Scalping system #12 (Three EMA's scalping)
Submitted by User on April 21, 2009 - 00:24.
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