DislikedJust realised - its Thanksgiving weekend in the USA. Markets will be very slow.Ignored
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Interesting GBP/USD MA Crossover system 178 replies
If it works, it works... 3 replies
Need help with MA crossover system 15 replies
A "different" crossover system - 600 pips on Friday alone in EUR and GBP 48 replies
Scalping with crossover system 0 replies
Disliked{quote} Maybe not such a good time for this trade to trigger. Holding thumbs for a quick breakout below this small consolidation. {image}Ignored
Disliked...Disliked{quote} This USDCAD trade still on, but going nowhere. /quote] I still think this is an interesting trade, and it is still unclear which way it will turn. (I hope you don't regard the gray line and LH/LL etc as extra indicators - but if you do, just delete my post) If you only take MMO (measured move objective) as criterium it only has another 10 pips to go before it will retest the upper part of the gray area (but everything can - and does sometimes - happen). Maybe - if you can find the time - you could at some pointIgnoredIgnored
Disliked{quote}{quote} ...I've never heard of MMOs before....Then the issue of fakeouts. Could you clarify what you mean by this in our context here?Ignored
Disliked{quote} MMO: you tend to have a first trend move (1-2), then a retracement (2-3), then a second trend move (3-4): 1-2 and 3-4 tend to be of the same/similar length Fakeout: as you enter with buy stop or sell stop, your trades get filled once an imaginary line is crossed. Oftentimes price tests a new low/high only to return to a range etc. Later on it will move against you: Do you wait for your SL to be hit or do you get out of the trade early once you realize there may not be a follow through?Ignored
DislikedI'm in this GBPJPY trade now (the USDCAD one has still not triggered). This is a useful example of the emergency exit procedure I use - I deleted 25% of the lot size a while back, and was going to close down more but when I looked again, it had recovered. It also shows that by placing the stop at a previous swing point, a logical place, it gives extra protection than if it's just a set number of pips away. In this case that previous swing point was rather weak, not really a swing, so I went a bit further down, not quite to the next swing low, but...Ignored
Disliked{quote} Could you explain how you get to a point of being in doubt?Ignored
Disliked{quote} In the example we discussed (your system, USDCADH4) my SL would have been above the last LH but the situation being what I think it was I would have been out the moment the upward candle closed above EMA8 (because for me that establishes a HL; with reentry always being possible, if the situation changes fundamentally) {image}Ignored
Disliked{quote} Thanks, josi, a useful insight. I have been asked about the MA crossover signal that I use. You need to get it from the source website because you have to copy three folders and drop them into your MQL4 folder, not the indicators folder. The instructions are on the website https://www.earnforex.com/metatrader...ossover-alert/ I have also posted a screenshot of the settings I use. {image}Ignored
DislikedThis is nearly the exact system I use. A simple 8 & 20 ema cross with the exception of a 200ema to determine trend direction. I then simply wait for engulfing and inside bars early after the crossover. Stop on the other side of the signal bar. TP I generally set for the nearest support or resistance. Aim for a minimum 2:1 Keeps things pretty simple. Good luck to you all!Ignored
Disliked{quote} That's interesting. Could you post a chart marked up to show how you use it?Ignored
DislikedHi, What do you think abut this setup? A think it was perfect. Unfortunatly I missed itt. Hope next time I will be next to my computer. I have a full time job so it is not so easy to be next to my computer evrey 4 hours. {image}Ignored