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EMA 25-50 Trading System (Detailed)

  • #221
  • Edited 6:21am Sep 19, 2007 6:00am | Edited 6:21am

GBP/JPY SELL
Issued: 19.09 |01:18 AM (GMT)

Entry: 233.00
SL: 233.82

FLOATING: +160

Today looks to be another profitable day.

We've hit 100, so take partial profits if you want to and start reducing your risk by halving ur Stop Loss, manual trailing on a lower time frame (see 2550 Trade Management Rules at the beginning of thread) or just move your SL to B/E

There were initially two signals issued today. One for GBPJPY and one for GBPUSD. I however thought that i made a mistake on the GBPUSD trade so i deleted it, no having found out that it was all actualy ok. If you did catch the Pound signal aswell before i deleted it, you would be +100 on that as well, but i won't be taking that into my Statistics here for this Thread, as you can see i update them regularly.

***********************************************

Floating Trades:
USD/CAD Short: +191

GBP/JPY Short: +125, +86

+342, -146, +260, +182 +418 +160 +73 +191 -150 +125 +86 =
~1541 PIPs Gain so far, in 10 days.

Regards,
E. Lang

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #222
  • Sep 19, 2007 6:35am Sep 19, 2007 6:35am
thank you effilang for useful information.
  • #223
  • Sep 19, 2007 10:23am Sep 19, 2007 10:23am
Quoting AyaNeko
i don't get it, how did you know gbp would be going down? i am fairly new in forex, only started since april...
well, after yesterday's news release on USD, the interest rate went down, i thought that many ppl would jump from USD/JPY to GBP/JPY, so i expected GPB/USD to raise even higher, but it didnt

today morning you posted to enter GBP/USD short, i didnt believe it, but in the end you were right, my SL got hit

could you explain to me why it went down and how you saw that coming?
Hi AyaNeko, while waiting for Effilang to answer for himself, allow me to give my two pips. Effilang did not know cable was going down. It is not possible to know what the market is going to do next. However, it is possible, with a good system, to identify high probability setups. Over a long series of trades, and NEVER for single trades, these setups will yield a blending of win/loss ratio and risk/reward ration that renders the system profitable in the long run. Effilang's system indicated a short for cable. I have my another system that also indicated a short for cable. I also have another system that gave a long signal for cable. So which system is right? Is it more right to go short that long because two of the three systems said short and majority rules? Answer: all three systems are right, and no, majority does not rule. Both my systems, even though they gave opposite signals IN THIS INSTANCE, are profitable over the long run; over an extended series of trades.

So, the important point here for you as a new trader to understand is that the outcome of individual trades is meaningless. It is only the net result of a long series of trades that has stastical meaning. One must have confidence in the system they are using. Enough confidence to follow the rules of that system the same way, trade after trade after trade. The best way to screw up a good system is to interfere with it.

If Effilang's answer is different than mine, then you will have the benefit of two viewpoints. I know my viewpoint is valid, and I also know that however Effilang answers, it will also be valid because I recoginize him as a trader who knows what trading is about.

Hope this helps, and apologies to Effilang for hijacking this excellent thread.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #224
  • Sep 19, 2007 10:37am Sep 19, 2007 10:37am
Dial,
Thanks for that insightful breakdown, keeping the "Big Picture" in it's proper perspective is seems to be a HUGE part of this equation that as new traders we seem to miss at times. NO system is 100% and a positive expectancy is all we can really hope for....as you said individual trades are meaningless +$ at the end is what matters.... Thanks to Effilang for a great system and to dial for the excellent insight.

Respectfully
Super Noob
A little drunk in Afghanistan(keeps the rockets away LOL)
Jimbop
  • #225
  • Sep 19, 2007 11:20am Sep 19, 2007 11:20am
Hey Effilang
I tried emailing you at yahoo and hotmail but message was returned, just wanted to get some info on the trading course email me [email protected]
  • #226
  • Sep 19, 2007 12:19pm Sep 19, 2007 12:19pm
Quoting effilang
Awwww.. shucks.. SniFF...

how nice of you.

I'd love to. Would you be kind enough to mail it to me?

[email protected]

I'd be very appreciative.

Regards,
E. Lang
mailed you. regards
  • #227
  • Edited 2:01pm Sep 19, 2007 1:49pm | Edited 2:01pm
Quoting diallist
Hi AyaNeko, while waiting for Effilang to answer for himself, allow me to give my two pips. Effilang did not know cable was going down. It is not possible to know what the market is going to do next. However, it is possible, with a good system, to identify high probability setups. Over a long series of trades, and NEVER for single trades, these setups will yield a blending of win/loss ratio and risk/reward ration that renders the system profitable in the long run. Effilang's system indicated a short for cable. I have my another system that also indicated a short for cable. I also have another system that gave a long signal for cable. So which system is right? Is it more right to go short that long because two of the three systems said short and majority rules? Answer: all three systems are right, and no, majority does not rule. Both my systems, even though they gave opposite signals IN THIS INSTANCE, are profitable over the long run; over an extended series of trades.






































