Price data can change very much from every day and still conceal if the price is growing or decreasing. You see even a more general picture if you watch the price moving averages on higher time frames.
E = Entry (In) (might be SHORT or LONG)
O = Out (Exit)
Bars crosses EMA 9 for Entry (or with EMA9/20 crossover). Out could be with EMA9/20 intersection.
The "O?" markers stands for EXIT when you think pips are enough at this point.
ServerUang: Hi chris_swiss, Your system is almost similar to my system but my system using a time frame for 1 minute. can I know the function of ema 55 and ema 120 ?
is that for looking the bigger trend ?
EMA 55 and 120 gives you the global trend,..., see furher #20 (permalink), please. The 10-sec.chart in #23 (permalink) depicts EMA 55 as resistance line.
You have to use the 10sec.-strategy with MTF.
It's better looking on multiple time frames seeing what's going on at 1 min and 5 min and 15 minute TF's. Here you can work out the global trend.
forex hurricane: hi
ur system can we use it on 1min TF did u ever try it
I haven't give it a shot on 1 min TF. When you see this strategy on 1 min TF it might be possible with a pinch of salt in highly narrow trending channels. But when you would deal the system with 1 min., it would be possibly even looking at 5 min and 15 min time frames at once, monitoring the more global trend.
See attachment results 09-04-2009 with EUR/USD, EUR/JPY & GBP/JPY - but then you have keeping together the open positions for a longer time and trade with less capital.
chris_swiss: I haven't give it a shot on 1 min TF. When you see this strategy on 1 min TF it might be possible with a pinch of salt in highly narrow trending channels. But when you would deal the system with 1 min., it would be possibly even looking at 5 min and 15 min time frames at once, monitoring the more global trend.
xx3xxx: i.e. only computer can trade that fast
if you use any manual thinking system, you will loss (much higher probability -- not to mention , broker make more of your money by getting bigger spread or unfavor rate during fast movement)
One man's meat is another man's poison?
Absolutely, you are right!
The 10 sec-Strategy isn't made for all market conditions. You have to get out before news enter the market and brokers are offering bigger spreads. Then it' might be better to turn on 1 min or 5 min TF's.
In normal market conditions Oanda prefere on EUR/USD 1.5 spread.
The 10-sec.Strategy is a behavioral trading strategy.
You haven't make up your mind about the market.
Don't think about market movements, you haven't the time for it. Look solely forward at price movement. (not that much by 1 min TF).
Your task is to be responsive to the price movement for the limited purpose.