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4H 5EMA System

  • #961
  • Nov 10, 2008 10:36pm Nov 10, 2008 10:36pm
Sorry i'm confused again

Quoted from your rule:
Quote
2.) If you get stopped out you then reverse the trade. If you are long and get stopped out you enter short when you get stopped out. So not only do you have your stop in the market but you also have your order to change the direction of the trade should you get stopped out. Only put a trade to go the other direction in the market after a proper reversal bar closes.

What is stopped out? What condition could trigger stopped out, for example in buy position?

Thanks for explaining!
  • #962
  • Nov 10, 2008 10:44pm Nov 10, 2008 10:44pm
Quoting ivonivon
Sorry i'm confused again

Quoted from your rule:


What is stopped out? What condition could trigger stopped out, for example in buy position?

Thanks for explaining!
stopped out Having an order executed at a specified stop price. For example, suppose Union Pacific stock trades at $65 and an investor enters a stop order to sell 500 shares at $62. If the stock price subsequently falls and the order is executed at $62, the customer is stopped out.

Hope that helps..
  • #963
  • Nov 10, 2008 10:54pm Nov 10, 2008 10:54pm
Quoting steadyincome
Hello everyone, I have only been following this forum fo about 2 weeks and im rather inpressed with this system and thank you all for the info that you post. I have been scalping using the system and doing really well,this morning in Australia i did my setup and picked up...
What a hassel
Attached Image (click to enlarge)
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  • #964
  • Nov 10, 2008 10:57pm Nov 10, 2008 10:57pm
Quoting ivonivon
Sorry i'm confused again

Quoted from your rule:


What is stopped out? What condition could trigger stopped out, for example in buy position?

Thanks for explaining!

Look at the GBP/USD 20:00gmt 4H candle (IBFX). That was a setup bar, so you would have entered long(buy). You would have placed your stoploss at the low of this candle. SO in the next 4H candle, price eventualy moved down and would have triggered your stoploss, it is at this stoploss you reverse your order to a short(sell)..... when the stoploss was trigered you were Stopped OuT.
  • #965
  • Nov 10, 2008 11:33pm Nov 10, 2008 11:33pm
now i want to ask...
according to rules, actually there's two exit points (take profit):
1. When you're stopped out (and then reverse the trade).
2. When signal to go against your current trade appears (buy/long).

So, which exit should we use?
(i'm confused because every trade have stopped out right?
That is when you place buy/sell stop according to the long/short setup bar)

Thanks for explaining!
  • #966
  • Nov 10, 2008 11:44pm Nov 10, 2008 11:44pm
Quoting ivonivon
now i want to ask...
according to rules, actually there's two exit points (take profit):
1. When you're stopped out (and then reverse the trade).
2. When signal to go against your current trade appears (buy/long).

So, which exit should we use?
(i'm confused because every trade have stopped out right?
That is when you place buy/sell stop according to the long/short setup bar)

Thanks for explaining!
The signal trade overtakes the reverse trade.

Yes, for every trade, you have a reverse order ready (stoploss reverse or with signal). That is why you will NOT miss any big move.

Cheers,
Simon
  • #967
  • Nov 10, 2008 11:47pm Nov 10, 2008 11:47pm
How many pips gain yesterday using 4H 5EMA?

Just curious, my sterling challenge 1 EA gain till this write is +263 pips.
  • #968
  • Nov 10, 2008 11:54pm Nov 10, 2008 11:54pm
Quoting ivonivon
now i want to ask...
according to rules, actually there's two exit points (take profit):
1. When you're stopped out (and then reverse the trade).
2. When signal to go against your current trade appears (buy/long).

So, which exit should we use?
(i'm confused because every trade have stopped out right?
That is when you place buy/sell stop according to the long/short setup bar)

Thanks for explaining!

If you read the thread, you will see that everyone has their own method (like placing their stoploss to breakeven once the trade reaches +100/ trailstop of 100), but according to the rules: This is how I understand it -

1. If the trade go in your direction you entered, for long - move you stoploss to the low of the next 4H bar that has finished - once a new 4H bar starts, until you are stopped out... which is also then you next sell, if the bar was a setup bar for short.
  • #969
  • Nov 11, 2008 12:06am Nov 11, 2008 12:06am
to clarify things, i want to ask if stopped out = stop loss?
  • #970
  • Nov 11, 2008 12:16am Nov 11, 2008 12:16am
and does it mean stop loss = buy/sell stop in reverse trade?
  • #971
  • Nov 11, 2008 12:16am Nov 11, 2008 12:16am
Quoting ivonivon
to clarify things, i want to ask if stopped out = stop loss?

