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4H 5EMA System

  • #261
  • Oct 19, 2008 1:05am Oct 19, 2008 1:05am
Thanks for your suggestions (Sterling and Bobcat). I'll see how I go, I may look into downloading MT4 onto my mob phone. Otherwise I may just have check every 4 hrs when I get home from work.
What you do is a reflection of you....what I do is a reflection of me.
  • #262
  • Oct 19, 2008 1:17am Oct 19, 2008 1:17am
Quoting Ezzy
Thanks for your suggestions (Sterling and Bobcat). I'll see how I go, I may look into downloading MT4 onto my mob phone. Otherwise I may just have check every 4 hrs when I get home from work.
Is it possibole?
Never sell @ lower upward channel unless breacked and vise versa .
  • #263
  • Oct 19, 2008 1:47am Oct 19, 2008 1:47am
Hi Wed Wed, possible about downloading MT4 on a mob phone.....someone suggested it a couple of posts ago? About checking every 4 hrs after work....I guess that it could be done for the first 2 bars or so.

I am not too sure at this stage. But would like to give it ago as it seems such a promising system.
What you do is a reflection of you....what I do is a reflection of me.
  • #264
  • Oct 19, 2008 3:11am Oct 19, 2008 3:11am
Quoting Ezzy
Hi Wed Wed, possible about downloading MT4 on a mob phone.....someone suggested it a couple of posts ago? About checking every 4 hrs after work....I guess that it could be done for the first 2 bars or so.

I am not too sure at this stage. But would like to give it ago as it seems such a promising system.
Details are on the metaquotes.net homepage
  • #265
  • Oct 19, 2008 3:13am Oct 19, 2008 3:13am
Thanks Leis, I'll have a look at that.
What you do is a reflection of you....what I do is a reflection of me.
  • #266
  • Oct 19, 2008 7:36am Oct 19, 2008 7:36am
Your welcome Ezzy
  • #267
  • Oct 19, 2008 11:39am Oct 19, 2008 11:39am
Quoting stersuhr
Hmm, all I can think of is an EA. Maybe Ronald will make one, we will see. You know all you have to do is look at the computer and adjust the trade...it only take a few minutes at max to do that. You could also do what I do, buy a phone that has internet and download the MT4 mobile on it and trade from that. Im not sure what your work is but thats an option. You could also have a trading buddy that has the 10AM and 2PM trade adjustment times free do it for you. Just a thought.

-Sterling Suhr
maybe if there was and s&r indicator built into ea it may work
  • #268
  • Oct 19, 2008 11:41am Oct 19, 2008 11:41am
Hello,

From what the creator of this system indicated is that he takes all trades so if that is true then an ea would easily duplicate what the human trader would do as it would take every trade as well. So if the system is profitable as is by taking every trade then an ea will be profitable.

Regards,
Jeff

Quoting rbrtsha
maybe if there was and s&r indicator built into ea it may work
  • #269
  • Edited 2:23pm Oct 19, 2008 2:15pm | Edited 2:23pm
I read you guys were wanting an EA for this system. I created one but according to the rules for the system this EA doesn't seem to be profitable all the time. I think there is some more that will need to be coded for this EA to work profitably.

**Removed EA** Some serious Logic errors still existed will post V1.2 when it is completed. Should be tomorrow.
  • #270
  • Oct 19, 2008 2:58pm Oct 19, 2008 2:58pm
Quoting Ezzy
Hi Wed Wed, possible about downloading MT4 on a mob phone.....someone suggested it a couple of posts ago? About checking every 4 hrs after work....I guess that it could be done for the first 2 bars or so.

I am not too sure at this stage. But would like to give it ago as it seems such a promising system.
I have the HTC touch. It runs windows but I know it will work on a blackberry and a smart phone as well.

-Sterling
Founder of Day Trading Forex Live
  • #271
  • Edited 6:02pm Oct 19, 2008 5:23pm | Edited 6:02pm
Hi There Everyone:

I've read your thread all the way thru today...Good work...so I thought I'd Backtest the system on the GBPJPY Daily chart. Here are my backtest results from May 08 to Oct 20/08.

They didn't turn out too badly...considering one would only have to glance at the computer once a day to make adjustments and manage trades....

This method seems promising....BTW I didn't bother with the spreads or the 5 pip above/below 5 EMA....on a daily chart they are negligible....but....we'd have to define those parameters sooner or later....

