My Forex Box Trades

Hi

I used to trade S&P 500 with very good returns till last Oct when the market went crazy check my old thread:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=130414

Since then I was watching the Forex market and I've been trading it with a very simple approach and I've been making even more money than I used to make in the S&P 500

I started posting my forex trades on my blog if you don't know it just Google
"Becky Biggs Trades"

I will also post some screenshots
here of my trades every weekend

I am also offering my trading method for free PM me if you are interested.

Becky

Here is my approach:

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Setup:

(1hr chart)

EMA pairs of 5 and 2 (5 in red color - 2 in black color)
EMA 50
stochastics at standard settings 8,3,3 (mainly for divergence)

That's all

I go short when price is below EMA 50 and when the red ema goes below
the black ema

I also go short only when there is a pullback to the ema 50, so if the price is moving down then it retrace up to touch the ema 50 line then goes back down with ema 2 below ema 5 then I go short

For long just the opposite, price must be above ema 50.. price is movin up then it retrace a bit to touch the ema 50 and then goes back up with ema 2 crossing above ema 5 then I go long...

I don't risk more than 75 pips first target is 100 pips

if the market is moving sideways all EMA will be moving so close to each other I don't trade at that time I always wait to see a smooth movement
ABC kinda a thing to trade...

I average about 200 pips a week.
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any relation to Barton?

 

nope, is that a similar approach?

 

surely you jest:

http://en.wikipedia.org/wiki/Barton_Biggs

 

wow I hope we were related then

 

Sounds just like this guy's setup only without the Andrew's Pitchfork.

50 EMA, Stoch 8,3,3

He uses the pitchfork to determine trend direction, only taking trades that way.

 

What time frame are you trading on?

 

I am trading the 1hr chart.

I use stochastics only to spot divergence so for example if I am going long and there is a bearish divergence developing I pass the trade that's pretty much it

 

Your first post was a little ambiguous. Do you *only* take the trades where price has retraced to the 50 EMA?

The first statement implies you take all short red/black crosses when price is below the 50 EMA. The second says you wait for the retracement.

 

I wait for the retracement every time