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4H 5EMA System

  • #641
  • Oct 29, 2008 3:50am Oct 29, 2008 3:50am
the red arrow on the chart is the set up bar, and the blue arrow is the reversal bar.

the red horizontal line is the SL for the sell stop and
the blue horizontaal line is the entry point for the sell stop

price went up and stop me out at the red line

the question now sir is that, should I just make the red line point which is the SL my new buy stop entry point for the reversal trade and the blue line now my new SL

ps the chart may not be an ideal one is just to convey my question

thanks sterling for the pains
Attached Image
John 3:16 - From THIS love no power on earth can me sever.
  • #642
  • Oct 29, 2008 7:19am Oct 29, 2008 7:19am
No overall tally stersuhr?
  • #643
  • Oct 29, 2008 7:31am Oct 29, 2008 7:31am
If anybody is following the 8hr time frame the system is still long from 1.5668 with stop and reverse at 1.5935
Attached Image
Regards
  • #644
  • Oct 29, 2008 7:41am Oct 29, 2008 7:41am
Hi Howard,

have you back tested the 8hrs does it seem more profitable? i find it hard to wake up in the middle of the night heheh. thanks
  • #645
  • Oct 29, 2008 7:51am Oct 29, 2008 7:51am
Quoting kien27
Hi Howard,

have you back tested the 8hrs does it seem more profitable? i find it hard to wake up in the middle of the night heheh. thanks
I have started forward testing it
Regards
  • #646
  • Oct 29, 2008 7:52am Oct 29, 2008 7:52am
cool post the results soon hey.
  • #647
  • Oct 29, 2008 8:54am Oct 29, 2008 8:54am
Howard,even in 4HR chart G/U it is still long now, cos if you look at it very well, no bar has been able to triger any sell stop that we have been setting since. i.e. there has not been a lower low bar to start our sell stop.

pls I just want to know I have not miss out on anything. If I am wrong point it out to me sir.
John 3:16 - From THIS love no power on earth can me sever.
  • #648
  • Oct 29, 2008 9:17am Oct 29, 2008 9:17am
Quoting Kosomolate
Howard,even in 4HR chart G/U it is still long now, cos if you look at it very well, no bar has been able to triger any sell stop that we have been setting since. i.e. there has not been a lower low bar to start our sell stop.

pls I just want to know I have not miss out on anything. If I am wrong point it out to me sir.
Trade number 25 was short from 1.6007 which stopped out, have a look at the last chart posted by Sterling 2 pages back
Regards
  • #649
  • Oct 29, 2008 9:35am Oct 29, 2008 9:35am
but after trade #25 got stopped out, up till this minute the trend remains long. that means any one who placed a reversal trade then would still be riding that long position till now.

or dont you think so, or do you think any other thing could have happened?

that is by the way, what do you think we should be doing now or when the current bar closes

thanks a great deal
John 3:16 - From THIS love no power on earth can me sever.
  • #650
  • Oct 29, 2008 9:52am Oct 29, 2008 9:52am
Quoting Kosomolate
but after trade #25 got stopped out, up till this minute the trend remains long. that means any one who placed a reversal trade then would still be riding that long position till now.

or dont you think so, or do you think any other thing could have happened?

that is by the way, what do you think we should be doing now or when the current bar closes

thanks a great deal
To be honest I do not know how you entered a long I do not see any setup for going long.

The reversal bar which stopped the short turned to a setup bar for going short which as yet has not been triggered and will be invalid in about 10 minutes time when the current 4hr closes and we should look for a new setup bar

This seems like one of the grey areas for me, if anyone has other views please explain
Regards
  • #651
  • Oct 29, 2008 10:05am Oct 29, 2008 10:05am
Quoting howard
If anybody is following the 8hr time frame the system is still long from 1.5668 with stop and reverse at 1.5935
Stop moved to 1.5963, a small improvement.
Next check will be in 8 hours at 11:00 GMT
Regards
  • #652
  • Oct 29, 2008 11:04am Oct 29, 2008 11:04am
Hi.
Me again.
Currently i'm still long from yesterday (30 hours ago) and got +690 running profit. In worst case. i will close position with about 400 profit.
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  • #653
  • Oct 29, 2008 11:37am Oct 29, 2008 11:37am
Quoting howard
To be honest I do not know how you entered a long I do not see any setup for going long.

