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4H 5EMA System

  • #1,201
  • Nov 17, 2008 1:46pm Nov 17, 2008 1:46pm
Quoting howard
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
Thanks, i have read it several times but for me wasnt clear if i must set stop loss after a reversal bar was formed when i am watching a proper "setup" bar touching emas. You have answered my doubt in fact
Thanks
  • #1,202
  • Nov 17, 2008 1:49pm Nov 17, 2008 1:49pm
Quoting zapmx
Thanks, i have read it several times but for me wasnt clear if i must set stop loss after a reversal bar was formed when i am watching a proper "setup" bar touching emas. You have answered my doubt in fact
Thanks
Edit: And the principal reason i need extensive details must be because english is not my native language. heh
Thanks guys
  • #1,203
  • Nov 17, 2008 2:01pm Nov 17, 2008 2:01pm
zapmx,
Yes, please take some time reading the rules again, while following the thread, as we keep posting current situation. It will be easier to understand like that

howard,
My current stop for the long is at 1.4972 (Alpari UK) - the low of the last closed bar is 1.4977.

For all,
We had the first setup bar, since we are long, two bars before the current;
Price didn't fall under it (where at the time we had the stoploss and sell stop orders) and made an higher high;

Because of it, that bar is our new setup bar.

I don't want to post a chart, because my long is open since last week (because I wasn't home at the market's close to close it), so entry point isn't the correct one...
So if someone has closed and re-openned it at the market's openning, please post a chart of the current situation.
  • #1,204
  • Nov 17, 2008 3:07pm Nov 17, 2008 3:07pm
OK, the situation is the following.
Ignore the buy line... instead we should have an entrance at the market openning, somewhere around the red line.
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  • #1,205
  • Nov 17, 2008 4:53pm Nov 17, 2008 4:53pm
Quoting tonirai
OK, the situation is the following.
Ignore the buy line... instead we should have an entrance at the market openning, somewhere around the red line.
we should now be short from 1.4972

-Sterling
Founder of Day Trading Forex Live
  • #1,206
  • Nov 17, 2008 5:03pm Nov 17, 2008 5:03pm
Quoting stersuhr
we should now be short from 1.4972

-Sterling


Sterling, could you maybe post the pip count for the month?
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  • #1,207
  • Nov 17, 2008 6:24pm Nov 17, 2008 6:24pm
Hey Sterling,
So we are now short and now there is a stop above the entry bar and is that a long order as well as a stop is that correct.

Thanks for all your time.
  • #1,208
  • Nov 17, 2008 6:42pm Nov 17, 2008 6:42pm
month count till now

GBP +930
JPY -950
EUR -250
  • #1,209
  • Nov 17, 2008 7:33pm Nov 17, 2008 7:33pm
At the moment-
( I include 3 pips spread in everything so includes + 8 pips on everything)

Short at 1.4969
Stop loss on short is above highest high (setup) at 1.5090

Reversal order Buy stop is at the same spot as SL on short trade which is 1.5090.
The SL on this reversal has been moved to the lowest low since we entered the trade, so that is currently 1.4941
When current bar closes it has made a lower low so the SL for the reversal will be moved under it, pending it doesn't hit the buy reverse in the mean time.
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  • #1,210
  • Nov 17, 2008 8:23pm Nov 17, 2008 8:23pm
Quoting sutters
Hey Sterling,
So we are now short and now there is a stop above the entry bar and is that a long order as well as a stop is that correct.

Thanks for all your time.

That is correct 1.4972 is your trigger for you sell stop and you will have a stop loss and a buy stop in at 1.5090
  • #1,211
  • Nov 17, 2008 9:13pm Nov 17, 2008 9:13pm
Any update on the EA? Thanks again to Sterling and his cousin for all the work they've put into this
  • #1,212
  • Nov 17, 2008 9:26pm Nov 17, 2008 9:26pm
Quoting ziko123
month count till now

GBP +930
JPY -950
EUR -250
I just have one request, and that is that you dont post other pairs pip count in this room. They have nothing to do with this thread and dont give this system a fair evaluation, and also turn people away. This system is only to be traded on the G/U if you want to get good results. Thank you for understanding that. As far as the pip count for the G/U its more like +860 ish. Ill have the exact count when I get home tonight and do the daily chart.

-Sterling
Founder of Day Trading Forex Live
  • #1,213
  • Nov 17, 2008 10:34pm Nov 17, 2008 10:34pm
Quoting stersuhr
I just have one request, and that is that you dont post other pairs pip count in this room. They have nothing to do with this thread and dont give this system a fair evaluation, and also turn people away. This system is only to be traded on the G/U if you want to get good results. Thank you for understanding that. As far as the pip count for the G/U its more like +860 ish. Ill have the exact count when I get home tonight and do the daily chart.

