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4H 5EMA System

  • #1,501
  • Edited 4:12pm Nov 24, 2008 9:36am | Edited 4:12pm
Hi guys.
I read thread and re read any place and now I'm in half off , I think I get it , but I want read all thread , in weekend I make some EA and testing them on historical data , and on mine opinion it's work good , but I don't sure . I am opened account on Alpari US and run it and will test with live data on Demo. I want somebody test it and say our opinion about entry and exit. It run on 4H , but can be run on all TF , just use one when it activate.
One more time thanks stersuhr for sharing ur system and help.
thanks
goog luck
pit
edit please see update
Attached File(s)
File Type: ex4 4H5emaEA1.ex4   19 KB | 337 downloads
  • #1,502
  • Nov 24, 2008 9:42am Nov 24, 2008 9:42am
Quoting tonirai
Resuming the situation:
We started the week entering long. That first bar was a setup bar for a short;
Second bar made the same high and became the new setup bar;
Third bar triggered the short and then made a new high, stopping us and leaving us out of trades (unfortunately, loosing that leg up);
Fourth bar (last closed) is our actual setup bar for a short.
Its really sad when the creator of the thread is wrong lol. As ive said before im not live this month, and therefore tend to just take quick glaces at the chart. I took the month off. Thats no excuse tho. Thanks toni ill fix my last post.

-Sterling
Founder of Day Trading Forex Live
  • #1,503
  • Nov 24, 2008 9:46am Nov 24, 2008 9:46am
Quoting CitiTrade
Yes, last closed (33 minutes ago) I setup a short at 1.4941 with SL at 1.5086, yes?
1.4974 was the stop for the short. We are flat right now.

-Sterling
Founder of Day Trading Forex Live
  • #1,504
  • Nov 24, 2008 9:49am Nov 24, 2008 9:49am
Quoting stersuhr
Its really sad when the creator of the thread is wrong lol.
-Sterling
Even so I was looking back to see if I was wrong on this, as I'm not trading it either... will be going to work soon, so I'm out.

Will catch up with you guys later.

Edit:
CitiTrade, for the current setup bar, you're right.
  • #1,505
  • Nov 24, 2008 9:53am Nov 24, 2008 9:53am
Can I just clarify what happened on Alapri UK today. We had two short set up bars each with an identical highs @ ..66; so I took the most recent to be the valid one with a short entry @ 1.4855 (set up bar low -5). This was triggered by a pip to go short which was then stopped out @ the high of the bar + 8 ( spread + 5) @ 1.4974. Because the short reversal bar closed above the the set up bar stop we do not reverse to go long, but wait for the next set up bar to go short which we now have. Is that correct?

Thanks again for the great feedback!

Peter.
  • #1,506
  • Nov 24, 2008 10:05am Nov 24, 2008 10:05am
Quoting pitpiter
Hi guys.
I read thread and re read any place and now I'm in half off , I think I get it , but I want read all thread , in weekend I make some EA and testing them on historical data , and on mine opinion it's work good , but I don't sure . I am opened account on Alpari US and run it and will test with live data on Demo. I want somebody test it and say our opinion about entry and exit. It run on 4H , but can be run on all TF , just use one when it activate.
One more time thanks stersuhr for sharing ur system and help.
thanks
goog luck
pit

Anyone that knows the system wanna test this for me? Thanks

-Sterling
Founder of Day Trading Forex Live
  • #1,507
  • Nov 24, 2008 10:10am Nov 24, 2008 10:10am
Quoting petersurrey
Can I just clarify what happened on Alapri UK today. We had two short set up bars each with an identical highs @ ..66; so I took the most recent to be the valid one with a short entry @ 1.4855 (set up bar low -5). This was triggered by a pip to go short which was then stopped out @ the high of the bar + 8 ( spread + 5) @ 1.4974. Because the short reversal bar closed above the the set up bar stop we do not reverse to go long, but wait for the next set up bar to go short which we now have. Is that correct?

Thanks again for the great feedback!

Peter....
You got it.

-Sterling
Founder of Day Trading Forex Live
  • #1,508
  • Nov 24, 2008 10:31am Nov 24, 2008 10:31am
Quoting stersuhr
Anyone that knows the system wanna test this for me? Thanks

-Sterling
I've got it set up on the 4 hour and will report back One immediate comment is that the entry appears to be 5 pips past recent low high with no allowance for the spread?..
  • #1,509
  • Nov 24, 2008 11:17am Nov 24, 2008 11:17am
Quoting petersurrey
I've got it set up on the 4 hour and will report back One immediate comment is that the entry appears to be 5 pips past recent low high with no allowance for the spread?..
I would recommend running it on the 15M or a smaller timeframe. That way you can see many trades in a day instead of only 20-30 in a month. Also Ill need a screen shot I didnt understand the post.

