Complex trading system #4 (Trend trading with EMAs)

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

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,

:) your words have touched the fact I've learned about myself recently. Often when I get a question from readers, I need to return and review the strategy, and then I realize how nice the strategy in fact is.

One can't keep everything in the head, we need to write it down somewhere. I use this website to make own notes and also communicate with other traders.
I use many trading methods and ideas posted here and never stop experimenting with new settings. That's why some good methods can be left behind till they find a new application in a much better technique.

Regards,
Edward

Hi Edward

Thank you for your info. I have been trading everytime whenever the crosses occurs. I am just curious, this method is pretty cool and why are you quiting it? Is there anything wrong with this method or just that this method is not so perfect for you?

Regards
Jimmypippy

Hi Jimmy,

That's right. You go only Long while above 80 EMA and only Short below it, other signals should be ignored.

Regards,
Edward

Hi Edward

I am using your system "Trend trading with EMAs" for 1 hr TF. It work our pretty profitable. But some times even 3ema and 5 ema crosses the channel of 13 and 21ema,the candle can retract the opposite direction. I enter short @0.9563 at 21/5/08 and time 0044(GMT) i am using ODL broker. My question is can i do anything to avoid the trade? The crosses occur over EMA80. Is that the problem? Crosses above EMA80 only long and below EMA80 short only?

By the way, really admire your hardwork and thank you.

Regards
jimmypippy
email:-jimcsk[at]gmail.com

Yes we can. You may also try 20 and 50 EMA.

Regards,
Edward

Hi Edward, can you use EMA 20 and EMA 40 to tell current trend direction in 1hr charts.

It would be advanced #3 and #5

Regards,
Edward

Hi Edwards ,

Oh wow . Stangely tho , i do understand your position , there are just some things you don't mess with the Missus with ... :)

How about the next best thing ? Any recommendation on the strategies listed here ? Maybe a top 3 kinda thing ?

Thanks in advance and best wishes ...

::Asri::

Hi Asri,

I'd gladly say "Yes", but I can't. Simply and openly because the strategy rules are "owned" by my wife as she trades Forex with me. She is very protective about it... I'm sorry, although I like you all, family interests win here :)

Regards,
Edward

Good morning Sir ,


"Submitted by Edward Revy on July 27, 2007 - 08:04.

I traded this system for real some time ago. Now I trade a combination of different systems and surely use EMAs to guide me through."

Refering to your comments above , is it possible to share your current trading strategies / philosophy with the rest of us here ? I know that your strategies will reflect your MM Rules , risk appetite etc etc and might not be suitable for everyone . Nonetheless surely it is the best possible combination strategy available here . :)

Thanks in advance for your positive response .

Best wishes ,

::Asri::

Hi Pete,

Forex traders use indicators because those make charts look readable. Indicators are "kind of" smoothing out the data and giving them a more distinctive look by dividing market into buyers and seller and suggesting on Buy or Sell opportunities.

However, we all know that indicators' biggest drawback is late signals. Indicators are lagging tools and using them means delayed entries and delayed exits which can eat up a big portion of unrealized profits or end up in a loss.

Using tools like trend lines, pivot points, Fibonacci levels etc, e.g. key support/resistance levels, appears to be more difficult to many Forex traders (may be, because besides knowing what you are doing, you have to reset new lines and pivots, plus analyze charts on every day basis, which is not needed if you use indicators).

But the biggest advantage of using key levelss is that trades are able to get in the market at best rates, at much lower and calculated risks, and exit out with accurate profit targets.

Regards,
Edward

Regarding what the guy/girl said about trading at key levels, do you agree with this comment Edward? I am using fibo, pivot points and trend lines atm to tell me the direction it is likley to head and then look at the indicators. Is it possible to just trade from looking at fibo, pp, trend lines say focusing more on what that is telling me than what the indicators say?
Thanks,
Pete.

It all depends on the trading platform you use. Usually it is very simple, you would have to find menu or a button that says something like "Add study" or "Add Indicator"... A trading platform always comes with user manual, where you can read How to set up indicators on a chart. You may as well inquire support from a broker you have chosen to trade with.

Regards,
Edward.