8 EMA Above/Below

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1. Do you trade all major pairs or just NZDUSD?
2. Do you cut your losses for losing trades or double the lots on opposite signal?

Thank you for the simplicity.

Where is the edge in this idea?
At the moment it's like 50/50 chance

This idea works ok only when you have trend.
When ranging you will have a lot of losses.

@Entuculo
I have to say you choose an interesting nickname.
Probability no one noticed it

GBUSD waiting

Hi Entuculo.

Am I correct that you got the 8 x 8 strategy from the Jake Bernstein method of trading?

I believe this method works best when you have the 8 x 8 ema's setup on a higher timeframe and then use the lower timeframe to trade in the direction of the higher timeframe.

1greyfox

Yes part of this idea come from him.
my filter work better .
even 1m

1 d

Hi !
But why precisely 8 and 34 EMA's ,what do represents those numbers ?

Hi @Entuculo thanks for opening this thread.
How to get those arrows on chart?

Regards & green pips

Somebody was wondering if this system has an edge. Maybe.
Using mostly the rules in the first post of the OP, changing to use the slope of the EMA34 as long-term trend filter, rather than the OP's use in comparing it to Close.
I did a quick back-test using TradeStation. I used emini-Nasdaq NQ (CME futures) 60-minute bars for one year. This chart shows the most recent several days of trades, as hypothetical example. (I hope the images will show up clearly on this post). Attachment g
This is the back-test equity curve. If shows a nice positive expectancy. Not bad with about $50k profit trading just one contract, before commission and slippage, if the trader can withstand the drawdown.
I don't use MT4 and don't trade forex much. But the above test shows probability of existence of a trading edge.
One suggestion is to add a trend strength filter, like ADX; to avoid trading in sideways market.

~ Bill

Don't know why the chart did not post. Let me try that again.

waiting

Thanks for your sharing. Next week, I will try this system with EU H1

CADCHF TOP

INDICES 1

waiting for a sell signal

usdcad

AUDUSD
Short?