Forex trading strategy #20 (63 EMA breakout)
Submitted by User on May 10, 2009 - 11:25.
Submitted by Oladayo Sakoto
Hello my fellow traders,
My name is Oladayo Sakoto from Nigeria and i'm just a new bee in the market, actually i've been trading for more than a year now. As we know the market's reaction is a little bit unpredictable in this era and i have seen a lot of events and scenarios whereby the daily trend can be changed within few minutes. So i studied hard and did a vigorous research on this strategy and it gave me 95% of wins and 5% of loss trades. Actually i back tested it for 7 months and it gave only 5 loss within this 7 months. May 2009 to November 2008. This strategy works only for GBP/USD pair cos of its great volatility.
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Hello Oladayo,
It looks like and excellent strategy, but please attach the picture how you setup those trades. I'm not sure about the filter part.
Thank You
I have been analyzing your strategy, but i dont think that it is 95% winning.
It's here
http://forex-strategies-revealed.com/simple/63ema-breakout
highlighted in capital letters.
I dont find that main post with the addition to the 63 EMA breakout (I like your system).
a picture would be fine
Everyone check out the strategy update "IN ADDITION TO THE 63 EMA BREAKOUT", in the main post.
Dear Dennis,
I mean check for the highest high figure downloading from the Asian session and add 5pips to filter for 4 decimal point plattforms and use 50 for MT4 plattforms due to 5 decimal points. Get it Dennis?
Answer to your questions...
1. It is not meant for only buy trades,it is meant for both buy and sell. If the candlesticks downloading from Asian session till Uk opens is below the 63 EMA, then you should place a sell order. You cant hedge or straddle this strategy, i believe traders who straddle or hedge dont know what they are doing.
2. The winning ratio is 95% and 5% loss... What i meant by 30pips is your take profit. If you are using MT4 which uses 5 decimal points then it would be 300. I would prefer you go for 40 pips instead of 30pips cos atimes it gives 200 pips thats 2000 for MT4 platfform. So that you'll be using 1:1 wining to loosing. But trail 30pips down so as to lock profit. 30pips is too sure!
Dear Richard,
You are right about the time.... midnight to 7am GMT
Hi Cummali,
I got ur message and i want to tell you that you are wrong. Maybe you didnt understand how i told you to set up the strategy. I will never use or post a strategy that doesnt have 95% win.....never......not in the forex market. You didnt get the strategy and how to use it. The worst that would happen is that your trade wont be executed. If your trade doesnt execute by the close of the 11:00GMT candle stick....exit the market. That is if your order doesnt execute within the first three hours of the open of Uk session..exit the market cos thats when volatility takes place. Now go back and test it again ok. Do it right as i told you and write me back. Remember do it right!!!!
Hi Oladayo,
Can you please clarify what you mean by "measure the highest of the candle stick from Asia session and filter with 5pips". What do you mean, filter with 5 pips?
Thanks, Dennis
Oladayo my name is cumali.ı backtested your strategy from 1.1.09 to the current time and ı think you are making a big mistake because ı found at least 16 loss!! and if you want ı can prove this with the screenshots! ı think you must develop your strategy..thanks anyway..
Hi Oladayo Sakoto looks nice strategy so far but if you can please specify some points
1- is this strategy is for only buy trades?
2- the winning ratio you told is for 30 pips take profit or 200 pips take profit?
3- if you can post any example chart it would be great
anyway Thanx for sharing such a good winning ratio strategy keep it up
Hi Oladayo,
Can you let me know what times you are using for the Asia session? I presume midnight GMT to 7am GMT?
Thanks
Rich
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