others from mis-interpretation of the strategies or slipping out of discipline.
Thanks
Khurram
Hi Khurram,
As per strategy rules we need the whole yellow group to cross the red line.
Do I have Forum? Yes, of course, please visit http://forex-strategies-revealed.com/forum
Regards,
Edward
Hi Edward -
I have seen the term " Upspike " ( in reference to a bullish candle) . Does this mean a big candle body , or the upper part of any candle b
body regardless of its size , or is it referring to the candle's shadow ??
Thanks ,
Fraser
Hi Fraser,
The term "spike" is used when price sharply shifts in one direction and then in the same quick manner returns back.
"Upspike" can be referred to either one or both: long candle body and/or long candle's shadow. Most of the time the spike's distinctive attribute is a long shadow.
Regards,
Edward
Hi Edward,
There are better momentum signals if EMA(55) is changed with SMA(30) applied to (H+L+C+O)/4
Thanks,
Nick
Thank you Nick,
I'll check it out.
Hello Edward ,
I have noticed that when all , or even most , of the yellow lines squeeze close together on one candle ( any size ) , there is usually
an immediate strong move up on a green ( long ) candle or down on a red ( short ) candle . It gets you into a trade earlier. I wonder if
anyone else on this web site has noticed this .
Regards,
George
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