Tag: EMA Forex

Forex Exponential Moving Average Scalping

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Forex Exponential Moving Average Scalping

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In Forex trading, scalping is a popular method, one which provides lots of small profits, and the best way to go about this is by using exponential moving averages. No, it’s not the only way to scalp trade in Forex, but using EMA as your top technical analysis tool definitely works quite well.

Today, we are here to discuss moving averages, specifically exponential moving averages, what they are, and how to calculate them too. As you will then find out, our mentor, Andrew, has a great 5 minute scalping strategy for Forex using these exponential moving averages.

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Moving Averages – The Basics

Before we get into the Forex exponential moving average scalping strategy which Andrew discusses in the featured video, it’s probably a good idea to know what these are. So, what is a simple moving average, what’s an exponential moving average, what do they tell us, and how are they calculated?

 

Moving Averages

So, first off, we have moving averages as a whole. Moving averages is a very popular and widely used indicator. The main point of a moving average is to filter out noise from random short term price fluctuations in order to smooth out price action.

These moving averages are most often used to determine support and resistance levels and to identify trend directions. As you will see today, they are great for Forex scalping. There are a few types of these indicators, and today we want to discuss the SMA and EMA, or simple and exponential moving averages.

Exponential Moving Average
courtesy of https://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2019/08/13/moving-average.html

Simple Moving Average

Before we get into what exponential moving averages are, you first need to know what simple moving averages are, as the latter are needed in order to calculate the former. A simple moving average is often used in Forex, and it’s calculated by adding up the closing price of an asset, in this case foreign exchange pairs, and then dividing it by the number of days added up.

Simple Moving Average
Courtesy of https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/ema

In other words, if you are working with a 20 day time frame, add up the closing price of the 20 days, then divide by 20. Simple moving averages, or SMAs are used to identify price trends and to estimate the potential for change in a trend.

 

Exponential Moving Average

The exponential moving average is also known as a WMA or weighted moving average. This is similar to the SMA, but it places much more weight on the most recent data. The EMA responds much quicker to the most recent price changes than the SMA does, an is therefore ideal for placing short term trades.

As you will see in the featured video, Andy uses 3 EMA lines in order to trade Forex via a scalping strategy. Just so you know, scalping involved placing a large number of short term trades based on recent trends and price movements, which here are figured out through the use of the exponential moving average. EMA is best to use for short term trades in this regard.

Exponential Moving Average
courtesy of https://stockcharts.com/articles/mailbag/2013/01/what-is-the-difference-between-a-simple-and-exponential-moving-average.html

Calculating an Exponential Moving Average

Before we go over the featured video, where Andrew explains his 3x EMA strategy for Forex scalping, it’s probably wise for you to learn how to calculate an exponential moving average. Remember, the first part here is to calculate the simple moving average, which we taught you how to do in the above section. After this is done, you need to calculate the multiplier for smoothing for the previous EMA.

The formula for doing this is quite simple, [2 ÷ (selected time period + 1)]. So for a 20 day chart, the formula would be [2/(20 +1)]. Lastly, the actual EMA is then calculated using the following formula, [Closing price-EMA (previous day)] x multiplier + EMA (previous day). Yeah, it’s a little complicated, but the best way to learn and master this is simply by practicing it.

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Andy’s Exponential Moving Average Scalping Strategy

Ok, so now you know the most important basics about moving averages, specifically about exponential moving averages. Now it’s time to discuss how Andrew uses these EMA lines in order to place scalping trades in Forex. We are not going to go over a step by step tutorial in detail here, because it’s honestly a bit hard to understand with words alone. Luckily, in the featured video, Andrew goes over the whole process of this 3x EMA scalping strategy, so you can see it in action right in front of your face.

Here, Andrew uses a series of 3 separate exponential moving average lines, along with a few other things, in order to place highly profitable Forex scalping trades. Sure, these might be short term trades, and only with small investments, but the point here is sheer quantity. Yes, each trade is going to provide small profits, but those add up real fast.

Here is the basic strategy or method which Andy uses in order to place Forex scalping trades using the EMA technical indicator. Keep in mind that you should watch the embedded video, as all of the following steps are explained in great detail, and you get to watch it all unfold right in front of your eyes. It’s always easier to learn this kind of thing when you can see someone else doing it.

Exponential Moving Average

  1. Place 3 exponential moving average lines (details explained in the video).
  2. Adjust the settings according to Andy’s instructions.
  3. Wait for the proper conditions, as outlined in the trading video.
  4. Wait for the first candle to touch the EMA, and count 5 candlesticks back.
  5. Exit the trade at the next support for sell and at the next resistance if you placed a buy order.

Exponential Moving Average

 

Forex Scalping with Exponential Moving Averages – Conclusion

At the end of the day, this particular 5 minute Forex scalping strategy, with the exponential moving average as its basis, is one of the best for placing short term trades. Now, if you really want to learn everything there is to know in this regard, there’s no better way to do it than by joining the Income Mentor Box Day Trading Academy.

