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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



http://forex-strategies-revealed.com/


Please Screenshoot :)

Manus168

Hi Peter, Could you explain more about Convergence and how you use it. *NEWB* sorry..

TA...

Hi TA,

you can learn a lot about divergence trading principles here:
http://forex-strategies-revealed.com/trading-system-divergence

3 EMA simple trading strategy

Hello,
I think your system is not a really one because you don't tell us abouts exits, about size of lots etc...But I think you could complete. It's worth it.

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

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

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