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  • #61
  • Dec 1, 2008 7:39pm Dec 1, 2008 7:39pm
Hi,

Very glad to see wonderful thread. Although I could not understand fully because I am not experienced but that will definitely help me to learn many more things which I am missing.

One thing please can you post the template?

Thanks again for nice thread
  • #62
  • Dec 1, 2008 7:43pm Dec 1, 2008 7:43pm
Quoting 786 trading
Hi,

Very glad to see wonderful thread. Although I could not understand fully because I am not experienced but that will definitely help me to learn many more things which I am missing.

One thing please can you post the template?

Thanks again for nice thread
I don't have a template that I can upload, but you can go to this post and apply the ma's/ema's that I use: #8

If you are new to Forex, welcome and I recommend you go here and dedicate some quality time: babypips.com

Trade well and ask questions anytime!
EO
Just digging in the trenches like everyone else!
  • #63
  • Dec 1, 2008 7:46pm Dec 1, 2008 7:46pm
Quoting manize
Nice to see this thread bro.

I have a question about M15 ema35 and 50 breakout and then wait on 10/21 to confrim the movement. Is it eligible both for short and long ?
Yes, this works both ways. You'll notice the ma's will cross when she goes down or up. Remember, ma's follow price, not the other way around, they are not the exact price to get in at all the time, but once you see the breakout has happend and you've missed your original entry, have patience and set PO's near the 10 price. Don't forget to account for your spread if your going short. If you need an example, I'll post a chart.
Just digging in the trenches like everyone else!
  • #64
  • Dec 1, 2008 7:55pm Dec 1, 2008 7:55pm
Quoting Vourvoul
......
I understand that you rule your entry based on the price action of the 15M. My issue with scalping is that I don't have a pre-defined exit and a price where I can place my SL at. For me these are two very important elements of every trade. Could you demonstrate these using the chart above (15M 28th November)

Thanks
I understand what your asking, but I don't believe there is a fixed amount of risk to every trade. IE I cannot say a 25 pip SL works on every trade. Cable moves, and we need to be able to move with her. If you notice all the candles I have circled on the chart for the 28th Nov, my entries would be on the following candles open. Sometimes, I'll wait to see if I can get a better price, because she normally will go up a little bit, no more then 50% usually of the last candle's wick. I've been burned waiting though, so caution here. That's why I lay the rule of enter on the opening of the following candle. You have to expect some drawdown on your account. Now, to your question on SL and on the prior posted chart. I'm looking for an exit if price get's above the wick of my entry candle. I do like to secure my position as soon as possible and let her tell me when it's time to get off and reenter. I find that when I scalp I don't have a problem, going short, then long, short, then long. It's like playing ping pong with yourself. I hope this answers your question. If not, let me know and I'll go deeper.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #65
  • Dec 1, 2008 8:14pm Dec 1, 2008 8:14pm
Quoting eohater
I don't have a template that I can upload, but you can go to this post and apply the ma's/ema's that I use: #8

If you are new to Forex, welcome and I recommend you go here and dedicate some quality time: babypips.com

Trade well and ask questions anytime!
EO
Thanks for reply: Yes I have done some study of babypips and some more stuff. I had applied the MAs you had mentioned.
One thing I had applied all MAs on close price.. is it correct?
  • #66
  • Dec 1, 2008 8:16pm Dec 1, 2008 8:16pm
Quoting 786 trading
Thanks for reply: Yes I have done some study of babypips and some more stuff. I had applied the MAs you had mentioned.
One thing I had applied all MAs on close price.. is it correct?
That is how I have mine setup. Don't forget to account for your spread when going short and your SL on your longs.
Just digging in the trenches like everyone else!
  • #67
  • Dec 1, 2008 8:30pm Dec 1, 2008 8:30pm
Quoting eohater
I so wish I could have traded the US Session the day after Thanksgiving....
Why my charts are different then yours? I am using Meta trader charts. And I can see you are using FXDD... both use Metatrader platform. But mine chart looking different. I could not see the specific candle ( shooting star I think) as you had circled for short entry.
Should I use FXDD chart instead of Meta?
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  • #68
  • Edited 11:09pm Dec 1, 2008 8:34pm | Edited 11:09pm
Great stuff Eohater. My mind is expanding which is just as well as it is the size of a peanut. By the way, what is an EO and why do hate them so much?



