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EMA 25-50 Trading System (Detailed)

  • #281
  • Sep 21, 2007 2:55am Sep 21, 2007 2:55am
Quoting mjolimer
You have 3 choices I think...

1. Wait until the price hits the ema in your chosen tf
2. Look to shorter TF's and try and see if there is a sync motion in a lower TF.. is price bouncing off an ema in a lower TF?
3. Look for another pair where there is better value.

I guess you could counter trend if you believe price has hit a strong resistance. I don't really like doing that because i have lost money going against the trend. I think it is easier to do on high volatilty pairs like GBP/JPY.

Anyway, i hope Effi doesn't mind me trying to give a view even if only so he can put me right on this so i can understand myself what he would do in this sort of situation.

Good trading to you all!
3. Look for another pair where there is better value. (My Oppinion)

When i teach i advise students to forgdt about the situation and drop it.
There is at least 20 pairs you can trade, don't get greedy, you can make money on all of them - If you missed an entry, you missed it, just leave it.

Reentering now is technically risky. There are methods to do this and i teach those, but my advise is to just stay out of the trade and look for a fresh signal where your SL can be safe.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #282
  • Sep 21, 2007 2:57am Sep 21, 2007 2:57am

GBP/JPY BUY - 230.42
Issued: 20.09 | 10:09 PM (GMT)

 Entry: 230.42
SL: 229.25

Floating: +100 PIPS

We've hit 100 Pips guys, start thinking about managing your SL ie: halving it, moving it up to B/E, cashing in a few lots on your position etc.

Another good trade.

Regards,
E. Lang


"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #283
  • Sep 21, 2007 3:01am Sep 21, 2007 3:01am
hey any signals effi?
  • #284
  • Sep 21, 2007 3:07am Sep 21, 2007 3:07am
If you didn't catch the long yesterday on GBP/JPY a market entry long and this exact price now is valid.

SL are at the previous S, 229.46.
Due to the late entry your SL is much larger, but the trade is still in your favor.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #285
  • Sep 21, 2007 3:10am Sep 21, 2007 3:10am
Unfortunately i missed that signal (Kabul time zone) but I scalped the hell out of the GBP/JPY short. In and out several times while it bounced before the big break, and caught the Long this am. You Rock!
  • #286
  • Sep 21, 2007 3:15am Sep 21, 2007 3:15am

Floating Trades:
USD/CAD Short: +365
NZD/USD Long: +103, +95
EUR/USD Buy: +101
GBP/JPY Long: +104
+342 -146 +260 +182 +418 +160 +73 +365 -150 +53 +13 +103 +95 -75 +89 +89 +104 =

~2002 PIPs Gain
13 days traded.
Average: 154 Pips a day.
WIN/LOSS Ration 17/3

I hope i've managed to answer the question of "Is a 1000 Pips a month possible"

Regards,
E. Lang

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #287
  • Sep 21, 2007 3:28am Sep 21, 2007 3:28am
Quoting effilang
3. Look for another pair where there is better value. (My Oppinion)

When i teach i advise students to forgdt about the situation and drop it.
There is at least 20 pairs you can trade, don't get greedy, you can make money on all of them - If you missed an entry, you missed it, just leave it.

Reentering now is technically risky. There are methods to do this and i teach those, but my advise is to just stay out of the trade and look for a fresh signal where your SL can be safe.

Regards,
E. Lang

Thank you, sirs (Effi and mjolimer). This thread is so great it's giving a broader perspective on trading.

Anyways... I always try to check for signals for GBP/USD and EUR/USD. Hope I can see signals for EUR/JPY too, and USD/JPY as well. (I'm sorry guys, I am only limited to 6 pairs compared to the supposed 20 pairs.) I will also try to post a signals that I see basing on the system (hope it is ok, effi).

Actually, just did this at the start of this hour:

GBP/USD buy entry: 2.0133
SL: 2.0086 given an ATR of 0.0032

It seems to follow all the supposed signals. Looking forward to earning pips.

Let me know your inputs.

Good trading to everyone!

REY
  • #288
  • Sep 21, 2007 3:28am Sep 21, 2007 3:28am
hey effi do uou think 231.56 was a good buy coz rsi was above 50 and price closed above 50 ema?
  • #289
  • Sep 21, 2007 3:32am Sep 21, 2007 3:32am
Quoting bksujal
hey effi do uou think 231.56 was a good buy coz rsi was above 50 and price closed above 50 ema?
The best technically sound LATE Buy Entry you could have for this trade and you made it.

My advise is: SL at 230.42 or 229.43

Now you just have to be patient and let the money come to you. Don't let pullbacks scare you. Waiting is 90% of the trade TA is just 10%.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #290
  • Sep 21, 2007 3:43am Sep 21, 2007 3:43am
wow efi 65 pips already nice mate this is my first trade!
  • #291
  • Sep 21, 2007 3:47am Sep 21, 2007 3:47am
This is really good going Effi in a relatively flat daily market.
Up 109 as I write.
Dave
  • #292
  • Sep 21, 2007 4:04am Sep 21, 2007 4:04am
Quoting Acko
This is really good going Effi in a relatively flat daily market.
Up 109 as I write.
Dave
Wha-hai thank you ^_^
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #293
  • Sep 21, 2007 4:05am Sep 21, 2007 4:05am
hey effi tell me one thing i have a doubt about it. See on an hourly chart should i wait for an entire candle to close above the 25-50 Ema line? And offcourse rsi should be above 50.
  • #294
  • Sep 21, 2007 4:07am Sep 21, 2007 4:07am
Quoting bksujal
hey effi tell me one thing i have a doubt about it. See on an hourly chart should i wait for an entire candle to close above the 25-50 Ema line? And offcourse rsi should be above 50.
I don't read minds just yet bro, what pair ?
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #295
  • Sep 21, 2007 4:11am Sep 21, 2007 4:11am
for gbp/jpy
  • #296
  • Sep 21, 2007 4:13am Sep 21, 2007 4:13am
I take signals on the first Open above 50 with 2550, i don't wait around for closes etc.
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #297
  • Sep 21, 2007 4:17am Sep 21, 2007 4:17am
Quoting rsbgm
Hi Effi,

How do you catch up in cases where the prices are trending upwards and is staying there for a while. Waiting for it to fall back back to the EMA's for any signal seems endless (methaphorically speaking). Where and when do you get in? I have attached a chart file and encircle the case that may be. Please fill in your inputs. Thanks.

Best regards,

REY

This one is for you my Aussie Dollar lovin buddy.


AUD/USD SHORT (H4/H1 Bonus)
ENTRY: 0.8644
SL: 0.8720

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #298
  • Sep 21, 2007 4:19am Sep 21, 2007 4:19am
Quoting effilang

This one is for you my Aussie Dollar lovin buddy.


AUD/USD SHORT (H4/H1 Bonus)
ENTRY: 0.8644
SL: 0.8720

How many pairs do you trade in mate?
  • #299
  • Sep 21, 2007 4:22am Sep 21, 2007 4:22am
AUD/USD SHORT (H4/H1 Bonus)
ENTRY: 0.8644
SL: 0.8720

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


Just These Ones:

http://img219.imageshack.us/img219/1585/thepairsvs9.jpg

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #300
  • Edited 5:19am Sep 21, 2007 4:34am | Edited 5:19am

GBP/JPY BUY - 230.42
Issued: 20.09 | 10:09 PM (GMT)

Entry: 230.42
SL: 229.25

Floating: +245 +133 PIPS

I'm gonna have to go out soon so i wont be able to baby sit this trade anymore. I've moved my S/L to B/E and i've set a target of 233.50

Regards,
E. Lang

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