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How to use the 9/20 EMA setup effectively

  • #41
  • Jun 4, 2008 12:08am Jun 4, 2008 12:08am
Quoting 6pack
Off topic, but never buy a dog from a pet shop. There are millions of dogs "destroyed" each year in the US [and everywhere else], so I always take dogs from shelters. They are always such great animals!
6
Agreed, it is indeed a commitment and responsibility.

mt
  • #42
  • Jun 4, 2008 12:11am Jun 4, 2008 12:11am
Hi, I have a potential triangle pattern formation here. While the 9/20 ema is unclear yet, lets wait and see.

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  • #43
  • Jun 4, 2008 2:07am Jun 4, 2008 2:07am
I have a buy entry here...

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  • #44
  • Jun 4, 2008 4:40am Jun 4, 2008 4:40am
Ouch, I got caught in the line of selling fire power. Well that is the risk when somebody important is talking. Loss about 30 pips, what a way to start the day.

Will wait for a chance to go long again....

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  • #45
  • Jun 5, 2008 10:28am Jun 5, 2008 10:28am
Aiyah,

I hope that you're able to find the time to continue demonstrating this method. Simple clean charts; your explaination is easy to comprehend. Thanks again.
  • #46
  • Jun 5, 2008 10:40am Jun 5, 2008 10:40am
Quoting Rialto
Aiyah,

I hope that you're able to find the time to continue demonstrating this method. Simple clean charts; your explaination is easy to comprehend. Thanks again.
Thanks, i am glad you like it.

As I was required to be somewhere else yesterday throughout the New York trading session, I was not able to post.

Today is still busy but I manage one trade on USD/JPY earlier. I will check out other crosses to examine for the sake of demostration too.

Will attempt to update ASAP whenever circumstances permits.


Regards
  • #47
  • Jun 5, 2008 10:51am Jun 5, 2008 10:51am
I had one position today on the USD/JPY, and it is fairly easy to identify the trade. First, the price broke yesterday high, price floated around the high of the day indicating strength plus the 9/20 setup was a textbook classic. And stying with the trade was easy as it traded well above the 60sma most of the time.

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zoom in
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Here is an opportunity to go for a quick trade. I did not take it as I was away.
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Regards

mARK
  • #48
  • Jun 5, 2008 6:33pm Jun 5, 2008 6:33pm
I know you stated your preference as the 5/15m, but do you ever trade the 9/20 off of the 1hr or higher? I'm trying to discern the time frame of your charts. Thanks.
  • #49
  • Jun 6, 2008 2:53am Jun 6, 2008 2:53am
Quoting Rialto
I know you stated your preference as the 5/15m, but do you ever trade the 9/20 off of the 1hr or higher? I'm trying to discern the time frame of your charts. Thanks.
Hi,

all the charts posted here are 5 min charts, I use this setup exclusively for timing entry on an intraday basis. Using this setup on time frames like 1 or 4 hrs charts seems to have more fake signals and its better to wait for a whole candle to close above or below the 9 ema before initiating any trade. The signal would be to place an order one or two pips above/below the candle that closed above/below the 9 ema or when it crosses the 9ema again.
In time frames like 1 or 4 hrs charts, I place more importance on trendlines and price patterns, after which I would look at moving averages. Using MA exclusively very often requires a larger stoploss level. Even if you trade higher time frames, use the 5 min setup to find a good entry price and you will exprerience lesser "downtime".

Hope that helps

regards
  • #50
  • Jun 6, 2008 3:37am Jun 6, 2008 3:37am
Quoting aiyahmarklah
The 9/20 EMA setup has been a popular setup for a long time and it still works. However like all setups, they have their hits and misses. I have used them for a long time with good success.

The setup originated from Mike Bruns as mentioned by a forumer, and credit goes to him for such a powerful setup.

Here I shall attempt to list out all possible considerations in order to minimize the drawbacks. Under individual posts, I will list out the considerations as orderly as possible.

Coupled with very recent chart examples, I hope to create a sharing and learning platform towards the use of this setup.

