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Great GBP/USD Strategy for Swing Trades

  • #581
  • May 6, 2007 12:58pm May 6, 2007 12:58pm
Cash,

I could have sworn that the market crossed on May 1st and did it again on may 2nd for the gbp/usd.

Are you sure that is only made one cross on May 2nd only and not on May 1st?

thanks

hilton

Quoting Cashcalf
It crossed 2 May.
  • #582
  • Edited 11:55pm May 6, 2007 11:16pm | Edited 11:55pm
EMA 4 crossed EMA 50 a while ago
would this be a good trade?
could we possibly enter without waiting for the EMA 13 to cross EMA 50?
would the holiday temporarily slow down the movement?
  • #583
  • May 7, 2007 2:37am May 7, 2007 2:37am
Hi traders,

I've been visually backtesting this strategy and it seems it would be better to use 5,3,3 as scholastics.

Also for trading any signals that system provides, I would:
1. Enter with 3 lots
a) Exit 1st one with 50+ pips
b) Move stop loss to break even on 2nd one
c) Keep a 50 sl on 3rd

any comments?
  • #584
  • May 7, 2007 3:16am May 7, 2007 3:16am
Will EMA 13 cross EMA 50 next candle?
Don't forget that there is May Day in UK.
Daily filter doesn't match and can continue down.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd long cross next candle.jpg Size: 75 KB
  • #585
  • May 7, 2007 11:00pm May 7, 2007 11:00pm
HI All,

I am new to the forum and have been following this thread which has been excellent so far (Thanks to Vynnar). I have been trading equities for awhile now and just recently setup a demo account to trade forex.

I have the parameters setup etc and think i have a pretty good understanding of how the system works.

However i have to work a normal job during the day so my opportunity to place trades etc is limited to after 5pm EST or between 5-7am EST mon to friday. I dont have the ability to use a pda etc at my workplace and no access to my trading platform during business hours.

So, is this system able to be traded at the end of day or early mornings or do i need to make trades at random times?

Any advice on my situation or personal experiences would be great.

Regards
Stink
  • #586
  • May 7, 2007 11:32pm May 7, 2007 11:32pm
Hello traders,

looks like we might have a long signal on gbp/usd tonight.
  • #587
  • May 7, 2007 11:39pm May 7, 2007 11:39pm
Quoting stink
HI All,

I am new to the forum and have been following this thread which has been excellent so far (Thanks to Vynnar). I have been trading equities for awhile now and just recently setup a demo account to trade forex.

I have the parameters setup etc and think i have a pretty good understanding of how the system works.

However i have to work a normal job during the day so my opportunity to place trades etc is limited to after 5pm EST or between 5-7am EST mon to friday. I dont have the ability to use a pda etc at my workplace and no access to my trading platform during business hours.

So, is this system able to be traded at the end of day or early mornings or do i need to make trades at random times?

Any advice on my situation or personal experiences would be great.

Regards
Stink
System gives you 3-4 trades a month. Normally, you will see ema4 cross first, but it might take another 4 hours or more for ema13, so you have plenty of time to react.
  • #588
  • May 7, 2007 11:47pm May 7, 2007 11:47pm
Thanks for the response,

Well i suppose the more accurate question is if the four hourly chart crossses for an entry signal and i dont get to see it till that night which could be a few hours later, is this a big drama?

I am thinking worst case i lose 1 maybe 2 candles movement before i get to act on it.

Regards
Stink
  • #589
  • May 8, 2007 2:26am May 8, 2007 2:26am
According to rules of the system. Daily filter is now in the direction of the long position.

I opened partial long position. See the blue triangle on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd long filter ok.jpg Size: 64 KB
  • #590
  • May 8, 2007 2:53am May 8, 2007 2:53am
Quoting reno256
According to rules of the system. Daily filter is now in the direction of the long position.

