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4H 5EMA System

  • #1,141
  • Nov 15, 2008 1:03pm Nov 15, 2008 1:03pm
Quoting stersuhr
I am testing the method right now on the 5M chart to see if it applies the rules correctly or not.

-Sterling
Hi Sterling

are you trying to say this same set of rules is applicable to the 5Min chart?

this is the point that would really get me more interested in this system, if it works on the 5M also.

because the 4HR chart is far too conservative for me, but if you can modify and test it on 5M and it is profitable, that will be da bomb

I keep my fingers crossed and waiting

thanks stershur for all the hard work and selflessness

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #1,142
  • Edited 4:26pm Nov 15, 2008 2:17pm | Edited 4:26pm
Hi If you get a Doji, is it still ok to use for a setup or reversal or not?
Also there"s a rule that if you get 2 bars after the setup bar or reversal something
changes.

Thanks
answer
My Email For Help: [email protected]
  • #1,143
  • Nov 15, 2008 2:35pm Nov 15, 2008 2:35pm
Quoting Kosomolate
Hi Sterling

are you trying to say this same set of rules is applicable to the 5Min chart?

this is the point that would really get me more interested in this system, if it works on the 5M also.

because the 4HR chart is far too conservative for me, but if you can modify and test it on 5M and it is profitable, that will be da bomb

I keep my fingers crossed and waiting

thanks stershur for all the hard work and selflessness

kos
Kosomolate, what he means is that, to fast forward test the EA, he is applying it to the 5M timeframe... so that candles will change faster and you can see a lot of situations happening.
I don't think he is even paying attention to the profit/loss rate in that timeframe (for now).
  • #1,144
  • Nov 15, 2008 6:21pm Nov 15, 2008 6:21pm
Quoting tcmm
Hi If you get a Doji, is it still ok to use for a setup or reversal or not?
Also there"s a rule that if you get 2 bars after the setup bar or reversal something
changes.

Thanks
answer
I dont pay any attention to any candlestick formation only price action. I dont understand the second question.

-Sterling
Founder of Day Trading Forex Live
  • #1,145
  • Nov 15, 2008 6:27pm Nov 15, 2008 6:27pm
Quoting tonirai
Kosomolate, what he means is that, to fast forward test the EA, he is applying it to the 5M timeframe... so that candles will change faster and you can see a lot of situations happening.
I don't think he is even paying attention to the profit/loss rate in that timeframe (for now).
Well using that EA on the 5M from about noon to the market close on Friday made me 125 pips or so. Now the market was ideal for that to work but even if it averaged 1/4th of the daily it would be awesome and would compliment using it on the 4H for sure. Its all something that we can play with and optimize once we release the EA, which will happen shortly. I will be running the EA on the 5M all next week and will report the daily pip count for the 5M chart as well as my daily 4H chart reviews. I think im also going to start putting in prices and not just which bar is which. This should clear up entries and exits for the people new to this system.

Kosomolate why do you think the 4H chart is conservative? Dont take this wrong but do you average +500 pips or more a month? If not wouldnt you rather be "conservative" and make more money? Something to ponder for sure. Whatever timeframe this makes the most on is the timeframe it should be traded on, thats just makes sense to me.

-Sterling
Founder of Day Trading Forex Live
  • #1,146
  • Edited 9:25pm Nov 15, 2008 9:03pm | Edited 9:25pm
Quoting ziko123
so the last 3, 4 trades wiped out whatever profit existed for the month

WOW, WOW... The last 3, 4 trades wiped out whatever profit... Will i am up 2000 pips in my account if that is being wiped out then i will take a wipe out ever month. please do some research and then post, if you have a question then ask and any one that follows this post is more then capable to answer it.
  • #1,147
  • Nov 16, 2008 3:09am Nov 16, 2008 3:09am
Quoting tcmm
Lets say you have a Setup bar confirmed for a long. Now your reversal bar does not hit your buy stop, but hits your stoploss. do you still have a sell stop to go short?
Can you please refrase that?
Because either you have a buy stop placed (if you're short), or a sell stop (if you're long) - you don't have both.
For example, if you're short, after a setup bar you'll have a stoploss and a buy stop placed at the same price, so price hits them both.
  • #1,148
  • Edited 8:07am Nov 16, 2008 5:17am | Edited 8:07am
Quoting tonirai
Can you please refrase that?
Because either you have a buy stop placed (if you're short), or a sell stop (if you're long) - you don't have both.
For example, if you're short, after a setup bar you'll have a stoploss and a buy stop placed at the same price, so price hits them both.
he meant that when you see a setup bar, you have to place both the buy stop and the stop loss of the same operation as well.