The pairs discussed here will be EUR/USD, USD/CHF, USD/JPY with an intraday perspective.


Regards,

mt
bro,

just wondering. From mike bruns right? isn't it 9/30? if im not wrong he is dr elder's programmer. I did ask for his services to program me an indicator once. Missed those days. lol.

jest
  • #51
  • Jun 6, 2008 4:02am Jun 6, 2008 4:02am
Quoting jest1081
bro,

just wondering. From mike bruns right? isn't it 9/30? if im not wrong he is dr elder's programmer. I did ask for his services to program me an indicator once. Missed those days. lol.

jest
Yo brudder,

According to trading naked website its mike bruns, was introduced to this by a ex dealer friend of mine in 2003.

Hows the programming thing then ? Good ? I tech idiot hehe

regards
  • #52
  • Jun 6, 2008 5:03am Jun 6, 2008 5:03am
it was a custom indicator for metastock. lol. Pls dun ask, freaking embarassing. setup looks good. How do you handle the stops? Traded in series or a single setup bro?

Benssol,
havent heard from you for a long time man. Still smoking pips i see. You should really consider the pipes instead, they're tastier. lol
  • #53
  • Jun 6, 2008 6:12am Jun 6, 2008 6:12am
Ah...Jest i shall not ask then.

On stop losses, eh...i dont use pre dertermined pips, coz there are many factors like trendlines, ranges, S/R...but generally any situation where i need to have a 50 pip or more draw down in order to be "proven wrong" i will stay out.

Paiseh i dont quite get what you mean by in series or single. I O level nia


regards

mARK
  • #54
  • Jun 6, 2008 6:16am Jun 6, 2008 6:16am
mARK,

Understood. Thanks for the reply. Like this system.
  • #55
  • Jun 6, 2008 7:53am Jun 6, 2008 7:53am
Quoting aiyahmarklah
Ah...Jest i shall not ask then.

On stop losses, eh...i dont use pre dertermined pips, coz there are many factors like trendlines, ranges, S/R...but generally any situation where i need to have a 50 pip or more draw down in order to be "proven wrong" i will stay out.

Paiseh i dont quite get what you mean by in series or single. I O level nia


regards

mARK
i meant every signal taken? and position grows?
or you take a signal get out when u reach predetermined pips.

coz for example eurusd swing in the 5mins usually lasts abt 20pips on average.

regards
jest
  • #56
  • Jun 7, 2008 6:12pm Jun 7, 2008 6:12pm
Hi Jest,

apologies for my late reply, kinda of in an off mood last week as i am out drinking instead of trading.

I understand your question now....it depends on circumstances.

Say if i enter in the direction of the daily or 4 hr trend, then its usually a series of adding positions as signals occur. I would attempt to ride out at least 80% the average daily range on that direction.

If I am trading against the trend, then it would be more conservative. Typically getting out at a predetermined pips at very conservative take profits and stop loss.

Personally I try not to fall victim to a rigid set of rules or the system in question. Agree ?

Regards

mARK
  • #57
  • Jun 7, 2008 6:17pm Jun 7, 2008 6:17pm
Quoting Rialto
mARK,

Understood. Thanks for the reply. Like this system.
Hi Rialto,

You are most welcomed.

Any system works, practice is the key to making it work. Agree ?

Do let me know if you need more clarifications.


Regards

mARK
  • #58
  • Jun 11, 2008 3:53am Jun 11, 2008 3:53am
Apologies for my absence as i took a break from trading.

Well, today i am looking at USD/JPY. What i see here is a strong bullish bias and price bounced off the previous consolidation area. I am following to see if the trend continues today and hopefully ride it.

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  • #59
  • Jun 11, 2008 7:35am Jun 11, 2008 7:35am
Nice to see you back. Thanks for the chart.
  • #60
  • Jun 11, 2008 7:51am Jun 11, 2008 7:51am
Quoting Rialto
Nice to see you back. Thanks for the chart.

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