Yup, first offical trade in the rrom got stopped out for -105pips. Actually vitabeer if I get another signal to go long I will take it. I dont only look for sells if I get stopped on a buy. I take every signal, thats what my results for last month and before that are based on. This bar is are new setup bar and we will have to wait until 2 to place a trade. Stick with it, you seem to have the system down, you will make good money if you take every signal.
Sterling tell me if I am picking the right candles here. The first green arrow is the setup candle now the red arrow candle I consider your reversal candle, that would trigger the short as it has a lower low and a lower high. Now am I going over your rules correctly? Now the second to the last candle in the chart looks like another setup candle but the following candle would keep me in the short correct
Here is a chart illustrating the reason that it is almost impossible to look at historical charts and measure this system's performance.
It appears, from looking at this chart, that we are in profit, since last night's open.
We are really in a loss. The bar with the large arrow over it, triggered a long which got stopped out. The bar opened, triggered the long then fell back down and hit the SL.
This is not to say that this system won't make money. I suspect it will. It will have to be tested in real time, to know.
Sterling tell me if I am picking the right candles here. The first green arrow is the setup candle now the red arrow candle I consider your reversal candle, that would trigger the short as it has a lower low and a lower high. Now am I going over your rules correctly? Now the second to the last candle in the chart looks like another setup candle but the following candle would keep me in the short correct
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Kod,
If a candle breaks the lower EMA your looking for the next candle to break the high for a buy...you have it reversed. And likewise if a candle breaks the high you look for the next candle to break the low of the setup bar by 5 pips to be a short.
Here is a chart illustrating the reason that it is almost impossible to look at historical charts and measure this system's performance.
It appears, from looking at this chart, that we are in profit, since last night's open.
We are really in a loss. The bar with the large arrow over it, triggered a long which got stopped out. The bar opened, triggered the long then fell back down and hit the SL.
This is not to say that this system won't make money. I suspect it will. It will have to be tested in real time, to know.
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Bill I think you have it a little off. We are not in profit...it triggered are long and then stopped us out pretty much right away. It is very easy to backtest this system. Even if its not my trade count for last month is live. I opened a demo for this account only so I dont have to show my live account. Ill post this at the end of every month or whenever someone wants to see it.
The first long stopped out, the 2nd long not triggered yet
Buy stop at 1.7535 with stop loss at 1.7332, this one has a very big stop loss.
I appreciate if the author would continue to post his live trades as they happen until we learn the method properly and test it in realtime
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Howard you got it right! Just make sure your candles start every 2, 6, 10 AM and PM to have the same trades as me. I will continue to post trades. The only trade that has been triggered as of yet is the one that got stopped out this morning.
Aelimian you got it half right on this one. If you go back to the rules they state that you only put the trade to go the other way in the market AFTER the reversal bar closes. We got triggered into the trade this morning and stopped out all in the reversal bar, therefore we did not have a sell stop in the market to go short. right now we have a proper setup bar and are looking for a reversal bar. Someone already posted the current buy stop and stop loss triggers. Thank you to that person!!!!
Bill I think you have it a little off. We are not in profit...it triggered are long and then stopped us out pretty much right away. It is very easy to backtest this system. Even if its not my trade count for last month is live. I opened a demo for this account only so I dont have to show my live account. Ill post this at the end of every month or whenever someone wants to see it.
-Sterling
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Since we both said that we are not in profit and that the long trade was immediately stopped out, I don't see how I've got it wrong.
I said the same thing you just said.
The point I was making is that you cannot be sure that the losing long trade occurred, by looking at the 4H chart. You can't tell for sure when the low of the reversal bar occurred. If it had gone below the set-up bar before breaking the high of the setup bar, the trade would not have been taken.
Since we both said that we are not in profit and that the long trade was immediately stopped out, I don't see how I've got it wrong.
I said the same thing you just said.
The point I was making is that you cannot be sure that the losing long trade occurred, by looking at the 4H chart. You can't tell for sure when the low of the reversal bar occurred. If it had gone below the set-up bar before breaking the high of the setup bar, the trade would not have been taken.
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I see your point...in those cases which i might add are rare, I go to the 15 min chart to see what happened. And you are totally right if it had gone below that line you would have now considered it the new setup bar and the trade would not have been taken.
I will not jump this thread nor discuss how i trade this, Sorry[/quote]
If your worried about "jumping" this thread you have my permission, as creator of the thread to state how you trade it if you like. If thats the reason you dont want to say it atleast...
I just found this tread and i do not understand it.. . so i trade long if it breaks the lower 5ema and short if it breaks the upper ema. Is there any trades tonight? There was some bars that broke the lower ema so is that a long trade? If you could help me on this one please do because i would love to make BIG PIPS.
I just found this tread and i do not understand it.. . so i trade long if it breaks the lower 5ema and short if it breaks the upper ema. Is there any trades tonight? There was some bars that broke the lower ema so is that a long trade? If you could help me on this one please do because i would love to make BIG PIPS.
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Read the rules on a the reversal bars and ask if you still dont understand.
So if i am long and it broke the upper ema with a new high that would be a revsal set up bar and the next bar would have to be lower then the set up bar for a sell right???
So if i am long and it broke the upper ema with a new high that would be a revsal set up bar and the next bar would have to be lower then the set up bar for a sell right???
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Thats it exactly...once the reversal bar that breaks the higher EMA by 5 pips closes, you put a sell stop order in the market for 5 pips below the setup bars low and a stop loss 5 pips above the high of the setup bars high.
sweet so this is a no brainer system... So how can you put your emotions behind you.that is a big problem for me i hate to see my money go down and if it starts to i freak. I do realy like this system and i will be on it all the time and i hope that shortly i will be able to put some good input on this tread.. So stersuhr where do you live?? I am from michigan
sweet so this is a no brainer system... So how can you put your emotions behind you.that is a big problem for me i hate to see my money go down and if it starts to i freak. I do realy like this system and i will be on it all the time and i hope that shortly i will be able to put some good input on this tread.. So stersuhr where do you live?? I am from michigan
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You just have to use good money managment and have enough to deal with a drawdown. Every system has them. On this the worst ive had is 600 or so pips, but that was a fluke. Michigan! I live in MI too.
