4H 5EMA System | Page 57 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

TEB 5ema & 12ema and 21 RSI (MTF) 1,730 replies

5EMA hilo system, and EA Idea 18 replies

4H 5EMA System's EA 79 replies

4HR 5EMA Expert Advisor 42 replies

when 5EMA crosses out of 55LWMA channel 0 replies

Attachments: 4H 5EMA System
Exit Attachments

4H 5EMA System

  • #1,121
  • Nov 14, 2008 1:52pm Nov 14, 2008 1:52pm
Quoting Duncan
Gregoga

I'm glad that someone else read the rules the same way that I did. However, I have modified my EA so that it conforms with the rule as intended by Sterling and it does backtest better so it must be right.

Duncan,

That is ok Sir, I was just thinking we have to find a way to reduce some loses that are as large as -245pips. Thanks for your response.
  • #1,122
  • Nov 14, 2008 2:28pm Nov 14, 2008 2:28pm
so the last 3, 4 trades wiped out whatever profit existed for the month
  • #1,123
  • Nov 14, 2008 2:36pm Nov 14, 2008 2:36pm
Duncan,
Let me get back to you later on that PM...
(had PC problems when we were talking, and now I'm at work)
  • #1,124
  • Nov 14, 2008 3:02pm Nov 14, 2008 3:02pm
Quoting gregoga
Duncan,

That is ok Sir, I was just thinking we have to find a way to reduce some loses that are as large as -245pips. Thanks for your response.
On this occasion it would have been better but on others it would not. The fact is that the rule as stated by Sterling is far more profitable than the way that I read it - according to backtests with my EA.
  • #1,125
  • Nov 14, 2008 3:06pm Nov 14, 2008 3:06pm
Quoting ziko123
so the last 3, 4 trades wiped out whatever profit existed for the month
It depends which pair you are talking about. GBPUSD has been performing better than EURUSD
  • #1,126
  • Nov 14, 2008 5:26pm Nov 14, 2008 5:26pm
Quoting ziko123
so the last 3, 4 trades wiped out whatever profit existed for the month
Ok if you have no idea what this system has done please dont post things like that, people get on a read your post and if there new it turn them away reading something like that. The anwser to that is NO! Were still around +500 pips in profit I believe closer to 600.

-Sterling
Founder of Day Trading Forex Live
  • #1,127
  • Nov 14, 2008 5:29pm Nov 14, 2008 5:29pm
Quoting Duncan
It depends which pair you are talking about. GBPUSD has been performing better than EURUSD
And Ziko thats why this system is only traded on the G/U. You can do it on whatever you like but as you see it just dosent work as well on any other pair over a long period of time. There are times where the G/Y will make +3000 pips in a week or two using this system but over time it averages less than the G/U. Were all looking for long term wealth and with this system the G/U is the place to get it.

-Sterling
Founder of Day Trading Forex Live
  • #1,128
  • Nov 14, 2008 6:05pm Nov 14, 2008 6:05pm
Quoting stersuhr
Ok if you have no idea what this system has done please dont post things like that, people get on a read your post and if there new it turn them away reading something like that. The anwser to that is NO! Were still around +500 pips in profit I believe closer to 600.

-Sterling
I understand this is a mechanical system,
so can you please post the all this month trades so we can see how much profit/loss it did (GBPUSD)
  • #1,129
  • Nov 14, 2008 6:45pm Nov 14, 2008 6:45pm
Hi Sterling
About the 50% rule again,
I understand that we put a stop 50 % back calculated from the maximum amount of profit pips the trade was ever in.
But what happens if you have a failed setup bar, the max amount of pips profit you had been in was 250 pip say, so you would put the stop back to secure 125 pips. But now after the failed setup you go to put that stoploss but the trade has already moved back during the 2 failed bars and only is sitting at 100 pips profit, that is less than the 50% level already-
So do you close it out immediately or just leave it?

It's a rare situation but it can happen if your reversal candle that enters the trade is a big long one that goes +150 itself and the next 2 fail but have already retraced half your profit in the mean time.
  • #1,130
  • Nov 14, 2008 6:48pm Nov 14, 2008 6:48pm
sorry sterling, can you check if the EA i'm linkin in this post follows exactly your rules?

because i tested it from 1/1/2008 to 1/11/08 and it provided 3.66 pips gain...

322 operations about 10000 pips gain and exactly the same of loss...

if your system works differently please let us know *_*
Attached File(s)
File Type: mq4 4HR5EMASystemV1.6.mq4   9 KB | 544 downloads
  • #1,131
  • Nov 14, 2008 7:25pm Nov 14, 2008 7:25pm
Quoting Corre
sorry sterling, can you check if the EA i'm linkin in this post follows exactly your rules?

because i tested it from 1/1/2008 to 1/11/08 and it provided 3.66 pips gain...

322 operations about 10000 pips gain and exactly the same of loss...

if your system works differently please let us know *_*
I tested this EA a few weeks back, It does not follow the rules and I posted in that thread some things that were wrong with it with pics.
Currently, I have not seen an Ea to follow the rules correctly so far, possibly the one Sterling himself is testing right now from Duncan may be the one that will turn out to be right. It is not available to anyone else right now- still in testing.
  • #1,132
  • Nov 14, 2008 10:03pm Nov 14, 2008 10:03pm
Quoting ziko123
I understand this is a mechanical system,
so can you please post the all this month trades so we can see how much profit/loss it did (GBPUSD)

Ive been posting them everyday. Youll have to look back from dec 1st and you will see every trade with a chart to detail it. Sorry if the last post sounded rude I didnt mean it that way. I just want to help everyone I can and if one person gets turned away by a post like that I wouldnt be helping everyone I can. Someone new that has never been here and reads a post like that would be turned away, and thats sad because it wasent true.

