Hello All,
I have seen quite a few posts here regarding EMA crossovers, in particular by Pride who has been kind enough to show us his trading methodologies.
This is my first post and I hope to have some wonderful feedbacks.
I have been using few stuff on my own, although I am pretty new to trading and I do expect to leanr a lot here from you all.
Heres what I do:
EMA setting: 10, 20, and 50
Slow Stoch: 7,10
RSI, 7
Time-frame: 1-3 mins
1st Entry: Prices crossing 20 EMA from below, stochs & RSI at oversold levels. Timeframe is 1 min to 3 min on charts. Stop-loss can be at the previous pivot support. A long can be initiated here. I usually ride this wave for about 15-20 points on the up hence my exit is usually 12-20 points and one can get usually 2-3 signals as such in any given day.
2nd Entry: 10 EMA crosses the 50 EMA on either side. Again, I go long or short, ride the prices for a minimum of 6 points (my brokerage is by Ventura and hence is dirt cheap). SL is always the pivot support however one can have own set of preferences for this or have a risk-reward ratio.
For the 2nd entry, if one wants to ride the prices for a good 30+ points then cross check EMA 30 and 200. If the 10 crosses the 50 on the upisde and the same is supported by 30 and 200 ema also, then its a confirmed signal for a good price ride.
Stochs & RSi is usually used just for timing a good entry price (and not a perfect entry price).
I only trade on an intra-day basis and have never ever carried over my position to the next day. And I always use a 1 & 3 min chart.
I dont have any charting software and rely on yahoo Finance and Investbulls for charting. Success of trading depends on charts and not the price of it
I dont play for huge movements, just about 10 points and I have close 6-7 trades a day. Its tedious but risk element is bare minimum. Yes, I do make my broker rich, but thats fine till the time I am generating constant money on a day-today basis.
So, this has been my rule so far......i will appreciate senior/expereinced traders to post their suggestion and feedback on this.
PS: Sorry i dont have screenshots this time but will post few next time.
I have seen quite a few posts here regarding EMA crossovers, in particular by Pride who has been kind enough to show us his trading methodologies.
This is my first post and I hope to have some wonderful feedbacks.
I have been using few stuff on my own, although I am pretty new to trading and I do expect to leanr a lot here from you all.
Heres what I do:
EMA setting: 10, 20, and 50
Slow Stoch: 7,10
RSI, 7
Time-frame: 1-3 mins
1st Entry: Prices crossing 20 EMA from below, stochs & RSI at oversold levels. Timeframe is 1 min to 3 min on charts. Stop-loss can be at the previous pivot support. A long can be initiated here. I usually ride this wave for about 15-20 points on the up hence my exit is usually 12-20 points and one can get usually 2-3 signals as such in any given day.
2nd Entry: 10 EMA crosses the 50 EMA on either side. Again, I go long or short, ride the prices for a minimum of 6 points (my brokerage is by Ventura and hence is dirt cheap). SL is always the pivot support however one can have own set of preferences for this or have a risk-reward ratio.
For the 2nd entry, if one wants to ride the prices for a good 30+ points then cross check EMA 30 and 200. If the 10 crosses the 50 on the upisde and the same is supported by 30 and 200 ema also, then its a confirmed signal for a good price ride.
Stochs & RSi is usually used just for timing a good entry price (and not a perfect entry price).
I only trade on an intra-day basis and have never ever carried over my position to the next day. And I always use a 1 & 3 min chart.
I dont have any charting software and rely on yahoo Finance and Investbulls for charting. Success of trading depends on charts and not the price of it
I dont play for huge movements, just about 10 points and I have close 6-7 trades a day. Its tedious but risk element is bare minimum. Yes, I do make my broker rich, but thats fine till the time I am generating constant money on a day-today basis.
So, this has been my rule so far......i will appreciate senior/expereinced traders to post their suggestion and feedback on this.
PS: Sorry i dont have screenshots this time but will post few next time.