Day trades 5,10,20 ema | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EMA crossover (ema 14 & 34) 4 replies

Questions on EMA and EMA vs SMA 6 replies

Please help code an EMA Crossover 12ema x 24 ema cross 1 reply

EMA's and MA's confiming small time correctoin ema's crossing 1 reply

EMA Close Crossing EMA High/Low Help Please! 2 replies

Attachments: Day trades 5,10,20 ema
Exit Attachments

Day trades 5,10,20 ema

  • #1
  • First Post: Apr 3, 2009 7:44am Apr 3, 2009 7:44am
I wonder if anyone on this forum is making money--I think few.

The only way to make money is Money Management and a simple system.
And its really not that hard.

Here is an old one day system that is easy to use.
Use ema or sma at 5,10,20 (some like 4, 9,18) Yellow, blue, red
it doesn't matter really.

2 ways to play it..
1. The yellow cross from out of the green & red in that order. Works great you will have a lot of stop losses.
But if you let the winners run you will do great!

2. Better is make sure there is a R/S break & stay
(Better still is the old 1.2.3 break!!!!)
-- See the 6 yellow lines for buys on the chart below
The last one is for today

BUT watch the last day candle
- do not buy/sell a wick that is more then a 1/3 of the candle.

The SL is the last swing low (if that is to close do 2 swing lows)
Get into a free trade as soon as you can.

Keep moving up the SL everytime you have a higher Swing low.

Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 49 KB


In a strong trend use a IB to buy/sell in- like on this chart.

Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 42 KB




Chers

TEB
Attached Image (click to enlarge)
Click to Enlarge Name: 222.gif Size: 40 KB
  • #2
  • Apr 3, 2009 8:44am Apr 3, 2009 8:44am
I hear ya man.

I have spent the best part of a year studying, this system or that system, changing indicators, Fibonacci levels and throwing chicken bones on the table. I think the chicken bones and Fibo levels came out the best.

Just read Scott Carney's "The Harmonic Trader" all 305 pages in two days and I still don't get most of it.

I have personally used so many systems that I have confused myself to the point of wondering why I am even bothering anymore.

Still, the struggle goes on and I am about to give your system a try next week with maybe just some Fibo retracements added. Just so I don't feel cold being semi naked!


PS: What is an "IB"?

Thanks for the encouragement from your post.
Starting to see instead of just looking.
  • #3
  • Apr 3, 2009 8:57am Apr 3, 2009 8:57am
this indicators rather confuses me,i use sma(5,10,15) but it lags behind in detecting profitable trends,i switched to ema(5,10,15) although it has been doing fine i feel that i need to know more about using the ma as an indicator.
would appreciate your contributions.
thanks
  • #4
  • Edited 9:19am Apr 3, 2009 9:09am | Edited 9:19am
All set...And ready to get back to basics next week. Either that or the bones.

OK, I know, I also have a double RSI on the chart. Got to dry out slowly.
Attached Image (click to enlarge)
Click to Enlarge Name: TEB.jpg Size: 249 KB
Starting to see instead of just looking.
  • #5
  • Apr 3, 2009 10:28am Apr 3, 2009 10:28am
Inside Bar

An inside bar is a bar which is completely within the range of the preceding bar, i.e. it has a higher low and lower high than the bar immediately before it. An inside bar indicates a time of indecision or consolidation.

One way to trade them is to enter in the direction of the break of the high or low.

--Mark
EllisEdi Moving on to my next trade ...
  • #6
  • Apr 3, 2009 2:27pm Apr 3, 2009 2:27pm
Attached Image (click to enlarge)
Click to Enlarge Name: 444.gif Size: 47 KB



We might have some fun next week!!

Cheers

TEB
  • #7
  • Apr 3, 2009 2:29pm Apr 3, 2009 2:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: 444.gif Size: 39 KB


just easier to see


Cheers

TEB
  • #8
  • Apr 3, 2009 2:47pm Apr 3, 2009 2:47pm
Very few are actually making money long term sadly, sadly also you can't tell who or believe the 1's that say there making money Really is the blind leading the blind.

Check out my Weird Little System, thats all SMA based a few more SMA's though.

And doesn't really lag the weird way I use it, ofcourse there is always some lag it's impossible to pick a exact bottom don't even try it'll cost you, you've just got to pick the times to trade where once signalled kinda you've got enough pips of movement to make you happy left!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #9
  • Apr 3, 2009 3:00pm Apr 3, 2009 3:00pm
Quoting Turveyd
Very few are actually making money long term sadly, sadly also you can't tell who or believe the 1's that say there making money Really is the blind leading the blind.

Check out my Weird Little System, thats all SMA based a few more SMA's though.

And doesn't really lag the weird way I use it, ofcourse there is always some lag it's impossible to pick a exact bottom don't even try it'll cost you, you've just got to pick the times to trade where once signalled kinda you've got enough pips of movement to make you happy left!!

few win because they spend all their time on new "opennings" and miss you win the game in the mid game and ending.
The openning is the lest important part!

teb
  • #10
  • Apr 3, 2009 3:02pm Apr 3, 2009 3:02pm
Attached Image (click to enlarge)
Click to Enlarge Name: 444.gif Size: 69 KB


cheers

TEB
  • #11
  • Apr 3, 2009 3:04pm Apr 3, 2009 3:04pm
Quoting TEB63
We might have some fun next week!!