Greg B

1. Enter Long @ 203.09 SL 199.80 Closed at 207.38 +429 pips
2. Enter Short @ 207.38 SL 209.38 Closed @ 207.13 +25 pips
3. Enter Long @ 207.13 SL 203.99 Closed @ 211.93 +480 pips
4. Enter Short @ 211.93 SL 213.93 Closed @ 211.80 +13 pips
5. Enter Long @ 211.80 SL 210.25 Stopped @ 210.25 -155 pips
6. Enter Short @ 210.25 SL 212.02 Closed @ 210.33 -8 pips
7. Enter Long @ 210.33 SL 208.01 Closed @ 213.54 +321 pips
8. Enter Short @ 213.54 SL 215.87 Closed @ 212.25 +129 pips
9. Enter Long @ 212.25 SL 210.54 Closed @ 211.60 -65 pips
10. Enter Short @ 211.60 SL 213.94 Closed @193.61 +1799 (Sweet!!)
11. Enter Long @ 193.61 SL 186.19 Closed @ 188.51 -510 pips
12. Enter Short @ 188.57 SL 195.67 Closed @ 188.91 -40 pips
13. Enter Long @ 188.91 SL 185.92 Closed @ 187.85 -106 pips
14. Enter Short @ 187.85 SL 193.73 Closed @ 190.03 -218 pips
15. Enter Long @ 190.03 SL 184.50 Closed @ 195.31 +528 pips
16. Enter Short @ 195.31 SL 197.44 Closed @ 188.11 +720 pips
17. Enter Long @ 188.11 SL 184.72 Stopped @ 184.72 -339 pips
18. Enter Short @ 184.72 SL 188.51 Closed @ 172.16 +1256 pips (Nice..)
19. Enter Long @ 172.16 SL 165.98 Closed @ 176.43 +427 pips
20. Enter Short @ 176.43 SL 181.40 ....still open.....

I may have made some mistakes...let me know if I have.....Cheers for now!
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_JPY Spot.png Size: 28 KB
  • #272
  • Oct 19, 2008 5:34pm Oct 19, 2008 5:34pm
Does anyone have any comments on other pairs? I'm going to start live-trading this system this week with a small money-management scheme until I'm totally compfortable with it, but, as you only have to check it every 4 hrs, I could monitor more than one pair if the pair fit. I'm thinking USD/JPY or EUR/JPY, as they would effectively counter GBP/USD. Anyone tried other pairs?

Good system so far!
  • #273
  • Oct 19, 2008 6:00pm Oct 19, 2008 6:00pm
Quoting batesmotel
Hi There Everyone:

I've read your thread all the way thru today...Good work...so I thought I'd Backtest the system on the GBPJPY Daily chart. Here are my backtest results from May 08 to Oct 20/08.

They didn't turn out too badly...considering one would only have to glance at the computer once a day to make adjustments and manage trades....

This method seems promising....

Greg B

1. Enter Long @ 203.09 SL 199.80 Closed at 207.38 +429 pips
2. Enter Short @ 207.38 SL 209.38 Closed @ 207.13 +25 pips
3. Enter Long @ 207.13 SL 203.99 Closed @ 211.93 +480 pips
4. Enter Short @ 211.93 SL 213.93 Closed @ 211.80 +13 pips
5. Enter Long @ 211.80 SL 210.25 Stopped @ 210.25 -155 pips
6. Enter Short @ 210.25 SL 212.02 Closed @ 210.33 -8 pips
7. Enter Long @ 210.33 SL 208.01 Closed @ 213.54 +321 pips
8. Enter Short @ 213.54 SL 215.87 Closed @ 212.25 +129 pips
9. Enter Long @ 212.25 SL 210.54 Closed @ 211.60 -65 pips
10. Enter Short @ 211.60 SL 213.94 Closed @193.61 +1799 (Sweet!!)
11. Enter Long @ 193.61 SL 186.19 Closed @ 188.51 -510 pips
12. Enter Short @ 188.57 SL 195.67 Closed @ 188.91 -40 pips
13. Enter Long @ 188.91 SL 185.92 Closed @ 187.85 -106 pips
14. Enter Short @ 187.85 SL 193.73 Closed @ 190.03 -218 pips
15. Enter Long @ 190.03 SL 184.50 Closed @ 195.31 +528 pips
16. Enter Short @ 195.31 SL 197.44 Closed @ 188.11 +720 pips
17. Enter Long @ 188.11 SL 184.72 Stopped @ 184.72 -339 pips
18. Enter Short @ 184.72 SL 188.51 Closed @ 172.16 +1256 pips (Nice..)
19. Enter Long @ 172.16 SL 165.98 Closed @ 176.43 +427 pips
20. Enter Short @ 176.43 SL 181.40 ....still open.....

