Wednesday, May 2, 2012

The EMA 100 and Me!

According to my new strategy, I need to wait for the price to reach 5 pips below the previous candle's low before putting in a sell order (or going short).
I switched to a daily time scale on DailyFx.com and altered the EMA to a period of 100 instead of 50. It was recommended by the author of the strategy to increase the period value when increasing the time  scale. (Good thing I read all the comments following his original posting!)
One of these days I'll figure out what EMA periods I'll need for all the different time scales. That way I can avoid this waiting!!

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