Cheers

TEB

More fun for next-week
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Apr. 03 23.56.gif Size: 18 KB
  • #12
  • Apr 3, 2009 3:20pm Apr 3, 2009 3:20pm
Quoting TEB63
few win because they spend all their time on new "opennings" and miss you win the game in the mid game and ending.
The openning is the lest important part!

teb

Correct Teb, thats what I've been preaching, I've got my opening game down tight these days, which leads me to improve my Mid / End game always another issue.

Not classing myself as making money yet, although i've had a good recent run, 21-0 +115%, but fully aware 1 stupid trade and thats easily erased.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #13
  • Apr 3, 2009 3:20pm Apr 3, 2009 3:20pm
good to see you back TEB
  • #14
  • Apr 3, 2009 3:56pm Apr 3, 2009 3:56pm
TEB63,

Thanks man, Great work. This is a KISS system (Keep It Simple Stupid) but its great. I'm using a similar method also, the only addition is that I added BBand (50,3) to show me dynamic support and resistance, so I don't get into a trade at the end of the trend, and I also look at the weekly chart to determine the trend.

Ayo.

Quoting TEB63
I wonder if anyone on this forum is making money--I think few.

The only way to make money is Money Management and a simple system.
And its really not that hard.

Here is an old one day system that is easy to use.
Use ema or sma at 5,10,20 (some like 4, 9,18) Yellow, blue, red
it doesn't matter really.

2 ways to play it..
1. The yellow cross from out of the green & red in that order. Works great you will have a lot of stop losses.
But if you let the winners run you will do great!

2. Better is make sure there is a R/S break & stay
(Better...
  • #15
  • Apr 3, 2009 4:58pm Apr 3, 2009 4:58pm
TEB

Welcome back! I must say that I have always liked your KISS techniques. However, I think for anyone to use this technique successfully one needs to apply solid money management and have targets in mind (a plan). Even a simple technique like yours will fail in the hands of most newbies if money management and targets are not in place. That is the hardest thing I have learned so far and I am still struggling with it. An entry is always the easiest, but the trade management is what is more important and will ultimately lead to success or failure.

For some people these things come easier and they become successful much quicker. You can give them a variety of systems to trade and they will make a success of all of them (I take you as an example here, you have traded lots of ways successfully). Some people will take a winning method like this one and screw it completely and that will be most of us.

I hope that this thread will discuss trade management and money management more than anything else as I think that will make it a success for many people. The entries of your method is easy!
  • #16
  • Apr 3, 2009 6:08pm Apr 3, 2009 6:08pm
Quoting TEB63
Attachment

just easier to see


Cheers

TEB
Doesn't get easier than that. Got to love simplicity!

I still belive most traders loose money as they are always searching for new ways to predict, new systems all the time and adding many indicators on screen to cover price actions. When the system does come to work they miss on profit as they keep on searching for more...
  • #17
  • Edited 8:26pm Apr 3, 2009 8:05pm | Edited 8:26pm
[quote=farimir;2650679]TEB

"....Welcome back! I must say that I have always liked your KISS techniques. However, I think for anyone to use this technique successfully one needs to apply solid money management and have targets in mind (a plan). Even a simple technique like yours will fail in the hands of most newbies if money management and targets are not in place...."

I would not use targets with this system as you are wanting to ride the winners ; you will have a # of losers.
keep moving up the "targets like below" just move to the next swing low.

Attached Image (click to enlarge)
Click to Enlarge Name: 555.gif Size: 41 KB




blue line is the entery
Yellow lines are ther Stop losses
see how you keep moving them up until you are taken out!

This would have been close to a 700 pip run not bad!!!!

cheers

teb
  • #18
  • Edited Apr 4, 2009 12:09am Apr 3, 2009 9:04pm | Edited Apr 4, 2009 12:09am
Quoting EllisEdi
Inside Bar

An inside bar is a bar which is completely within the range of the preceding bar, i.e. it has a higher low and lower high than the bar immediately before it. An inside bar indicates a time of indecision or consolidation.

One way to trade them is to enter in the direction of the break of the high or low.

--Mark

Thanks for clarifying the Inside Bar. For some reason I did not associate IB with an Inside Bar. Too tired from reading Harmonic Trading, I guess.
Starting to see instead of just looking.
  • #19
  • Edited Apr 4, 2009 12:11am Apr 3, 2009 9:39pm | Edited Apr 4, 2009 12:11am
TEB What is the average size of the SL on the daily?

Presumably this would have been a good entry a few pips after the high of the preceding IB.
So, we just let it run and get taken out by the SL after stepping it up?

SL looks to be somewhere around 150 pips though.
Attached Image (click to enlarge)
Click to Enlarge Name: TEB.jpg Size: 635 KB
Starting to see instead of just looking.
  • #20
  • Apr 4, 2009 12:34am Apr 4, 2009 12:34am
If anyone wants the Inside Bar indicator just to make it easier to spot them, here it is.
Attached Image (click to enlarge)
Click to Enlarge Name: TEB.jpg Size: 421 KB
Attached File(s)
File Type: ex4 iB_nn.ex4   4 KB | 534 downloads
Starting to see instead of just looking.
0 traders viewing now