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Simple 5 / 8 moving average crossover

  • #21
  • Sep 4, 2007 8:57am Sep 4, 2007 8:57am
Quoting tooloud
For those who find 2 moving averages devilishly complicated why not try my method of using only 1?
Hi tooloud,
my problem with this is that I use to get to many false signals, that is why I think the 5MA is good, lagging a bit to eliminate some bad signals, but it works for you and will probably for others... just my 2pips :-)
  • #22
  • Sep 4, 2007 9:09am Sep 4, 2007 9:09am
I think we all see things a little differently so that is why even the best methods fail for some.

I'm a bit the other way in that I try to trade as little as possible so often miss trades.

The key point though, is that simple methods often tell us more than complicated ones.

Regards,

ps, I always wait for close of candle.
Considering a move to Memphis
  • #23
  • Sep 4, 2007 9:12am Sep 4, 2007 9:12am
Forgot to say that I only trade the GBP/USD and EUR/JPY and keep out of the news.

I have also spent many many hours watching them so have started to understand some of the nuances.

Regards
Considering a move to Memphis
  • #24
  • Sep 4, 2007 10:49am Sep 4, 2007 10:49am
Quoting benjiboy
Hi im a novice but i been following the cross over method qutie some time and from all my experiments its been one of the most simple and most effective
i have a couple of questions
1) how would u define a ranging market
2) being a laggard the MA do you place the order at market once the EMAs cross each other?
thanks guys
1) I would define a ranging market where there is no clear trend
2) I generally wait until we have the closed candle then look at the charts and see if there is a good trade
  • #25
  • Sep 4, 2007 6:11pm Sep 4, 2007 6:11pm
Quoting ChowClown
PeterM, good thread. Thanks for sharing your experience. I'm currently long GBP/USD with a few pips locked in and will follow your daily signal and hop on short too, if it materialises and the R:R looks OK.

Thanks again and good trading to you.
Great.. That is exactly what I am doing too :-)
  • #26
  • Sep 4, 2007 8:03pm Sep 4, 2007 8:03pm
Hello I am new to this forex have beenwatching and have tryied some other trading systems which have got me confused with all different indicators..This one looks simple and looks like a long term trading. Which I think would be good for me since I work about 10 - 11 hours a day.. I this one will work for me.. any other help would be great..thank you and hope to be on this thread alot more...
  • #27
  • Sep 4, 2007 8:41pm Sep 4, 2007 8:41pm
Hi and thanks Peter,

I have been using a similar method in my repertoire for quite a while now and would just like to add that it is best to wait for the price to retrace to the 5 ema before entering. This will reduce the drawdown considerably and keep you out of some potentially losing trades.

Mike
  • #28
  • Sep 4, 2007 10:52pm Sep 4, 2007 10:52pm
Quoting banzai
Here're the indicators:
Is there any indicator that show JMA crossover signal??...I think using JMA is better than EMA

Profit 30 Pips yesterday on EU.
  • #29
  • Sep 5, 2007 3:42am Sep 5, 2007 3:42am
Do you wait a bit after they cross to get in? and have you tried them on smaller time frames?
  • #30
  • Sep 5, 2007 5:37am Sep 5, 2007 5:37am
Quoting Slkosier
Hello I am new to this forex have beenwatching and have tryied some other trading systems which have got me confused with all different indicators..This one looks simple and looks like a long term trading. Which I think would be good for me since I work about 10 - 11 hours a day.. I this one will work for me.. any other help would be great..thank you and hope to be on this thread alot more...
Yeah, thats the thing I like about trading daily charts, the labour requirements are often much lower than intraday!
  • #31
  • Sep 5, 2007 5:37am Sep 5, 2007 5:37am
Quoting MikeW
Hi and thanks Peter,

I have been using a similar method in my repertoire for quite a while now and would just like to add that it is best to wait for the price to retrace to the 5 ema before entering. This will reduce the drawdown considerably and keep you out of some potentially losing trades.

Mike
Thanks for the post.. That does sound very interesting. Do you get many signals that way?
  • #32
  • Sep 5, 2007 5:38am Sep 5, 2007 5:38am
Quoting OxiG
Is there any indicator that show JMA crossover signal??...I think using JMA is better than EMA

Profit 30 Pips yesterday on EU.
What is JMA ?
  • #33
  • Sep 7, 2007 4:52am Sep 7, 2007 4:52am
Waiting for a cross on nzd/usd to the upside.. It could be coming early next week. we will se.
  • #34
  • Sep 7, 2007 5:20am Sep 7, 2007 5:20am
I am also waiting for a cross on the eur/usd.. Might be coming in the next hour... I have been using the 1hr chart...seems to work good for me... I made about 40 pips yesterday with it... I like this system alot, nice and simple to use... talk later


Happy piping
  • #35
  • Sep 7, 2007 5:58am Sep 7, 2007 5:58am
I use similar stuff and this is a great strategy... I use 8 EMA. When the EMA slopes upwards I buy and trail the SL below the previous bar low. I also use multiple TPS for price targets. Say that the weekly ATR is 300 pips I take 5 units divide by 5 is 60 pips and put 5 TPS at 60, 120, 180 so on. Complete exit when the EMA starts to slope downwards or when the SL is hit below the previous bar.. Usually I pay attention so the win/loss ratio should be always more tha 2:1...
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  • #36
  • Sep 7, 2007 8:32am Sep 7, 2007 8:32am
Hi Peter........
Thanks for starting this thread, I also have been using a simple MA strategy for quite a while now, I posted the following link in another thread, it basicly sums up my approach to this..... http://www.forexfactory.com/showpost...3&postcount=81

The buety of this simple approach is it can be used in ANY tme frame by simly adjusting the TPs & SLs to the time frame.....shorter TF tighter TP & SL so in this way even a rangeing market can be traded.
Same Whore .... Different Dress
  • #37
  • Sep 7, 2007 11:15am Sep 7, 2007 11:15am
5/8 EMA applied to what price mode? which TF best suit with this setup? how do you deal with side moving market?
  • #38
  • Sep 7, 2007 4:45pm Sep 7, 2007 4:45pm
Quoting Slkosier
I am also waiting for a cross on the eur/usd.. Might be coming in the next hour... I have been using the 1hr chart...seems to work good for me... I made about 40 pips yesterday with it... I like this system alot, nice and simple to use... talk later


Happy piping
Great, I've not tried it on the smaller timeframes, let us know of your progress
  • #39
  • Sep 7, 2007 5:09pm Sep 7, 2007 5:09pm
It seems to be working good for me.. the 1 day chart works good to I think for lnger trends.. I seem to miss the cross on the 1 day since I don't have much time to watch it..The 1 hour gives me alittle more time to watch and get in if there is a cross... I wish I was home today... The Eur/Usd jumped up around 90pips... I got in before I left for work but only set my TP at 20pips.. I am fine with that.. This system really works for me Thanks for sharing it Peter...I will keep you intouch about the 1 hour charts
  • #40
  • Sep 8, 2007 4:07am Sep 8, 2007 4:07am
Quoting aurorau
5/8 EMA applied to what price mode? which TF best suit with this setup? how do you deal with side moving market?
I personally use the daily chart but slkosier seems to be doing well with currently with the hourly charts. I have never tried that as I only trade daily and weekly charts personally.
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