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4H 5EMA System

  • #1,181
  • Nov 16, 2008 10:53pm Nov 16, 2008 10:53pm
Quoting tcmm
Asian Markets doing good now may help that reversal bar on GBP/USD.
Also guys go to www.bloomberg.com (http://www.bloomberg.com) then on that page you have breaking news on the left and the stock markets on the right for Asia, America and Europe when they are open it gives you a view of whats happening and can give you a picture of what currencies can do.
My Email For Help: [email protected]
  • #1,182
  • Nov 16, 2008 11:35pm Nov 16, 2008 11:35pm
Quoting stersuhr
Let talk about the rules as they apply to the current case. We entered a buy so if we get stopped out and it triggers the sell then we enter are stop loss for the sell 5 pips above the highest high while in the buy trade. If we would have been in a sell and the stop got triggered on that thus putting us in a sell we would put the stop on the buy 5 pips below the lowest point it went to when we were in the sell. So the stop loss on the sell if it gets triggered is 1.4964 I hope this makes sense.

-Sterling
So the reversal stoploss goes to the highest high SINCE the buy trade was triggered- well how about that! I thought it just went to the high point of the reversal bar that triggered the initial buy trade and stayed put until a new proper signal the other way- Just when I think I have every situation down something new pops up haha-

If you update the rules I think you should update the reversal order stoploss one with the situation in "Initial stop placement, Rule 3",
make it say something like,

"Your stoploss for the reversal order should be placed 5 pips above the high of the initial reversal bar that triggered the buy trade once closed, as new bars are formed from then on and if with a higher high, the reversal order stoploss should then be moved above the most recent candle with highest high until proper setup bar is formed in the opposite direction."

Also it would be good to put one in for the 50% rule to close out immediately if trade has already been +150 in profit but has already retraced by more than 50% when you find you have a failed setup bar.
Only if you think it is necessary of course, but I think it would make things a little easier and more explained for some.
  • #1,183
  • Nov 17, 2008 12:30am Nov 17, 2008 12:30am
Quoting viperzz
So the reversal stoploss goes to the highest high SINCE the buy trade was triggered- well how about that! I thought it just went to the high point of the reversal bar that triggered the initial buy trade and stayed put until a new proper signal the other way- Just when I think I have every situation down something new pops up haha-

If you update the rules I think you should update the reversal order stoploss one with the situation in "Initial stop placement, Rule 3",
make it say something like,

"Your stoploss for the reversal order should...
I literally quoted your post and put it in the rules, so thank you! Ill work on the 50% rule later. Thanks again!

-Sterling
Founder of Day Trading Forex Live
  • #1,184
  • Nov 17, 2008 1:01am Nov 17, 2008 1:01am
No problems
  • #1,185
  • Nov 17, 2008 1:18am Nov 17, 2008 1:18am
Where can the complete revised / reworded rule set be viewed ?
Those that say do not know. Those that know do not say.
  • #1,186
  • Nov 17, 2008 1:58am Nov 17, 2008 1:58am
Quoting ohenry
Where can the complete revised / reworded rule set be viewed ?
The first post is the most up to date rules. The rules will never change they might be re-worded from time to time as people ask me to.

-Sterling
Founder of Day Trading Forex Live
  • #1,187
  • Nov 17, 2008 5:31am Nov 17, 2008 5:31am
Hi

I just read the thread .. would you pls look for the chart and correct me ...
many thx

ammar
Attached Image (click to enlarge)
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  • #1,188
  • Nov 17, 2008 5:37am Nov 17, 2008 5:37am
MACD 5 13 1?
  • #1,189
  • Nov 17, 2008 6:04am Nov 17, 2008 6:04am
Quoting ammar2000a70
Hi

I just read the thread .. would you pls look for the chart and correct me ...
many thx

ammar
If you were to open a position for the first time your setup bar would be the one before your arrow, right on the period separator and your entry bar as shown; if you had a position on Friday and closed it as per rules other criteria apply as set out on the first page.

Also your chart bars (FXDD) start one hour earlier than we use here in this thread so we may have different entries.
Regards
  • #1,190
  • Nov 17, 2008 7:48am Nov 17, 2008 7:48am
Quoting Corre
MACD 5 13 1?
yes.. I am working with 4H macd startegy by phillip
  • #1,191
  • Nov 17, 2008 7:50am Nov 17, 2008 7:50am
Quoting howard
If you were to open a position for the first time your setup bar would be the one before your arrow, right on the period separator and your entry bar as shown; if you had a position on Friday and closed it as per rules other criteria apply as set out on the first page.

Also your chart bars (FXDD) start one hour earlier than we use here in this thread so we may have different entries.
Many thanks ... and regarding to FXDD chart .. did I need to use your server time or the concept is enough and can aply on any server time ?
  • #1,192
  • Nov 17, 2008 8:21am Nov 17, 2008 8:21am
Quoting ammar2000a70
Many thanks ... and regarding to FXDD chart .. did I need to use your server time or the concept is enough and can aply on any server time ?
Concept is the same and in the long run the result might be the same as well but if you want to be in harmony with others in this thread use a server where 4hr bars start at 3, 7, 11 GMT, FXDD servers start the 4hr bars at 2, 6, 10 GMT
Regards
  • #1,193
  • Edited 12:53pm Nov 17, 2008 10:22am | Edited 12:53pm
Stersuhr

This is a great work man, i have read the thread from start to end and i have carefully practice and back tested it.

dear all please if you need any system that is simple but MAKE MONEY I RECOMMEND THIS.