I opened partial long position. See the blue triangle on the chart.
...have you tested using the 3hr entry rather than 4 hr? Similar results?
  • #591
  • May 8, 2007 3:20am May 8, 2007 3:20am
No. I think that it won't be so important.

I didn't notice that the ema4 crossed back ema50 and ema13. I should have closed the position.

What do u think about it?
  • #592
  • May 8, 2007 3:37am May 8, 2007 3:37am
Quoting reno256
No. I think that it won't be so important.

I didn't notice that the ema4 crossed back ema50 and ema13. I should have closed the position.

What do u think about it?
From the difference between platforms/feeds etc, the only way to accurately trade the same signals as VyNNer, seems to be to use the same chart/feed. He was using GFT earlier in the thread.

I have been using FXCM's charting/feed, notice how the daily slow stoch (13,5,5) (as per VyNNer's first post) has yet to cross long....
Attached Image (click to enlarge)
Click to Enlarge Name: 4x13x50 8th May.jpg Size: 63 KB
  • #593
  • May 8, 2007 4:03am May 8, 2007 4:03am
I know what u think. Anyway, it is impossible to get into possition at the same rate. There is always subjective point of view to the chart despite strict rules how to enter the position.

So, no matter whether you use 4h or 3h candles. Or Whether you use CMS, CMC, GFT, Saxo or Oanda.

I also think that it is not so important whether you use EMA 4 or EMA 5 and so on.

That is my opinion. But it is not based on mathematical stats mady by comparing these variations.

The important thing is an idea for me and individual interpretation of it.

Reno
  • #594
  • May 8, 2007 5:11am May 8, 2007 5:11am
Quoting reno256
I know what u think. Anyway, it is impossible to get into possition at the same rate. There is always subjective point of view to the chart despite strict rules how to enter the position.

So, no matter whether you use 4h or 3h candles. Or Whether you use CMS, CMC, GFT, Saxo or Oanda.

I also think that it is not so important whether you use EMA 4 or EMA 5 and so on.

That is my opinion. But it is not based on mathematical stats mady by comparing these variations.

The important thing is an idea for me and individual interpretation of it.

Reno
...i agree, if the aim is to use the original method as an aid to developing something of your own.
  • #595
  • May 8, 2007 6:44am May 8, 2007 6:44am
guys,
sorry for interruption. just wanna share idea. the owner TS is also good. but for people who like to trade everyday,with little stay on PC

try 3 abdul on 4hr chart, (5EMA,9SMA,20EMA)
plus stochastic 8/3/3
u can combine it with fozzy method.(but apply it on 4hr chart) very simple.
just ride the trend on ema cross....aggresive - when 5/9cross, conservative - when 5/9 cross 20 for long/short vice versa

i guest the cable going down right now. (ops....i enter at 1.9944) now has move the trade to breakeven + 10 pips in bag.

make life simple.40 pips a day x 20 day trading = 800pip per month = usd 8000
more than my engineer's day job salary.RM3k(in malaysia)
  • #596
  • May 8, 2007 9:44am May 8, 2007 9:44am
Quoting bujal38
guys,
sorry for interruption. just wanna share idea. the owner TS is also good. but for people who like to trade everyday,with little stay on PC

try 3 abdul on 4hr chart, (5EMA,9SMA,20EMA)
plus stochastic 8/3/3
u can combine it with fozzy method.(but apply it on 4hr chart) very simple.
just ride the trend on ema cross....aggresive - when 5/9cross, conservative - when 5/9 cross 20 for long/short vice versa

i guest the cable going down right now. (ops....i enter at 1.9944) now has move the trade to breakeven + 10 pips in bag.

make life simple.40 pips a day x 20 day trading = 800pip per month = usd 8000
more than my engineer's day job salary.RM3k(in malaysia)

thanks for sharing your method. I backtested last month visually and it seems that in some cases you need to set a pretty big stop loss just to get few pips. Unless I'm missing something. If you have time please attach a chart, I'm sure other would like to see it as well. Thanks again and good luck trading,

martini
  • #597
  • May 8, 2007 6:49pm May 8, 2007 6:49pm
Quoting ChowClown
...i agree, if the aim is to use the original method as an aid to developing something of your own.
Yeah i have been following on since the start of the thread and if i go back to past entry/exits etc i can see the same chart patterns etc on my platform. So yeah everyones charts in real time will look different due to time zones, connection speeds etc. But of the price moves according to the rules of the system the signals will form up, we just dont all see them at the same time.

