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Introducing Mr EMA50 System

  • #1
  • First Post: Sep 25, 2011 12:17pm Sep 25, 2011 12:17pm
Dear FX Forumites,

Am happy to be back to this GREAT wonderful Forex Forum on the Globe!!

As a technical trader, i have used numerous Indicators couple of years since i started trading even Customised indicators, though they are helpful sometimes but i continue back testing them.
Recently, i found an indicator helpful all the time and i felt i should share it in this forum.

The indicator is EMA50. Forumites Please join me as i welcome Mr. EMA50.

Here is my setup:

BEST TIME FRAME: 1hour
CURRENCY: All Currencies
STOPLOSS: 20pips
TAKE PROFIT: NONE
TRAILING STOP: 5-10pips

BUY when second candle Opens ABOVE EMA50.
NOTE: If the first candle that opens Above Ema50 is 10- 20pips before the open of second candle, then is valid to Buy from the open of Second Candle. But if the first candle that opened Above the EMA50 has moved about 40-100pips, it is invalid but you can still pick out 10-15pips before it becomes fully invalid.

SELL when second candle Opens BELOW EMA50
NOTE: If the first candle that opens Below Ema50 is 10- 20pips before the open of second candle, then is valid to Sell from the open of Second Candle. But if the first candle that opened Below the EMA50 has moved about 40-100pips, it is invalid but you can still pick out 10-15pips before it becomes fully invalid.

Apply it and give me your feedback.

Enjoy your trades. Wishing you 1000pips with this System.

Regards,

PAULFOREX........ the Aggressive Trader


Below is my chart showing the EMA.
Forex is my Love! Forex is my Life!!
  • #2
  • Sep 26, 2011 5:42am Sep 26, 2011 5:42am
Quoting paulforex
Dear FX Forumites,

Am happy to be back to this GREAT wonderful Forex Forum on the Globe!!

As a technical trader, i have used numerous Indicators couple of years since i started trading even Customised indicators, though they are helpful sometimes but i continue back testing them.
Recently, i found an indicator helpful all the time and i felt i should share it in this forum.

The indicator is EMA50. Forumites Please join me as i welcome Mr. EMA50.

Here is my setup:

BEST TIME FRAME: 1hour
CURRENCY: All Currencies
[b]STOPLOSS:...


dont mean to intrude in your thread paul, but i have been using ema 50 very successfully for a few months now.

it is a good one. most traders use it.

iam curious to know how much success you have had with it and for what length of time ?
  • #3
  • Sep 26, 2011 6:11am Sep 26, 2011 6:11am
i use the ema 50 in a slightly different way to you.

some obvious questions arise with the use of your system:


1. for a buy, we wait for the first candle to close above the ema50. now, when you say above do you mean the first candle must open above and also close above ? i.e. the opening price of that candle has to be above the ema50 as well as the closing price has to be above ema50 ?

if the opening price does not have to be above ema50, then what if the opening price was 10 pips below the ema50, would that matter ?


2. you say we are looking for a move of 10-20 pips on the first candle. what if the move is only 9 pips, or say 30-35 pips, would the candle then be invalid ?


3. do you not feel a 20 pips stop is too tight, especially when trading volatile currencies on a 1 hour chart ? or is 20 pips stop the most profitable ?


4. what if the first candle has moved say 100 pips from its high to low. i.e. the total range of that candle is 100 pips. but in actual fact closed at say +15 pips from its opening price. and then the second candle opens at say 2 pips above that.

the fact that the first candle has already moved 100 pips even though it closed at only 15 pips above its opening price, would that still be a valid entry on second candle ?


5. lastly, what if the second candle opens with a huge gap in price from the close of the first candle, say the second candle opens with a gap of 10 pips. would the second candle still be valid entry ?


6. what about take profit ? any suggestions ?


7. what currencies / commodities does this work best in ?



thanks
  • #4
  • Sep 26, 2011 7:47pm Sep 26, 2011 7:47pm
Dear whatfx,

Thanks for your questions. I will try and use below charts to answer your questions.

Your number 1 question, the answer is YES. Both the open and close MUST be
Forex is my Love! Forex is my Life!!
  • #5
  • Sep 26, 2011 8:30pm Sep 26, 2011 8:30pm
Greetings to all ....

I read about this system ( or a variation of it ) about 6 yrs ago. Back then it was presented by a chap who called himself Nina. As I recall, that was the name of his cat! He lived in Spain I think.

The attached are my notes copied from the the forum I was reading at the time.

All in all, a good system whatever the variation.
Attached File(s)
File Type: doc Nina and the 50 MAE cross Notes 1.doc   52 KB | 2,321 downloads
Good Trading to All ---- fairwind
  • #6
  • Sep 26, 2011 8:58pm Sep 26, 2011 8:58pm
Quoting paulforex
Dear whatfx,

Thanks for your questions. I will try and use below charts to answer your questions.