-Sterling
Founder of Day Trading Forex Live
  • #1,510
  • Nov 24, 2008 11:50am Nov 24, 2008 11:50am
I trade with the secretnewsweapon for spike trading and I learned a lot about trading from the forexdiamonds room. Im no longer a member of the diamonds room and just have the secretnewsweapon. I've always been a supporter of felix (forexbastards.com/forexpeacearmy.com) and his services. So when I saw his new service called fxnewswiz I thought what the hell Ill give it a try maybe Ill learn something and I have. I dont really subscribe to services for there signals, rather to learn something I didnt already know. Anyway I digress. So in sept he made +400 pips and then in Oct he made +1400 or so and I thought Id definatly learn something from him. This month hes up around +400 pips...well he WAS up +400 pips. To start on Thursday when I started I made +80 pips and the on Friday I made something like +130 pips. I also learned something about the market which is worth more to me than any pip count.

Anyway today he called a short on the E/U at 1.2677 at 6AM or so and had about a 60 pip stop on it. Well he has "mental" stops, not hard stops. So it got to his "Stop" and he said I want to extend it another 60 pips and not only that add to the position when it goes against us even more. Long story shorter than I could make it...there down 120 pips with a double position, so there down more like 240 pips. The reason I talk about this is because its a great lesson one I seen coming and exited with a -60 pip loss. Glad I did. You could almost feel threw text him refusing to except a loss. Hes determined not to take a loss at any risk. I kept ask, "so are you going to add again at the 3rd "stop loss?" I never got a reply When you enter a trade have a plan and trade the plan. Dont impervise when the trade goes against you. 9 times out of 10 you will lose. Now dont get me wrong I really feel like he is a good trader and has a lot to offer people, and if you were to follow his trades you would make good money, but this is a great lesson I wanted to pass on. It only takes one trade to wipe months of hard work out. Then your on tilt and will make more bad decisions.

Every good trader accepts losses for what they are. They admit that either they or the system they use was wrong. But what makes them good is they dont make a bad trade worse. Now he could pull out of this trade and get lucky buy what if he dosent. I guarantee he wiped out a few peoples accounts and that makes me sick to my stomach. Please people learn from this!!!! When your a great trader down the road this lesson will make more sense to you, if you already are a profitable trader you already know what I mean.

Another point, this system teaches you how to be a diciplined trader. You have hard rules and you follow them to a T no matter what you think. It makes you accept your losses and learn a VERY important lesson that will help you weather you trade this system for a long time or move on. It teaches proper MM which is equally important...I would say more important. Ok im done rambeling. If I saved one persons account by this post then it was worth my time.

-Sterling
Founder of Day Trading Forex Live
  • #1,511
  • Nov 24, 2008 12:14pm Nov 24, 2008 12:14pm
Quoting stersuhr
....If I saved one persons account by this post then it was worth my time.

-Sterling
The sentiment is greatly appreciated. Many traders get cocky after a string of successful trades (including yours truly) at some point. So a reminder like the one you've posted is certainly in order. That's why I have opted to try something more mechanic, like your system. By the way, I used to write/program expert systems, and your system here lends itself to be a perfect AI application. Maybe when I have it down, I will make an interactive program out of it. Thanks
  • #1,512
  • Nov 24, 2008 12:18pm Nov 24, 2008 12:18pm
Quoting CitiTrade
The sentiment is greatly appreciated. Many traders get cocky after a string of successful trades (including yours truly) at some point. So a reminder like the one you've posted is certainly in order. That's why I have opted to try something more mechanic, like your system. By the way, I used to write/program expert systems, and your system here lends itself to be a perfect AI application. Maybe when I have it down, I will make an interactive program out of it. Thanks
Is a interactive program and EA? Sorry EA's and programming is not my thing.

-Sterling
Founder of Day Trading Forex Live
  • #1,513
  • Nov 24, 2008 12:18pm Nov 24, 2008 12:18pm
Hi Sterling,

Thanks for all your selfless sharing, great effort and time. I really appreciate it. I have read many other threads where the thread leader either doesnt answer much of the questions or answers them very half-heartedly so its easy to be disheartened. Still learning your wonderful system and will be looking forward to the new one. Thank you very much!
  • #1,514
  • Nov 24, 2008 12:25pm Nov 24, 2008 12:25pm
Quoting piptrees
Hi Sterling,

