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4H 5EMA System

  • #461
  • Oct 23, 2008 5:09pm Oct 23, 2008 5:09pm
Quoting stersuhr
HAHA yeah that rule sometimes bites you in the ass but it saves you more often. This current bar carries a lot of momentum and there is plunty of upside room for the G/U, I think trade #20 is looking very good. Alllivemind I would like to thank you for your effort in this forum, and I really feel like you get the system to. Im sure you can testify to all the newbies that once you understand it the setup just pop out at you. I cant be here all day like I will be able to in a month or so, and people like you and Howard who help people out really take a load off me. Im sure other people understand it as well as you two do and I would like to thank them in advance for answering questions.

Pleace anyone who is going live with this, do not trade this system if you cant spend 5 minutes every 4 hours on the computer. You will without fail catch all the loosers and miss all the winners. Also do not trade more than 1 mini per $2000 in the account!!!! VERY IMPORTANT!!!!

-Sterling
You are welcome! It's the least I can do for someone who has taught me this awesome system for FREE!
Since the previous bar has touched both emas and so must be ignored, then this next bar could be a setup bar if it penetrates the upper band by 5 pips, even if it does NOT break the previous high. Right?
I actually have a very small trade on the E/J with this system, and it is a perfect example of what I'm asking. It penetrated the 5 ema on the current bar, but did not break the previous high, and the previous bar touches both emas.
And yes, I will testify:
Once you "get" this system, it's easy to see the trades and stop movements at a glance. If you read all my posts since day 1, you can tell I was very confused at first, lol.
Michael
  • #462
  • Oct 23, 2008 5:11pm Oct 23, 2008 5:11pm
sterling, it takes great minds to share both your time and resources, and thats what you have been doing since, big thanks to you.

are there any ways or should I say rules one can filter out loosers?

I took time to separate the loosers and the winners in september trades and I discovered that most of the trades that the 1st reversal candle did not make it as to trigger the buy/sell stops ended up as loosers.

another example happened today to if you look carefully.

therefore if from your experience there is any way to filter out or recognise those that are likely to end up in minus.

This would save us some pains, and for those of us newbies it would help protect our account, cos me personerlly I dont think my account can withstand three loosers at a stretch

Pls STERLING look at this direction, that is the only concern I have for now

thanks a lot
John 3:16 - From THIS love no power on earth can me sever.
  • #463
  • Oct 23, 2008 5:20pm Oct 23, 2008 5:20pm
Quoting fx-char
well Emperor...I'm not emotional, but my haven't helped, that short just got stopped out...i think we are experiencing a sideways market.
Yea Sideways market, where did that spike come from? wonder what sterling has to say about trading in this conditions
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #464
  • Oct 23, 2008 5:36pm Oct 23, 2008 5:36pm
Sorry guys I have to run now ill answer all the questions when I get back around 9PM EST.

-Sterling
Founder of Day Trading Forex Live
  • #465
  • Oct 23, 2008 5:44pm Oct 23, 2008 5:44pm
Quoting stersuhr
Yep long stopped out for -132 pips and we are currently short from 1.6185. Trade #17 was stopped out for +1,047 pips. The running total for the month is +1,038 pips!

We will have to see where price goes but when this bar closes at 10AM EST we can put are long order in because price broke the lower EMA and is the current setup bar.

-Sterling
Hi Sterling

What is the stop-loss for this short (at 1.6185), of previous bar's high + 5 pips = 1.6351 ?

If this short reverse bar is also a setup bar for short, will you also set a sell order plus this reverse trade (1.6185)?

Thanks,
Simon
  • #466
  • Oct 23, 2008 5:48pm Oct 23, 2008 5:48pm
hello Sterling!
i really really like this thread and i have been watching it from the very beginning. i started backtesting for 2007 a little, unfortunately dont have as much free time as i would like to-working and studying full time . i am just a little concerned how your system is going to perform in the future... how many years have you backtested? it is not like i am being lazy to do my own research, but really dont have enough time. would appreciate if you could share with us the average pip count per month in past years.

thank you so much for sharing your system
  • #467
  • Oct 23, 2008 8:23pm Oct 23, 2008 8:23pm
Quoting suwuming
Hi Sterling

What is the stop-loss for this short (at 1.6185), of previous bar's high + 5 pips = 1.6351 ?

