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Great ema schalping system

  • #21
  • Jan 27, 2010 6:58am Jan 27, 2010 6:58am
Quoting Neller
yes reason for that rsi is overbough over sold indicator. Ema forms a trading band which price retrace back into. If you start using this please post youre results for today i have made 50 pips with sl of 20.

Regards
Yes, I see the idea. You expext a retracement and benefit from it. I shall test it as seems interesting, but a bit risky for the reasons I stated before. Remember you are trading against the trend. However I shall try. What I have seen so far looks good.

However, my approach would be (we are scalping, do not forget):
- TP: 6 to 10 pips or
- close position as the candle closes regardless the result. i.e., trade will last at most 5 minutes.
- SL: 10 pips. If the candle goes further, it means that it is very strong. we'd better wait for the next candle.

I am using gbp/usd today (sorry, cannot post the graphic now). (GMT times) (spread not included in the computations) (not real trades, only looking at graphs, eh!):
- 10:15: good setup, 10 pips
- 10:25: not so lucky, -2 pips (with my approach of closing with the candle)
- 10:30: this one again a good one, +5 pips.
- 12:05: -1 pip. (if tp would have been 5 or 6 pips, it would have been a positive)
- 12:10: +2pips


total: +14 pips, from 10:00 to 12:10. Not bad.

I'll try to attach the graphics tonight (spanish time). I can't now.

Best Regards to all, and Happy Pips

gonso
  • #22
  • Jan 27, 2010 6:59am Jan 27, 2010 6:59am
Quoting lillelise
im not kidding at all....heres a demo statement from the last few day...almost identical with my own live trades....

my livetrading use a bit bigger lots...the demo is just for a freind im helping..

ps. theres not holy grail..and not just only one way to make it here in forex...
Totally agree there is no 'grail' but I can't ever imagine using such a crap R:R. But i also know you gotta work with what suits you so best of luck.
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  • #23
  • Jan 27, 2010 7:04am Jan 27, 2010 7:04am
Quoting PipSqueeze
Totally agree there is no 'grail' but I can't ever imagine using such a crap R:R. But i also know you gotta work with what suits you so best of luck.

if you try 1:1 or 1:2 you will get wiped out all the time....
anyway its not so simple...and i guess you need a bit expirence to do it..
StopLoss is for none belivers... Trust the Gurus..
  • #24
  • Jan 27, 2010 8:02am Jan 27, 2010 8:02am
Now can i ask that you can also post youre system here


Quoting lillelise
if you try 1:1 or 1:2 you will get wiped out all the time....
anyway its not so simple...and i guess you need a bit expirence to do it..
  • #25
  • Jan 27, 2010 8:10am Jan 27, 2010 8:10am
sure..no problem

candlestick charts 1m 3m 5m 15m
EMAs 200 120 55 20 10
looking at all charts at same time...once and awhile looking at 1h and 4h

and heres an update..
Attached File(s)
File Type: pdf statement27.pdf   98 KB | 531 downloads
StopLoss is for none belivers... Trust the Gurus..
  • #26
  • Jan 27, 2010 8:13am Jan 27, 2010 8:13am
Two question how do you make youre charts m3 and what is youre setup for buy or sell

Quoting lillelise
sure..no problem

candlestick charts 1m 3m 5m 15m
EMAs 200 120 55 20 10
looking at all charts at same time...once and awhile looking at 1h and 4h

and heres an update..
  • #27
  • Jan 27, 2010 8:17am Jan 27, 2010 8:17am
you need a period converter..to make 3m charts in metatrader.you find it somewhere in here..
buy and sell : basicly if the EMAs is down i sell and up i buy..
i take entries from 1m and 5m i also look for support and resistance on the 5m and 15m....
StopLoss is for none belivers... Trust the Gurus..
  • #28
  • Jan 27, 2010 8:32am Jan 27, 2010 8:32am
Ok now what do you use m1 and m3 for. And i dont understand youre entry if you have time will you be able and so kind to post one two screenshots of youre entrance because i cant realy understand what you are saying with ema up or down

Quoting lillelise
you need a period converter..to make 3m charts in metatrader.you find it somewhere in here..
buy and sell : basicly if the EMAs is down i sell and up i buy..
i take entries from 1m and 5m i also look for support and resistance on the 5m and 15m....
  • #29
  • Jan 27, 2010 8:37am Jan 27, 2010 8:37am
Quoting Neller
5 ema applied to the high- colour green
5 ema applied to the low- colour red
Rsi- 9 period with 70 and 30 levels

Enter buy if rsi below 30 and the new candle open below the red ema line.