Thanks for all your selfless sharing, great effort and time. I really appreciate it. I have read many other threads where the thread leader either doesnt answer much of the questions or answers them very half-heartedly so its easy to be disheartened. Still learning your wonderful system and will be looking forward to the new one. Thank you very much!
The thing is I've been there guys. Ive lost thouslands of dollars in the market. We lost are house, my dad lost his truck all so we could keep trading. Now I dont recommend that to anyone! But when you made the choice to either put money in the market or pay the electric bill and choice the market you gain a new perseption on things. I went threw hell to be where I am now. We lost everything. Am I happy I did it? I wouldnt go back and change a thing. If we hadent we would still have nothing and have no hope for the future. Now I trade for a living make great money and support my parents. The reason I do what I do is I know there are so many people out there that have a small amount to start trading with and if they dont find a system like this they will loose everything. Im drivin by what I went threw and if someone shows me some effort Ill make you a succesful trader. Thats why im here and thats why ill continue to be here.

-Sterling
Founder of Day Trading Forex Live
  • #1,515
  • Nov 24, 2008 12:27pm Nov 24, 2008 12:27pm
Quoting stersuhr
Is a interactive program and EA? Sorry EA's and programming is not my thing.

-Sterling
I don't like EAs myself. What I am talking about is an idependent application (an executable really) which one can run on their PC with an interactive window where he/she can enter the current situation's parameters (High, Low, previous bar, EMA values, etc. etc.) and the system will tell you what you should do. An automated "Stersuhr" if you will It is just an idea for now. If you don't like it, then just forget about it. I may just automate your rules for my own use so they're easier to trace through a decision tree or something.
  • #1,516
  • Nov 24, 2008 12:27pm Nov 24, 2008 12:27pm
Quoting pitpiter
Hi guys.
I read thread and re read any place and now I'm in half off , I think I get it , but I want read all thread , in weekend I make some EA and testing them on historical data , and on mine opinion it's work good , but I don't sure . I am opened account on Alpari US and run it and will test with live data on Demo. I want somebody test it and say our opinion about entry and exit. It run on 4H , but can be run on all TF , just use one when it activate.
One more time thanks stersuhr for sharing ur system and help.
thanks
goog luck
pit
sorry about this one , I just find bug , and I will up date for hour
pi
  • #1,517
  • Nov 24, 2008 12:40pm Nov 24, 2008 12:40pm
Quoting CitiTrade
I don't like EAs myself. What I am talking about is an idependent application (an executable really) which one can run on their PC with an interactive window where he/she can enter the current situation's parameters (High, Low, previous bar, EMA values, etc. etc.) and the system will tell you what you should do. An automated "Stersuhr" if you will It is just an idea for now. If you don't like it, then just forget about it. I may just automate your rules for my own use so they're easier to trace through a decision tree or something.
Oh thats kinda cool. I never knew you could do that type of programming.

-Sterling
Founder of Day Trading Forex Live
  • #1,518
  • Edited Nov 25, 2008 3:13am Nov 24, 2008 1:01pm | Edited Nov 25, 2008 3:13am
Quoting pitpiter
Hi guys.
I read thread and re read any place and now I'm in half off , I think I get it , but I want read all thread , in weekend I make some EA and testing them on historical data , and on mine opinion it's work good , but I don't sure . I am opened account on Alpari US and run it and will test with live data on Demo. I want somebody test it and say our opinion about entry and exit. It run on 4H , but can be run on all TF , just use one when it activate.
One more time thanks stersuhr for sharing ur system and help.
thanks
goog luck
pit
one more time sorry about that , I send wrong function
please test this one
good luck
edit :
sorry , I find error , I will test EA for this week on real time data , after that send new version
Attached File(s)
File Type: ex4 4H5emaEA1.ex4   20 KB | 450 downloads
  • #1,519
  • Nov 24, 2008 1:05pm Nov 24, 2008 1:05pm
The last 4H bar just finished formation (from 10am to 2pm EST). Since it wasn't a reversal bar, we will evaluate it for a setup bar, therefore moved the sell stop to 1.5020 (this bar's low of 1.5025 - 5) with an SL at 1.5184 which is the bar's high plus 8 (1.5176 +8). Please confirm, anyone?
  • #1,520
  • Nov 24, 2008 1:09pm Nov 24, 2008 1:09pm
Quoting CitiTrade
The last 4H bar just finished formation (from 10am to 2pm EST). Since it wasn't a reversal bar, we will evaluate it for a setup bar, therefore moved the sell stop to 1.5020 (this bar's low of 1.5025 - 5) with an SL at 1.5184 which is the bar's high plus 8 (1.5176 +8). Please confirm, anyone?
as for me it's reversal bar now in , and I put sellstop with price 15020 and stoploss 15181
please confirm somebody am I right?
pit
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