If this short reverse bar is also a setup bar for short, will you also set a sell order plus this reverse trade (1.6185)?

Thanks,
Simon
Look at post #456 trade #20. The stop is 5 pips below the setup bar which is 1.6037

-Sterling
Founder of Day Trading Forex Live
  • #468
  • Oct 23, 2008 8:25pm Oct 23, 2008 8:25pm
Quoting tonny47
hello Sterling!
i really really like this thread and i have been watching it from the very beginning. i started backtesting for 2007 a little, unfortunately dont have as much free time as i would like to-working and studying full time . i am just a little concerned how your system is going to perform in the future... how many years have you backtested? it is not like i am being lazy to do my own research, but really dont have enough time. would appreciate if you could share with us the average pip count per month in past years.

thank you so much for sharing your system
In the last year it averaged around +600 pips or more. This system works better with larger moves, in big ranges, and in trending markets. Very tight ranges is where this system will be break even at best. But the good thing is how often does the G/U stay in a 100 pip range...the answer is rarely.

-Sterling
Founder of Day Trading Forex Live
  • #469
  • Oct 23, 2008 8:40pm Oct 23, 2008 8:40pm
@Tonny47

As for what the future will bring that is a guessing game.. Just like any other system you can back test it for six years if you have the time. It all comes down to you knowing the system, what type of market it works best in, and if you run into a spell where the market is not what the system is made for you make small ajustments untill it works good again.
  • #470
  • Oct 23, 2008 8:46pm Oct 23, 2008 8:46pm
I have "tried" to word the rules a little better. For the most part I found when I wrote them they were a little repetative so I took a few things out that were already said. They still remain the same, the system has not changed. If there are any suggestions as to wording or anything else let me know and I will change it, otherwise they stand as they are.

-Sterling
Founder of Day Trading Forex Live
  • #471
  • Oct 23, 2008 8:51pm Oct 23, 2008 8:51pm
Quoting alllivemind
You are welcome! It's the least I can do for someone who has taught me this awesome system for FREE!
Since the previous bar has touched both emas and so must be ignored, then this next bar could be a setup bar if it penetrates the upper band by 5 pips, even if it does NOT break the previous high. Right?
I actually have a very small trade on the E/J with this system, and it is a perfect example of what I'm asking. It penetrated the 5 ema on the current bar, but did not break the previous high, and the previous bar touches both emas.
And yes, I will testify:
Once you \\\"get\\\" this system, it's easy to see the trades and stop movements at a glance. If you read all my posts since day 1, you can tell I was very confused at first, lol.
Michael
Hi, new to the thread and the forum. i have reading all your posts and seems very profitable system for long term.
Allivemind; I have open that position too, in E/Y but testing in 1H frame, because i failed the 2 recents in G/U 4H long entry wiht the setup and reversal bars and i give it up with that pair today.
Until now the E/Y its going very good, waht a shame didnt open in my real
I like this sytem and i am checking if i can learn it totally before to apply to my real account.
Thanks for sharing. Itīs great system
  • #472
  • Oct 23, 2008 8:56pm Oct 23, 2008 8:56pm
Please read the last half of post #460. If I can tell you anything that will save you money and pain it is those two things. This system does make a lot of pips, it does and it is. Having said that, not following those two things in that post, you WILL lose money with this system. "Giving up on a pair for the day" is not an option with this system. That being said if you follow those two rules and the system rules you will make money with this system

-Sterling
Founder of Day Trading Forex Live
  • #473
  • Oct 23, 2008 9:11pm Oct 23, 2008 9:11pm
Quoting stersuhr
Please read the last half of post #460. If I can tell you anything that will save you money and pain it is those two things. This system does make a lot of pips, it does and it is. Having said that, not following those two things in that post, you WILL lose money with this system. \\\"Giving up on a pair for the day\\\" is not an option with this system.

