4H 5EMA System

Quoting PowerBySol

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Hey Ivon -

The green circled bar from 9/25 20:00 does not actualy touch the 5EMA Close. You can't tell from the posted picture but if you go to the actual chart you can see it. At least you can on my Alpari US Demo.

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Quoting ivonivon

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Hi, thanks for sharing your system...

I just want to ask regarding your first chart (post#2) and the explanation given in post#6.

Your chart (I've marked candle that confuse me):

You said you enter trade in no.2, and regarding to your rules:

Thanks for some explanations!

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Quoting Kosomolate

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Hi Sterling and others,

I only have an account of 2k so STERLING I need advice on the following:

what size should I start with?
at what stage should I increase the size? e.g weekly...
and what should be the increase ? eg 0.01 to 0.02 ...
thanks

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Quoting batesmotel

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Hi Sterling:

Can you take a look at this long trade at 1.9597? This is a messy trade and it doesn't seem clear to me where I would close the long and go short...

If u can enlighten me on this one...it would clear up a lot of confusion....thanks

Greg

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Quoting Kosomolate

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Hi Sterling and others,

After about 2 wks of demo trading the 5EMA I intend to start trading it on a live account from 3rd of Nov. following every rules. and keeping the record of all the trades I take, right through to the end of Nov. to see what happens.

I only have an account of 2k so STERLING I need advice on the following:

what size should I start with?
at what stage should I increase the size? e.g weekly...
and what should be the increase ? eg 0.01 to 0.02 ...

I would really need this and more cos I have finally decided to stick to this system

We all know that there is difference between demoing and live trading

thanks

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Quoting ivonivon

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Hi, thanks for sharing your system...

I just want to ask regarding your first chart (post#2) and the explanation given in post#6.

Your chart (I've marked candle that confuse me):

http://img393.imageshack.us/img393/9198/chartux6.jpg

You said you enter trade in no.2, and regarding to your rules:

[font=Arial][size=4]1.) Price must go above/below the 5EMA by 5 pips for it to be considered a setup bar. If price breaks the lower EMA you only look for longs and if price breaks the high EMA you only look for short entries. Price must touch one or the other not both, if it touches both EMS[color=black][font=Arial]’s...

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Quoting Ronald Raygun

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I don't remember seeing anything in the rules saying the bar has to touch the high/low EMA, it just nees to hav a part outside it.

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Quoting m78

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Sterling already said he recommends a standard lot for 20K account so if you have 10 times less then you use a minilot (10K positions vs 100K)

I guess the moment you get your account to 2200 you can go to 11K or you could wait till you double the account ...

It's all about surviving the drawdown without a marigin call

m78

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Quoting FX fuel

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how thise nice sys work on a sideway market condition?

can u please give here a visoel exempels?


thise is a good thread

thenk u all

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Quoting stersuhr

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The bar before the green ones was the setup bar. It made the lowest low and the rules state that it has two bars after the lowest low or higest high to trigger the trade, if it dosent the trade is canecelled and you start looking for a setup bar. The first bar after the ones circled in green was a setup bar but then the next bar made a lower low and thus became the setup bar. That bars buy stop was triggered by the bar following it and was later stopped out on a weekend gap. Since it got stopped out you would have went short per the reversal rules and rode the short down. I hope this makes sense, if not ask again.

-Sterling

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Quoting PowerBySol

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It's good to know I need to work this out a bit more before a reversal is formed ;-}

I appreciate the way you walked the process though Sterling. I am going to try and write a 'check list' to perform at each new candle to help cement the process in my mind. I'll post it in case it helps anyone, and in case anyone is willing to correct any mistakes. Here's to a new week

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Quoting PowerBySol

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Thanks Ronald - Sterling,

The fact that the bar did not need to touch was not clear to me. When looking for a buy set up candle the candle must break the lower 5EMA to the down side, once it does then it dosn't matter if it still touches the L 5EMA. Opposite for a Sell setup. This sound right? Had it in my head that the bar had to be touching. I think the statement 'follow it for a week and it will come clear' will prove true ;-}

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Quoting batesmotel

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Hi Everyone:

I'm continuing to back test 2007. The results are quite surprising...so here is January - July results: 2007 was not a particularly good year....unless my backtests are in error.


2007
Jan +626 pips
Feb -465 pips
Mar +100 pips
Apr +407 pips
May +286 pips
Jun +30 pips
Jul -27 pips

Average for the first 7 months of 2007 is +137 pips/mth.

February was a bad month and March wasn't much better...I included the charts for the \"challenging months\" if anyone wants to double check...

Note: bar shift is 0:00, 4:00, 8:00, 12:00, 16:00 and 20:00 hours

Greg

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Quoting viperzz

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Hi sterling,
What if we have a failed or several failed setup bars and no where to put our stop if the price has not yet gone 150+ in profit so the 50% rule would then not apply.

Would we temporally move the stop back to low/high+5 of the very first setup bar where we entered the current trade? If that is the case, is it just a stoploss we put there without an opposite order until a new signal comes?

Thanks, Paul

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