PS: I second EOhater on Babypips, that is where I learned the ropes, or rather how not to get backed up on them.
Starting to see instead of just looking.
  • #69
  • Dec 3, 2008 8:58am Dec 3, 2008 8:58am
Quoting eohater
I don't have a template that I can upload, but you can go to this post and apply the ma's/ema's that I use: #8

If you are new to Forex, welcome and I recommend you go here and dedicate some quality time: babypips.com

Trade well and ask questions anytime!
EO
Hi eohater, hope you don't mind me putting this in your thread, but it is helping me enormously and would probably help anyone new to forex...

http://www.candlestickforum.com/PPF/...andlestick.asp

keep up the good work
please DON'T copy my trades I am still learning
  • #70
  • Dec 3, 2008 9:29am Dec 3, 2008 9:29am
Quoting ezmystic
Hi eohater, hope you don't mind me putting this in your thread, but it is helping me enormously and would probably help anyone new to forex...

http://www.candlestickforum.com/PPF/...andlestick.asp

keep up the good work
Thanks for your contribution. I have not reviewed it yet, but I will and provide my input once I do.

Trade well!

EO
Just digging in the trenches like everyone else!
  • #71
  • Dec 3, 2008 3:45pm Dec 3, 2008 3:45pm
I've still been lurking on this thread but have had to curtail my trading as of late due to some bad trades and bad discipline in not following my own rules. I set up the EMAs last night on the EJ pair, which is becoming one of my faves, and almost got horribly burnt. I think I misjudged and ignored some important things, but I am still learning. I would post a chart, but am at work, but basically I thought it was headed for the 62 EMA on 1h and it was, but there was also a trend line that served as resistance. From there it reversed and went way wrong, almost 70 pips before I stopped it. I then just reversed my trade, since it was running south, and ended up getting 80 pips out of that one before I decided I didn't want to be greedy, especially as it was hitting a key pivot support point and missed out on only about 20 pips(which was the night's low btw). Overall, from that experience, I see even more the value of your strategy with a mix of experience in trading. I'll keep watching and studying and hopefully one day soon, I can start to become consistently profitable, even if only marginally so.
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #72
  • Dec 4, 2008 7:56am Dec 4, 2008 7:56am
Quoting therealist
I've still been lurking on this thread but have had to curtail my trading as of late due to some bad trades and bad discipline in not following my own rules. I set up the EMAs last night on the EJ pair, which is becoming one of my faves, and almost got horribly burnt. I think I misjudged and ignored some important things, but I am still learning. I would post a chart, but am at work, but basically I thought it was headed for the 62 EMA on 1h and it was, but there was also a trend line that served as resistance. From there it reversed and went...
You can do it.......

It has taking my trading to the next level, patience and discipline is needed.
Just wait for the setups, print out your charts everyday and review them. :nerd:

In time you will become a great trader also.

HOLLA
  • #73
  • Dec 4, 2008 1:48pm Dec 4, 2008 1:48pm
here are mq4 templates for eohater setup.
Attached File(s)
File Type: tpl eom15.tpl   1 KB | 1,100 downloads
File Type: tpl eoh1.tpl   1 KB | 955 downloads
  • #74
  • Dec 4, 2008 1:50pm Dec 4, 2008 1:50pm
how do you trade on the M15 and H1 using your MAs?


i know about the H1/62ema trade...it works great (im 2 for 2 so far)
  • #75
  • Dec 4, 2008 5:20pm Dec 4, 2008 5:20pm
Quoting mpurdy1973
here are mq4 templates for eohater setup.
I and I'm sure others will appreciate your setting up these templates and sharing them. I do not use mq4, so I will have to say the following:

I do not run mq4 so I do not have a way to review these templates. I do hope they have been configured the way I have described in the front of my thread. Please be sure to check once you install them.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #76
  • Dec 4, 2008 5:35pm Dec 4, 2008 5:35pm
Quoting mpurdy1973
how do you trade on the M15 and H1 using your MAs?


