I was thinking that a few of us should get together and buy this 5ema system and check it out.. What do you all think???
The 5EMA system presented is basicly the AIME system taught at Aimefx.com It's a shame to see someone ripping off a system that has been on the market for a few years already.
Clay Marafiote has done a great job of educating people in forex basics and I know many people who have taken his classes and profited by them.
Check out the OpenFX group on Yahoo for more info.
Well, I am happy to know about that and if you are telling the truth, then its a real shame indeed. How come you are saying this? Did you buy the book or something? If that was the case, and the guy is a real crap, then post the book here and we may profit from it.
Actually, I don't think it's AIME. I know AIME very well and they don't use the William's % indicator which 5EMAs clearly does so they probably aren't the same although quite likely related.
Where can I get the AIME rules and setup can someone help?
Aime isn't a simple system. It's a complex blend of many indicators and chart/candlestick patterns and using one's discretion. They use pivot points (Monthly, weekly, daily and m levels), MACD (cross, zeroline), candle stick adn chart patterns along with s/r adn trenlines. They use MA cross including seperation to indicate momentum of move and they use fib. retracements. Sometimes they use Stochs, TD Trendline Breaks, COT Data and that's about all I can tell you.
It's a lot of stuff. I have the course on DVD and such. It's long but really good. Very basic stuff blended into a solid discretionary system. I believe they have a yahoo group called openfx or openfxgroup. Join up and they even some good MT4 indicators. They are an off shoot from forex mentor by Peter Bain (which I also have) but I enjoy their blend on discretionary trading much more.
As for 5 Emas, i just got it and it is also a very discretionary system. Much like AIME in a sense but they use different indicators and use they differently too. Similar to some degree but not enough to indicate they copoed anything from AIME at all.
I'll see if I can post the rules of 5 Emas to some degree but be assured that a lot will be missing. It won't compare to the actual course at all because it will lack detaled instruction and pictures.
Thanks for all these info. I will wait for more info on the 5ema system.All the best
I dont why, but google is saying that the 5emas site is dangerous and contain badware. Check it here.
So all those who wanna make a purchase there, better think twice.
I bought the 5EMA system quite a while back and I don't recommend it. It hasn't worked for me.
In fairness, I will say it isn't the absolute trash that most commercial systems are.
If a person wanted to spend time with it, they might be able to use the basic premise to devise a system that works.
How much you want for the 5ema system.