5EMAs Forex System - Opinions

[bossxero]

RSI is often used to stay with the trend. You can place RSI indicator on the daily chart with default settings, you should also add a level 50 line to the indicator. So if the RSI is above 50 on the daily, it indicates that Bulls are in control, therefore an uptrend. So if you want to stay with the trend, you should take only long positions on shorter Time Frames such as the M5,M15 and M30. Its the other way round for a downtrend.

I also use trendlines and draw channels. These methods are simple but very effective. Another trend indicator can be a 200 EMA, if price above it, means uptrend, the downtrend if below it. So using a mix of these indicators will often give u better results rather than sticking to one.

Hope that helps

[jgerousis]

I rememebr that the bunny girl system used 5 EMAs but then fell badly! Longer periods are better to trade, in my opnion.

[hanz]

Originally Posted by jgerousis

I rememebr that the bunny girl system used 5 EMAs but then fell badly! Longer periods are better to trade, in my opnion.

yea and when you've made wrong decision your stoploss will me 100pips

intraday is still the best for me

tight stop huge TP

[bossxero]

According to me, on the shorter TF, the probability for your stoploss to get hit is much more than on higher TF such as the H4 and daily.

Originally Posted by hanz

yea and when you've made wrong decision your stoploss will me 100pips

intraday is still the best for me

tight stop huge TP

[EECFX]

I want the EA for crossed MA

[WaveTrader]

As this is my first post I expect that I'll be shot down in flames but such is the price of speaking one's mind!

Having read all of this thread I can only say how disappointed I am at the totally uninformed and misrepresentative comments throughout.

The 5EMAs system is not:

1) a rip-off of the Aimefx method or,
2) an EMA cross system

In point of fact, it works extremely well and, as I am part of a large trading group (over 500 of us), I know very many people who both own this course and use the strategy profitably.

I accept that it may not appeal to everyone and, of course, it's not the Holy Grail of trading systems but I know people who take 15+ trades per month with it and are consistently hitting 100% winners so I guess it's quite a bit better than most of the courses available.

Anyway, that's my 2-cents.

[Attiqul]

I have backtested the Divergence method. I think you were initially correct to give it to people for free. Most of the material is basic divergence stuff. You tried to justify trades however you wished. It was like; thats a good trade so lets now make up some reasons for entering it. Also, the method leaves alot to discretion.

After reading the divergence method I will not be buying the 5EMA system. Also, in the 5EMA system, the trades you shown, were last years.

[Attiqul]

Which trading group is that? Is it a yahoo group?

Originally Posted by WaveTrader

As this is my first post I expect that I'll be shot down in flames but such is the price of speaking one's mind!

Having read all of this thread I can only say how disappointed I am at the totally uninformed and misrepresentative comments throughout.

The 5EMAs system is not:

1) a rip-off of the Aimefx method or,
2) an EMA cross system

In point of fact, it works extremely well and, as I am part of a large trading group (over 500 of us), I know very many people who both own this course and use the strategy profitably.

I accept that it may not appeal to everyone and, of course, it's not the Holy Grail of trading systems but I know people who take 15+ trades per month with it and are consistently hitting 100% winners so I guess it's quite a bit better than most of the courses available.



Anyway, that's my 2-cents.

[bossxero]

I would like to know that...

Originally Posted by Attiqul

Which trading group is that? Is it a yahoo group?

[et_phonehome_2]

Most systems will always tell you not to trade with the news since all this TA typically fails for the simple fact that indicators values are based on upon prior prices. Since price will be very volatile, you need to wait until it settles down.