Ed
Extra EMAs might help & stop losses are always good :)
but...
IMHO - this is just too simple to make money live trading - even though it can be 'optimised' on back-testing to produce a very nice (i.e. fitted) 'profit' curve...
This sample EA can only make money on clear trends & will get hammered during ranging price action :(
You need to add in:
1) Something to check for volatility - to give follow through once you have direction - ATR or perhaps better, StDev
2) Something to check for <is it ranging or trending> - ADX or.... am open to suggestions on something better here :)
My 2c worth
BB

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I think this EA can be profitable if adjusted.
Thanks