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4H 5EMA System

  • #881
  • Nov 5, 2008 3:38pm Nov 5, 2008 3:38pm
I have the EA and im trying to test it but when I put it on the charts and select live trading the EA still looks like the following 2 pics. Any help would be appreciated.

-Sterling
Attached Image (click to enlarge)
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Attached Image
Founder of Day Trading Forex Live
  • #882
  • Nov 5, 2008 3:50pm Nov 5, 2008 3:50pm
Quoting stersuhr
I have the EA and im trying to test it but when I put it on the charts and select live trading the EA still looks like the following 2 pics. Any help would be appreciated.

-Sterling
Have you clicked on Expert Advisor icon to enable it?
Regards
  • #883
  • Nov 5, 2008 3:53pm Nov 5, 2008 3:53pm
Quoting howard
Have you clicked on Expert Advisor icon to enable it?
Let me just start by saying that im dumb....no I havent lol. Thank you. Im waiting on a reply from the creator of this EA to see weather I can post it or not. Im sure it wont be a problem.

-Sterling
Founder of Day Trading Forex Live
  • #884
  • Nov 5, 2008 3:57pm Nov 5, 2008 3:57pm
Quoting howard
Have you clicked on Expert Advisor icon to enable it?
Yeah looks like you just need to press the Expert Advisor button at the top next to the new order button, I can see it isn't activated in your pic, If that doesn't work like it goes frowny face then press F7 for expert properties and "tick enable live trading" I think you already did that though by the sounds.
  • #885
  • Nov 5, 2008 4:01pm Nov 5, 2008 4:01pm
Trade #2 was closed for a +144 pip profit.

Trade #3 was closed for a -79 pip loss

Trade #4 was closed for a -40 pip loss

Trade #5 we are short from 1.5948 with the stop at 1.6205 You should also have a buy order at the sell orders stop loss.

I will post the chart later, im running an EA and cant right now. The total pips for the month is +484 pips.

-Sterling
Founder of Day Trading Forex Live
  • #886
  • Nov 5, 2008 5:35pm Nov 5, 2008 5:35pm
Hi Sterling,
Regarding the 50% rule,

First, is the initial bar that triggers the trade, counted as one failed setup bar if it doesn't meet the requirements, so we then only have to wait for the next one to close to see if we can use the 50% rule?

and
Is it designed only to be used after strictly the second setup bar fails??

I was just wondering, if the candle that triggers initial trade moves +250 pips in profit itself but is not a new setup candle because it touched both lines or is just inside the top line, so your initial stop is still 250+ pips away, can you immediately move the stop to 50% or must we still wait for the next candle to close to see what it does?-
  • #887
  • Nov 5, 2008 6:16pm Nov 5, 2008 6:16pm
Quoting viperzz
Hi Sterling,
Regarding the 50% rule,

First, is the initial bar that triggers the trade, counted as one failed setup bar if it doesn't meet the requirements, so we then only have to wait for the next one to close to see if we can use the 50% rule?

and
Is it designed only to be used after strictly the second setup bar fails??

I was just wondering, if the candle that triggers initial trade moves +250 pips in profit itself but is not a new setup candle because it touched both lines or is just inside the top line, so your initial stop is still 250+ pips away, can you immediately move the stop to 50% or must we still wait for the next candle to close to see what it does?-
i strictly use the 50% retracement stop when I have a failed setup bar, and no other time.

-Sterling
Founder of Day Trading Forex Live
  • #888
  • Nov 5, 2008 7:08pm Nov 5, 2008 7:08pm
Thanks
  • #889
  • Nov 5, 2008 11:48pm Nov 5, 2008 11:48pm
Quoting PowerBySol
I tried this indicator on the 5 min time frame and had four bars repaint from blue to red. I'll try it on 4 hour now and see what happens.
I don't think this indicator will help with this trading method, it showed red at yesterdays 4:00gmt bar IBFX (which was a setup bar for buy), if I stayed out... I would have lost out on 203 pips.

In this method, we trade against the main trend at times, so my conclusion would be not to use it.
  • #890
  • Nov 6, 2008 12:45am Nov 6, 2008 12:45am
I would not use it in conjunction with Sterling system. The 4H 5EMA is pretty solid on it's own. I thought the indicator might be fun to play with on other time frames.
  • #891
  • Edited 3:15am Nov 6, 2008 2:59am | Edited 3:15am
Quoting PowerBySol
I would not use it in conjunction with Sterling system. The 4H 5EMA is pretty solid on it's own. I thought the indicator might be fun to play with on other time frames.
It shows quite nicely on the 30min TF, I haven't seen a repaint yet, but as you know if you don't pay attention, you miss a repaint.

