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4H 5EMA System

  • #821
  • Nov 2, 2008 5:40pm Nov 2, 2008 5:40pm
Quoting stersuhr
I just went over July of 07' and got +150 for the month. Are you using alpari as your standard or another broker? You charts are fuzzy and I cant download them, or else I would check those and let you know where you went wrong. Unless your using another broker then your probably right.

-Sterling
Hi Sterling...Thanks for checking out my back test...

I'm using Interbankfx...so the charting will be different....ie. 0:00, 4:00, 8:00, 12:00, 16:00 and 20:00 EST on 4hr time frame.

that's probably why the discrepancy....

Greg

oh...BTW, if you zoom in on my chart that is posted...it comes out much more clearly than the initial click...just click on chart a 2nd time in order to zoom in...
  • #822
  • Nov 2, 2008 5:50pm Nov 2, 2008 5:50pm
Quoting batesmotel
Hi Sterling...Thanks for checking out my back test...

I'm using Interbankfx...so the charting will be different....ie. 0:00, 4:00, 8:00, 12:00, 16:00 and 20:00 EST on 4hr time frame.

that's probably why the discrepancy....

Greg

oh...BTW, if you zoom in on my chart that is posted...it comes out much more clearly than the initial click...just click on chart a 2nd time...

Yeah that sounds like the simplest explination for that. Anyway you can post the charts so they come out clearer so I can check them?

-Sterling
Founder of Day Trading Forex Live
  • #823
  • Nov 2, 2008 5:55pm Nov 2, 2008 5:55pm
Quoting stersuhr
Yeah that sounds like the simplest explination for that. Anyway you can post the charts so they come out clearer so I can check them?

-Sterling
u can send me an email to ([email protected]) and I will send you all the chart pics for 2007...then u can open them with "Windows Picture Viewer" or whatever software u use to open pics.

That way...the charts will be crystal clear....

Greg
  • #824
  • Nov 2, 2008 5:57pm Nov 2, 2008 5:57pm
Quoting batesmotel
u can send me an email to [email protected] (\"[email protected]\") and I will send you all the chart pics for 2007...then u can open them with \"Windows Picture Viewer\" or whatever software u use to open pics.

Greg
My email is ([email protected]) feel free to email me anytime with charts or questions. That goes for anyone else too.

-Sterling
Founder of Day Trading Forex Live
  • #825
  • Nov 2, 2008 6:00pm Nov 2, 2008 6:00pm
Just a side note I just signed up for tradethenews again and they are frickin awesome!!! I hope this isnt spamming if it is just let me know and ill delete it.

-Sterling
Founder of Day Trading Forex Live
  • #826
  • Nov 2, 2008 6:04pm Nov 2, 2008 6:04pm
Quoting stersuhr
The stoploss would go back to the original location and you would have a reversal order there as well.

-Sterling
Thanks Sterling,
I gather that when we do use the 50% rule we only use a stoploss at 50% pips and no reversal order as well? so if that is hit we just get stopped 50% of max profit and wait for next signal?

Paul
  • #827
  • Nov 2, 2008 6:08pm Nov 2, 2008 6:08pm
Quoting viperzz
Thanks Sterling,
I gather that when we do use the 50% rule we only use a stoploss at 50% pips and no reversal order as well? so if that is hit we just get stopped 50% of max profit and wait for next signal?

Paul
Yup you got it right. No reversal order on the 50% retracement stop.

-Sterling
Founder of Day Trading Forex Live
  • #828
  • Nov 2, 2008 7:47pm Nov 2, 2008 7:47pm
It's the start of a new week, do we look back to the last candle of the last week as a possible set up bar? If we do then we're in a trade at 1.6172 right (3 pip spread)?
  • #829
  • Nov 2, 2008 7:57pm Nov 2, 2008 7:57pm
Quoting PowerBySol
It's the start of a new week, do we look back to the last candle of the last week as a possible set up bar? If we do then we're in a trade at 1.6172 right (3 pip spread)?
Before the market closed last week it made its lowest low and then had two failed reversal bars, so we are waiting on a proper setup bar right now.

-Sterling
Founder of Day Trading Forex Live
  • #830
  • Nov 2, 2008 8:05pm Nov 2, 2008 8:05pm
check. thanks -
  • #831
  • Nov 2, 2008 9:23pm Nov 2, 2008 9:23pm
Looks like we gotta wait for another bar. The first bar of the week touched both EMA's and so therefore is invalid.

