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EMA 25-50 Trading System (Detailed)

  • #821
  • Oct 18, 2007 7:59pm Oct 18, 2007 7:59pm
effi

i have re-read your trading plan and have a question: by the candle open and close above or below the 50ema for trade entry, does that include the tail???
  • #822
  • Oct 18, 2007 8:00pm Oct 18, 2007 8:00pm
All you need is a candle to CLOSE below the 50 EMA or above.

You don't need the whole body and its wicks to be under the 50, just the closing price.

Nite Nite!
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #823
  • Oct 18, 2007 8:06pm Oct 18, 2007 8:06pm
10-4. thanks. i have a few more questions, but i will ask tomorrow after i re-read the rules again 20 times so i can ask better questions.
  • #824
  • Oct 18, 2007 8:18pm Oct 18, 2007 8:18pm
Whats up guys/gals!?

One thing I thought might be worth mentioning to people that are trading the 2550 is from some testing that I have done, there can be quite a few instances when price will spike and close below/above the 50 ema, usually from some kind of economic news. Well the point is generally there is profit taking right that usually happen with the next candle, causing you to get in at a worse price. You can watch your lower time frames to get an entry back in where the original open and close of the initial break. Just some food for thought. Hope it helps.

AH
"Your big opportunity may be right where you are now." Napoleon Hill
  • #825
  • Oct 19, 2007 12:43am Oct 19, 2007 12:43am
Quoting effilang

----------------------

UPDATE
----------------------


GBP/JPY SHORT



Entry: 237.41


SL: 238.36


----------------------
TRIGGERED
----------------------


Intraday


T1: 25 - HIT
T2: 50 - HIT


Swing


T1: 100 - HIT
T2: 150 - HIT
T3: 200 - HIT


Dang!


T1: 300 - Live
T2: 400 - Live
T3: 500 - Live



----------------------
COMMENTS
----------------------


Keep your heads up for Swing TP 3. Cash out if this is your target otherwise manual trail (check tutorial at the beginning of the thread)


[EDIT] - we just hit it.

Can you please be more accurate and detail us the meaning of the terms you are using? (SWING, DANG, Live) And for T1...Tn, do you mean that the target was achieved and you locked in or it was only achieved? Thanks!
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #826
  • Oct 19, 2007 12:50am Oct 19, 2007 12:50am
Effi,
If we have a new entry signal in the opposite direction we have to take it or we have only to wait eventually SL hitting.
Thank you
  • #827
  • Oct 19, 2007 5:10am Oct 19, 2007 5:10am

GBP/JPY Long


Entry: 236.40

SL: 235.00

----------------------
PENDING
----------------------

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #828
  • Oct 19, 2007 5:15am Oct 19, 2007 5:15am

GBP/JPY Long


Entry: 236.40

SL: 235.00

----------------------
TRIGGERED
----------------------

Intraday

T1: 25 - Live
T2: 50 - Live

Swing

T1: 100 - Live
T2: 150 - Live
T3: 200 - Live

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #829
  • Oct 19, 2007 5:36am Oct 19, 2007 5:36am

Intraday

T1: 25 - HIT
T2: 50 - HIT

"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #830
  • Oct 19, 2007 6:36am Oct 19, 2007 6:36am
hi effi, nice to see your thread here.


to be honest i know effi from a different thred he has posted in another forum - i am still using that system and it is very profitable.

havent tried yet this one but i can assure you - i will!!

looking forward.

Michael
  • #831
  • Oct 19, 2007 6:39am Oct 19, 2007 6:39am
Quoting deforexit
Effi,
If we have a new entry signal in the opposite direction we have to take it or we have only to wait eventually SL hitting.
Thank you
Why don't you answer?
  • #832
  • Oct 19, 2007 6:53am Oct 19, 2007 6:53am
Quoting deforexit
Why don't you answer?
not that i know much - but lets say you werent in that trade, would you take the new signal??
  • #833
  • Oct 19, 2007 7:23am Oct 19, 2007 7:23am
Quoting mamutot
not that i know much - but lets say you werent in that trade, would you take the new signal??
Absolutely correct.

