Do not try to fight back at the market when you lose some trades, just get off your computer screen, walk the dog, or just do something away from you trade window.
I’ll advice that you take the whole day off to do something away from trading.
When you’re refreshed and back in the markets, I’ll recommend that you tryout our Zero Predictive EMA forex trading strategy for a change.
The system is easy to adopt and does bring in good results.
MetaTrader4 Indicators: EMAAngleZero.ex4 (Inputs Variable Modified; EMAPeriod=50), EMAPredictive2.ex4 (Inputs Variable Modified; LongPeriod=50.0, ShortPeriod=16.0), 14 EMA
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Initiate a buy entry if the following indicator or chart setup gets displayed:
- If the blue 14 EMA indicator line intersects the red EMAPredictive2.ex4 custom indicator line in a bottom up fashion as shown on Fig. 1.0, the sentiment in the market is said to be somewhat bullish, hence a buy entry will suffice.
- If the fire brick & lime green histograms of the EMAAngleZero.ex4 custom indicator gets placed above the 0.00 level as depicted on Fig. 1.0, price is experiencing an upward push, and it’ll be appropriate to go bullish on the selected currency pair.
Stop Loss for Buy Entry: Place stop loss below the rising blue line.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions take preference:
- If during a bullish trend the blue 14 EMA indicator line intersects the red EMAPredictive2 custom indicator line, an exit or take profit is recommended.
- If the EMAAngleZero.ex4 custom indicator forms a fire brick histogram below the 0.00 level during a bullish trend (refer to Fig. 1.0), it is a trigger to exit or take profit at once.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the blue 14 EMA indicator line cuts through the red EMAPredictive2 custom indicator line in a top downward manner as seen on Fig. 1.1, price is said to be pressured lower, as such a sell entry will be sufficient.
- If the fire brick & yellow histograms of the EMAAngleZero.ex4 custom indicator gets aligned below the 0.00 level as illustrated on Fig. 1.1, the market is in favor of downward price movements, hence a trigger to go short on the designated forex pair.
Stop Loss for Sell Entry: Place stop loss above the falling blue line.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the blue 14 EMA indicator line intersects the red EMAPredictive2 custom indicator line as illustrated on Fig. 1.1 during an active sell market, an exit or take profit should be considered.
- If the EMAAngleZero.ex4 custom indicator forms a fire brick histogram above the 0.00 level during a sell alert as shown on Fig. 1.1, it is a trigger to exit or take profit without delay.
Sell Trade Example
About The Trading Indicators
The EMAAngleZero.ex4 custom indicator is a filter that helps keeps traders away from sideways markets in the absence of any trend.
It deploys the EMA 34 along with an angle threshold of 0.2 to aid spot sideways market.
The EMAPredictive2.ex4 custom indicator is a moving average that offers more price smoothing.
The 14 EMA is an exponential moving average that has its period set at 14 and reduces the lag by adding more weight to recent price.