EDIT: I am trying to find the threads where I saw it, and 'no cigar'. I actually saw it in another thread yesterday (one that was started in April 2008), which included another version of goldminer.
  • #892
  • Nov 6, 2008 5:43am Nov 6, 2008 5:43am
bravo sterling, and moreso for the EA, God bless you for the good work you are doing with your time and resources.

come let us reason together:

I asked if there are filters but I didnt get any response from anyone, and now

Look at the attached chart

- the bar with the red arrow is our set up bar
- the next bar failed as reversal bar cos it did not trigger our buy stop
- the next one triggered it at the blue horizontal line #1
- it went as far as the blue horizontal line #2 about 215 cool pips
- from that height it retraced down past our buy stop entry
and we ended up with -40 pips

trade #4 is one losing trade that is avoidable if we had set TP target with this system.

for example if we have 150 pips as our TP that would have banked that amount for us and make us feel cool.

at the close of the bar we set our order again with another 150 TP after all thats what we do every 4Hrs if the trend continues OK if not OK.

but what is not OK is to come and meet a winner turn looser i.e. +1000 USD down to -200 USD

pls I want everybody looking at this and I want sterling's take on this

thanks a lot

kos

ps dont mind the lines all over I am only testing maxss280's EA
Attached Image (click to enlarge)
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John 3:16 - From THIS love no power on earth can me sever.
  • #893
  • Nov 6, 2008 7:30am Nov 6, 2008 7:30am
Ive always said if someone wants to backtest a method or a slight change to the system like what you have proposed the I welcome it. Im not so prideful so as to believe that this system is as good as it can be because its just plain not. I have a lot of things I have to do tho. I trade all major news releases, scalp, and the 4H system. Im flying out Sunday to go meet an investor. I of course have to golf a few times a week. I just dont have a whole lot of extra time.

Heres why I think this wont be more profitable, I could be wrong this is just my opinion. As much money as this system makes it only wins 60% of the time at best. That being said if you have a 1:1 ratio on you TP and SL then over time you wont make much. Its that 2-3 huge trades a month that make this system so profitable, not the other 25 a month. The other 25 a month usually are break even and then the 2-3 big ones make it profitable. Thats also why I say you have to take every trade. I hope this makes sense. Also I hope someone does prove my rules to be less profitable than theres, I really do, that means more money for me.

Its like the 4H 5EMA challenge. Ronald said you feel like giving away $300 bucks a month, well no I dont but here is why I did that. Say someone does beat me for the month. Ok...I just paid $100 for a bad ass system. I know what this makes on average and if you can beat that, Ill gladly pay you $100 anyday of the week! Thats just good business.

-Sterling
Founder of Day Trading Forex Live
  • #894
  • Nov 6, 2008 7:40am Nov 6, 2008 7:40am
Hello Sterling,


I'm new on this trade.
I think is a really good system, thanks for saring it and congratulations.
I havent finished reading the hole thread, but something happend today with Unexpected rate changes that made me reach Entry level (Short 1.5836) and SL (1.5995) in the same bar.
As the rules says, the (In this case) Long entry after StopLoss should be placed in the following bar, so now Im out of trade.
When should I reenter and what are the rules here?


Attached Image (click to enlarge)
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Jose
  • #895
  • Nov 6, 2008 8:23am Nov 6, 2008 8:23am
Quoting ThinkFX
Hello Sterling,


I'm new on this trade.
I think is a really good system, thanks for saring it and congratulations.
I havent finished reading the hole thread, but something happend today with Unexpected rate changes that made me reach Entry level (Short 1.5836) and SL (1.5995) in the same bar.
As the rules says, the (In this case) Long entry after StopLoss should be placed in the following bar, so now Im out of trade.
When should I reenter and what are the rules here?


Attachment

Jose
I got stopped out for -101 pips there.
  • #896
  • Nov 6, 2008 8:39am Nov 6, 2008 8:39am
Quoting ivonivon
I got stopped out for -101 pips there.
Ok so I was running the new EA on my charts and now i have so many lines that when I move out to the 4H chart I cant see the current bars. How do I delete the lines so I can look at my chart and answer some questions? Thanks for the help!

-Sterling
Founder of Day Trading Forex Live
  • #897
  • Nov 6, 2008 8:42am Nov 6, 2008 8:42am
Quoting ThinkFX
Hello Sterling,


I'm new on this trade.
I think is a really good system, thanks for saring it and congratulations.
I havent finished reading the hole thread, but something happend today with Unexpected rate changes that made me reach Entry level (Short 1.5836) and SL (1.5995) in the same bar.
As the rules says, the (In this case) Long entry after StopLoss should be placed in the following bar, so now Im out of trade.
When should I reenter and what are the rules here?


Attachment

Jose
Well Looking at you chart the buy would have been triggered and then after the reversal bar there was a setup bar to go short which was triggered and stopped out. As of now there are no setup bars because the current doji touched both EMA's. We will have to wait for the next bar, after the current bar to close, to see if it qualifies as a setup bar.

-Sterling
Founder of Day Trading Forex Live
  • #898
  • Nov 6, 2008 8:44am Nov 6, 2008 8:44am
Hi Sterling,

the challenge still valid?

I think i have a system that give better results.
Should I post it here or send you P.M?
  • #899
  • Nov 6, 2008 8:45am Nov 6, 2008 8:45am
Quoting akukaya
Hi Sterling,

the challenge still valid?

I think i have a system that give better results.
Should I post it here or send you P.M?
Yes sir still valid. Read the rules on post #125 to the challenge. If your system is outside those rules Ill work with you on that. You can PM me.

-Sterling
Founder of Day Trading Forex Live
  • #900
  • Nov 6, 2008 9:01am Nov 6, 2008 9:01am
Quoting stersuhr
Yes sir still valid. Read the rules on post #125 to the challenge. If your system is outside those rules Ill work with you on that. You can PM me.

-Sterling
I think it would be better to post it here so that everybody could witness it
Regards
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