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My enter today (Monday) was aggressive after opening. Everything needed is described on the picture.

beznzvuzs.jpg

 

I can't seem to be able to zoom on the picture to read comments. Glad your starting up the discussion again. How long have you been trading the 21 ema?

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I can't seem to be able to zoom on the picture to read comments. Glad your starting up the discussion again. How long have you been trading the 21 ema?

 

Yes, sorry, did not realize that is so small, I have reposted it :). I have been trading with EMA like 5 months now and I like it, but EMA is only supporting asspect.

 

I think what market is doing is way more important (uptrend,chop,downtrend,breakout etc) and EMA serves as place where to find entry points, but only if market is in good conditions for using EMA.

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Yes, sorry, did not realize that is so small, I have reposted it :). I have been trading with EMA like 5 months now and I like it, but EMA is only supporting asspect.

 

I think what market is doing is way more important (uptrend,chop,downtrend,breakout etc) and EMA serves as place where to find entry points, but only if market is in good conditions for using EMA.

 

Having you been trading live or sim?

 

Your completely right, so far the two examples you've shown the market has been trending (best conditions for trading the ema). How do you stay out of the chop? What criteria do you set yourself? Because this is where trading the ema can lead to significant loses.

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Having you been trading live or sim?

 

Your completely right, so far the two examples you've shown the market has been trending (best conditions for trading the ema). How do you stay out of the chop? What criteria do you set yourself? Because this is where trading the ema can lead to significant loses.

 

I have been tradind with EMA on sim till now. Now I am starting this live. About my criteria. I Usually watch higher TF and if there is an obvious trend I can trade. If market cant break support or resistance and is not rejected immediately, its first sign of chop for me and I wait. I wait for price to break up or down and then ussaly new trend starts. If I am on a trade and chop comes arround, I exit my trade with a small loss rather than wait, because I can enter after the chop, dont have to be in every move:)

 

And what about you? How do you trade?

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In a fast trending market trailing the prior bar works well for an exit strategy. Al Brooks uses a similar method. I really like a break of the high of low bar in an uptrend and low of high bar in a downtrend, I use it a lot on the daily charts for individual stocks, then I just trail my stop below or above the prior day's bar.

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I have been tradind with EMA on sim till now. Now I am starting this live. About my criteria. I Usually watch higher TF and if there is an obvious trend I can trade. If market cant break support or resistance and is not rejected immediately, its first sign of chop for me and I wait. I wait for price to break up or down and then ussaly new trend starts. If I am on a trade and chop comes arround, I exit my trade with a small loss rather than wait, because I can enter after the chop, dont have to be in every move:)

 

And what about you? How do you trade?

 

Yeah my methodology is quiet similar. I've found no other way other than wait for the market to breakout and clearly show its trending. I think its the only way, most people don't have the patience to wait. If i get 2 false breakouts of a range iam not touching the trigger till the market have has clearly broken out. Then wait for a pullback to the EMA or another level and enter.

 

You seem to be trading different timeframes, what are you main ones and do you not find it difficult watching too many?

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The main timefrimes for me are 2 and 5 minutes charts and little behind them is 15 minutes chart.

 

I watch 2 minutes chart first and looking for entry there, but if market makes big move without a correction I rather switch to 5 minutes chart and look for entry there, because market tends to do bigger correction and is possible that after big move, it goes through 2 minutes EMA like a butter.

 

If it fails on 5 minutes chart too, I look for entry on 15 minutes chart, but only if market does not make regular swings in his way back to EMA. If it does swings (on lower TF), it indicates me that the trend has possibly changed.

 

But if I apply this right, 2 minutes and 5 minutes chart are the best ones for me. I watch higher timeframes (30,60,daily) only for important S/R levels usually before opening.

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I did not trade on wednesday and thursday, but on friday I made one trade. On the chart, there is my thought process and entry point.

 

if you make the volume pane bigger, much bigger,

maybe you can see the correlation between volume and the pattern you are using.

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I made volume pan bigger and the thing I see (place where I entered) is that the volume on a bar, which is touching EMA is much bigger. Dont know if this is what you meant though.

 

I also looked a couple days back and saw that it occurs quite often, but it also occurs when the price doesnt bounce from EMA and continues right through it.

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What should we be looking for on the volume pane?

 

you should be looking for correlations between the volume behavior and whatever patterns you are testing.

 

what patterns are you testing?

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you should be looking for correlations between the volume behavior and whatever patterns you are testing.

 

what patterns are you testing?

 

I am testing bouncing from EMA in a trend. Correlations what I see there is an increase of a volume on a bar, which is touching EMA.

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Thanks ake and JMC for the charts and examples of CL trades. I currently looking at TF and use .9 fixed stop. I try to be very careful on Tf but JMC your setup has merits and I will continue to trade the 100ema. So far limited success as someone pointed out the virtue of patience in setups.

 

Regards

 

 

pat

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