Hello guys ..
I'm a beginner & i started my forex studies few months ago .. I tried many trading systems and i'm still .
One week ago while surfing the net , i've read just a sentence about a moving average , Well .. Nothing more about it .. just the number of it , that's all i've read , So i left the subject coz i dont like to read too much around the point , i like direct points and that site was full of Bla Bla Bla .
So , after few hours the idea came & i thought about trying 2 moving averages with the numbers i've choosed , i tried these number , and i discovered how strong they are ..
EMA 31 (blue) & EMA 62 (red)with 15M time frame .
This is Mimitto Moving Average .
It's REALLY SIMPLE .. as usuall , when EMA 31 crosses EMA 62 from down to up , then it's a BUY signal , and if from up to down , it's a SELL signal .
Now .. If u go long for example , the BLUE line will be above the ( bars or candlesticks) , and sometimes it may touch the highs of these bars , here u r still safe , at that time the RED line will be far from the blue one .
The problem comes when the BLUE & RED lines get closer to each other , and with being much closer you have GET READY coz u r coming to a cross & it's time to EXIT IF YOU WANT , coz u may wait for the cross to happen but i prefer the 1st EXIT point .
I never wait for a bar to close , for me .. it's all about the sight .. when i see an entry opportunity i GO , of cousre it's better to wait for a bar to close , but generally it dosen't matter .
And about the Entry cross ( LONG or SHORT ) , i prefer to wait after the cross happens and everything become clear to enter the trade , i mean it's better NOT TO enter directly after the cross , coz not every cross IS A CROSS .
About me , I always enter the trade with this system VERY LATE , and u'll notice this in the above pic , see how LATE i am
(( i dont know why )) !!! watch where i entered & where was my entry suppose to be and how much did i lost bcoz of my late entry . But it's fine coz this is a Demo Account .
About timing , i'd like to say that i always go in AFTER the news period is over , i even place the order and go to bed at night to take the profit the other morning . I dont use stop loss or take profit , just Trailing stop .. that's all . Of course u must watch the Support & Resistance levels .
I tried this system with EUR/USD 4 times , and with EUR/JPY 1 time , all trades were success . I think which pair u work with is not important , it's fine with all the pairs .
Now If u'll ask where did i get the name from ( MIMITTO MOVING AVERAGE ) .. the answer is '' this is how i call my fiance' " .
Finally , Sorry for the long talk .. and sorry if i forgot any point .. And i'd like to say THANX FOR ALL PPL IN FF coz i learned much from you guys and i'm STILL .
I hope that i helped someone with this system , and i hope that what i've wrote be useful to everyone .
My respects to all of u guys .
Thanx a lot
I'm a beginner & i started my forex studies few months ago .. I tried many trading systems and i'm still .
One week ago while surfing the net , i've read just a sentence about a moving average , Well .. Nothing more about it .. just the number of it , that's all i've read , So i left the subject coz i dont like to read too much around the point , i like direct points and that site was full of Bla Bla Bla .
So , after few hours the idea came & i thought about trying 2 moving averages with the numbers i've choosed , i tried these number , and i discovered how strong they are ..
EMA 31 (blue) & EMA 62 (red)with 15M time frame .
This is Mimitto Moving Average .
It's REALLY SIMPLE .. as usuall , when EMA 31 crosses EMA 62 from down to up , then it's a BUY signal , and if from up to down , it's a SELL signal .
Now .. If u go long for example , the BLUE line will be above the ( bars or candlesticks) , and sometimes it may touch the highs of these bars , here u r still safe , at that time the RED line will be far from the blue one .
The problem comes when the BLUE & RED lines get closer to each other , and with being much closer you have GET READY coz u r coming to a cross & it's time to EXIT IF YOU WANT , coz u may wait for the cross to happen but i prefer the 1st EXIT point .
I never wait for a bar to close , for me .. it's all about the sight .. when i see an entry opportunity i GO , of cousre it's better to wait for a bar to close , but generally it dosen't matter .
And about the Entry cross ( LONG or SHORT ) , i prefer to wait after the cross happens and everything become clear to enter the trade , i mean it's better NOT TO enter directly after the cross , coz not every cross IS A CROSS .
About me , I always enter the trade with this system VERY LATE , and u'll notice this in the above pic , see how LATE i am
(( i dont know why )) !!! watch where i entered & where was my entry suppose to be and how much did i lost bcoz of my late entry . But it's fine coz this is a Demo Account .About timing , i'd like to say that i always go in AFTER the news period is over , i even place the order and go to bed at night to take the profit the other morning . I dont use stop loss or take profit , just Trailing stop .. that's all . Of course u must watch the Support & Resistance levels .
I tried this system with EUR/USD 4 times , and with EUR/JPY 1 time , all trades were success . I think which pair u work with is not important , it's fine with all the pairs .
Now If u'll ask where did i get the name from ( MIMITTO MOVING AVERAGE ) .. the answer is '' this is how i call my fiance' " .
Finally , Sorry for the long talk .. and sorry if i forgot any point .. And i'd like to say THANX FOR ALL PPL IN FF coz i learned much from you guys and i'm STILL .
I hope that i helped someone with this system , and i hope that what i've wrote be useful to everyone .
My respects to all of u guys .
Thanx a lot
