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Thread: 200 EMA with RSI as confirmation.

  1. #1
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    200 EMA with RSI as confirmation.

    This strategy is very simple, it requires patience because it is based on the 4 hour time frame
    Before I go into how the system works, here are the settings:

    Moving Average
    Period: 200
    MA method: Exponential
    Apply to: Close

    Relative Strength Index
    Period : 10
    Apply to : Median Price (HL/2)
    Level : 50

    Time Frame USED 15 mins to 4hr

    RULES FOR BUYING
    When price breaks and closes above 200 EMA wait for RSI to touch or cross 50 below and form a V shape, as soon as the V is completed, enter buy at the open of the next candle.

    Stop Loss:
    Previous Swing Low

    RULES FOR SELLING
    When price breaks and closes below 200 EMA wait for RSI to touch or cross above 50 and form an inverted V shape, as soon as the inverted V is completed, enter sell at the open of the next candle

    Stop Loss:
    Previous Swing High

    Risk Reward: 1-1 Minimum
    Below is a chart of eur usd, notice that the V shape that happens after price crossed above the line 50, but I will not buy until price has closed above the 200 EMA as an extra confirmation because I don't want a false buying signal.


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  2. #11
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    Quote Originally Posted by glory3 View Post
    The 200 EMA Multi-Timeframe Forex Trading Strategy is really simple and has the potential to give you hundreds of pips each month. You see, with the 200 EMA forex strategy, you are trading with the trend and buying low and selling high.The 200 EMA is one of the most popular indicators of all time with Forex traders the world over. The RSI is another indicator in the class of its own altogether.
    Combining this with 200 EMA has consistently given me some good trades and profitable earnings, although I must confess that I have really been distracted lately and have been making some losses so I have decided to stay away from trading and clear my mind until all the things that are giving me mental pressure have subsided, I don't want to go back to consistently blowing my account anymore.

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  3. #12
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    Quote Originally Posted by simisola View Post
    Combining this with 200 EMA has consistently given me some good trades and profitable earnings, although I must confess that I have really been distracted lately and have been making some losses so I have decided to stay away from trading and clear my mind until all the things that are giving me mental pressure have subsided, I don't want to go back to consistently blowing my account anymore.
    This is a normal cycle in the forex business for everyone that is trading, sometimes we might lose focus on what we have been doing that gave us our success, that is so because life is full of ups and downs and you may not know what might happen the next minute, when we get distracted by certain things, the best decision as you have taken is to walk away from trading in a while.

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  4. #13
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    Quote Originally Posted by Ehis View Post
    This is a normal cycle in the forex business for everyone that is trading, sometimes we might lose focus on what we have been doing that gave us our success, that is so because life is full of ups and downs and you may not know what might happen the next minute, when we get distracted by certain things, the best decision as you have taken is to walk away from trading in a while.
    It is not meant to be normal in the sense that you are saying it, losing focus should not happen and we accept it just like that, a trader should not be in the market when he had a lot to think about which might affect his performance, I did not follow this simple rule hence I made the losses, it could is he been avoided if I just exercised some bit of self control.

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  5. #14
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    We can be trading and lose focus, there is no need to act as though this is a problem or not, it is absolutely normal because we are human beings who are proned to errors, what I see there is one's ability to learn from where we failed and move on with our lives as traders, you could be distracted by a need or a family attention, so much can happen as we trade which might affect us negatively.

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  6. #15
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    Leonvic, family or other always tell us to avoid this type of business because no one trust that here we can earn but its good business after one withdrawl you will trust and after your success all will appericiate you, so try to become a good trader and this business really can change your life so make self better in trade

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  7. #16
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    Quote Originally Posted by naeem555 View Post
    Leonvic, family or other always tell us to avoid this type of business because no one trust that here we can earn but its good business after one withdrawl you will trust and after your success all will appericiate you, so try to become a good trader and this business really can change your life so make self better in trade
    If we listen to what our family and even friends have to say about this business, I don't think that anyone of us would be here as traders today, the mentality is that Forex is always about losing, you cannot blame them for taking this stance because they have heard about all the negative stories which is really discouraging about how much is lost daily in the business.

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  8. #17
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    Quote Originally Posted by Ehis View Post
    If we listen to what our family and even friends have to say about this business, I don't think that anyone of us would be here as traders today, the mentality is that Forex is always about losing, you cannot blame them for taking this stance because they have heard about all the negative stories which is really discouraging about how much is lost daily in the business.
    It is because of the love and care that our families have for us that makes them to advice us against trading in this market, when we see how much is lost daily, I guess we cannot say that their advice is not necessarily important, they just want the best for us which is a good thing, but let's not disappoint them by trading recklessly.

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  9. #18
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    Quote Originally Posted by naeem555 View Post
    Leonvic, family or other always tell us to avoid this type of business because no one trust that here we can earn but its good business after one withdrawl you will trust and after your success all will appericiate you, so try to become a good trader and this business really can change your life so make self better in trade
    Forex trading looks like a joke to many people that don't understand exactly what it entails, you cannot completely disregard their opinions though, but we that are in the eye of the storm should ensure that we perform what is right, so I say we should try and put our best into trading, which is the reason we just cannot trade without proper money management.

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  10. #19
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    Quote Originally Posted by Leonvic View Post
    Forex trading looks like a joke to many people that don't understand exactly what it entails, you cannot completely disregard their opinions though, but we that are in the eye of the storm should ensure that we perform what is right, so I say we should try and put our best into trading, which is the reason we just cannot trade without proper money management.
    Putting our best into the forex business is very necessary whenever we trade, this is irrespective of whether we choose to trade to impress our families that don't like the market or not, being a dedicated trader gives you the confidence to trade in the market, trading is not a joke, there are a lot of things we can gain from it when our minds are made up to succeed the right way.

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  11. #20
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    Quote Originally Posted by Ehis View Post
    Putting our best into the forex business is very necessary whenever we trade, this is irrespective of whether we choose to trade to impress our families that don't like the market or not, being a dedicated trader gives you the confidence to trade in the market, trading is not a joke, there are a lot of things we can gain from it when our minds are made up to succeed the right way.
    It does not have to be the forex market but putting the best in whatever we find ourselves doing is very essential for the success we want to experience in that line of endeavour. See, there is no need to impress anybody before you can be convinced about the profitable nature of this business, no competition exists here. Forex is no joke, there is plenty of money to be made.

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