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May 15th 2007
For my trading methodology, I’ve started off with CCI and Trendlines, before Dan from Life Holdings come into the picture with 200EMA as well as MACD right now at this point. From time to time I’ll insert Fibonacci retracements and Bat Indicator developed by Team Aphid.
Infinity Shares team has taught me well on the fundamental part of forex as well.
So which indicators do you actually use for your trades?
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Hello Jude,
as I read Dan was using 200 ema and 200 sma with macd, do you use them both?
How do you use this emas to entry in the market with macd and how are your tp and sl.
Thanks,
Jose
I used only 200EMA since I notice that usually the candle likes to follow 200EMA more often.
For SL, currently I’ll set it at -50 for cable (since it fluctuates alot) and for TP, I’ll take the BAT indicator to decide on the TP. Sometimes I’ll just let it run if the MACD shows alot of room, but I’ll shift the SL to the profit zone (if the pips clocked is more than 30)
EG. Right now I’m 35 pips on the pound and I’m expecting the Average Earnings Index Bonus q/y to be good later on. Shifted the SL to above the pipspread.
As we can see, there’s alot of room on the MACD to the upside and the 200EMA/SMA is on top, high probability it will be heading towards that direction.
Thanks Jude,
I will check it
On the other hand Jose, the inflation report an hour later after the AE Bonus might be pulling the cable down. I’ll close the trades right after the AE Index Bonus since we won’t want to speculate and gamble on the results of Inflation report.
Do you remember the pivot indicator that I posted in my Blog Jude?
It’s easy, it places the pivots in mt4 chart (1 hour) with 2 zones: buy zone and sell zone. I don’t trust the trend alerts in this indicator, only these zones.
I have been testing this method based in pivots with my girlfriend (I must admit that my girlfriend is better than me… more disciplined lol) and we have so much more success than losses. These 15 days almost 90% success.
In fact it’s easy to calculate manually the pivot (with daily chart), then begin the buy zone 20/21 pips upwards (with 20 pips more upwards to create this zone) and 20/21 pips downwards from the pivot in the same manner, but this indicator makes it all automatic
We only wait the price to enter in one of these zones (1 or 2 pips inside), we have seen that GBP/USD and EUR/USD are the best. We don’t trade with this strategy usd/chf or usd/jpy yet. It’s only to get 15 pips with eur/usd and 20 pips with gbp/usd daily. Some days you can not trade because the price is out of these zones. We are also testing the second buy and sell zones.
But pips don’t matter, we place a medium lot to gain some more money because we are getting good results (we imagine it’s with a real account and not risking so much but gaining enough money), and we do this:
GBP/USD: target price: 20 pips, stop loss: 30 pips
EUR/USD: target price :15 pips, stop loss: 25 pips
We will continue testing this strategy during some weeks more but I have the good impression that it’s a winning strategy, and I don’t need more than these pips daily: I could gain some good money and percentage every month in a real account
I will keep you informed.
Jose, would you mind joining us as a blogmaster in Nobsforex and post your strats to share with our readers as well? You can link back your entry to your own blog anytime.
Of course Jude, no problem