Hi sterling, just a quick line to say thank you for the incredible system that you are providing to everyone here, and the patience to answere all the questions, thank you also to everyone else that has contributed throughout this thread.
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Dislikedthe 00:00 bar on alpari just closed crossing the low 5EMA more than 5 pips touching the high 5EMA but not crossing it
what is the next thing to do?
- simply remain in the long position as in trade #29 cos the 16:00 bar has the lower low OR
- move the SL from the low of 00:00 bar to the low of the current 04:00 bar
may I have some confirmation
and another shady area to me is that sterling said we should wait for the reversal bar to close before placing our reversal trade, that is if we were stopped out and now that he said we should have our sell stop @ 1.6205
wont this sell stop trigger as soon as the trade got stopped out at this point?Ignored
DislikedWell first the bar that was at 00:00 never hit the higher ema it was 8 pips below. I do not know what sterling has said about the reversal but any time that i put in a trade i have a reversal order in the market at the stop loss. besides that the 00:00 bar never made a lower low in other words you are in a long already so if that bar never made a lower low you are still in a long. I hope that clears up a littleIgnored
DislikedHi Sterling and Hiranya,
I'm having go at trading this on an Oil chart as well,
I just want to Clarify something, sorry if it has already been gone over before.
See Chart,
Sell Trade was taken at the top and currently in good profit, although it was entered a little late at the top manually.
As price went in profit, I have moved stop loss and pending buy reversal to above candle 1.
Since Candle 1. is the lowest low I still have the stop there, should I have moved it on further by now?
I have not as yet because the two candles following 2 and 3 did not make any lower lows, so now those two have past we look for a fresh one to place the stop above and also pending buy right? and this new...Ignored
DislikedSterling,
Are you/ your programmer confident that an EA can be made to follow your rules exactly?? I mean can the EA handle all things specified some being more complex and discretionary such as the 50% rule? and weekend close time plus deciding weather or not to re-enter and continue the trade the following week?Ignored
DislikedWell we are short now, and both timeframes got short below the low at 1.6207. Timeframe A (for Alpari) lost 264, time frame B (for iBfx?) lost 289. The 8 hour is still short from 1.6358 with no chop. And that's the weather!Ignored
DislikedYou might just turn me into a 8H timeframe believer...mike right?
-SterlingIgnored
DislikedWell last few trades it's been miraculous, but go back a bit on the chart before this big drop, and there's a lot of chop. The 8 hour has also been great lately on E/J. This system, I must thank you, has given me a new confidence in trading...
-MichaelIgnored
DislikedNo problem man glad to help...the good thing is the system is the same on any time frame, so whatever your preference the system remains the same. 8H, 4H, 1H hell even the 5M it works pretty well on from 1-4 in the morning. It works good from 8-11 on the 5M too.
-SterlingIgnored