Originally Posted by Dr-4x

Hello every body;

In this thread I shall introduce you to the best system in FOREX world. I shall do this free of charge. Before I do that, please let me allow into these secrets (if I may call them):

1- FOREX trading is one big lie. It is a gambling game. No more no less. It has nothing to do with trading. Those guys out there want you to believe that, so they make as much money out of you.
2- Indicators are another big lie. This is a game driven by news and rumors, so why the hill use scientific approach to a game that has nothing to do with science.
3- Those boys and girls, who claim to have a successful system/formula, think foolishly that they have discovered the FOREX crystal ball. The fact is they are relying on crossover system (which is a part of the many components that make up their system/formula) which is really all there is to FOREX. They can discard all other components and still make the same rate of success.
4- After a while your eyes will get trained in catching good opportunities and that is due to much practice (practice makes perfect). Those boys and girls mistakenly think that the credit goes to the clever indicators they have developed. Not realizing the fact that they have spent enormous hours in front of their screens that their eyes are well trained for spotting good opportunities.
5- All you need is two simple moving averages system to alert you when the market sentiment changes. Unfortunately some times this sentiment changes very rapidly and that is why we get loosing trades.

The system: I use the following EMAs:

12/89 for 15 minutes time frame.
9/30 for 60 minutes timeframe (this is my favorites).
5/13 for daily time frames.

Enter long when the fast EMA crosses above the slow EMA. Vice versa for short.
Use the last swing high/low as your stop loss point.
Exit at the first sign of reversal.

THAT IS ALL TO IT. No need to make a simple game so complicated.

There are no hard and fast rules for exiting the position. As said before it is a gambling game. Practice those simple crosses and you will soon find out the best exit for your position.

Dr-4x