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Forex systems based on 8 and 21 ema,forex rates in pakistan,online trading platform singapore - PDF Books>

Buy when 3 EMA crosses 5 EMA upward in an uptrend market AND both 3 and 5 EMA cross a channel of 13 and 21 EMA AND RSI is above 50, and price is above 80 EMA. Entry with Sell order when 3 EMA crosses 5 EMA downward in a downtrend market AND both 3 and 5 EMA cross the 13 and 21 EMA AND RSI is below 50, and price is below 80 EMA. Note that additional entries are possible when 3 and 5 EMA cross back and then shortly after make a signaling cross again.
Note, that when we get the signal to enter we always wait for the current price bar to close and only then (if conditions nave not changed) - open a position. Keep an eye on 80 EMA, also watch RSI 21 to cross 50 point mark again - both will suggest immediate exits. 1 - critical stop - the widest point you can still afford comfortably and till which your trading position can remain open. EMAs indeed are lagging indicators, plus there cannot always be only winning trades; but the number and the size of winners must exceed the number and size of losers. On the first look your system appears to be fine, especially if you trade it on 1 minute charts, which is quite challenging itself.

I'm going to comment it, but we all should agree that it is my feeling and vision of this system, you can accept or disagree with it. Then, I see that you may easily drop EMA 40; EMA 10 and 20 can perfectly and much quicker tell trend direction on a 1 minute chart. Entry: watch for a candle to pierce 50 EMA and finally close above (to enter Long) or below (to go Short). I would probably try 14 RSI, it's a bit faster, it may confirm price expectations 1-2 candles quicker than, for example, 21 RSI. My first idea about exits for this system was to start with Fibonacci extension which will set some initial profit target. If Fibo is closer than daily average target, take partial profits at Fibs extension and allow the rest to hit daily average target, after which again set a trailing stop. For more conservative trading take positions that do not contradict with 80 EMA's trend suggestion. This is sure not a pleasant thing to accept a critical stop, but it allows traders to pick wider stops (in your case it could be, for example, 100 pips), thus giving the market a room to unfold the price actions and choose a direction in which to trade without triggering the stop prematurely.

I use one minut chart for entery and exit and H4 for direction and sence of market, I test my strategy on "forex tester Professional" and demo accout too and gain good profit but I fear on real account even with small investment. Taking a rule of set number of pips, like 20 or 30 or 50 etc for your stop is not the best choice, however the simplest. With 1 minute chart I would trade what I see here and now, not what I saw couple of days ago (that's when you use 4 hour charts).
I use one minut and daily chart and focus on AUDUSD, I wait for crossing but ema have lag and sometime false signal even in confirm of RSI, I confuse to knowing when is best time to enter.

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23.02.2014 | Author: admin

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