DONT BE IN A HURRY PLEASE READ AND TRY TO TEST!!,
SEE THE ATTACHED FOR TODAY ALONE

Olamicash
Attached Image (click to enlarge)
Click to Enlarge Name: trade.JPG Size: 112 KB
  • #1,194
  • Nov 17, 2008 11:38am Nov 17, 2008 11:38am
Quoting olamicash
Stersuhr

This is a great work man, i have read the thread from start to end and i have carefully practice and back tested it.

dear all please if you need any system that is simple but MAKE MONEY I RECOMMEND THIS.


DONT BE IN A HURRY PLEASE READ AND TRY TO TEST!!,
SEE THE ATTACHED FOR TODAY ALONE

Olamicash
Thanks for the kinda words, glad to have ya around.

-Sterling
Founder of Day Trading Forex Live
  • #1,195
  • Nov 17, 2008 11:49am Nov 17, 2008 11:49am
Quoting olamicash
Stersuhr

This is a great work man, i have read the thread from start to end and i have carefully practice and back tested it.

dear all please if you need any system that is simple but MAKE MONEY I RECOMMEND THIS.


DONT BE IN A HURRY PLEASE READ AND TRY TO TEST!!,
SEE THE ATTACHED FOR TODAY ALONE

Olamicash
Olamicash,

Even though, by looking at your bars, you seem to have different opening bar times, it seems to me your trades from today aren't by the system rules, because of the levels:

Even if you entered today (like if you had a fresh new setup bar), by the break of the first bar, that trade should still be in place, because you were never stopped, and hadn't a reverse sign.
If the entrance wasn't for it, in that case I don't get that, either.
  • #1,196
  • Nov 17, 2008 12:24pm Nov 17, 2008 12:24pm
Quoting tonirai
Olamicash,

Even though, by looking at your bars, you seem to have different opening bar times, it seems to me your trades from today aren't by the system rules, because of the levels:

Even if you entered today (like if you had a fresh new setup bar), by the break of the first bar, that trade should still be in place, because you were never stopped, and hadn't a reverse sign.
If the entrance wasn't for it, in that case I don't get that, either.
Thanks Tonirai

if you look at the attached very well i use 4 hrs time frame, sorry i did not do it real time I SHOULD HAVE POSTED IT WHEN I MADE THE ENTRY. but what i can tell you is that the candle AFTER my reverse candle, surpose to be the entry point if it breaks the candle by 5 pips correct? and stop loos at the opening of the reverse candle, i missed that , and when i checked the charts and still see the opportunity i entered it based on the following:
1 if i have entered the trade initially i would still be in that trade at that time
2 the next candle (mark ith green arrow) never hit the upper 5EMA so i can still wait for the next green bar to break the candle again and i follow it simple!.

I dont know if am wrong but am always lurcky!!

Anyway, i am confirming to you that , this is a great ssystem and the rules is still apply for that trade.

Please all kindly let me know.

Thanks
Attached Image (click to enlarge)
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  • #1,197
  • Nov 17, 2008 12:39pm Nov 17, 2008 12:39pm
Olamicash,

I know it's a great system
I was just making sure you understand the rules, because you posted your statement along with the chart (like a prove of the efficiency of the system), but I saw the values didn't match with the rules...

But, even with a late entry, by the rules you shouldn't have already closed the trade... that long is still running.

My intervention was just a "heads up" to the wrong values, because we don't want people who are still learning the system to be confused, do we?

Anyway, if you've got the rules in your head, that good.
  • #1,198
  • Edited 1:02pm Nov 17, 2008 12:58pm | Edited 1:02pm
Quoting tonirai
Olamicash,

I know it's a great system
I was just making sure you understand the rules, because you posted your statement along with the chart (like a prove of the efficiency of the system), but I saw the values didn't match with the rules...

But, even with a late entry, by the rules you shouldn't have already closed the trade... that long is still running.

My intervention was just a "heads up" to the wrong values, because we don't want people who are still learning the system to be confused, do we?

Anyway, if you've got the rules...
Thanks friend, i really appreciate that, am sorry i did i do not try to do that it was an error and i have removed the statements.

I like the quick response. yes i can see the trade is still in motion and very well, i set a target and it was HIT, that the reason i was stop and i was not there to monitor the trade, just got back now. Thanks once again and happy pipping

Please to New GUYs read the Rules and follow it to letter and be 99% PATIENTs at the end is the green pips that matters


thanks
and have a great trae
  • #1,199
  • Nov 17, 2008 1:19pm Nov 17, 2008 1:19pm
Quote
The market gapped down but not enough to stop us out, so we at open should have re-entered the buy and have are stop loss at 1.4552 We should also have a sell stop order at the same price. Let me know if you dont understand this.

-Sterling
Well... i was looking for a fresh entry yesterday and i have entered after gap. The stop loss for me is .4655 like him. Must i put my stop loss in 4552?
My other question is... we have now candles touching high emas, if they are under ema by more of 5pips they can be "setup" bars but we must to wait if there is a reversal to put a stop loss in previous bar no?
Final question.. we have more of 150 pips of profit, we dont apply the 50% rule in this case because we dont have a reversal bar failed right?

thanks for advice.
  • #1,200
  • Nov 17, 2008 1:30pm Nov 17, 2008 1:30pm
Quoting zapmx
Well... i was looking for a fresh entry yesterday and i have entered after gap. The stop loss for me is .4655 like him. Must i put my stop loss in 4552?
My other question is... we have now candles touching high emas, if they are under ema by more of 5pips they can be "setup" bars but we must to wait if there is a reversal to put a stop loss in previous bar no?
Final question.. we have more of 150 pips of profit, we dont apply the 50% rule in this case because we dont have a reversal bar failed right?

thanks for advice.
At the moment stop loss is at 1.4976 for the long trade.
I think you should read the rules on page 1 a few times
Regards
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