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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Hi JL,
yes, they are included.
Regards,
Edward
Hi Oladayo,
When I back tested it for the month of March i showed 2 losses one for the 6th and the other for the 31st; however it did show 4 winning trades with a net gain of 60 plus pips with the 30 pip first profit taking exit. Could you back test the month aswell and see if it is correct and let me know if I did something wrong in my calculations?
Thanks Ty
Hi Mr.Oladoyo,
I just came across your system (not too late I hope)and tried it on demo. It seems to be working quite well except for one minor clarification.You suggested we take initial profit at 30 pips and put a SL at 40 - 45 pips.Is it all right? I just feel uneasy about the Risk/Reward ratio. Thanks !!
Hi Edward,
on your screen shot there are there are 2 candles below the 1.3955 price. If these candles were below the 63 EMA I assume ti would not be a trade as th rules are that all candles must be above the 63 ema line, is that correct?
Thank you
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