Trading advice & trading tips

Definitely, Fon

it is the primary rule of a long term success.

Best regards,
Edward

Hi EDWARD,
TRY THIS ON A DAILY CHART:
PLOT 89 DAYS HIGH EMA and 89 DAYS LOW EMA .
SEE HOW PRICE REACTS ON THIS LEVEL AND NOTICE HOW PRICE STARTS MOVING UP SHARPLY WHEN IT CROSSES 89 DAYS HIGH EMA AND HOW IT GOES DOWN SHARPLY WHEN IT CROSSES 89 DAYS LOW EMA.

EDWARD CAN YOU DEVELOP A SYSTEM BASED ON THE ABOVE MENTIONED METHOD.IF YOU CAN MODIFY THIS METHOD AND SOMEHOW MAKE IT USEFUL FOR DAILY FOREX TRADING IT WILL BE OF GREAT HELP.
I KNOW THAT THIS METHOD IS INCOMPLETE AND IT IS NOT PERFECT BUT I STILL WANTED TO SHARE THIS WITH YOU BECAUSE I THINK THAT YOU CAN MODIFY IT AND MAKE IT PERFECT.
THANKING YOU IN ANTICIPATION.

Happy Trading,
Regards,
Arsalan.

Hi Arsalan,

I truly appreciate it, you have good ideas, but regarding this 89 EMA, it is not better than any other Moving average, and with time it won't perform any better than, say, 100 EMA or 80 SMA etc.
The idea about making a channel with High and low values can help with visualizing trend changes and holding a good pause when the average is tested for its strength.
Happy holidays!

Edward

Hello, I have question for edward or anyone who knows the answer. Do you calculate monthly pivot points once a month or everyday using the high and low of the past thirty days and the close of todays candle. Or is there a different way to do it. Thanks, Shawn

Hi Shawn,

I calculate monthly pivots once a month. In December I will trade based on monthly pivots from November 1st to November 30th.

Best regards,
Edward

Hello Edward,
Thank you for a wonderful site. I have been looking at various strategies detailed on the site and by putting some together have come up with this.
Taking the EUR/USD cross on 5 minute timeframe, I set my chart up with the MACD and EMAs 9 / 55 /100.
Looking to go LONG, I use the crossing of the MACD above the Signal line as my preparation sign.
When the EMA9 crosses above the EMA55 I BUY.
The crossing of the EMA9 above the EMA100 is a confirmation and the crossing of the EMA55 above the EMA100 indicates a stronger trade. (Do the reverse for Shorts)
I then use Scalping System #6 to follow the trade and either wait for that to indicate an exit or for the EMA9 and EMA55 to cross again.
I hope readers understand my description and I welcome their comments, as it almost worries me it is so simple compared with what others detail/use.
Chris
PS. I have my trading screen split in two with one chart show EMAs 9 / 55 / 100 and the other half show Scalping Stagegy #6

Hi Chris,

the simplest are quite often turning to be the best.

I'm glad you're combing ideas to make own strategy. Keep it up!
This one looks very good. Hope traders will try it & find it useful too.

Best regards,
Edward

Edward,
I am finding this EMA9/55 cross strategy very successful. (75%+)
I have noticed that the greater moves are when the EMA9/55 cross close to a MACD/Signal line cross, but I now also enter crosses when I note that the MACD histogram is moving in the direction a the EMA9/55 cross. ie the histogram must be moving away from the zero line. (If it appears to be peaking I prefer to stand aside and wait for another trade.
I would welcome others input
Regards
Chris