There is more than one person trading here and following these signals, all in different time zones.

By the time we get a reverse signal we are already closed out of a previous trade.

Rare are the occasions when these overlap.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #834
  • Oct 19, 2007 7:24am Oct 19, 2007 7:24am
Thank you mamutot,
the question is: if I'm in a trade and a new entry signal in the opposite direction appears, what do I have to do? I have to remain in the trade until SL hitting or I have to take the new signal and reverse the position.
Thank you in advance for reply.
  • #835
  • Oct 19, 2007 7:27am Oct 19, 2007 7:27am
Quoting deforexit
Thank you mamutot,
the question is: if I'm in a trade and a new entry signal in the opposite direction appears, what do I have to do? I have to remain in the trade until SL hitting or I have to take the new signal and reverse the position.
Thank you in advance for reply.
Our last trade had a maximum profit potential of over 200 pips.

If you close a trade like that in loss, something is wrong with your trading.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #836
  • Oct 19, 2007 7:27am Oct 19, 2007 7:27am
Quoting deforexit
Thank you mamutot,
the question is: if I'm in a trade and a new entry signal in the opposite direction appears, what do I have to do? I have to remain in the trade until SL hitting or I have to take the new signal and reverse the position.
Thank you in advance for reply.
Effi answered it already, but i personaly would close and reverse..

otherwise its to confusing for me to deal with.

you should set yourself a rule that from now on you will follow.
what will happen the next time? it should be done immediatley without over looking, either you keep the trade and enter the opposit signal and wait for it to SL or you close and reverse.

M.
  • #837
  • Oct 19, 2007 7:30am Oct 19, 2007 7:30am
Quoting effilang
Our last trade had a maximum profit potential of over 200 pips.

If you close a trade like that in loss, something is wrong with your trading.

Regards,
E. Lang
To simplify things,

Trade with a set TP.
Even if the trade moves 200 pips, if you have a TP of 50 close out and go to a night club.

Come back the next day.
This way you dont have to confuse yourself and overcomplicate things.

Just choose a TP: 25, 50, 100 etc.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #838
  • Oct 19, 2007 8:02am Oct 19, 2007 8:02am
Quoting effilang
To simplify things,

Trade with a set TP.
Even if the trade moves 200 pips, if you have a TP of 50 close out and go to a night club.

Come back the next day.
This way you dont have to confuse yourself and overcomplicate things.

Just choose a TP: 25, 50, 100 etc.

Regards,
E. Lang
Hallo Effi!

What about letting your members here scale out with the help of the managetp EA that is all around here on Forex Factory? They could set TP targets as to your instruction and would also be able to move theirs stops into breakeven, small profit and nice profit with 3 steps.
Just an idea - it would let deforexit still gather nice profits while sleeping!

Greetings!
Gnat
Attached File(s)
File Type: mq4 managetpv34.mq4   6 KB | 703 downloads
  • #839
  • Oct 19, 2007 8:04am Oct 19, 2007 8:04am
Thanx dude, lets hope folks can put it to good use.

The fact of the matter is that, its NOT hard.

You set TP for 25, its hit, u cash out, but its after it MOVEs higher or further that your greed complicates things.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #840
  • Oct 19, 2007 8:09am Oct 19, 2007 8:09am
Quoting effilang
Thanx dude, lets hope folks can put it to good use.

The fact of the matter is that, its NOT hard.

You set TP for 25, its hit, u cash out, but its after it MOVEs higher or further that your greed complicates things.

Regards,
E. Lang
I am absolutely with you on that. But peolpe love to stick to rules ... If anyone has problems using this little helper they can contact me. Did not want to set you up with extra work here!

Bye!
Gnat
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