5EMAs Forex System - Opinions

[domooo3]

Hello every 1 , kinda late to post here , but i was searching for something and found this topic , so i had to make an input here since i have the 5EMAS standard and Advanced systems + Divergence system , the system works but depends on luck , and u`ll miss lots of lots of trades while looking for signals and waiting for the EA(Expert Adviser) to show the magical signal so u can open a trade , well guys it isn`t working , i tried the system and it wont work in long term , plus moving averages are lagging systems , which means it`ll make a signal when the move already occurred , if ur lucky and it`s long move then u`ll catch phew pips at the end , otherwise it just wont work , cuz the forex is fast moving market , not like stocks , etc , also the advanced system indicator depends on macd , macd isn`t for giving u solid entering signal , it`s to show if the pressure of buying\selling , is high or eased .,.
At the end it`s way better to learn pattern\candlestick recognition and divergence , and watchout for news time , and u`ll make lots of money if u worked hard , instead of hoping to find EA to tell u when to enter , etc . nothing comes easy , u want money , work for it , learn , spend time , dedicate ur self for it , and u`ll learn and become successful .
GL every 1 , bye .

[JForex]

Originally Posted by oilfxpro

Hi

You can do backtests and forward tests and then devise your system by making improvements to already profitable systems.
OILFXPRO

How do I know the already profitable systems? Can you name a few?

Thanks.

[JForex]

Originally Posted by mchill

I purchased the 5 EMA system. It uses two time frames, one hour and 15 minute. It also uses other indicators. It is a retracement system, when the price retraces on the hour time frame, and the 15 minute indicators line up, it shows an entry. Actually the system works good. Takes some patience since entry signals does not come along very often.

mchill

I think this is the best post on this thread so far - to the point.

Actually I also came up with my own method of entering when indicators line up across charts. I think I stopped losing money, if not making any.

But are you saying this method makes money along Retracements, and not along the actual trend? Isn't that odd?

[JForex]

Originally Posted by harold_hsu

Hey guys, chill!

How about we just try to focus on objective reviews of the 5EMAs system?

It's not surprising that different people will have different opinions regarding the same system... after all, trading is a very subjective (and personal) matter.

I did go through the 5EMAs system, and although I can see how some may think it's a bad system, there are actually very valuable lessons to be learnt from it.

You'll definitely want to modify the system's rules as you get more experienced in trading... but on the overall I think it's a pretty good system that can give new traders a solid foundation in their trading education.

Hi Harold,

Read your report. Thanks!
So wheres the rest of the information?

Are you the same guy whos talking in these videos?
Forex Brotherhood - Join The Club Of Elite FX Traders! on Yahoo! Video

Thanks.

[JForex]

Originally Posted by domooo3

it wont work in long term , plus moving averages are lagging systems , which means it`ll make a signal when the move already occurred , if ur lucky and it`s long move then u`ll catch phew pips at the end , otherwise it just wont work , cuz the forex is fast moving market , not like stocks , etc , also the advanced system indicator depends on macd , macd isn`t for giving u solid entering signal , it`s to show if the pressure of buying\selling , is high or eased .,.

Agree.

Originally Posted by domooo3

At the end it`s way better to learn pattern\candlestick recognition and divergence , and watchout for news time ,

Candlestick Recognition, fine. Pattern Recognition - are you talking about Chart Patterns like Triangles and Wedges etc. ? You think learning these two is good enough, or using them with some indicators? Whats your trading setup?

Originally Posted by domooo3

and u`ll make lots of money if u worked hard , instead of hoping to find EA to tell u when to enter , etc . nothing comes easy , u want money , work for it , learn , spend time , dedicate ur self for it , and u`ll learn and become successful .
GL every 1 , bye .

Totally agree. Just wanted to comment that even if we were to do the hard work ourselves than the EAs, even then we miss big moves and make mistakes... so perhaps having the system on the side is ok. Though relying on it 100% would be a mistake - thats true of any system, not only the 5EMAs.