EUR/USD 15M EMA CROSS

[lopezoscari]

Indicators 5, 20 EMA Close
Envelopes 20 EMA Close .1% deviation
RSI Chart Bars Period 14 Overbough 55 Oversold 45
MA crossover alert 10, 20 EMA At open
Start trading at 3 am ast Europe open

This is a very simple method that is giving me very good results.
1. M0ney Managemet
Goal for the week 6% account increase 3% Risk in 100 pips
Example Balance $500*.03/100=.15 micro lot (IBFX accepts that)
Total pips to achieve goal 200 week = 40 per day
Risk Take profit 40 pips stop loss 20 pips. Using this method if you put 20 trades you only need to win 7 trades to be 20 pips in profit.
The concept is very simple what is important is having a specific goal for the week, do not over trade and again stick to your goal.
I simply waits for the cross over in the 15M chart and waits for the bar to close, the close RSi needs to be over 55 or under 45. Also I trade the retracement when the bar touches the 20 EMA Line or in the .10 % envelope area. I usually make the 40 pips goal for the day in the first hours of trading. I has learned that the important thing in forex is always make the same ammount of pips and week by week when your account grew larger the size of the lot is going to be greater also. You need to understad that probably making $30 in a week is not much, this is while you gain confidence. But if you have 5000 and make 6% that is $300. Its only a matter of time. Also be aware at what time the economics reports are out. IS good to time your trades. If you want to see an example charts or need some indicator just ask. lopezoscari@gmail.com

[Enivid]

Thanks for sharing! How long have you been using this strategy?

[lopezoscari]

I has been using it for ten months more or less. My story is no different from anybody. I start with $800 account that reach $100. Right know my account is building up again, slowly again but steady going up. Goals and stop losses are the key. Never stalk the market waits for the perfect entry opportunity. Dicipline. This are my trades for today. 10/20/2011

[Enivid]

10 months is quite a long term for testing one strategy . You look to be disciplined enough for Forex! What do you think about switching from the conventional moving averages to 3rd generation MAs, which result in less time lag?

[lopezoscari]

NO never tried them.

[lopezoscari]

Trade 1 AT Europe open. Market is already down trend 40 pips and I am done for the day. Stick to my goal of 40 pips a day. Pips this week 225. Account increase +/- 6.3% There are other good opportunities during the day but I do not over trade. I don't care if the market moves 10000 pips I stick to my goal.

[Enivid]

Originally Posted by lopezoscari

NO never tried them.

I recommend trying. They will probably improve your results if you are already using MAs.

[lopezoscari]

Thanks for the advice I am going to do some research on them

[Benson]

I usually post my daily outcome of my trading day on other blogs. Im new to this one and decided to post on this one as well .... Have a good weekend everyone..

[Pipsrus]

Hello everyone.. I will be using the 3rd gen MA this week. I also use MA for my entry point Yet I base it on Higher Margin (1000:1) while using 33% of my entire account value to open one position. If you look at the MA crosses you will see that they very very very well. A stop loss of 30 is amazing. Which is why I use High Margin. Here are the stats using the MA which I use.
--------------------------------------------------

**Crossed over MA: 64
-Moved more then 30 points: 50/64
-Short lived less then 15 points:14/64
**Crossed over Failed: 9
-Fake cross over and push in opposite direction 3/9
-Fake cross over and push in original direction 6/9

76% of the times
when it crosses you get 30 points or more
Your chances of taking a position and being in red for more then 30 mins is 14% of the times
In which your account will get cleaned out on 1000:1 margin even if your stop loss is 30 points 4% of the time

I know my margin is high... I just place my trades on the odds that a trend will happen again...