Scalping system #6 (EMA Bands)

As far as I interpret it:

your regular profits come from the setups where yellow group touches green group.

When price breaks 55 EMA. There is an additional order to be set and this order will be shooting for 10 pips profit.
In case price rebounds, you go again in the opposite direction to get another 5 pips (I wouldn't probably go for those 5 pips...)

Ronny

Hello, I don't get something in the explanation, first you say :
"Take Benefit When Yellow Group Touches The Group Green"

then :

"Take Profit 10 Pip in Breaks Ema 55 And take Profit 5 pips In Pull Back"

So when should we take the profit ??? After 10 pips or when the yellow group touches the green one ?

Hi George,
My tests about adding a new indicator brought nothing impressive so far. I'll keep on trying.

Regards,
Edward

Hi George,

That would basically mean adding RSI(21) rule.
Alright, I'll check that out :)

Regards,
Edward

Hi Eduardo,

I got a similar question recently.
So may be I'll refer you now to this page.
Thank you.

Regards,
Edward

Hello Edward -

Is there some way to integrate some elements of Complex Strategy # 4 to Tenerife ' s multiple EMA 's

method ??

#4 uses MULTIPLE ( 5 ) EMA's as well !

Regards;
George

Dear Edward
What is the best money management in scalping strategies?

Usually I have 5 to 10 trades per day in scalping strategies, in every single operation should I risk 4% of my account? How much should I risk of my account per every single operation?

Regards,
Eduardo

Hi Edward -

Thanks for bringing up my comments on 4-25 , re multiple EMA's , to the forefront again. I hope other users of this site , besides Volter will participate with their comments and observations , and do some testing /experimenting as well .

Edward , your first observation about trading breakouts above or below the candle with the squeezed EMA's is a good start. That's the kind of ideas we need to " tighten" the method up and avoid false entries and whipsaws .

Regards,
George

Probably yes, they serve for visual aid. However, I must say that what helps seeing better helps trading better.
Also I've found latest comments about EMAs squeezing on one candle quite interesting. I'm going to experiment with this new idea.

~Volter~

Hi George,

thank you for the highlight, this is a simple and effective weapon.
Let me quote it once again with accents on the main points:

"I have noticed that when all, or even most, of the yellow lines squeeze close together on one candle ( any size ), there is usually an immediate strong move up on a green ( long ) candle or down on a red ( short ) candle. It gets you into a trade earlier."

So, we can trade breakouts above and below the candle that has all yellow lines squeezed within its body.

I want to thank George once again for this valuable comment and invite everyone to participate in discussion and research.

Happy trading!

Regards,
Edward

This looks like it has potential. I am programming it into my system for testing.

But I have a question: How is this scalping? I mean it looks like it could take minutes, hours or even days to complete a trade.

Hello Edward ,

I have noticed that when all , or even most , of the yellow lines squeeze close together on one candle ( any size ) , there is usually

an immediate strong move up on a green ( long ) candle or down on a red ( short ) candle . It gets you into a trade earlier. I wonder if

anyone else on this web site has noticed this .

Regards,
George

Thank you Nick,
Sounds good, I'll check it out.

Regards,
Edward

Hi Edward,

There are better momentum signals if EMA(55) is changed with SMA(30) applied to (H+L+C+O)/4

Thanks,
Nick

Hi Fraser,

The term "spike" is used when price sharply shifts in one direction and then in the same quick manner returns back.

"Upspike" can be referred to either one or both: long candle body and/or long candle's shadow. Most of the time the spike's distinctive attribute is a long shadow.

Regards,
Edward