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4H 5EMA System

  • #1,561
  • Nov 25, 2008 5:35am Nov 25, 2008 5:35am
Quoting CitiTrade
The idea is starting to clear up. One more thing and I will have it down. If the bar you're using for your above activities (SL on Buy, new sell stop, and SL on new sell stop) is not followed by a reversal bar immediately what happens? and if not followed within two bars with one, also what happens?

Thanks to both of you and Kristo for your pateince with us novices.
If not followed immediately by a reversal bar, you keep the orders where they are. You get 2 shots at getting a reversal bar;

If not followed within those 2 bars, you look for a new setup bar.
This also means you remove the sell stop order;
The SL on the long returns to its original location (where the long started), unless covered by the "50% rule".

I strongly advise you to take another look at the rules on the first post, it can clear your doubts.
  • #1,562
  • Nov 25, 2008 5:43am Nov 25, 2008 5:43am
Quoting tonirai
I strongly advise you to take another look at the rules on the first post, it can clear your doubts.
Will do that, thanks again. What you're also doing regarding posting updates of the current situation is even more helpful than reading the rules. Pls keep doing it You probably have to go to work soon, but will catch up with your writing when you come back.
  • #1,563
  • Nov 25, 2008 5:46am Nov 25, 2008 5:46am
Quoting tonirai
If not followed immediately by a reversal bar, you keep the orders where they are. You get 2 shots at getting a reversal bar;

If not followed within those 2 bars, you look for a new setup bar.
This also means you remove the sell stop order;
The SL on the long returns to its original location (where the long started), unless covered by the "50% rule".

I strongly advise you to take another look at the rules on the first post, it can clear your doubts.
Not enough to have a look at the rules in my opinion, they have to be printed and in front of you for a while, that is what I did, after that you can ride the bike very easily.
Regards
  • #1,564
  • Nov 25, 2008 5:57am Nov 25, 2008 5:57am
Quoting pitpiter
in this case I can't get how we can have situation with revers on non failed reversal bar ?
when price hit our stoploss in the same time price break actual lower low , any words making this reversal bar failed
thanks so much
pit
That's probably the most difficult concept to learn in the rules... the meaning of reverse, reversal, and in which situations they apply.

When we say "reverse" a trade, it reffers to when you're long and have a signal to go short (or the opposite);

The "reversal" bar is the one that follows the setup bar and has triggered the new order;
A "failed reversal" bar is the one that triggered the new order, but then got stopped, leaving you out of trades;
A bar after a setup bar that didn't activate the reverse trade is not a proper reversal bar.
  • #1,565
  • Nov 25, 2008 6:01am Nov 25, 2008 6:01am
Quoting howard
Not enough to have a look at the rules in my opinion, they have to be printed and in front of you for a while, that is what I did, after that you can ride the bike very easily.
Actually that's what I have right here in front of me, piles of papers. I tell you what I am having problems with is the too many nested if-thens within if-thens, within if-thens, etc. not to mention the terminology. Remember the argument yesterday about speards on sells and buys. Like to me, I include the spread on sell SLs because the mechanics to place the sell stop plus its SL tells me to do so. But factually speaking, that's not why you include the spread, etc. etc. The rules are full of those sorts of things because they're not written as 101. This only means I have to work harder, that's all. Thanks to all of you guys for your help. Eventually I will get there, and maybe think about a unicycle... LOL (not any time soon for sure)
  • #1,566
  • Nov 25, 2008 6:01am Nov 25, 2008 6:01am
Here is the deal.

I have some 5 min data for 8 years. I will do some coding to backtest and post my findings. I cannot post the data for legal reasons. Also the pairs I am going to test are: GBPUSD, EURUSD, USDCHF, USDJPY. It will take a while as I will need to write the code and test it throughly. Excel is useless as I have to calculate over 300000 datapoints. EA is out of the question too. By the way... Does anyone knows if it is possible to load historical data from a different source into MT4?
.
  • #1,567
  • Nov 25, 2008 6:10am Nov 25, 2008 6:10am
Quoting CitiTrade
Will do that, thanks again. What you're also doing regarding posting updates of the current situation is even more helpful than reading the rules. Pls keep doing it You probably have to go to work soon, but will catch up with your writing when you come back.
Thank you, glad to help

You can also do as howard said, print the rules and have then beside you.
What I did at the beginning was to have another webpage openned on the first post, to check while following the thread.

You don't have to worry about the updates, others will certainly do them when I'm not around.
Sterling himself will, with daily or weekly updates... we're just here to cover for him, whem he's busy/sleeping
  • #1,568
  • Nov 25, 2008 6:32am Nov 25, 2008 6:32am
Quoting tonirai
That's probably the most difficult concept to learn in the rules... the meaning of reverse, reversal, and in which situations they apply.