I may have made some mistakes...let me know if I have.....Cheers for now!
I think for the most part the trades look pretty close. Ill give it a backtest tonight and post the results.

-Sterling
Founder of Day Trading Forex Live
  • #274
  • Oct 19, 2008 6:18pm Oct 19, 2008 6:18pm
Did you place the reversal trade when you get stopped out in your backtest. it looks like you did from the chart?

-Sterling
Founder of Day Trading Forex Live
  • #275
  • Oct 19, 2008 6:32pm Oct 19, 2008 6:32pm
I thought I would post the daily chart from friday and bring us current. There have been no trade after #16...we are still long from 1.7281 with are stop at 1.7150. We are only up +39 pips for the month which sucks but as ive said before this system takes 3-4 big trades a month and that is what makes it so positive. As of right now we have only gotten 1 of those so I suspect the odds of the rest coming soon are rising. Anyway here are the trades you should have in the market. As always the red candle is the setup bar and the blue is the reversal. Right now there are no setup bars so the only other order is the order to go short if we get stopped out. Remember if the candle touches both EMA's it cannot be used for a setup bar.

Trade #16 - long from 1.7281

Stop loss - 1.7150

Trade #17
Sell stop - 1.7150

Sell stops stop loss -1.7389


-Sterling
Attached Image (click to enlarge)
Click to Enlarge Name: trade #14.gif Size: 51 KB
Founder of Day Trading Forex Live
  • #276
  • Oct 19, 2008 6:37pm Oct 19, 2008 6:37pm
Quoting stersuhr
Did you place the reversal trade when you get stopped out in your backtest. it looks like you did from the chart?

-Sterling

I believe I did....
  • #277
  • Oct 19, 2008 8:33pm Oct 19, 2008 8:33pm
Quoting stersuhr
I thought I would post the daily chart from friday and bring us current. There have been no trade after #16...we are still long from 1.7281 with are stop at 1.7150. We are only up +39 pips for the month which sucks but as ive said before this system takes 3-4 big trades a month and that is what makes it so positive. As of right now we have only gotten 1 of those so I suspect the odds of the rest coming soon are rising. Anyway here are the trades you should have in the market. As always the red candle is the setup bar and the blue is the reversal. Right now there are no setup bars so the only other order is the order to go short if we get stopped out. Remember if the candle touches both EMA's it cannot be used for a setup bar.

Trade #16 - long from 1.7281

Stop loss - 1.7150

Trade #17
Sell stop - 1.7150

Sell stops stop loss -1.7389


-Sterling
Sterling,
Can a reversal bar also be the next setup bar? Like the trade 16 bar with your blue arrow? And the two bars after that one both break the upper? ema. So I'm probably wrong, but shouldn't we have moved our stop up?
  • #278
  • Oct 19, 2008 10:16pm Oct 19, 2008 10:16pm
Quoting alllivemind
Sterling,
Can a reversal bar also be the next setup bar? Like the trade 16 bar with your blue arrow? And the two bars after that one both break the upper? ema. So I'm probably wrong, but shouldn't we have moved our stop up?
Yes it can be the next setup bar. You could potential have them back to back to back. It dosent happen very often that they keep repeating but they can as many times as the market wants to. I did move my stop and put in an order to go short at 16 but then the next two reversal bars failed to make a lower low and trigger that short so you cancel the trade per the rules, and the stop goes back to the original location until you have a valid setup bar.

-Sterling
Founder of Day Trading Forex Live
  • #279
  • Oct 20, 2008 12:30am Oct 20, 2008 12:30am
Do we need to wait for the reversal bar to close before we enter a trade?
What you do is a reflection of you....what I do is a reflection of me.
  • #280
  • Oct 20, 2008 12:43am Oct 20, 2008 12:43am
Quoting Ezzy
Do we need to wait for the reversal bar to close before we enter a trade?
no, the order should be already in, and it could happen while you are away. That is why you only need check every 4 hours. Right now we are doing really well on this long...
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