To improve is to change. To perfect, is to change often.
Yet another moving average crossover system
- #42
- Oct 15, 2011 4:28pm Oct 15, 2011 4:28pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
Hi lawgirl 
few questions :
1. how long have u been trading this system on live account and what results did you have? maybe i got it wrong, but its not enough to say - last week it would produce 300 pips, its very easy but if u were not taking decisions entering trades, closing them etc it is not reliable.
2. you said there is no need for candles, so how do you enter your trades? 3 and 8 moving average (esp EMA's) are very short-term and lagging indicators so it's not so easy to backtest sth like that - it could be crossed much more times than u see in history during candles were creating but then it could reverse and close on the other side and bam there is no cross when u look back in history
3. pls dont take this all as some offence, its good that u want to help traders, there is so much "trading systems" in this section but im very sceptical they do work, i never met pro institutional trader(and i met a lot of them) who was using some ema crosses....it surely can be profitable but its not because of the "system" but because the trader who knows every aspect of the market he trade and the "system" is only some guide or sth like that, but i'm sure that every newbie will just get f*cked up again because of too much relying on TA changing "systems" and not being flexible to what market is telling.
wish you all the best.
regards mike.
few questions :
1. how long have u been trading this system on live account and what results did you have? maybe i got it wrong, but its not enough to say - last week it would produce 300 pips, its very easy but if u were not taking decisions entering trades, closing them etc it is not reliable.
2. you said there is no need for candles, so how do you enter your trades? 3 and 8 moving average (esp EMA's) are very short-term and lagging indicators so it's not so easy to backtest sth like that - it could be crossed much more times than u see in history during candles were creating but then it could reverse and close on the other side and bam there is no cross when u look back in history
3. pls dont take this all as some offence, its good that u want to help traders, there is so much "trading systems" in this section but im very sceptical they do work, i never met pro institutional trader(and i met a lot of them) who was using some ema crosses....it surely can be profitable but its not because of the "system" but because the trader who knows every aspect of the market he trade and the "system" is only some guide or sth like that, but i'm sure that every newbie will just get f*cked up again because of too much relying on TA changing "systems" and not being flexible to what market is telling.
wish you all the best.
regards mike.
- #49
- Oct 16, 2011 6:00am Oct 16, 2011 6:00am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
hi, i think that this is a very bad system for beginners and it can kill those micro & mini accounts because what most of the newbies will do (what i did 1 year ago), is that they will enter the market too early or at false breakouts very often. I recommend you to close this thread or to add some more rules to the system. No Offense..!
this one is quite cool in my opinion.
truth be told, technical analysis is not a must.
but since we can analyze part of the market with charts, so why not?
well.. this is a controversy
i see lawgirl with good setups, but that doesnt necessarily mean, its good for everyone like some people say.
@lawgirl, dont close the thread, you cant prevent failure, the true vessel of failure is the traders' themselves ie: i blow my account. i cant blame my system, (well i can...) but in the end i choose to use it and fail with it right? its in the end my fault.
a system should be stuck with if profitable really, but im not too indicator fancy, except ones that change timeframes, and show sessions lol.
but for peopel like lawgirl, this is their passion, their love, so i guess go ahead lawgirl
good luck with thread, i wanna see more of your setups haha they look intriguing
Best regards,
Buma
Have I got something on my face, SOLDIER?
Hey Mike, if u wanna backtest this, then its obvious closed bars that are referring to and thats pretty easy and straightforward. Otherwise it couldnt be done.
But every trader is not the same, some will close before others and some will let it ride. If u invented a bulletproof system with rules, i would bet u that introduced to 2 different kind of persons, they will give u 2 VERY different results.
But every trader is not the same, some will close before others and some will let it ride. If u invented a bulletproof system with rules, i would bet u that introduced to 2 different kind of persons, they will give u 2 VERY different results.
Hi lawgirl
few questions :
1. how long have u been trading this system on live account and what results did you have? maybe i got it wrong, but its not enough to say - last week it would produce 300 pips, its very easy but if u were not taking decisions entering trades, closing them etc it is not reliable.
2. you said there is no need for candles, so how do you enter your trades? 3 and 8 moving average (esp EMA's) are very short-term and lagging indicators so it's not so easy to backtest sth like that - it could be crossed much more times...
- #54
- Oct 16, 2011 8:55am Oct 16, 2011 8:55am
- Joined Dec 2009 | Status: Trader | 6,603 Posts
Something like this LG?
