4H 5EMA System | Page 77 | 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

  • #1,521
  • Nov 24, 2008 1:14pm Nov 24, 2008 1:14pm
Quoting pitpiter
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
The one is forming now is potentially a reversal bar, yes I agree. But I put my sl at 8 pips higher not 5 (since the stop loss is really a buy).. I think
  • #1,522
  • Nov 24, 2008 1:24pm Nov 24, 2008 1:24pm
Quoting CitiTrade
The one is forming now is potentially a reversal bar, yes I agree. But I put my sl at 8 pips higher not 5 (since the stop loss is really a buy).. I think
The trades should be as follows.

sell stop - 1.5020

stop loss - 1.5184

-Sterling
Founder of Day Trading Forex Live
  • #1,523
  • Nov 24, 2008 1:29pm Nov 24, 2008 1:29pm
Quoting stersuhr
The trades should be as follows.

sell stop - 1.5020

stop loss - 1.5184

-Sterling
I think you've just saved my life. Because had I gotten this one wrong, I would have jumped off my balcony!
  • #1,524
  • Nov 24, 2008 1:33pm Nov 24, 2008 1:33pm
Quoting CitiTrade
I think you've just saved my life. Because had I gotten this one wrong, I would have jumped off my balcony!
LOL im gonna take that as a joke

-Sterling
Founder of Day Trading Forex Live
  • #1,525
  • Nov 24, 2008 1:37pm Nov 24, 2008 1:37pm
Quoting stersuhr
LOL im gonna take that as a joke

-Sterling
Actually yes it is, since I live on the first floor, so jumping off the balcony will do a little more than cause a twisted ankle... LOL
  • #1,526
  • Nov 24, 2008 1:39pm Nov 24, 2008 1:39pm
Quoting stersuhr
The trades should be as follows.

sell stop - 1.5020

stop loss - 1.5184

-Sterling
for short u also add spread?
thanks
pit
  • #1,527
  • Nov 24, 2008 1:47pm Nov 24, 2008 1:47pm
Quoting pitpiter
for short u also add spread?
thanks
pit
If I may take this one. Only on SL you add the spread for shorts. At the same time you don't add the spread on SLs for longs.
  • #1,528
  • Nov 24, 2008 1:59pm Nov 24, 2008 1:59pm
Quoting CitiTrade
If I may take this one. Only on SL you add the spread for shorts. At the same time you don't add the spread on SLs for longs.
any words
i must add spread for SL for eventual open short and don't add spread when change SL for opened long
am I correct?
thanks
pit
  • #1,529
  • Nov 24, 2008 2:01pm Nov 24, 2008 2:01pm
Quoting pitpiter
any words
i must add spread for SL for eventual open short and don't add spread when change SL for opened long
am I correct?
thanks
pit
Sounds correct, according to the rules I have read.
  • #1,530
  • Nov 24, 2008 2:05pm Nov 24, 2008 2:05pm
On any buy order whether it is entry or stop loss we add spread.

On any sell order whether it is entry or stop loss we DO NOT add spread, that is because charts plot the bid price.
Regards
  • #1,531
  • Nov 24, 2008 2:06pm Nov 24, 2008 2:06pm
This is very different for me. This is the first time I use a mechanical system, especially with 4H, which to me is a very long term trading I have been doing trading on and off for the past 15 or so years, and it was always spot trading and scalping. The longest I've held a forex position was 12 hours. Most of my trades last less than 2 minutes. I am bored out of my mind watching the H4 bars form..LOL I guess the idea is not to watch them, but like I said this is new to me. Oh well, if one wants PiPs bad enough, will do whatever it takes. So I am doing just that.
  • #1,532
  • Nov 24, 2008 2:10pm Nov 24, 2008 2:10pm
Quoting howard
On any buy order whether it is entry or stop loss we add spread.

On any sell order whether it is entry or stop loss we DO NOT add spread, that is because charts plot the bid price.
But this contradicts what Sterlings suggested earlier (hence the SL for the current open sell order now is 1.5184 which is 8 pips above the high). Also, for the buy position, check step number 1 in his post about Sep. trades. A stop loss on a buy was positioned at 1.8452 which is 5 pips below the low of the setup bar).
  • #1,533
  • Nov 24, 2008 2:11pm Nov 24, 2008 2:11pm
Quoting CitiTrade
Sounds correct, according to the rules I have read.
thanks
read and re read sometimes but can't get when we add spread for SL short which eventual be open and when not add
ok , go to the rules
good luck
pit
  • #1,534
  • Nov 24, 2008 2:24pm Nov 24, 2008 2:24pm
Quoting CitiTrade
But this contradicts what Sterlings suggested earlier (hence the SL for the current open sell order now is 1.5184 which is 8 pips above the high). Also, for the buy position, check step number 1 in his post about Sep. trades. A stop loss on a buy was positioned at 1.8452 which is 5 pips below the low of the setup bar).
Stop loss for a sell position is a BUY order hence 5 pips +spread above the high.