-Sterling
Founder of Day Trading Forex Live
  • #1,133
  • Nov 14, 2008 10:05pm Nov 14, 2008 10:05pm
Quoting viperzz
Hi Sterling
About the 50% rule again,
I understand that we put a stop 50 % back calculated from the maximum amount of profit pips the trade was ever in.
But what happens if you have a failed setup bar, the max amount of pips profit you had been in was 250 pip say, so you would put the stop back to secure 125 pips. But now after the failed setup you go to put that stoploss but the trade has already moved back during the 2 failed bars and only is sitting at 100 pips profit, that is less than the 50% level already-
So do you close it out immediately...
We had a trade like this a few weeks ago and I said that the rule is to just close it. I probably havent wrote this in the rule but if you look back I wrote it hours before we did this so no one live got screwed. Good question by the way!

-Sterling
Founder of Day Trading Forex Live
  • #1,134
  • Nov 14, 2008 10:08pm Nov 14, 2008 10:08pm
Quoting Corre
sorry sterling, can you check if the EA i'm linkin in this post follows exactly your rules?

because i tested it from 1/1/2008 to 1/11/08 and it provided 3.66 pips gain...

322 operations about 10000 pips gain and exactly the same of loss...

if your system works differently please let us know *_*
Well were up about 600 pips this month so far so it must be doing something wrong. I have a EA coming...Duncan is making it. I dont really have time to run a few EAs and watch them to see how they are trading the rules. I would just wait until next week when we put the EA out...well probably next week. If I get time next week I will look into it. Im not home right now so please PM it to me so it dosent get lost in the thread. Thank you.

-Sterling
Founder of Day Trading Forex Live
  • #1,135
  • Nov 14, 2008 11:01pm Nov 14, 2008 11:01pm
Trade #14 was closed for +476 pips

Trade #15 was closed 5 minutes before the close for a -124 pip loss.

If come sunday the market opens and we should still be in the trade you re-enter the trade with the same stop loss and the same sell stop reversal order. If the market gaps down below the stop you just enter short. Basically when the market opens on Sundays you just enter where you should be at as if the market never closed and you never closed your trade. As always this is written in the first page rules.

-Sterling
Attached Image (click to enlarge)
Click to Enlarge Name: g.gif Size: 66 KB
Founder of Day Trading Forex Live
  • #1,136
  • Nov 15, 2008 12:39am Nov 15, 2008 12:39am
Hi Sterling

I just wanted to say keep up there buddy. After reading some of the thread lately it seems that some of those out there dont really appreciate what you have done with this system. Or what it was really designed for.

For those who do not know. Keep this in mind

This system was designed for a new trader, at least new to Forex. To be able to have a system that will mechanicaly make money while you learn the markets. What will make you the most money is to learn those markets. I say markets because there are alot of other markets that affect the Forex.

I have seen a number of systems and this is the best I have seen so far.

I dont follow the rules to a tee so I do not do much posting but I can see that it does work. So keep up the good work Sterling.

I look foreward to talking to ya when ya get back.

Chad
  • #1,137
  • Nov 15, 2008 2:01am Nov 15, 2008 2:01am
Quoting Pip Hunterr
Hi Sterling

I just wanted to say keep up there buddy. After reading some of the thread lately it seems that some of those out there dont really appreciate what you have done with this system. Or what it was really designed for.

For those who do not know. Keep this in mind

This system was designed for a new trader, at least new to Forex. To be able to have a system that will mechanicaly make money while you learn the markets. What will make you the most money is to learn those markets. I say markets because there are alot of other markets...
Hey man if your still around give me a ring 1(269)929-6414 it 3AM here ill be up for a little bit longer. And thank you for the kind words, its much appreciated!

-Sterling
Founder of Day Trading Forex Live
  • #1,138
  • Nov 15, 2008 5:33am Nov 15, 2008 5:33am
Quoting Corre
sorry sterling, can you check if the EA i'm linkin in this post follows exactly your rules?

because i tested it from 1/1/2008 to 1/11/08 and it provided 3.66 pips gain...

322 operations about 10000 pips gain and exactly the same of loss...

if your system works differently please let us know *_*
Corre

I have had a quick look and one immediate problem is that the EA does not deal with the Friday close and Sunday open. The EA that I have written doesn't have that feature yet but it will do shortly and it hasn'#t yet been verified as working exactly to Sterling's rules - that is in progress. I have tested both from 1st Jan to 31st Oct 2008. Yours gives a loss of 502.7 pips, mine is showing 1513 profit (This will change when I have modified for the weekend shutdown). So the two EAs work differently. It is easier for me to verify my own EA rather than trying to unravel the one that you have posted. Once mine has been confirmed as working correctly, I will release it on the forum.
  • #1,139
  • Nov 15, 2008 8:06am Nov 15, 2008 8:06am
Quoting stersuhr
Your welcome to trade the rules as you like. That being said this is a system that has proven itself and averages over +500 pips a month. If you trade live I doubt you average +500 pips a month or more. So my questions is why not just trade it the way it is and then while your doing that and making money backtest new ideas like what you had. This will allow you to see if the way you propose is more profitable or not. Hope this helps.

-Sterling

Hi Stersuhr,

Thanks for your response. I will stick to the rules. That is the discipline required of a forex trader who wants to be successful. Many Thanks.
  • #1,140
  • Nov 15, 2008 12:16pm Nov 15, 2008 12:16pm
Quoting gregoga
Hi Stersuhr,

Thanks for your response. I will stick to the rules. That is the discipline required of a forex trader who wants to be successful. Many Thanks.
No problem. Hope to see you in the room more. If you ever have a question feel free to ask, theres a lot of people in here that would be more than happy to help you out.

-Sterling
Founder of Day Trading Forex Live
2 traders viewing now