Scalping system #6 (EMA Bands)
Submitted by User 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 pairs
Ema 3
Ema 5
Ema 7
Ema 9
Ema 11
Ema 13
Color yellow
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This looks like it has potential. I am programming it into my system for testing.
But I have a question: How is this scalping? I mean it looks like it could take minutes, hours or even days to complete a trade.
Hi George,
thank you for the highlight, this is a simple and effective weapon.
Let me quote it once again with accents on the main points:
"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."
So, we can trade breakouts above and below the candle that has all yellow lines squeezed within its body.
I want to thank George once again for this valuable comment and invite everyone to participate in discussion and research.
Happy trading!
Regards,
Edward
Probably yes, they serve for visual aid. However, I must say that what helps seeing better helps trading better.
Also I've found latest comments about EMAs squeezing on one candle quite interesting. I'm going to experiment with this new idea.
~Volter~
Hi Edward -
Thanks for bringing up my comments on 4-25 , re multiple EMA's , to the forefront again. I hope other users of this site , besides Volter will participate with their comments and observations , and do some testing /experimenting as well .
Edward , your first observation about trading breakouts above or below the candle with the squeezed EMA's is a good start. That's the kind of ideas we need to " tighten" the method up and avoid false entries and whipsaws .
Regards,
George
Dear Edward
What is the best money management in scalping strategies?
Usually I have 5 to 10 trades per day in scalping strategies, in every single operation should I risk 4% of my account? How much should I risk of my account per every single operation?
Regards,
Eduardo
Hello Edward -
Is there some way to integrate some elements of Complex Strategy # 4 to Tenerife ' s multiple EMA 's
method ??
#4 uses MULTIPLE ( 5 ) EMA's as well !
Regards;
George
Hi Eduardo,
I got a similar question recently.
So may be I'll refer you now to this page.
Thank you.
Regards,
Edward