-Sterling
then you should change topic title to be "4H 5EMA GBPUSD Only system",
also you keep saying the system is based on support and resistence and price action and I think these items apply to any currency and any market and not just GBPUSD
  • #1,214
  • Nov 17, 2008 11:32pm Nov 17, 2008 11:32pm
Hi everybody

Would you pls correct me .. is it true one ?

ammar
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  • #1,215
  • Nov 17, 2008 11:33pm Nov 17, 2008 11:33pm
Quoting ziko123
then you should change topic title to be "4H 5EMA GBPUSD Only system",
also you keep saying the system is based on support and resistence and price action and I think these items apply to any currency and any market and not just GBPUSD
Dude your welcome to post here and thats cool. I welcome all opinions including yours, therefore I will change the title. That being said you would think some one who gives you a system as good as this, and asks one simple request you would just do it. I guess not. I do everything I can to help everyone here including you. I spend countless hours posting charts, answering questions, and making this better. I will give anyone my personal cell number and/or email to help them. That being said if I ask one thing from someone I FULLY EXPECT them to do it! It wasent a hard request, in fact it was very simple. I dont want any arguments in here. This thread hasent had one and I dont plan on ever having one here. Thats what happens in all other threads, not mine.

Having said that this thread is for the G/U and not other pairs. If you want me to answer questions about other pairs no problem, feel free to post charts of other pairs and ill answer all your questions. Posting monthly reports on these other pairs is misleading to the system and can make someone looking for a profitable system move on and miss out on a system that does make money. Anyone following this thread knows this system is for the G/U. I've been challenged by one person in over a month of having posted the challenge. You know why? Because this system is if not the best system on FF, top 3 guaranteed! As far as a system that is completely mechanical and allows you to take every trade ill be very suprised if this system EVER gets beaten. Thats why I eased up on the rules to the challenge and will pretty much take ANY system for the challenge.

You also said this system relies on support/resistance for all of its rules. It does. Why dosent it work as well on other pairs? Because it was "optimized" for the G/U. You tell me any major pair and I will optimize this system to be very profitable on that pair. I hope you understand that. Please dont take this thread as me being pissed at you, cuz im not. I have no problem with you, just answering and clearing up your questions and my thoughts. Thanks for understanding.

-Sterling
Founder of Day Trading Forex Live
  • #1,216
  • Nov 17, 2008 11:38pm Nov 17, 2008 11:38pm
Quoting ammar2000a70
Hi everybody

Would you pls correct me .. is it true one ?

ammar
You got it right. You should also have your buy stop order in the same location.

-Sterling
Founder of Day Trading Forex Live
  • #1,217
  • Nov 18, 2008 12:10am Nov 18, 2008 12:10am
Sterling, I am a big fan of this system and this thread. I would like us to be able to add more pairs though...

off the top of your head, if you did let's say, AUD/USD, what modifications would you make? different EMA's?

if we can, as a group, let's optimize another pair that is non-correlated to the pound. why limit ourselves to one pair if the same principles apply?

if we do this, what variables should we modify?
  • #1,218
  • Nov 18, 2008 12:21am Nov 18, 2008 12:21am
Quoting Repipula
Sterling, I am a big fan of this system and this thread. I would like us to be able to add more pairs though...

off the top of your head, if you did let's say, AUD/USD, what modifications would you make? different EMA's?

if we can, as a group, let's optimize another pair that is non-correlated to the pound. why limit ourselves to one pair if the same principles apply?

if we do this, what variables should we modify?
Finding another pair and optimizing it just takes time, a lot of time! Its something I welcome if someone can work on another pair and optimize it. As far as my time I dont really have much. In a few months I will probably start working on another pair. Until then Im just going to trade the G/U

-Sterling
Founder of Day Trading Forex Live
  • #1,219
  • Nov 18, 2008 12:36am Nov 18, 2008 12:36am
In previous posts Sterling has made mention of volatility and volume ranges that inhibit the system on the 6 majors. Having said that, requests on additional pair diversifications should be supported by measurable data.
Those that say do not know. Those that know do not say.
  • #1,220
  • Nov 18, 2008 12:45am Nov 18, 2008 12:45am
Quoting ohenry
In previous posts Sterling has made mention of volatility and volume ranges that inhibit the system on the 6 majors. Having said that, requests on additional pair diversifications should be supported by measurable data.
Couldnt agree more. Again I will say this. If you dont make 500 pips a month on average why do you want to change a system that does? It a valid question to think about.

-Sterling
Founder of Day Trading Forex Live
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