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Hi all,
Yesterday, followed the rules, Got 130 pips on the GBPJPY, 30 pips on GBPUSD, 30 pips on EURJPY, on the EURJPY I know it was against the rules but I was tempted.
Anybody else with feedback?
regards, Haywire
It started me thinking about the emas and how best to use them. Clearly if they keeps us out of more bad trades than than good then fine but I can't help thinking that the original system that THING started here didn't have them. Are we improving it or not?
Unfortunately I haven't got any back testing to help resolve this. But USD/JPY, AUD/USD, and EUR/CHF all followed the same pattern as those above - i.e. bounced a bit (profitably) in the direction of the set up bars against the direction of the emas before following the trend indicated by the emas.
I don't seem to be able to get all the possible charts up on North Finance and can't therefore see what happened to all of them. Interestingly though with USD/CAD the set up and the emas both indicated a short trade but it went long but not before a quick profitable dip down.
This post is a bit all over the place, I know. That's because I have conflicting thoughts. It is throwing up questions. Does Kev-K's technique of looking for clues in the 4H emas get us further? Or perhaps the ema periods of 20 and 50 are not the optimum (why 20 and 50 anyway?)? Or should we just forget about emas after all and Simply http://www.forexfactory.com/images/icons/icon7.gif rely on the increased velocity of three strong bars?
Mind you I am convinced of the wisdom of using the prevailing ATR to determine each pairs po and sl. That, to me, does make sense!
What a fascinating thread this is... thanks again to everyone and hope you come back soon, THING.