so if buy stop doesn't trigger and the price falls to its SL, what do we do? we reverse anyway?

the common sense would really advice it.

anyway thinking just 2 seconds on it you can't have the SL already out because the SL is the opening of the reversal candle so... if the buy stop never triggers you don't have a reversal bar to place the sl
  • #1,149
  • Nov 16, 2008 10:31am Nov 16, 2008 10:31am
Quoting Hiranya
WOW, WOW... The last 3, 4 trades wiped out whatever profit... Will i am up 2000 pips in my account if that is being wiped out then i will take a wipe out ever month. please do some research and then post, if you have a question then ask and any one that follows this post is more then capable to answer it.
gbp was up 1000 pips one point last month and ended +50!,
I'm attaching the performance of gbp,eur,jpy this month

gbp +550
eur -450
jpy -800
Attached File(s)
File Type: zip eur-jpy-gbp.zip   9 KB | 303 downloads
  • #1,150
  • Nov 16, 2008 10:48am Nov 16, 2008 10:48am
Quoting tonirai
Can you please refrase that?
Because either you have a buy stop placed (if you're short), or a sell stop (if you're long) - you don't have both.
For example, if you're short, after a setup bar you'll have a stoploss and a buy stop placed at the same price, so price hits them both.
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.

3.) Lets say you got a buy signal and price went 80 pips in your favor and then went against you and stopped you out, at which point you reversed the trade according to the rules. So where would you put your stop? Your stop would be placed 5 pips above the high from when you got in the trade. If you get stopped out of your reversal trade you do not put another reversal trade in the market.

Can any one explain the above Rules clearly. Thanks
My Email For Help: [email protected]
  • #1,151
  • Nov 16, 2008 2:02pm Nov 16, 2008 2:02pm
Sorry for bumping in.

1. This is a system that relies on very nice fundamentals of price action and market behavior. Simple stuff, easy to follow and IN THE LONG-TERM makes consistent profits ie wealth building as stated by Sterling. Once more: relies on the fundamentals of market psychology ie price action. Which will be always profitable approach!!

2. The reason why I hate EAs. They are a complete screw up. Plus it will NOT TEACH one anything about discipline, money management. That is for lazy people and not to mention the really crappy false results. So people come up with things like ended up by 50 pips. Without even eyeballing the charts.


Regards
BR
.
  • #1,152
  • Nov 16, 2008 2:10pm Nov 16, 2008 2:10pm
Hello Bullock,

I agree with you that this system is good for manual traders but you are 100% incorrect on expert advisors. Expert Advisors are excellent if they are programmed correctly as they use no emotions in trading. I know a couple of people that are traders for a couple forune 500 companies and all of their strategies are traded by robots. So, you are incorrect that expert advisors are for lazy people. Plus expert advisors are good for people that do not have time to trade while they are at work. So the next time you think expert advisors are for lazy people please refrain from generalizing.

Regards,
Jeff

Quoting bullrock
Sorry for bumping in.

1. This is a system that relies on very nice fundamentals of price action and market behavior. Simple stuff, easy to follow and IN THE LONG-TERM makes consistent profits ie wealth building as stated by Sterling. Once more: relies on the fundamentals of market psychology ie price action. Which will be always profitable approach!!

