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4H 5EMA System

  • #701
  • Oct 30, 2008 2:55am Oct 30, 2008 2:55am
The SL will be moved to the last closed bar's low? That last bar has to be a posible setup bar for the opposite order? Or it doesn't matter?
  • #702
  • Oct 30, 2008 2:57am Oct 30, 2008 2:57am
Is Thare EA for this system ?? i did not here about it!
Never sell @ lower upward channel unless breacked and vise versa .
  • #703
  • Oct 30, 2008 2:59am Oct 30, 2008 2:59am
Quoting AlexL
The SL will be moved to the last closed bar's low? That last bar has to be a posible setup bar for the opposite order? Or it doesn't matter?
The last closed bar on your chart is the setup bar until the current bar closes. When the current bar closes your stop for the long goes 5 pips under that and the sell stop goes at the same place.

-Sterling
Founder of Day Trading Forex Live
  • #704
  • Oct 30, 2008 3:01am Oct 30, 2008 3:01am
Quoting stersuhr
The last closed bar on your chart is the setup bar until the current bar closes. When the current bar closes your stop for the long goes 5 pips under that and the sell stop goes at the same place.

-Sterling
So basically the SL will be where the opposite trade will start.
  • #705
  • Oct 30, 2008 3:05am Oct 30, 2008 3:05am
Quoting AlexL
So basically the SL will be where the opposite trade will start.
The rules state that you only exit a trade when you get a signal to go the other way, so yes.

-Sterling
Founder of Day Trading Forex Live
  • #706
  • Oct 30, 2008 4:12am Oct 30, 2008 4:12am
Quoting bhupinder
Hi Howard
Thanks for Period converter. I am able to load the 8Hour chart but It does not seem to change the price, it is stuck at one price. What can i do to get this solved.
Thanks in advance
Bhupinder
You should allow DLL imports, tick the box and it will work properly
Regards
  • #707
  • Oct 30, 2008 4:20am Oct 30, 2008 4:20am
Long 27/10/08

Entry: 1.5668
Stop : 1.6348
Regards
  • #708
  • Oct 30, 2008 4:53am Oct 30, 2008 4:53am
Well, the long position has ended with 878 pips profit.
Now i'm short with 50 pips running profit.
Attached Image (click to enlarge)
Click to Enlarge Name: gu7.gif Size: 23 KB
  • #709
  • Edited 8:08am Oct 30, 2008 6:14am | Edited 8:08am
Hi Sterling:

Attached is my GU short...I booked 920 pips on last long.

Now...I got short just like you did on your platform....Looks like I'm going to get stopped out. Do I reverse again here (I've already reversed my long) if I get stopped and go long again, or do I wait till the next candle/setup bar (close of current candle is 8am EST)??

Let me know...thanks.

Greg
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5ema 1.gif Size: 12 KB
  • #710
  • Oct 30, 2008 6:56am Oct 30, 2008 6:56am
Hi howard
Thanks for your reply.I checked (tick) allow the DLL import box but still the same.
Bhupinder
  • #711
  • Oct 30, 2008 7:20am Oct 30, 2008 7:20am
Howard...could you post an 8 hour chart so I can compare to make sure the indictor works. It should say H8 offline correct? And your last entry bar was on 10/27 at 08:00 for the long now with a stop buy as indicated in your last post. Thanks
  • #712
  • Oct 30, 2008 7:44am Oct 30, 2008 7:44am
Quoting batesmotel
Hi Sterling:

Attached is my GU short...I booked 967 pips on last long.

Now...I got short just like you did on your platform....Looks like I'm going to get stopped out. Do I reverse again here (I've already reversed my long) if I get stopped and go long again, or do I wait till the next candle/setup bar (close of current candle is 8am EST)??

Let me know...thanks.

Greg
Your short trade is not a reverse trade its an actual signal. A reverse trade when you get stopped at the original stop loss. Your reversal bar has not closed either way so no you dont put the reverse order in the market until the reversal bar closes.