I think thats what's being said right?

Cheers Stink
  • #598
  • May 9, 2007 2:02am May 9, 2007 2:02am
Hello All,
I trade this strategy for some time now, and as I looked back, I got confuzed by my entries. As they look inconsistent. I am not posting charts, because they are confuzing when evaluating entry point when looking on history.

In the first post Vynner says
" When the EMA4 first cross the EMA50 follow by EMA13 cross the EMA50, with a new open candle, place your entry"
IF I interpret this right it means : Look on the chart only every 4 hours when new candle forms. IF both 13+4EMAs are through slow 50 EMA, enter. (plus the daily filter, no uncertainity there)

Later Vynner says something like "you dont need the 13EMA to cross fully to enter" Which may imply that the 13 and 50 may be just touching.

Often when somebody posts a chart, he is told that his entry is one candle late. Problem is, that when there is a big candle, the cross may show up during the timespace of the candle, than the candle may extend itself quicky in the direection of the trend and- graphically, the cross moves a bit to left, so it looks like it is too late, but at the begining of the candle, there was no cross.

Therefore my fundamental question is : Is this a "look every 4 hours for entry" system?

Or do i need to stick my eyes to the charts after the 5EMA crosses and jump in as soon as the 13 and 50 touch?

Thanks. I like this system, everything is nice, just the entrys are tricky...

Elm
  • #599
  • May 9, 2007 2:35am May 9, 2007 2:35am
Quoting stink
Yeah i have been following on since the start of the thread and if i go back to past entry/exits etc i can see the same chart patterns etc on my platform. So yeah everyones charts in real time will look different due to time zones, connection speeds etc. But of the price moves according to the rules of the system the signals will form up, we just dont all see them at the same time.

I think thats what's being said right?

Cheers Stink
Yes - if you're following the rules, ie 4hr charts, not 3hr and use the daily slow stoch filter, in the end the difference between feeds/charting is likely to be cancelled out.
  • #600
  • May 9, 2007 5:17am May 9, 2007 5:17am
Quoting elmer
Hello All,
I trade this strategy for some time now, and as I looked back, I got confuzed by my entries. As they look inconsistent. I am not posting charts, because they are confuzing when evaluating entry point when looking on history.

In the first post Vynner says
" When the EMA4 first cross the EMA50 follow by EMA13 cross the EMA50, with a new open candle, place your entry"
IF I interpret this right it means : Look on the chart only every 4 hours when new candle forms. IF both 13+4EMAs are through slow 50 EMA, enter. (plus the daily filter, no uncertainity there)

Later Vynner says something like "you dont need the 13EMA to cross fully to enter" Which may imply that the 13 and 50 may be just touching.

Often when somebody posts a chart, he is told that his entry is one candle late. Problem is, that when there is a big candle, the cross may show up during the timespace of the candle, than the candle may extend itself quicky in the direection of the trend and- graphically, the cross moves a bit to left, so it looks like it is too late, but at the begining of the candle, there was no cross.

Therefore my fundamental question is : Is this a "look every 4 hours for entry" system?

Or do i need to stick my eyes to the charts after the 5EMA crosses and jump in as soon as the 13 and 50 touch?

Thanks. I like this system, everything is nice, just the entrys are tricky...

Elm


Can you tell me how to set the EMA settings? I'm kind of new to all this...is it in the MACD settings or the moving average...
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