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Here is my Forex Trading Method

  • #1
  • First Post: Edited Mar 19, 2009 1:55pm Mar 17, 2009 7:37am | Edited Mar 19, 2009 1:55pm
Hi

Here is how I trade the forex market on the 1 hr chart

Setup:

EMA pairs of 5 and 2 (5 in red color - 2 in black color)
EMA 50
stochastics at standard settings 8,3,3 (mainly for divergence)

That's all

I go short when price is below EMA 50 and when the black ema goes below the red ema

I also go short only when there is a pullback to the ema 50, so if the price is moving down then it retrace up to touch the ema 50 line then goes back down with ema 2 below ema 5 then I go short

For long just the opposite, price must be above ema 50.. price is movin up then it retrace a bit to touch the ema 50 and then goes back up with ema 2 crossing above ema 5 then I go long...

I don't risk more than 75 pips first target is 100 pips

if the market is moving sideways all EMA will be moving so close to each other I don't trade at that time I always wait to see a smooth movement
ABC kinda a thing to trade...

I average about 200 pips a week.

My partner started to post screen shots of entry and exit using my method
its at forexbox.info she will be posting the trades on weekly basis,
so knock yourself out

any comments or criticism will be appreciated

Thanks
FXPLODE!
エンジョイライフ！
  • #2
  • Mar 17, 2009 9:00am Mar 17, 2009 9:00am
Thanks for posting this.

I took a quick look at the GBP/UDS pair and noticed that there was a sweet sell signal at 7:30 New York time which of course I hadn't taken because I hadn't looked at your method yet.

But...on the one minute chart it retraced and touched the 50 so I took a quick short.

After some comings and goings I decided I had gotten in at perhaps the "bottom" of the slide and so got out with a 2 pip profit.

I like it that the signal on the one hour chart also shows clearly on the 5 and 1 minute charts too.

I'll study it more today.
  • #3
  • Mar 17, 2009 9:49am Mar 17, 2009 9:49am
if you are trading such a small time frame its always good to check larger ones to see the bigger picture and follow the trend.

I trade 1 hour chart and I keep an eye on 4 hr and daily
so if you are trading 5 mins chart you can watch 1 hr and 4 hr
charts to get the feel of the market and current trend.
エンジョイライフ！
  • #4
  • Mar 18, 2009 3:18pm Mar 18, 2009 3:18pm
Good reminder of how simple trading can be. I checked your partners blog.
I think it would be helpful to all if you could post screen shots of your trades here on FF.
Besides not risking more than 75 pips, what is the criteria for your MM?
How do you handle news?
What trading session (Europe, NY, etc.) do you find most productive?
Thanks much.
CCE


Quoting FXplode
Hi

Here is how I trade the forex market on the 1 hr chart

Setup:

EMA pairs of 5 and 2 (5 in red color - 2 in black color)
EMA 50
stochastics at standard settings 8,3,3 (mainly for divergence)

That's all

I go short when price is below EMA 50 and when the red ema goes below
the black ema

I also go short only when there is a pullback to the ema 50, so if the price is moving down then it retrace up to touch the ema 50 line then goes back down with ema 2 below ema 5 then I go short

For long just the opposite, price must be above ema 50.....
I get exercise just pushing my luck
  • #5
  • Mar 18, 2009 8:40pm Mar 18, 2009 8:40pm
Quoting FXplode
Hi

Here is how I trade the forex market on the 1 hr chart

Setup:

EMA pairs of 5 and 2 (5 in red color - 2 in black color)
EMA 50
stochastics at standard settings 8,3,3 (mainly for divergence)

That's all

I go short when price is below EMA 50 and when the red ema goes below
the black ema

I also go short only when there is a pullback to the ema 50, so if the price is moving down then it retrace up to touch the ema 50 line then goes back down with ema 2 below ema 5 then I go short

For long just the opposite, price must be above ema 50.....

FXPLODE,

Is there a mistake in your explination of your system. You say that you go short when the red MA (5) goes under the black MA (2) Should that have read When the Black goes under the Red. Please let me know if I am wrong

Thanks Z
  • #6
  • Mar 18, 2009 9:52pm Mar 18, 2009 9:52pm
seems like a nice and simple trading method, would like to have some screen shots and a little more details.

Cheers,
  • #7
  • Mar 19, 2009 3:06am Mar 19, 2009 3:06am
Quoting macockiner2
seems like a nice and simple trading method, would like to have some screen shots and a little more details.