The reversal bar which stopped the short turned to a setup bar for going short which as yet has not been triggered and will be invalid in about 10 minutes time when the current 4hr closes and we should look for a new setup bar

This seems like one of the grey areas for me, if anyone has other views please explain
No your right howard. If your using the alpari close time there has been no location to go long. We had a short trade triggered last night that stopped us out in the same bar. The rules state you dont put a reversal trade in until the reversal bar closes, so your right Howard we are flat right now.

-Sterling
Founder of Day Trading Forex Live
  • #654
  • Oct 29, 2008 11:39am Oct 29, 2008 11:39am
Quoting Kosomolate
the red arrow on the chart is the set up bar, and the blue arrow is the reversal bar.

the red horizontal line is the SL for the sell stop and
the blue horizontaal line is the entry point for the sell stop

price went up and stop me out at the red line

the question now sir is that, should I just make the red line point which is the SL my new buy stop entry point for the reversal trade and the blue line now my new SL

ps the chart may not be an ideal one is just to convey my question

thanks sterling for the pains
Your using the same close time as me and that sell stop should never have been triggered. The reversal bar never broke the setup bars low by 5 pips, it had the same low but never lower.

-Sterling
Founder of Day Trading Forex Live
  • #655
  • Oct 29, 2008 11:42am Oct 29, 2008 11:42am
Quoting VitaminBeer
No overall tally stersuhr?
Ok not to be rude but seriously its on the last page dude. Im happy to answer all questions but when you cant even scroll back a page.... The count is +750 for the month. We had one losing trade last night so that will probably bring us to +650 for the month.

-Sterling
Founder of Day Trading Forex Live
  • #656
  • Oct 29, 2008 11:44am Oct 29, 2008 11:44am
Quoting AlexL
Hi.
Me again.
Currently i'm still long from yesterday (30 hours ago) and got +690 running profit. In worst case. i will close position with about 400 profit.
Way to go man thats awesome. Glad to see someone is making pips!!! Once we get an EA I think it would be good to run it on 2 4H bar close times. As you can see when one is negative one can be crazy positive.

-Sterling
Founder of Day Trading Forex Live
  • #657
  • Oct 29, 2008 11:54am Oct 29, 2008 11:54am
Quoting stersuhr
No your right howard. If your using the alpari close time there has been no location to go long. We had a short trade triggered last night that stopped us out in the same bar. The rules state you dont put a reversal trade in until the reversal bar closes, so your right Howard we are flat right now.

-Sterling
Glad I got it right, thanks a lot
Position flat on 4hr system using alpari closes (23 - 03 -07- 11 - 15 - 19)GMT
Regards
  • #658
  • Oct 29, 2008 12:22pm Oct 29, 2008 12:22pm
Hi Guys
I am a senior in years and trying to establish a platform to follow and collect. Sterling has invited all of us to use this method. If you want back track, testing forward do it on your own account, make use of your own time. This person is trying to help us to better our positions but the rules are there and follow it or make a suggestion for alterations.
No hard feelings but bring your own 2 cents and all of us will learn to better our positions, for myself I am learning from somebody who made some progress which I cannot do
  • #659
  • Oct 29, 2008 12:51pm Oct 29, 2008 12:51pm
hello Sterling! sorry, but i am still a little confused about how to trade if we get stopped out at a reversal bar... you said we are flat now. so, we are not in a trade at all now? are we waiting for the short setup only?
wouldnt it be more profitable if we enter on reversal bar? not talking about yesterday, but in a long run...

thank you. btw:nice results for the month! just as you promised

tonny
  • #660
  • Oct 29, 2008 1:31pm Oct 29, 2008 1:31pm
Hi Howard,
how do you get the 8H charts with Metatrader. I am using Alpari(UK).

Greetings DJOetzi
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