That's a picture of a trade i tooked a few minutes ago on gbp/usd.
http://aycu25.webshots.com/image/203...7187086_th.jpg
http://aycu25.webshots.com/image/203...7187086_th.jpg
Top 100 best Trading Systems: post good Trading Systems here 49 replies
Why exactly do EMA crossover systems not work? 529 replies
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EMA Crossover Systems 1 reply
DislikedI agree with most of your points. However anyone developing/using any mechanical system need to be wary of over-analysis and the tendencies of curve-fitting.
I remember what one of the traders in Market Wizards said
1) Follow the rules.
2) Know when to break the rules.
You can never do #2 without first developing your gut-feel. For newbies, there's only one way to develop that; trade only 1-2 pairs at one time.
Anyone familiar with Soros "reflexivity" theory? To me, trying to develop a 100% mechanical system is a sign of traders trying to treat the market like it's a branch of natural science.Ignored
DislikedWhy using support/resistance is better than ma crossover?
Everybody can see on their charts a double top but not everybody has the ema/wma/sma on their charts and those who have don't use the same settings.Ignored
DislikedI know a few people who trade ma crossovers on daily and weekly only and bring in more pips then i'd ever need. Currently creating my own daily crossover method for myself and so far on visual backtest range days can still be profitable and even if they were not the wins MORE then make up for the losses, that's the idea right?
Just because it does not work for YOU does not mean it's rubbish or useless. This thread is really quite negative. People should step off the soap box and if your sick off ma crossovers or whatever move on, build a bridge and get over it.Ignored
DislikedI love it when someone says they work because so many follow them. Uh follow the 5/8/10/13/20/21/34/50/55/89/100/200/365 period - which one and/or ones? And there then there are the smart ones (duh!) who use the numbers in between so they are not with the crowd. Not to mention all the different timeframes these MA's are plotted on. DO I have to list them too? 365???? Whats up with that one. Someone said yeah a year, even though its more than a trading year's worth of days. Sounds good to me.
Ignored
DislikedI know a few people who trade ma crossovers on daily and weekly only and bring in more pips then i'd ever need. Currently creating my own daily crossover method for myself and so far on visual backtest range days can still be profitable and even if they were not the wins MORE then make up for the losses, that's the idea right?
Just because it does not work for YOU does not mean it's rubbish or useless. This thread is really quite negative. People should step off the soap box and if your sick off ma crossovers or whatever move on, build a bridge and get over it.Ignored
DislikedBecause i'm in profit constantly and i don't see why i should change a system that works so well. Plus i like my charts clean. Indicators and ma don't tell me anything new that price itself doesn't show.
Use m1-m3,m2-m4,s-r pivot rejections in conjunction with fibonacci extensions and you will be amazed of how accurate you can determine a profit target.Ignored