FREE FOREX STRATEGIES

Scalping system #12 (Three EMA's scalping)


Submitted by Peter

I use scalping on three EMA's: 10,21 and 50, on EURUSD 15M, focusing on the 10-EMA to cross over both, 21 and 50 EMA. After a close off the 50 I enter, setting my Stop 5 pips above last candle (the one, which closed off 50 EMA). I do not set a fixed Profit, however change frequently to the 5M to observe if a reversal is near, which would be my signal to exit. For orientation I use ADX 14 with it, however just use it to check/orientat (+ above _ or vice versa, pressure/momentum etc.).

I do like convergence set-ups as they are pretty safe from my experience. For example do I use a combination of two averages, say 50 and 100 EMA and check their relation with overbought/oversold. I buy when the averages are in buy and the market is oversold and vice versa. One can use several Indicators for the identification of overbought/oversold. Pretty save shot on the longer charts, say at least 1H.

Very good system is Complex No. 3, Divergence, top system, which I like very much.

Well that's it in a nut-shell.

No! something else: I do not believe in un-observed trades, I close at the end of NY-trade in time, even if I have to accept a small loss.
Also am I not exactly a friend of trading robots, I find these quite invasive and some even quite pompous/indecent by arguing with this life-style-BS (sorry). What I also observe is that certain of these sites recommend each other in a circle, which is more....

Cheers from sunny "No-Problem-Country" Jamaica
Peter


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

Copyright © Forex Strategies Revealed

This is an example of a MA channel. Not that difficult. If you cannot determine your own SL or TP, that is your fault. If you are trading the 15M, odds are you are only looking for 15 or 20 pips. Set your SL half of that. Rarely does a channel give a false reading.

Waiting for the 10MA to crossover on a 15m chart seems to take quite a while. It happens only once or twice per day. Thats's not really scalping

Hi Branchis,

please follow the steps on this page.
Copy the template (.tpl files) to /templates folder.

Best regards,
Edward

Dear Ed,

How to copy and download your template into my MT4 system. PLs send me an email at branchissimon2004(at)yaoo.com
Thanks

Branchis

this system suck

Hi guys,

Regarding FX Sniper indicators, I never used them and can't be sure about the exact interpretation. I'm sorry.

Now, regarding math question. I'd agree that it is a game of numbers to some extent.
Take Elliot + Fibonacci sequence, the study of cycles, Gann theory, certainly add daily range average for currencies - there is a lot to work with.
I'm going to copy your message to our Forum board, so that everyone can see it and hopefully there will be math savvy people to join you. I'm far from being a dedicated mathematician.
Link: http://forums.forex-strategies-revealed.com/mathematicians-join-the-proj...

Regarding exits, you have to keep in mind that if you want you get the maximum from every trend, you need to let your profits run without setting profit targets. This will do the job, but take some profits back when a trend is finally over.
On the other hand, if you set a profit target, you'll be exiting without giving anything back, however, you won't be able to catch the entire trend top to bottom.

Best regards,
Edward

Well am new and have seen alot of strategies here but the challenge am having here is that forex is a game of numbers and as a mathematician I believe that there is a constant amongst these numbers.

i have about 26 strategies but they all have the same problem. exit points. even when they give exit signals i must loose some pips because they are all lagging indicators. Please if there are any mathematicians in this forum i want you to take part in finding this constant.

whats more i believe that a point where the constant,average and probability intercepts will be a signal to enter and exit the market but i am having a challenge working out a formula for this. this is a non profit project and would want to work with other mathematicians too.

I still believe there is a code to be cracked in forex trading and i wont rest till i find it.

if you have any contributions please call me on +234 806 758 1932
or mail me on edforexmart(at)gmail.com

thanks for the template and the FX Sniper indicators, but how do you use those ?

cheers,

Hi Peter... thanks for sharing "Three EMA's scalping"

I'm new in Forex. Today I tried this strategy. My results:
10 trades, 3 losts
PROFIT - 35% = 121.38 USD

Thanks 4 all...

Great work!!
Wieslaw

All are there:

FXSniper indicators

Template: 5_15min_ema10_21_50_adx14_fx_sniper.zip

Edward,

thank you for the:

1) great site
2) FX sniper's indicators. --> some of them were not collected by me :p

Regards,

GrZack

I don't know about the rest, but don't you think that using moving averages with MACD, which is based on moving averages too, is going to be a bit the same story?

Cheers,
Rich

Could I use MACD (Standard 12,26,9) as a fairly reliable trend identifier, as well? Also, I'd like to set hard pip stops and gains for the EUR/USD 15 min chart, but am having some trouble. What would you recommend?

Thanks,
Dave

Hi,

you can use the FX Sniper indicator when to exit.
When it goes below -100, -200 or -300 & starting his way UP again, you can enter once again until it reaches it's top @ +100, +200 or +300.

Regards,

GrZack


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