Complex trading system #4 (Trend trading with EMAs)

Hi Edward

What you have said is true. But you are really like a santa claus to a lot of trader or newb like me, giving out free quality strategies all the time. The time you have committed i think is countless.

I have read that your wife is trading with you as well and the team. How many of you in a team? Do you own a trading company or something? I guess trading forex is your full time job or business?

Thank you
Regards
Jimmypippy

Hi Jimmy,

:)
We are a team of 4.
My wife is trading with me, that's true.
I don't run any Forex company.
Forex is my second business.

Ho-ho-ho :)

Regards,
Edward

is this system useful in 5 min?
thanks
Joan

Hi Joan,

You'll immediately find more false signals when trading on 5 min charts.

Regards,
Edward

So is this indicator more reliable on a 30 min chart? Or better than a 1day/ 1hr chart?

Forgot to input my name as Walter :)

Hi Walter,

You mean the system is more reliable on higher time frames, right?
Yes, it is suggested to not going down past 30 min charts. Everything over 30 min is good.

Regards,
Edward

Hi Edward,

This is Kris from Indonesia. I've been trading live GBP/USD for one year. I just found this website last Thursday, and I think this strategy is awesome, although I haven't applied it on my trading activity. After testing this strategy by using back-trade going back until Sept 16, 2008 on a 30-minute chart, I came to a conclusion that the safest stop loss setting is -47 pips from entry. Would you agree on this point of view?

My profit target per trade has always been for 30 pips only, which, in applying your strategy, will be lower than the risk. An example would be on Sept 25, 2008. At 10:30 a.m EST GBP/USD closed at 1.8455 (confirmed bearish trend according to your strategy). If I had entered short position at the opening price 1.8454 at 10:30:01 a.m EST, I would've been swung as high as 1.8498 (-44 pips) before it reached my limit profit (i.e. 30 pips). Is there any way that I could reduce the safest stop loss point to, say, -30 pips, so that my risk-to-reward ratio can be 1:1? I think this has something to do with the entry point. So, do you have any suggestion of what time frame I should use for entry point (together with the indicator measurements)?

Last thing, I noticed that this strategy may/may not work during breaking news. Therefore, it's better to stay out of trading during the breaking news. Would you agree on this idea?

Overall, this strategy looks really good to me, and I'm going to use it for the first time on my real trading on Monday Sept 29 (hopefully there would be a signal). I'm grateful that I found this website and strategy. You're the man, Edward!

Regards,
Kris