depending on how much you have in your account is what you should base your stop loss on as well as how many lots you have in play. the other part is also what tf your are basing your trade on. the larger the tf, the bigger the sl. the smaller the tf you could go 10 or 15 on your sl, the bigger like 4hr, you probably need a 50 if you plan to get in and let it run for a few days. do not forget to move your sl to b/e as soon as you can, then keep bumping it so that you make pips. never let it run, you will get burned. also set your tp goals as well. this is a volitile market, so maybe look for smaller pips gains and a few more trades instead of trying to ride out for a home run trade. things need to settle down and that will take a while, probably until next year when you can make huge pips gains on a trade, but then again, maybe next week something will make the market freak. just a suggestion on my part, you will have to make this decision yourself. i say start small and when you get confident and have made trades and know how to read the signals as well as possible, then you can widen your sl. you will get caught once in awhile, but it will be because of some freaky news or geo-political nonsense that will get you.
EMA 25-50 Trading System (Detailed)
- #1,668
- Apr 28, 2008 2:53pm Apr 28, 2008 2:53pm
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
Trade what works for you. Screw everyone else and their opinion. Ema's work, stochastics work, macd works and a ton of other ideas work. It all comes down to what you are comfortable with.
I keep a 55 ema on the chart and use it for a rolling support or resistance line. Works pretty good. I love it when price pulls a long way away from it, I know a correction is coming soon.
The system in this thread works well. Like most it will have trouble during ranging markets but overall it will put profit in the account and that is all you need.