2. The reason why I hate EAs. They are a complete screw up. Plus it will NOT TEACH one anything about discipline, money management. That is for lazy people and not to mention the really crappy...
  • #1,153
  • Nov 16, 2008 2:18pm Nov 16, 2008 2:18pm
Quoting azjeff
Hello Bullock,

I agree with you that this system is good for manual traders but you are 100% incorrect on expert advisors. Expert Advisors are excellent if they are programmed correctly as they use no emotions in trading. I know a couple of people that are traders for a couple forune 500 companies and all of their strategies are traded by robots. So, you are incorrect that expert advisors are for lazy people. Plus expert advisors are good for people that do not have time to trade while they are at work. So the next time you think...
Jeff!

I did not meant to offend you and you misunderstood me.
I am a quant developer working on quant models and believe in 100% mechanical or quant trading. So that is out of the way. I totally agree with the automating bit. I agree with the highlighted bit. Just one should be vareful posting results of unverified EAs that is all. Plus Sterlings intentions were to teach and not to automate. Plus I hate when one comes up with destructive/attacking/aggressive aproaches. Constructive questions are better. EAs in Metatrader are difficult to program and requires extensive and careful testing. I do have EAs but they are all programmed in C++ and loaded in as dlls.

Thanks of listening

Regards
BR
.
  • #1,154
  • Nov 16, 2008 2:23pm Nov 16, 2008 2:23pm
Also Jeff.

I verify the results of my EAs every day... So it is hard work. Even if they EAs. I do no trust them 100% . You cannot automate the market I am afraid.

Regards
BR
.
  • #1,155
  • Nov 16, 2008 2:27pm Nov 16, 2008 2:27pm

Look Jeff.

It is really not worth to pollute this thread with this. Apologies for my comments.

Regards
BR

PS will post if I come with some improvement.
.
  • #1,156
  • Nov 16, 2008 2:31pm Nov 16, 2008 2:31pm
Bullrock,

No worries. I welcome your posts in this thread or any thread I believe you have a lot of good information to share.

Regards,
Jeff

Quoting bullrock

Look Jeff.

It is really not worth to pollute this thread with this. Apologies for my comments.

Regards
BR

PS will post if I come with some improvement.
  • #1,157
  • Nov 16, 2008 2:36pm Nov 16, 2008 2:36pm
Ok BTW.

G/U stands at on O.A.N.D.A 1.46475/1.46675
.
  • #1,158
  • Nov 16, 2008 3:35pm Nov 16, 2008 3:35pm
Quoting ziko123
gbp was up 1000 pips one point last month and ended +50!,
I'm attaching the performance of gbp,eur,jpy this month

gbp +550
eur -450
jpy -800
This system averages +500 pips or more a month on the G/U only. Quoting other pairs is not relevant to this thread at all. I only trade the G/U because over time its the only pair that seems to really work well with this system in any market. I dont really want bickering in this thread I just want facts. I hope you stay around and im sorry if my post or Hirayna's post was offensive. Please accept the appology and lets all move forward and progress.

-Sterling
Founder of Day Trading Forex Live
  • #1,159
  • Nov 16, 2008 3:38pm Nov 16, 2008 3:38pm
Quoting bullrock
Sorry for bumping in.

1. This is a system that relies on very nice fundamentals of price action and market behavior. Simple stuff, easy to follow and IN THE LONG-TERM makes consistent profits ie wealth building as stated by Sterling. Once more: relies on the fundamentals of market psychology ie price action. Which will be always profitable approach!!

2. The reason why I hate EAs. They are a complete screw up. Plus it will NOT TEACH one anything about discipline, money management. That is for lazy people and not to mention the really crappy...

Bullrock nice post and I couldnt agree more about EA's. Even when we have one I will not use it for the most part. Maybe only to test new ideas and such, but even still I feel to be the most accurate this needs to be done live. If people examine why EVERY rules is there they will see that every rule is there because of support/resistance which in affect is market psychology and that will never fail in ANY market. Good post bullrock.

-Sterling
Founder of Day Trading Forex Live
  • #1,160
  • Nov 16, 2008 3:39pm Nov 16, 2008 3:39pm
The problem with E/J an G/J their behavior is very erratic on lower timeframes. How about the 1D timeframe? I think it should work.
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