Trading method #1 (9 EMA Entries)

hello Edward,
Thanks a lot for your advice.Please i need some help with the COG indicator.when i download it it just shows me figures. i dont know how to change that into the indicator.am a newbie so please pardon my questions. thanks,Toju

Hi Toju,

thank you for your feedback. Answering the questions:
- if you want to get most accurate pivot points, it is advised to use EST (I use EST) or, as an alternative GMT time zone based Pivots. So, if your trading platform is GMT+2, you have to shift hours, and calculate pivots based on that.

- for adv #14 - it is not ADR for day-to-day clauclations, because ADR is an Average Daily Range, while we need High/Low/Close of a daily candle for each day. (May be somewhere in the middle of the conversation there was a use for ADR, but, I can't recall it quickly)

- the stop loss for the system is pre-calculated and is ok. I don't trade with this exact system, because I have my own, but I like Stuart's approach a lot. You read so many comments with traders trying to tweak and adjust the rules - that's a great result, which means that many have favored it, but everyone should find his own edge with it. People abandoned the discussion, but not the system, although in this competitive Forex world very few come back to share the results and findings to improve a system. That's normal.
Regarding the London candles, only a person who put this system to a good test may find those little details. I haven't seen them while trying it for several weeks. Major currencies: EURUSD, GBPUSD, GBPCHF, EURGBP, USDJPY are good to start with.

Best regards,
Edward

in addition what is the stoploss we should use and best time frame.London or US Open.(advance 14 system),do you still trade with this system and is it effective in the long run.people seem to have abandoned the system.also an observation,the first two candles in london open seem to wreck havoc with the system,they trigger a trade but it ends up in a loss.so should we trade after these candles?and in your opinion what are the best currencies for these system?
thanks,toju

hi edward, its me again and in regards to your advice i checked out the advance 14.i have been using that strategy for some time ,with mixed results.some days are profitable while some days i give back my profit.maybe am doing something wrong.wanted to find out are we suppose to use the previos days range or ADR?there was so much tweaking of the original stewart formula that it is not recognizeabl again.am trying out the stuart GBP/JPY BREAKOUT STRATEGY.
ONCE AGAIN THANKS FOR THE MARVELLOUS JOB YOU ARE DOING
toju

thanks for your reply and the good job you are doing.In regards to resistance and support,am using a meta-4 and cant seem to find the indicator and also my broker server is GMT=+2.so how do i calculate pivot points because i want to trade london and new york sessions.
thanks,Toju

Hi toju,

Sorry for not replying you sooner.

With 2:1 approach, if your stop is hit regularly, it means you're setting it too tight in order to fit the 2:1 ratio. You should increase your profit goal, which would allow more room for the stops.
I'd recommend also reviewing the following topic, where we discuss various stops and indicators to be used.
http://forums.forex-strategies-revealed.com/stop-loss-for-crossover-stra...

As long as price trades above 9 EMA we hold a Long position. With this method we can't predict a reversal, like, probably, with any other methods. Trading is all about analysing facts, not forecasting them. If you, however, want to be able to expect a reversal, you should seek help from Support/Resistance levels, where, as soon as they are tested, you can be certain that a reversal or at least a correction is due.

If to suggest a strategy, try advanced #5 and #14. But keep in mind that we have many more great ideas on the website, which can be combined into a profitable system, and it is almost impossible to rank the strategies at this point.
Just take your time and enjoy the strategies collection we have.

Best regards,
Edward

hi Edward,
still no reply to my comments above,quess you are busy. But one more question about the 9 ema.if a trend is taking place for two or three days continuosly and the candles are forming below or above the 9 ema depending on the trend,do i still trade along with it,what happens if a reversal occurs? how can i detect it soon? thanks for your assistance and keep up.Also is there a simple strategy you can recommend that can allow take 30pips from the market daily since thats my target.i trade GBP/USD,EUR/USD.

hey Edward,
just discovered your site and it has been such a help, my only regret is that i didnt see it soon .this 9 ema strategy has proved hepful and i have demo traded it with good results.such enough i will be applying it in my live trades soon.I would like your advice in placing stop loss, using the 2:1 strategy seems okay but GBP/USD,EUR/USD which i trade seems to trend in such a way that my stop loss is hit before my take profit.any suggestions will appreciated
toju,Nigeria

Same default settings of (12, 26, 9) should be used for MACD on 15 min chart.

Best regards,
Edward

thank,s for help.
i use 15 min chart whit macd.
which parameter i used in macd >

Hi! Edward,

Your EMA9 is so far the best indicator I have tested. I have traded 9 times and all in profit. Too bad I only see it recently. You are the Mann! Keep up the good work.

JLT, Malaysia

Hi Tom,

thanks a lot for the feedback and sharing your trading approach - I like it.
I think it is great when traders can share thoughts and ideas - everyone can find something for himself and become a better trader.

Best regards and happy trading!
Edward

hi Edward,

as always many thanks for this thread; I use a variation on your 9 which mixs the Floor trader system (a great system); basically 15min Chart; RSI above or below 50; Macd cross-over & Bollinger Bands; I think BB's are great for FX trading since when they get very narrow you know not to waste time since the volatilty has dropped so low; all visual and easy to see;so when you get a candle closed above or below 9EMA enter trail stop above ema line; exit usually stopped out; If I miss an entry then use the Floor trader system on a 5 min to fine tune the next entry which usually is a L1
Tom
Oz

My pleasure, Abhijit

it is a simple yet powerful method once you start trading. I'm glad you like it!

Happy trading!
Edward

Dear Edward,
Thank you so much for submitting such a nice strategy. I traded 27 times since last 3 days and not a single loss yet. Thanks once again.

Abhijit, India