Quoting leighswwDislikedIn fact, I'm sure this has been other people's dilemma, too ... but when I had let's say a 25ema, 50ema and 200ema on my charts on multiple timeframes (because I do subscribe to the notion that you should be looking at various timeframes for confirmation of the trend, etc.), it always had me anticipating/trying to guess which 25/50/200 ema on which timeframe was the price going to go to. A 25ema or 50ema on the higher timeframes is sure in a heck of a different place than on a 15m or 30m timeframe.Ignored
When using your EMAs, how many times have you seen it looking like it's so far away from the EMA, that you are thinking ...
"hmmmm, I know it's gotta be pulling back soon, because it's just too far from the 50ema"
... so you figure you better wait on getting in cuz you are anticipating this retracement, and then, WHAM! ... the dang thing keeps heading up further and further!!
I don't know about you, but in the 8 months I've been trading, this has happened to me over-and-over again, lol, thus missing great opportunities, just because I'm basically "guessing" that there's gonna be a pullback, sheesh!
So the moral to this story? ... Don't use EMAs, cuz they can sabotage you, lol.
Again, PA and having a BlackJack type of strategy/rules/method (like feb's method is) is the best way to not let your feelings, emotions, wanna-be-psychic abilities get in the way of your trading!!
Okay, I'm done for now. I just wanted to post that, because I'm sure many can relate that happening to them, lol.
I've taken up too many posts. We need to hear from others.