-Sterling
Founder of Day Trading Forex Live
  • #832
  • Nov 2, 2008 9:28pm Nov 2, 2008 9:28pm
Quoting stersuhr
Looks like we gotta wait for another bar. The first bar of the week touched both EMA's and so therefore is invalid.

-Sterling
Sterling,
Why would we not go long when Fridays setup bar 12:00 high was broken?

Also, when trading 5 min, it seems like 5 pips above highs and lows is too much. I have used 2 pips so far with success, how about you?
M
  • #833
  • Nov 2, 2008 9:43pm Nov 2, 2008 9:43pm
Quoting alllivemind
Sterling,
Why would we not go long when Fridays setup bar 12:00 high was broken?

Also, when trading 5 min, it seems like 5 pips above highs and lows is too much. I have used 2 pips so far with success, how about you?
M
Two bars before the last bar on friday was the lowest low. The following two bars right before the friday close failed to trigger a buy and therefore the trade was cancelled. Hope this clears things up for ya.

-Sterling
Founder of Day Trading Forex Live
  • #834
  • Edited Nov 3, 2008 6:06am Nov 2, 2008 10:14pm | Edited Nov 3, 2008 6:06am
Quoting stersuhr
Two bars before the last bar on friday was the lowest low. The following two bars right before the friday close failed to trigger a buy and therefore the trade was cancelled. Hope this clears things up for ya.

-Sterling
OK,
Thanks, I should have known that one!

Could you look at my other question?
  • #835
  • Nov 2, 2008 10:22pm Nov 2, 2008 10:22pm
Quoting alllivemind
OK,
Thanks, In should have known that one!

Could you look at my other question?
I dont really use this system to scalp with, but I would think that 2 pips would be the right about instead of 5. Still include spread for buys tho.

If anyone has a live Alpari account and is willing to do me a favor please PM me!!!!

-Sterling
Founder of Day Trading Forex Live
  • #836
  • Nov 3, 2008 2:23am Nov 3, 2008 2:23am
I dont usually recommend using other pairs with this system but the AUD/USD might be a good short right about now, and heres why. They have an interest rate decision tomorrow where they are expected to cut by .5% and there is a possability for them to suprise. Greed/fear drives every market and after the 150 pip spike down the last time they cut people probably want to be short if anything right before the news tomorrow at 10:30 EST.

Ive been short from .6833 with my stop at .6933 And the carry trades look like there ready to selloff for the temporary and the AUD usually goes the direction of the U/J when it moves hard in one direction.

-Sterling
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Founder of Day Trading Forex Live
  • #837
  • Nov 3, 2008 2:36am Nov 3, 2008 2:36am
27/10

Trade no 1 closed +680

30/10

Trade no 2

Short at 1.6308
Stop at 1.6683

Stop moved to 1.6508

Stop safely moved to 1.6294

Stop moved to 1.6276

03/11

Trade no 2 closed +32 (had I used end-of-week-close rule, profit would have been much higher)

Waiting for a valid new setup bar
Regards
  • #838
  • Nov 3, 2008 2:38am Nov 3, 2008 2:38am
Quoting howard
27/10

Trade no 1 closed +680

30/10

Trade no 2

Short at 1.6308
Stop at 1.6683

Stop moved to 1.6508

Stop safely moved to 1.6294

Stop moved to 1.6276

03/11

Trade no 2 closed +32 (had I used end-of-week-close rule, profit would have been much higher)

Waiting for a valid new setup bar
What broker are you using howard?

-Sterling
Founder of Day Trading Forex Live
  • #839
  • Nov 3, 2008 2:53am Nov 3, 2008 2:53am
Quoting stersuhr
What broker are you using howard?

-Sterling
It is WHC, timing is the same as alpari like your charts
Regards
  • #840
  • Nov 3, 2008 3:03am Nov 3, 2008 3:03am
Quoting howard
27/10

Trade no 1 closed +680

30/10

Trade no 2

Short at 1.6308
Stop at 1.6683

Stop moved to 1.6508

Stop safely moved to 1.6294

Stop moved to 1.6276

03/11

Trade no 2 closed +32 (had I used end-of-week-close rule, profit would have been much higher)

Waiting for a valid new setup bar
The low of the setup bar for that short was 1.6351 so you should have been short from 1.6341 if your using 10 pips below and above.

-Sterling
Founder of Day Trading Forex Live
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