moving average simple trading

Sooner or later all Forex traders begin experimenting with different EMA settings.
Quite often very interesting combination can be spotted. Here is one Simple Forex system based on 50 EMA indicator.

Any currency pair.
Time frame: 60 minute or 4 hour chart
Indicator: 50 EMA.

Entry: watch for a candle to pierce 50 EMA and finally close above (to enter Long) or below (to go Short). Enter with the second candle after it makes 5 pips higher than the previous one.
Exit: not set.
Stop loss order: 15 pips below 50 EMA.

source:forex-strategies-revealed

never give up

dont use the word 'sure' so lightly. show your results?
demo or live..

A/U short

^close with 9 pips

Thanks swingtrader.
Your system is so simple that I can fully understand.
Probably you should add in how to take profit or probably move the stop loss to break even when you achive certain level of profit

Thanks Swingtrader,
I am new to trading and have only started strategy trading a week ago, however i think its key to discuss my progress with others. I have just been taught a similar strategy, however i use it based on the 5 min chart, i have only just started using it so am yet to make up my own mind on its affectiveness, but others have given it good reviews, so i thought ide put it out there.

I only will trade long if the daily, 4 hourly and hourly chart agree the trend is long. If i see this i will enter the trade as my bar (i use bar chart not candlestick) retraces toward the 50ema and touches it. Then i set a stop loss and take profit 20 pips above and below my entry price.
And vice versa with short trading.
A bit of tweaking to suit myself is needed i think, but would be nice to hear others views.
Rob.

I trade with moving averages too. If it isn't problem, I up something from me:



Regards
VP