Sell if rsi is above 70 and the new candle open above green ema line.
It is a counter trend method with a high risk.
Do you see a RSI divergence ?
  • #30
  • Jan 27, 2010 8:43am Jan 27, 2010 8:43am
Quoting Neller
Ok now what do you use m1 and m3 for. And i dont understand youre entry if you have time will you be able and so kind to post one two screenshots of youre entrance because i cant realy understand what you are saying with ema up or down

Hmm Neller

the EMAs are stacked...200 over the smaller ones...means trend is down..
then try to pick pullbacks..and use the 1m 3m 5m for entries..
StopLoss is for none belivers... Trust the Gurus..
  • #31
  • Jan 27, 2010 8:49am Jan 27, 2010 8:49am
see the EMAs stacked down wards
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 17 KB
StopLoss is for none belivers... Trust the Gurus..
  • #32
  • Jan 27, 2010 8:52am Jan 27, 2010 8:52am
Have to disagree with you about the high risk if you use correct money management. If you test it please leave review then and critize then

Quoting Thierry89
It is a counter trend method with a high risk.
Do you see a RSI divergence ?
  • #33
  • Jan 27, 2010 8:55am Jan 27, 2010 8:55am
Thanks allot for sharing so let me get this correct. You use 15m to detemine the trend with 200 ma. Then you go to smaller timeframes. Do you only trade in direction of the 15m trend. And then how do you pick a pullback.

Thanks allot

Quoting lillelise
Hmm Neller

the EMAs are stacked...200 over the smaller ones...means trend is down..
then try to pick pullbacks..and use the 1m 3m 5m for entries..
  • #34
  • Jan 27, 2010 8:57am Jan 27, 2010 8:57am
Quoting lillelise
sure..no problem

candlestick charts 1m 3m 5m 15m
EMAs 200 120 55 20 10
looking at all charts at same time...once and awhile looking at 1h and 4h

and heres an update..

Hi lillelise,

Good and impressive statement. My question is: are you using this scalping method with rsi9 and the two emas? Different setup? Different TP? Most results between 2 and 4.

gonso
  • #35
  • Jan 27, 2010 9:00am Jan 27, 2010 9:00am
Quoting Neller
Have to disagree with you about the high risk if you use correct money management. If you test it please leave review then and critize then
Sorry Neller but the counter trend is always more risky that the follow trend and this is a counter trend strategy... correct money management or not.
You must accept all comments and it was not a criticism.
  • #36
  • Jan 27, 2010 9:00am Jan 27, 2010 9:00am
Quoting Neller
Thanks allot for sharing so let me get this correct. You use 15m to detemine the trend with 200 ma. Then you go to smaller timeframes. Do you only trade in direction of the 15m trend. And then how do you pick a pullback.

Thanks allot
hard to explain.....if you have desided trend is down..looking at 15m 1h 4h... its something like if 1m or 3-5m turns up and make a turn you scalp short..
StopLoss is for none belivers... Trust the Gurus..
  • #37
  • Jan 27, 2010 9:02am Jan 27, 2010 9:02am
Quoting Neller
Thanks allot for sharing so let me get this correct. You use 15m to detemine the trend with 200 ma. Then you go to smaller timeframes. Do you only trade in direction of the 15m trend. And then how do you pick a pullback.

Thanks allot
hard to explain...but if you have desided trend is down on 15m 1h 4h...
then when 1m 3 or5m goes up and makes a turn...you scalp short...
StopLoss is for none belivers... Trust the Gurus..
  • #38
  • Jan 27, 2010 9:04am Jan 27, 2010 9:04am
Quoting gonso
Hi lillelise,

Good and impressive statement. My question is: are you using this scalping method with rsi9 and the two emas? Different setup? Different TP? Most results between 2 and 4.

gonso
just the EMAs look at pic i posted..and i use 4-5 pips profit..
StopLoss is for none belivers... Trust the Gurus..
  • #39
  • Jan 27, 2010 9:10am Jan 27, 2010 9:10am
Yes i agree with you but only going for a few pips. Market always retrace and you take that few pips which it retrace.

Quoting Thierry89
Sorry Neller but the counter trend is always more risky that the follow trend and this is a counter trend strategy... correct money management or not.
  • #40
  • Jan 27, 2010 9:14am Jan 27, 2010 9:14am
I am stupid but dont understand sorry. If you sometime have the time please just say which colout lines are which ema. And then an arrow or to where you have take an entry. If you have the time please share this with us.

Thanks

Quoting lillelise
just the EMAs look at pic i posted..and i use 4-5 pips profit..
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