Cheers,
Bro, the less details, the better Try read a book of D. Tharp
  • #8
  • Mar 19, 2009 1:35pm Mar 19, 2009 1:35pm
Quoting FXplode
Hi

Here is how I trade the forex market on the 1 hr chart

Setup:

EMA pairs of 5 and 2 (5 in red color - 2 in black color)
EMA 50
stochastics at standard settings 8,3,3 (mainly for divergence)

That's all

I go short when price is below EMA 50 and when the red ema goes below
the black ema

I also go short only when there is a pullback to the ema 50, so if the price is moving down then it retrace up to touch the ema 50 line then goes back down with ema 2 below ema 5 then I go short

For long just the opposite, price must be above ema 50.. price...
"My partner started to post screen shots of entry and exit using my method its at forexbox.info she will be posting the trades on weekly basis,
so knock yourself out"

What is the URL to the site with the postings? Can't find "forexbox.info.
  • #9
  • Mar 19, 2009 1:43pm Mar 19, 2009 1:43pm
Try this one, http://minimoneyblog.blogspot.com/

I trade any time of the day I don't wait for EU and US session
actually a lot of very good trades happen after the EU and US session

and yeah I made a mistake the 2 should cross below the 5 for shorts
or 2 above the 5 ema for longs
エンジョイライフ！
  • #10
  • Mar 19, 2009 5:50pm Mar 19, 2009 5:50pm
How about this one:

5 EMA Red
10 EMA Blue
80 SMA Yellow

Buy or sell when 5 EMA crosses above or below 10 EMA respectively.

Use SMA 80 as your trend direction.

You will be smiling to the BANK
EVERY PIP COUNTS!
  • #11
  • Mar 19, 2009 6:38pm Mar 19, 2009 6:38pm
Quoting shilox
How about this one:

5 EMA Red
10 EMA Blue
80 SMA Yellow

Buy or sell when 5 EMA crosses above or below 10 EMA respectively.

Use SMA 80 as your trend direction.

You will be smiling to the BANK
What Time frame and SL/TP do you use?
  • #12
  • Mar 20, 2009 1:59pm Mar 20, 2009 1:59pm
Quoting mlarocco
What Time frame and SL/TP do you use?
30 min, 1 hr,and 4 hrs chart.

When all three charts show the same pattern of trend movement, then you can execute your orders.

GOODLUCK
EVERY PIP COUNTS!
  • #13
  • Mar 22, 2009 10:25am Mar 22, 2009 10:25am
the use of the 5 and 12 is a very well used system, for any timeframe (even though you use the 10) and works acceptably well, including your instructions for waiting for ALL timeframes to line up, which is the BEST CONDITION for a good trade, but allow me to add something concerning EXIT points.

By using the "barrys support and resistance" chart overlays, you get a very good idea of where your tp point lives and if you add the bollinger bands you now have the FINAL point the currency should hit before it makes a major reversal.

using your ma's as an exit allows you to leave too many pips on the table, in my opinion, so give it a test ride on a demo and see if it works for you.

enjoy and trade well

mp
Attached File(s)
File Type: mq4 Support and Resistance (Barry).mq4   2 KB | 465 downloads
File Type: ex4 Support and Resistance (Barry).ex4   2 KB | 386 downloads
  • #14
  • Mar 24, 2009 9:06am Mar 24, 2009 9:06am
do u think 5 and 12 or 10 lag behind a little bit?
エンジョイライフ！
  • #15
  • Mar 24, 2009 12:31pm Mar 24, 2009 12:31pm
Quoting FXplode
do u think 5 and 12 or 10 lag behind a little bit?
Sounds like a good, simple system. Thanks for sharing. But I also agree with mparker in that exits are late. All MAs lag or overshoot, even Nonlag MAs because they are averages. Therefore you won't get an optimal entry or exit with averages performing a crossover. I think the best MAs are linear regression lines because of the statistical and predictive properties of them, but they also will lag.
  • #16
  • Mar 24, 2009 1:09pm Mar 24, 2009 1:09pm
Quote
I don't risk more than 75 pips first target is 100 pips
Sorry if I missed something. I looked on the blog. Saw that your exits are 100 pip targets. But you also mentioned those are your first targets. How many targets or exits are there? Disregard previous post if it doesn't relate to your exit strategy.
  • #17
  • Mar 24, 2009 7:20pm Mar 24, 2009 7:20pm
Would you please post a chart showing exactly how to do this? Thank you.
  • #18
  • Mar 25, 2009 9:22am Mar 25, 2009 9:22am
SO THAT TRO can copy it and deliver yet another indicator ?

will this one be free or will one have to "donate" ?

mp


Quoting ASnale
Would you please post a chart showing exactly how to do this? Thank you.
  • #19
  • Mar 25, 2009 5:37pm Mar 25, 2009 5:37pm
Quoting PiedPipper
Sorry if I missed something. I looked on the blog. Saw that your exits are 100 pip targets. But you also mentioned those are your first targets. How many targets or exits are there? Disregard previous post if it doesn't relate to your exit strategy.
My first safe exit is after 100 pips I exit 70% of my position at 100 pips and leave the other 30% running with a 50 pip trailing stop
エンジョイライフ！
  • #20
  • Mar 25, 2009 5:38pm Mar 25, 2009 5:38pm
Quoting ASnale
Would you please post a chart showing exactly how to do this? Thank you.
charts are posted every week here... forexbox.info
エンジョイライフ！
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