Yet another moving average crossover system

Who uses Oanda MT4?

I am trying to adjust the times along the botton to UK times and it just isn't happening!

Thank's JPassion I have been using long TF's daily and weekly the problem with this is that there are big drawdowns although profits are much higher! How many pips on average do you take per trade. I use spread firms to trade as it is easier and no tax .....

I've been scalping on the M5 charts this morning. This pair just popped up though, so I put a 40 point TS on it...out with 35 pips.

Now the other direction for a few pips.

But wait...I should have paid attention to the 200 EMA. Looks like price is being repelled by that level.

Out with 8 pips.

I did not enjoy that ride.

Following Jpassion's method....

Marked the EMA cross on the M30
Waited for a pull back and then recross on the M5
Entered with tight SL
TS in place after initial target of 25 pips was hit
As I write this my TS just got hit and I'm out with about 27 pips

Waited for pullback...then riding again.

Out with 10 pips.

Doing the same with this pair. In and out with 10 or so pips at a time.

EU pips today down quickly out quickly

In terms of trading daily and weekly vs shorter timeframes - why are drawdowns bigger and profits higher? If you're position sizing correctly I can't understand how you come to the conclusion. If, at the end of the trade you make 3R you make 3R whether it's on the hourly, daily or monthly.
Where the longer TFs become more profitable is in the transaction costs vs the size of your win/loss as they tend towards 0 and of course if you are trading a large account and have to split your orders.

Spread betting - depending on which SB you're using you won't last long trying to trade on the m5, they'll put you on dealer referral if you start making any money, there is one with direct processing but the jury is out imo...and don't forget you actually have to be making money for tax to become an issue. Unless you are profitable the SB selling point is a moot one.

Pips on average per trade - it doesn't matter. Get out of thinking about pips imo.
What matters is how much money you took vs how much money you risked.
On the 5 minute I trade using daily pivots so that should give you an idea of how much you might expect price to move. Did you make 2R, 3R, 4R?? I look to make around 3R or if price hits a pivot before that point and looks like stalling I get out at that point. If price just shoots through a pivot I'll trail the stop. If the entry is straight into a pivot I don't take it unless price goes through. If I lose, I'm out for the day.

Movement again?

TS triggered..out with 45 pips

Charts

Right now on this pair.
Trendtrade after bounce of 200 EMA

Chopped out on cable today -1%, or for those interested in pips -7 pips. not a good trade anyway, broke one of my rules. C setup at best.
Out for the day. Ensuing price action shows was a good decision. Chop chop chop.

EURUSD and Cable not the pairs to trade at that time (idiot! didn't look!) - in correlation all roughly the same strength. Aussie by far strongest currency of the day at that time. AUDUSD should have been a no brainer.

http://i1202.photobucket.com/albums/...per/aussie.gif

http://i1202.photobucket.com/albums/...lper/cable.gif

I waited to pass the news and went long on EURUSD

I was late to the trades this morning, so I am scalping again.

Out with 20 pips, but it is still going.

Ok, it closed 40% at BE (+24 pips), 40% at TP1 (+49 pips), 20% by TrailingStop (+59 pips).