Stop loss for a buy position is a SELL order hence 5 pips below the low.
Regards
  • #1,535
  • Nov 24, 2008 3:07pm Nov 24, 2008 3:07pm
Regarding #1510...Felix is a scam.... he has taken hundreds of people for thousands... there are many references to this fact and the trustworthiness of his reviews all over the Web.. Everyone has to make their own decisions on who they trust in forex so don't let me influence anyone otherwise... check out yourself. Just a heads up.
  • #1,536
  • Nov 24, 2008 3:18pm Nov 24, 2008 3:18pm
Quoting Pipsnagger
Regarding #1510.... there are many references to this fact and the trustworthiness of his reviews all over the Web.. ... check out yourself. Just a heads up.
I really don't know anything about this Felix, but I wanted to interject regarding the seemingly independent reviews one can find online. The fact is the majority of reviews you find on blogs, forums, etc. are in fact paid writing. I see 100s and 100s of ads for writers wanted for blog to write about products, websites, and even wikipedia entires which are meant to promote a certain website. They pay about 3 dollars per review written in their favor, and they give you a list of 50+ blog sites and forums and ask you to sound independent! This is a booming business, so beware! I have seen tons of ads about forex sites wanting bloggers to write favorably about them in return for money. They tell you what to write and where to write it.
  • #1,537
  • Nov 24, 2008 4:12pm Nov 24, 2008 4:12pm
Quoting howard
On any buy order whether it is entry or stop loss we add spread.

On any sell order whether it is entry or stop loss we DO NOT add spread, that is because charts plot the bid price.
follow Howard on this one guys hes right. Spread dosent matter when you sell because because most charts are on the bid as when you sell your selling at the bid and therefor dont have to account for spread. Weather you understand it or not just know that any buy order weather its a stop or a entry is 5 pips + spread and any sell weather its a stop loss or an entry is just 5 pips.

-Sterling
Founder of Day Trading Forex Live
  • #1,538
  • Nov 24, 2008 4:17pm Nov 24, 2008 4:17pm
Quoting Pipsnagger
Regarding #1510...Felix is a scam.... he has taken hundreds of people for thousands... there are many references to this fact and the trustworthiness of his reviews all over the Web.. Everyone has to make their own decisions on who they trust in forex so don't let me influence anyone otherwise... check out yourself. Just a heads up.
Well pips dont lie and I can tell you his services are profitable. The secretnewsweapon is profitable only if you have a good broker. I no longer use the diamonds room because news trading has been slowly failing. As far as the new service fxnewswix...im unbiased as of right now. I really dont say weather or not a system is good completly based on pips. If I can take pointers away from the way they trade thats worth more to me. I definatly wouldnt use them as a source of income. I usually dont take any of there trades....just there to learn. Never stop learning in the market.

-Sterling
Founder of Day Trading Forex Live
  • #1,539
  • Nov 24, 2008 4:33pm Nov 24, 2008 4:33pm
Quoting stersuhr
Well pips dont lie and I can tell you his services are profitable. The secretnewsweapon is profitable only if you have a good broker. I no longer use the diamonds room because news trading has been slowly failing. As far as the new service fxnewswix...im unbiased as of right now. I really dont say weather or not a system is good completly based on pips. If I can take pointers away from the way they trade thats worth more to me. I definatly wouldnt use them as a source of income. I usually dont take any of there trades....just there to learn. Never...
Felix is just about one of the best known forex 'wizard marketeers' out there - owning a forex review website which lists his own services has to be a conflict of interests, and he should keep the two well apart in my opinion. I have tried one or two of his services in the past and never come away in profit but he does apear to have some decent spike trading software -IF you can find a broker which allows it ( by that I mean doesn't widen the spread by 50 pips at each news trade as most now do).

Overall it is this sort of service where some core principles of trading are being taught with a system which is tradable by anyone which will last the test of time -and a huge vote of thanks is due to sterling who is giving up so much of his free time to teach us novices
  • #1,540
  • Nov 24, 2008 5:01pm Nov 24, 2008 5:01pm
Sterling,

I didn't see anything in the thread about the mechanism of taking profit other than to say when you get a signal to go in the other direction. I see that you take profit always at 5 pips above or below EMA (depending on the position). What exactly do you do to take profit at precisely this point, yet manage to wait for the bar to finish formation and even wait for the bar after it to confirm reversal, and thus to confirm the status of the previous bar as a setup bar so you can accept the reverse signal and take profit accordingly?
1 trader viewing now