-Sterling

Yes, i read it all Sterling but i am going out late today and i cant check the Meta until tomorrow night, and will be friday and in your rules you say we must close positions that day. Thatīs other reason i didnt go more for G/U today.
Beside i was testing and the pair E/Y goes blinking a proper setup and reversal bars to entry short. I put it in 1H timeframe because i almost go out to street and i can check it 2 hours more before to close all my things.. until tomorrow.
I will try to entry on pair G/U 4H the Sunday to follow all of you in the thread and the instructions.
Thanks for all your good explanation. I love your system

Sorry about my english, is not my mother language.
  • #474
  • Oct 23, 2008 9:13pm Oct 23, 2008 9:13pm
Quoting zapmx
Yes, i read it all Sterling but i am going out late today and i cant check the Meta until tomorrow night, and will be friday and in your rules you say we must close positions that day. Thatīs other reason i didnt go more for G/U today.
Beside i was testing and the pair E/Y goes blinking a proper setup and reversal bars to entry short. I put it in 1H timeframe because i almost go out to street and i can check it 2 hours more before to close all my things.. until tomorrow.
I will try to entry on pair G/U 4H the Sunday to follow all of you in the thread and the instructions.
Thanks for all your good explanation. I love your system

Sorry about my english, is not my mother language.
Sounds good glad to have you here zapmx!

-Sterling
Founder of Day Trading Forex Live
  • #475
  • Oct 23, 2008 9:19pm Oct 23, 2008 9:19pm
Great thread. I have followed it from the begining. luv the simplicity of the system. I have set it up on both EUR & GBP to see how close the signals coincide. so far so good. Has anybody been traiding theEUR/USD?
  • #476
  • Oct 23, 2008 9:37pm Oct 23, 2008 9:37pm
Quoting vsilver
Great thread. I have followed it from the begining. luv the simplicity of the system. I have set it up on both EUR & GBP to see how close the signals coincide. so far so good. Has anybody been traiding theEUR/USD?
Im sure it will work on the E/U it just dosent average +700 pips a month.
  • #477
  • Oct 23, 2008 10:06pm Oct 23, 2008 10:06pm
I'm looking at an 8 hr chart from GFT Forex Dealbook Platform. If we used that on this last move we would have shorted at 1.7098 and still be in the same trade. It's only one trade, but it may be worth looking into. That platform does not take an EA.
M
  • #478
  • Oct 23, 2008 10:24pm Oct 23, 2008 10:24pm
If the #20 is stopped out, do we have a reverse trade at 1.6037? is this a market order or a sell-limit order placed at 0:00? (Alpari UK)? what is the stoploss?

Cheers,
Simon
Attached Image (click to enlarge)
Click to Enlarge Name: reverse2.gif Size: 29 KB
  • #479
  • Oct 23, 2008 10:42pm Oct 23, 2008 10:42pm
Quoting suwuming
If the #20 is stopped out, do we have a reverse trade at 1.6037? is this a market order or a sell-limit order placed at 0:00? (Alpari UK)? what is the stoploss?

Cheers,
Simon
Yes you would have had your sell stop in at the stop loss of Trade #20. Your stop goes 5 pips above the highest high, from after the previous buy order. 1.6334 is the current stop on this sell order. There is a rule for placement of your stop on reversal trades located on the first page.
  • #480
  • Oct 23, 2008 11:12pm Oct 23, 2008 11:12pm
Quoting Hiranya
Yes you would have had your sell stop in at the stop loss of Trade #20. Your stop goes 5 pips above the highest high, from after the previous buy order. 1.6334 is the current stop on this sell order. There is a rule for placement of your stop on reversal trades located on the first page.
...and the current bar is a setup bar, so when it closes in less than 2 hrs the stop will go 5 pips plus spread above it's high.
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