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simple trading plan

 
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westphjb

simple trading plan

Using two indicators (20 EMA and MACD 12,26,9 at closing price) Looking at 5M charts

Long trade
1. Look for price to be below 20 EMA and MACD negative
2. Wait for crossing of EMA and MACD going positive
3. Go long 10 pips above EMA
Place stop 20 pips below EMA and then as the trade favors move to trailing stop 15 pips from EMA

For short trades, everything same just opposite.

Thu, 12/27/2018 - 1:52pm
 
simantv

Looks good. I will try if it works.

 
teejay.gray

What is the 20 EMA crossing?

 
coltwinchester

I like how simple you trade plan is. I have used a variation of this and believe it works.

 
Davide

Yes, it`s a good plan. I used a variation of this and it worked for a while.

 
adeastin

looks like a good trading plan, I've used many different plans over the past year and found one that fits my personality. there are a lot of different ideas of what works but what I have found is as a trader your number one job is being a loss prevention specialist...
I hope to see you funded.
good luck

 
FX-Bajan

Hello West,
Congrats if you have a simple system that works for you.
I use a similar strategy [21 EMA and 8 EMA] with great success, so if you add an 8 EMA:
Buy - When the 8 EMA crosses above the 21 EMA
Sell - When the 8 EMA crosses below the 21 EMA.
Hope this helps.
I expect to move to GOLD II next week and then look forward to being FUNDED.
Have a great new year with many PIP filled days.

 
Rogerman

I like the simpleness of what you guys are doing. I am working on a slightly different plan I will put on the forum and post after I have tested a little more. Glad I found Apiary Fund and the hive and should be Gold 2 early in January.

 
fgold

Good luck with fund management

 
tdalejordan

I use something similar.
good luck.

 
marcel_z

What is ment by MACD negative ?

 
Barrnton

MACD negative would be the faster MACD line below the signal line. If your using a histogram, the space between the lines, it would show negative. So the filter here for the long trade is when the faster line crosses the signal line, making the histogram positive.

Hope this helps.

 
quincyadavis

That is simple indeed. But, makes sense though.
What if you experience a crossover after you've entered the trade? Do you stay in it until your stop is hit? Or do you manage the trade / exit early?

 
Barrnton

Since a crossover permits the trade, it's unlikely that another cross, (momentum change) would occur while the trade is on, unless there's a news event. if a news event you'll get stopped out soooo fast... More often the momentum slows forwarning of a consolidation or retrace. Your action here depends on the strategy used.

 
Gillis House

Nice straight-forward plan. What sort of trade profit levels are you getting? When do you exit?

 
memsells

How long does it take to get funded?

 
Nick Sammy

I takes about 5 minutes after completing Gold 2 because of the paperwork.

Getting to that point is up to the individual. Some it has taken a couple years. For me about 100 days. It takes another 2 weeks for your first increase if you don't have a huge drawdown.

 
leehuff72

make them pips

 
memsells

Easy come; easy go

 
burton

memsells, are you close to completing gold 2?

 
LIONMANPT

I KNOW A FEW TRADERS THAT USE THE 5EMA,12EMA AND 50EMA. WHEN THE 5&12 CROSS THE 50 THEY ENTER. SEEMS TO WORK PRETTY GOOD.