Your number 1 question, the answer is YES. Both the open and close MUST be

Paulforex.....do yourself a favor and don't get into a discussion with whatfx....you'll regret it. I've seen his antics in other threads. He started a thread claiming to know the best systems. He claims to have "a list" and those poor readers think he'll post something worthwhile. I've seen him banned before after causing a major disruption in a thread. Converse with him and you'll see what I mean.
  • #7
  • Sep 27, 2011 4:48am Sep 27, 2011 4:48am
Quoting frollollc
Paulforex.....do yourself a favor and don't get into a discussion with whatfx....you'll regret it. I've seen his antics in other threads. He started a thread claiming to know the best systems. He claims to have "a list" and those poor readers think he'll post something worthwhile. I've seen him banned before after causing a major disruption in a thread. Converse with him and you'll see what I mean.

i dont think thats true at all iam afraid. yes i have been banned from one thread, simply because i criticised the system, which in my opinion did not work. iam honest and tell it like it is. i dont grovel up to anyone. if i ask questions about a system and thread starter is unable to answer those questions, then there is something wrong there. and if i subsequently get banned for raising concerns, then that is really thier problem.

like i said, i tell it like it is. and that is why iam making money. most people are losers and dont like it when people speak the truth.

as for the thread i started on 'best trading systems on forexfactory'. i still havent finished my testing of all the systems here on ff. every day a new system comes out. there are a lot of systems that need to be tested and it takes a long time. so what makes you think i will not finish off the thread i started ? and is it really good of you to come here and say negative things about me especially when i have never conversed with you ? what does that say about you as a person ? who is the troublemaker here ?


anyway, iam not going to spoil pauls thread by replying to you and your assumptions. paul is a good guy and deserves better, i suggest you not to spoil his thread if you are not happy.
  • #8
  • Sep 27, 2011 7:53pm Sep 27, 2011 7:53pm
hi paul


2 more questions i thought about:

does it matter if the ema is sloping or flat ? i mean we are just looking for the candle to cross over the ema, regardless of whether the ema is flat or not, right ? but in my expesrience it is best to trade when the ema is sloping as a flat ema usually means market is ranging...?

what if the candle that actually opens above the ema is the 3rd candle or the 4th candle ? is it still a valid signal after this length of time ?


thanks
  • #9
  • Sep 27, 2011 9:15pm Sep 27, 2011 9:15pm
Love to see different ways to trade with EMA50!
福 子 Victor V
  • #10
  • Edited 1:45pm Sep 28, 2011 1:15pm | Edited 1:45pm
Quoting whatfx
hi paul


2 more questions i thought about:

does it matter if the ema is sloping or flat ? i mean we are just looking for the candle to cross over the ema, regardless of whether the ema is flat or not, right ? but in my expesrience it is best to trade when the ema is sloping as a flat ema usually means market is ranging...?

what if the candle that actually opens above the ema is the 3rd candle or the 4th candle ? is it still a valid signal after this length of time ?


thanks

Hi Paul,

whatfx poses some very legitimate questions...please respond as we need to discover how this method is best traded.

I also have a question about the SL=20. You use a Trailing Stop of 5-10 pips. The TS will obviate the fixed SL from the git-go. I must conclude that you incorporate the TS after price has moved a certain distance into profitability otherwise there is no use for the 20 pip SL?

What if the 1st candle that opens and closes past the EMA50 is retracing back towards the EMA50 (as well as the 2nd candle open is also moving counter to the anticipated trade direction)? Do you still place a trade or wait for a better setup?

Many thanks,
BC2
  • #11
  • Sep 30, 2011 11:58am Sep 30, 2011 11:58am
Dear Forumites,

Am sincerely sorry for late replies to my post. I have some problems with my internet service provider. Am writing this by means of my phone.

I promise to answer ALL questions by using Charts where needed immediately my network is back.

frollollc, Whatfx, fairwind, Bobcat2, thanks for your responses.

My motive for posting my best Trading system (EMA50) is to encourage both new and old traders in this wonderful forum. Its really working for me.

I love you You ALL for your efforts and time spent in sharing your ideas.

Regards,

PAULFOREX.
Forex is my Love! Forex is my Life!!
  • #12
  • Last Post: Oct 10, 2011 4:58am Oct 10, 2011 4:58am
Quoting paulforex
Dear Forumites,

Am sincerely sorry for late replies to my post. I have some problems with my internet service provider. Am writing this by means of my phone.

I promise to answer ALL questions by using Charts where needed immediately my network is back.

frollollc, Whatfx, fairwind, Bobcat2, thanks for your responses.

My motive for posting my best Trading system (EMA50) is to encourage both new and old traders in this wonderful forum. Its really working for me.

I love you You ALL for your efforts and time spent in sharing your ideas.

Regards,...


hello paul....whats happening ./.
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