-Sterling
Founder of Day Trading Forex Live
  • #713
  • Oct 30, 2008 8:01am Oct 30, 2008 8:01am
Quoting batesmotel
Hi Sterling:

Attached is my GU short...I booked 967 pips on last long.

Now...I got short just like you did on your platform....Looks like I'm going to get stopped out. Do I reverse again here (I've already reversed my long) if I get stopped and go long again, or do I wait till the next candle/setup bar (close of current candle is 8am EST)??

Let me know...thanks.

Greg

That last candle that you had on your chart is a classic doji - if you did a bit of reading up on candle sticks - you would find out that it's a good sign that the market is exhausted in going up (long) - it turns out to be a good entry by the looks of it anyhow. Hope that helps.

Cheers,
  • #714
  • Oct 30, 2008 8:12am Oct 30, 2008 8:12am
Quoting stersuhr
Your short trade is not a reverse trade its an actual signal. A reverse trade when you get stopped at the original stop loss. Your reversal bar has not closed either way so no you dont put the reverse order in the market until the reversal bar closes.

-Sterling
Thanks Sterling...

So If I get Stopped out...I wait till the candle closes at 8am...Then I get long right then, or do I wait for next set up bar?

I know I'm kind of "thick"... but this is the only confusing thing that I'm hung up on with your method...

Greg
  • #715
  • Oct 30, 2008 8:15am Oct 30, 2008 8:15am
Quoting Pipsnagger
Howard...could you post an 8 hour chart so I can compare to make sure the indictor works. It should say H8 offline correct? And your last entry bar was on 10/27 at 08:00 for the long now with a stop buy as indicated in your last post. Thanks
That is correct, it is an offline chart
Attached is my chart, green line is entry, red line is stop loss for the long trade, dotted yellow vertical line is the entry date, there is no reverse to short order as yet we have to wait for the close of this current reversal bar in about 1 hour 45 mins to place the reverse order if needed
Attached Image
Regards
  • #716
  • Oct 30, 2008 10:13am Oct 30, 2008 10:13am
Trade no 1

Long 27/10/08

Entry: 1.5668
Stop : 1.6348

Long stopped out at 1.6348 on 30/12/08

P/L= +680 pips
Regards
  • #717
  • Oct 30, 2008 10:26am Oct 30, 2008 10:26am
I short G/U @
sell stop - 1.6414
SL moved to - 1.6638

the bar before the current one touched both high and low 5EMAs that means it does not qualify as a set up bar and that is why I only moved the SL from the previous bar to 5 pips + its high


pls I want to know if I am doing the right and the same thing as the others.
John 3:16 - From THIS love no power on earth can me sever.
  • #718
  • Oct 30, 2008 10:39am Oct 30, 2008 10:39am
Trade no 2

30/10

Short at 1.6308
Stop at 1.6683
Regards
  • #719
  • Oct 30, 2008 10:41am Oct 30, 2008 10:41am
You're correct. If the bar touches both EMAs then it's not a setup bar.

Quoting Kosomolate
I short G/U @
sell stop - 1.6414
SL moved to - 1.6638

the bar before the current one touched both high and low 5EMAs that means it does not qualify as a set up bar and that is why I only moved the SL from the previous bar to 5 pips + its high


pls I want to know if I am doing the right and the same thing as the others.
  • #720
  • Oct 30, 2008 12:10pm Oct 30, 2008 12:10pm
AlexL

How are you? I have been watching your progression with the 8hr timeframe. It looks to be profitable...what is your general opinion of what you have tested so far?

My only concern would be...yes it seems as though it may catch the longer trend and filter out some of the whipsaw...but doesn't that also mean that the losses will be larger because of the timeframe and the size of the moves.

I do agree that it is a benefit to those who may not have access to the computer on a frequent basis.

Just looking for your imput...thanks for the hard work!

Mike



Quoting AlexL
Well, the long position has ended with 878 pips profit.
Now i'm short with 50 pips running profit.
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