Great ema schalping system

Quoting Tmac

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There are parts of this system missing but if traded as it was meant to be it will can and has changed lives for the better. You do not need MA's and the rest, keep it simple and leave out the indisquigglies (indicators) from trading

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Quoting lillelise

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if i havent told it here....im splitting my positions...somelike if you use moneymannegment... and you maby use 2% and thats about 40-50 pips
for 10 dollar a pip...then i basicly just split the 10 dollar to 3-5 positions.
in this way you dont need to completly hit top and bottom....
and as long your sure what the trend is...then its no problem..

and as you maby have noticed..im still taking trades between waiting for target to hit

hope it explains

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Quoting sashasan

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hi, lillelise, thanks for sharing your system and such a great experience!!!
would u clarify about that a little bit - after u open a position, when it's comes up in profit do u begin close it by small portions like 1/3 or 1/5 of the initial lot size? and if so, is there a difference to divide them in some particular ratio (by fib for ex) or just by the equal sizes?

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Quoting lillelise

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i mostly close all positions in 4-5 pips profit

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Quoting lillelise

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no i trade from 1-2 hours before london open until 2 hours before ny close....in that timeframe..

and ps.. good night..im off to bed..its late here

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Quoting sinogend

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I got a question, you said both green and red EMA are 5, how could you do that? thanks

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Quoting Tmac

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you trade in the direction OF the trend, be it 1 hr 4 hr or however long you are going to trade you will look for only longs or only shorts and let the winners run with the trend, use the mid RSI line as S/R then

discretionary trading comes into play on any system. on a good down/up move you can see many candles close outside the channel, this is where a real trader will recognize this and trade it accordingly by letting a good trade run and stopping a bad one if taken.

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Quoting Tmac

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pull up a demo and setup your charts per post #1 and watch PA, concentrate on one pair at a time and practice, practice practice. being in a trade is not the same thing as trading.

First to trade you need a sound money management plan for every trade you take, This is #1

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Quoting Tmac

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here are results from post #1 if you trade it right

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Quoting Tmac

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it has been explained already in a previous post

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Quoting lillelise

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heres the link.... and i just use the template i posted earlier

http://mibbit.com/chat/?channel=%23S...irc.mibbit.net

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Quoting Neller

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I have a great system which can produce many pips each day but it just need one thing and i though maybe we could help each other and then we can all benefit from it.

I only trade it on the eur/usd and gbp/usd 5 minute chart. The indicators:

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.

Make sure move back into the chanel...

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Quoting redart007

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I'm abit annoyed that some of the ill thought out questions regarding the original system that has caused Tmac who seemed to really know this system and could have really helped - delete his posts....its a shame.

Also the other system should have gone to another thread as it just didn't give the 5ema system a chance.

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