In this method - almost always.
  • #972
  • Nov 11, 2008 12:19am Nov 11, 2008 12:19am
Quoting ivonivon
and does it mean stop loss = buy/sell stop in reverse trade?
Not always, you need a setup bar to enter another trade, if the "setup" bar touched both lines (or didn't break the line with 5 pips), it is not a setup bar.
  • #973
  • Nov 11, 2008 12:29am Nov 11, 2008 12:29am
Quoting Jnita
Not always, you need a setup bar to enter another trade, if the "setup" bar touched both lines (or didn't break the line with 5 pips), it is not a setup bar.
in reverse trade do you care about the setup bar?
For example see post#465.
Stersuhr said that the sell stop are the buy order that get stopped out.
He entered trade when the stoploss was hit.
Do you see any proper setup bar there?
I mean, the long blue candle (which is followed by long red candle) touched both lines.
  • #974
  • Edited 12:38am Nov 11, 2008 12:31am | Edited 12:38am
Sterling,

I hope you don't mind me adding this comment to your thread, since it has nothing to do with 4H TF, but your rules apply:

I have been monitoring and paper trading this method on a 15M and 1H, and the trade rules also work on both TF... and it could keep me in the market almost 24/5½.

On the 15M, the 5EMA high works well as a SL for short and visa versa for a long. It does place me in long and short trades at the same time, but with a fixed stoploss method, the trades are profitable.

EDIT: Oops, my dad just told me that it was mentioned already :-)
  • #975
  • Nov 11, 2008 12:40am Nov 11, 2008 12:40am
Quoting ivonivon
in reverse trade do you care about the setup bar?
For example see post#465.
Stersuhr said that the sell stop are the buy order that get stopped out.
He entered trade when the stoploss was hit.
Do you see any proper setup bar there?
I mean, the long blue candle (which is followed by long red candle) touched both lines.

on what page is post #465?
  • #976
  • Nov 11, 2008 12:43am Nov 11, 2008 12:43am
Quoting Jnita
on what page is post #465?
I'm sorry.. it is post #485.
Here's http://www.forexfactory.com/showpost.php?p=2301769&postcount=485
  • #977
  • Edited 12:55am Nov 11, 2008 12:47am | Edited 12:55am
Quoting ivonivon
in reverse trade do you care about the setup bar?
For example see post#465.
Stersuhr said that the sell stop are the buy order that get stopped out.
He entered trade when the stoploss was hit.
Do you see any proper setup bar there?
I mean, the long blue candle (which is followed by long red candle) touched both lines.
I haven't looked at the post, but from your writeup i gather -

I think what he meant here is: he was long, but the trade turned so at the SL he placed a pending sell... as per his rules.

EDIT: if that red bar breaked the 5EMA high by 5 pips, he would have placed a pending sell at his SL of the long trade.
  • #978
  • Nov 11, 2008 12:52am Nov 11, 2008 12:52am
so how do you trade this last candle... (after the gap)... i'm pretty confused.
http://www.forexfactory.com/attachme...1&d=1226350447
  • #979
  • Nov 11, 2008 12:58am Nov 11, 2008 12:58am
Quoting Jnita
I haven't looked at the post, but from your writeup i gather -

I think what he meant here is: he was long, but the trade turned so at the SL he placed a pending sell... as per his rules.

EDIT: if that red bar breaked the 5EMA high by 5 pips, he would have placed a pending sell at his SL of the long trade.
no.. the reverse trade are short... there's no pending buy here.
please read post #485 and his explanation first.

So the reverse trade doesn't care any setup bar right? Only if we got stopped out we open another position.

So when we also got stopped out in the reverse trade, we reverse again?
Is that ok? I see every trade has a big stop loss...
  • #980
  • Nov 11, 2008 1:05am Nov 11, 2008 1:05am
Quoting ivonivon
so how do you trade this last candle... (after the gap)... i'm pretty confused.
http://www.forexfactory.com/attachme...1&d=1226350447
if this last red candle close, without touching the 5EMA high line, you would place a pending buy stop order at the high... 5pips + your broker spread, and stoploss at the low.


....or do you mean the blue candle at week open?
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