So,
hello everybody,

new here
  • #228
  • Sep 19, 2007 3:18pm Sep 19, 2007 3:18pm
Effilang, what are some of your thoughts on NZD/USD daily chart. It seems to have taken out last resistance level @.7280. Seems to also taken out the bear line (trendline).

http://img119.imageshack.us/img119/4986/nzdusdre3.png
Check Mate GAME OVER
  • #229
  • Sep 19, 2007 3:23pm Sep 19, 2007 3:23pm
Effilang nice call on some of your bonus picks. I did not buy them as I could not figure out your signals. I think it just is not prudent for me to simply just buy with out understanding the methodology.. Anyway great job and keep up the good work..
Check Mate GAME OVER
  • #230
  • Sep 19, 2007 3:49pm Sep 19, 2007 3:49pm
Quoting bunton
Effilang nice call on some of your bonus picks. I did not buy them as I could not figure out your signals. I think it just is not prudent for me to simply just buy with out understanding the methodology.. Anyway great job and keep up the good work..
Hey Bunton,

The Bonus signals aren't 2550. Thats why you can't make them out.

So no worries.

Floating Trades:
USD/CAD Short: +204
NZD/USD: +40, +33

As for the GBP/JPY trade we took today at 233.00 > I had to go out so i set a trailing order for 100 pips, i got closed out at 232.50 for +50 and +13. IT COULD have been managed a lot better than that!

+342, -146, +260, +182 +418 +160 +73 +204 -150 +53 +13 +40 +33 =
~1479 PIPs Gain so far, in 11 days.

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #231
  • Sep 19, 2007 3:58pm Sep 19, 2007 3:58pm

Hey Bunton,

We are already 2550 Long on D1 for NZD/USD

On the H4/H1 system i trade aswell, some of it's recent trades of which you can see as "H1/H4 Bonus Signal" have been pretty profitable; your H4 entry would have been at 0.7076. And thats a clean mechanical Signal, no second thoughts on it or double taking. S/L would have been dead at 0.7000

Hey guys,

We have our first 2550 Daily Signal.
Lets hope it will be as successful as our recent H4 signals.

You should know the drill by now.

Regards,
E. Lang


NZD/USD

http://img442.imageshack.us/img442/9558/nzdusdgr5.jpg

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #232
  • Sep 19, 2007 4:45pm Sep 19, 2007 4:45pm

GBP/JPY SELL
Issued: 19.09 |10:43 PM (GMT)

Entry: 231.80
SL: 232.80

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #233
  • Sep 19, 2007 5:02pm Sep 19, 2007 5:02pm

This also coincides with the H1 25|50 Short.
SL for the 2550 short would be around 233.00 (2 x ATR)

Regards,
E. Lang

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #234
  • Sep 20, 2007 2:55am Sep 20, 2007 2:55am
elang At what point do you move your stop up on gbp/jpy pair?

Preferably 100 to 150 Pips, 50 Pips if your risk tolerance is very small.

Anyways, the last GBPJPY short, isn't looking too sexy, i may be considering closing it out prematurely if it doesn't buck up in the next couple of hours.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #235
  • Sep 20, 2007 3:01am Sep 20, 2007 3:01am
GBP/JPY SELL <CLOSED>
Issued: 19.09 |10:43 PM (GMT)

Entry: 231.80
SL: 232.80

This position has been exited at B/E with a 0 Pip P/L.
It wasn't looking like it was going to do anything.

If i have more confirmation for a short, i will issue another signal, but the outlook has changed to bullish for now.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #236
  • Sep 20, 2007 3:02am Sep 20, 2007 3:02am
Is everyone in on the NZD/USD 2550 D1 ?

It is a risky entry now, but it can still be made with a larger SL

Regards,
Effiong Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #237
  • Edited 3:36am Sep 20, 2007 3:14am | Edited 3:36am

GBP/USD BUY
Issued: 20.09 |09:13 AM (GMT)

Entry: 2.0060
SL: 1.9960

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #238
  • Sep 20, 2007 3:35am Sep 20, 2007 3:35am

GBP/JPY BUY
Issued: 20.09 |09:35 AM (GMT)

Entry: 232.13
SL: 231.03

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #239
  • Sep 20, 2007 4:15am Sep 20, 2007 4:15am
GBP/USD BUY <CLOSED>
Issued: 20.09 |09:13 AM (GMT)

Entry: 2.0060
SL: 1.9960

Closed at B/E. Will reenter later on H4, gotta go out.

See you guys later.

E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #240
  • Sep 20, 2007 4:17am Sep 20, 2007 4:17am
The GBPJPY Long is still valid.

I'm gonna let my SL hold this one out.

See yall later.
"One Grows Tall After Walking Through A Forest Of Tall Trees."
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