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Best EMA Strategy For Forex Trading!

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Best EMA Strategy For Forex Trading!

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If you have not yet become a member of our Income Mentor Box Day Trading Academy, you really don’t know how much cash you are missing out on. Just to show you how valuable our educational materials are, our mentor, Andrew, has done a recent live trading session where he made nearly 2,200 Euros in profits using his awesome EMA strategy for Forex, stocks, and crypto.

 

Income Mentor Box Day Trading Academy EMA Strategy

What Is EMA & What Does It Tell You?

To be clear, EMA stands for exponential moving averages, and it is a type of moving average, a technical indicator, which places great weight on recent data points, as opposed to data points further back in history. Exponential moving averages are used to signal long term trends and price directions, so they can definitely be very useful for stock, Forex, and crypto trading, and the EMA strategy is best suited for trending markets.

 

Income Mentor Box Best EMA Strategy For Forex Trading

Now, the fact of the matter is that this best EMA strategy, which is brought to us courtesy of Andrew from the Income Mentor Box Day Trading Academy really is one of the best money making methods in day trading right now. The really cool part about using the exponential moving average strategy is that everyone can do it. It is really not that hard, it is fairly easy to learn, and as you can see from the included video, it is definitely quite profitable.

Now, we don’t want to get into explaining this EMA strategy on a step by step basis, as it would take quite a while, plus this is what the video is for. If you want to learn all about using this particular exponential moving average strategy, we definitely recommend watching the video. Yes, there are different ways to use the EMAs to your advantage, but this is hands down the best way to do it.

If you want to learn literally everything there is to know about trading strategies like this, we would definitely recommend becoming a member of our Income Mentor Box Day Trading Academy. Here you will get full and unlimited lifetime access to all course materials, which of course include using trading strategies like this. Also, do keep in mind that this EMA strategy is not only for Forex trading, but also for stock and crypto trading too, which is yet another bonus and piece of knowledge in your day trading arsenal. As you will see below, Andrew, the number one mentor, was able to make big time profits by using this exponential moving average strategy.

 

 

Income Mentor Box EMA Strategy – HUGE PROFITS IN 1 SESSION!

The fact of the matter is that Andrew from Income Mentor Box has managed to put this so called best EMA strategy to good use in order to make big profits. As you can see from the live trading session video, he was able to make well over 2,100 Euros in profits using this strategy. It is very important to note that Andrew placed and closed all of these trades live on video. It’s irrefutable proof that he did actually use this EMA strategy to trade Forex, and he did so quite successfully.

Folks, this Income Mentor Box Day Trading Academy EMA strategy managed to rake in nearly 2,200 Euros in pure profits in just a couple of hours. Talk about being impressive. The really cool part here is that you can simply copy this best EMA strategy for yourself, use it, and make healthy and consistent profits just like Andrew.

The fact that this particular exponential moving average strategy is so profitable is a really big deal, and it is just another piece of knowledge that will help you become a professional day trader. To be clear, using this EMA strategy, Andrew placed a total of 10 Forex trades, and 8 turned out to be winners, which translates to a solid 80% win rate, which is much better than most other Forex trading strategies allow for.

 

Income Mentor Box Day Trading Academy EMA Strategy

 

The Limitations Of Using Exponential Moving Averages

There is one thing that you should know about using exponential moving averages for stock, Forex, or crypto trading, a limitation so to speak. The problem here is that it is a bit unclear whether more emphasis should be put on the more distant data in the time period or the more recent data.

There is a so called recency bias present in the EMA strategy, where some traders believe that new data is best used for this strategy, whereas some will argue that placing a greater emphasis on certain dates creates a bias. If markets are efficient, then historical data may not tell us all that much about the future direction of a price. However, with that being said, as Andrew proved in his recent trading video, using his particular EMA strategy is indeed a great and profitable way to trade Forex, crypto, and stocks too.

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Don’t forget to check out our Income Mentor Box Day Trading Academy Facebook page and Instagram page. Our Instagram handle is “Andrew_Income_Mentor_Box”, and our Facebook page is “IncomeMentorBox”. This is a great way to get in touch with other members of the Income Mentor Box Day Trading Academy and to ask Andrew direct questions too.

Moreover, something else you definitely want to check out is our Income Mentor Box Telegram Signals Group for Forex. This is a signals provision service hosted by yours truly. You can join our Forex signals group on Telegram to get daily Forex signals. They are very easy to use. Simply copy and paste the signals into your trading platform of choice and watch as the winning trades roll in.

 

 

Income Mentor Box EMA Strategy – Final Thoughts

Remember folks, the EMA strategy described in the most recent Income Mentor Box trading video is one of the best out there, and as you can see, it is definitely profitable. If you want to become the best day trader you can be, we would definitely recommend joining our academy for lifetime, full, and unlimited access to all of our course materials.

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