i know about the H1/62ema trade...it works great (im 2 for 2 so far)
Good job on the 1h 62ema setup. She's a beauty for sure! As any other type of support/resistance, she can and will be broken. There are many times, like today the 04 Dec 08, that the 15m gives a nice candle to confirm that she's going to hold and send her back down. If the 15m doesn't confirm, I would also be looking for the 1h candle itself to close flat (smallest wick possible)
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Just digging in the trenches like everyone else!
  • #77
  • Dec 4, 2008 6:11pm Dec 4, 2008 6:11pm
Quoting 786 trading
Why my charts are different then yours? I am using Meta trader charts. And I can see you are using FXDD... both use Metatrader platform. But mine chart looking different. I could not see the specific candle ( shooting star I think) as you had circled for short entry.
Should I use FXDD chart instead of Meta?
I'm not going to recommend one software over another. There are some excellent platforms out there to trade from and I believe it's a users custom fit to find which one is best for them.

As to your chart, you've posted a 1h chart. The chart I posted was a 15m chart. They would not look the same. Also, your ma/ema prices might be slightly different than mine based upon your data feed. The candle formations would be the same as long as our candles are closing at the same time. For example, I know that not everyone's 4h candle closes the same time.

I hope this helps, if not, let me know and we'll see what we can do to get you on the same page.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #78
  • Dec 4, 2008 7:16pm Dec 4, 2008 7:16pm
Quoting eohater
Good job on the 1h 62ema setup. She's a beauty for sure! As any other type of support/resistance, she can and will be broken. There are many times, like today the 04 Dec 08, that the 15m gives a nice candle to confirm that she's going to hold and send her back down. If the 15m doesn't confirm, I would also be looking for the 1h candle itself to close flat (smallest wick possible)

i understand, and that makes sense.

however, assuming you are far away from the h1/62ema... how then do you trade using your M15... are their other setups you follow?

i have been thinking why the 62 MA works:
1) 55 is a fib number
2) 60 MA is used a lot
3) normally on any area of interest (fib retracement, support or resistence, piviot point, etc), the market moves pass that point before reversing

i think the 62 ema catches that extra move from the people trading 55 and 60 MAs
  • #79
  • Dec 4, 2008 7:56pm Dec 4, 2008 7:56pm
Quoting mpurdy1973
i understand, and that makes sense.

however, assuming you are far away from the h1/62ema... how then do you trade using your M15... are their other setups you follow?

i have been thinking why the 62 MA works:
1) 55 is a fib number
2) 60 MA is used a lot
3) normally on any area of interest (fib retracement, support or resistence, piviot point, etc), the market moves pass that point before reversing

i think the 62 ema catches that extra move from the people trading 55 and 60 MAs

adding to this two charts (both the same - one is zoomed in)

i have three fib SMAs (13 - blue, 55 - red, and 200 - green)
i have added a 60 SMA - purple and your 62 EMA pink

looking at the charts you can see that today the MAs had confluence and your 62 EMA was the best entry of them all!

any thoughts
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  • #80
  • Dec 5, 2008 1:58pm Dec 5, 2008 1:58pm
Quoting eohater
Here are the charts that I use and what I have applied to them.

15m:
10ema, 21ema, 35sma and 50sma

1h:
10sma, 50sma and 62ema

4h:
5sma, 10sma, 50ema and 150ema

Day;
5sma, 35sma and 50ema

Please note, the charts have different types of MA's applied to them. Some are EMA's and some are SMA's. MA's are nothing more than floating support/resistance. I use them for balance points and price targets for profit taking.
Excellent thread you have going on here bro! I have recommended some people here in Jamaica to check out this thread after they have learned the basics because it is almost identical to the system I use and it is very profitable. This is probably as close to the holy grail as you can get!! It does require patience, discipline and expererience though and one should not take trades blindly without watching price action closely first.

The only thing I would add to the mas you have here is the m15 50ema and the daily 100sma. They also provide very good support/resistance along with the ones that you have stated.

I really admire what you are doing here bro! Keep up the good work!!
Patience + Discipline - Greed = Success
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