When we say "reverse" a trade, it reffers to when you're long and have a signal to go short (or the opposite);

The "reversal" bar is the one that follows the setup bar and has triggered the new order;
A "failed reversal" bar is the one that triggered the new order, but then got stopped, leaving you out of trades;
A bar after a setup bar that didn't activate the reverse trade is not a proper reversal...
thanks , but I don't know I get it or no

revers for me in this situation is change direction from sell , which I stoped by stoploss to buy

may be for correct revers rule I need have had opened buy order before bar A , which been closed when order sellstop changed to sell?

if it's possible please say more words about revers , if it's possible with examples pic . I read about this rule in rules and couple posts in thread , re read it now and can't get.
thanks
good luck
pit
  • #1,569
  • Nov 25, 2008 6:36am Nov 25, 2008 6:36am
so am i to understand that by following the rules of this system, at this current time, one would only have a stop in place if price were to turn around and head north.

Meaning currently there is no pending order to buy at the point of that stoploss.

If so then how would you catch the trend if price decided to go higher?

Because as i see it, unless the current candle drops 5 pips below the lower 5ema (which it hasnt currently) anyone trading this system will be sitting on the sidelines waiting if price goes north and takes out that stoploss.

Just trying to clarify

Thanks

Mike
  • #1,570
  • Nov 25, 2008 6:42am Nov 25, 2008 6:42am
Quoting earret
so am i to understand that by following the rules of this system, at this current time, one would only have a stop in place if price were to turn around and head north.

Meaning currently there is no pending order to buy at the point of that stoploss.

If so then how would you catch the trend if price decided to go higher?

Because as i see it, unless the current candle drops 5 pips below the lower 5ema (which it hasnt currently) anyone trading this system will be sitting on the sidelines waiting if price goes north and takes out that stoploss....
You've got something wrong Mike... currently there's no stoploss, because we're flat (out of trades) since the bar that started at 8:00 yesterday (Alpari UK).
  • #1,571
  • Nov 25, 2008 6:45am Nov 25, 2008 6:45am
Quoting tonirai
You've got something wrong Mike... currently there's no stoploss, because we're flat (out of trades) since the bar that started at 8:00 yesterday (Alpari UK).

sorry i am obviously on a different chart time that what you guys are...my candles change at 2,6 & 10.

I thought that is what this thread started out at...is there any specific reason for the change?

Just curious

Mike
  • #1,572
  • Nov 25, 2008 6:45am Nov 25, 2008 6:45am
We're finally in short (my first hit).
  • #1,573
  • Nov 25, 2008 6:52am Nov 25, 2008 6:52am
Man, the scalper in me wants to take the 60 or so pips and run. can I do that, please Sterling? ..
  • #1,574
  • Nov 25, 2008 6:54am Nov 25, 2008 6:54am
Quoting earret
sorry i am obviously on a different chart time that what you guys are...my candles change at 2,6 & 10.

I thought that is what this thread started out at...is there any specific reason for the change?

Just curious

Mike
2, 6, 10 EST
7, 11, 15 GMT

are correct
Regards
  • #1,575
  • Nov 25, 2008 6:55am Nov 25, 2008 6:55am
Quoting CitiTrade
Man, the scalper in me wants to take the 60 or so pips and run. can I do that, please Sterling? ..
You may regret if this runs for 500-1000 pips
  • #1,576
  • Nov 25, 2008 6:55am Nov 25, 2008 6:55am
pitpiter,

Your chart isn't the regular chart we're using as default in the thread (ours are Alpari); yours has a different closing time, so bars are different.

For that reason, trades aren't the same as the ones being posted by Sterling (and by most of us).
We prefer to avoid posting explanations based on those charts, so that it doesn't get more confusing for others.

What I suggest is that you wait for signals to appear on our charts, and then follow them and post doubts;

While we don't have trades, I suggest you look back at least at the middle of the thread, and start following the trades and charts that were posted at that time - maybe those can elucidate your doubt.
  • #1,577
  • Nov 25, 2008 6:57am Nov 25, 2008 6:57am
Quoting petersurrey
You may regret if this runs for 500-1000 pips
ok, Mom
  • #1,578
  • Nov 25, 2008 7:08am Nov 25, 2008 7:08am
Quoting howard
2, 6, 10 EST
7, 11, 15 GMT

are correct
That's Alpari alright, that's what I've got.

Well, we're finally in a short now

For those trying to understand the details:

This is a reversal bar, with:
entry at 1.5051;
SL at 1.5169.
We will only place our reverse order once this bar closes (because we don't reverse a failed reversal bar - if it triggers the stop, that's what the bar becomes).

If someone has the correct orders in the chart, please post it.
(I can't because I'm not trading it now).
  • #1,579
  • Nov 25, 2008 7:12am Nov 25, 2008 7:12am
Quoting tonirai
pitpiter,

Your chart isn't the regular chart we're using as default in the thread (ours are Alpari); yours has a different closing time, so bars are different.

For that reason, trades aren't the same as the ones being posted by Sterling (and by most of us).
We prefer to avoid posting explanations based on those charts, so that it doesn't get more confusing for others.

What I suggest is that you wait for signals to appear on our charts, and then follow them and post doubts;

While we don't have trades, I suggest you look back at least at the...
ok , from now I will follow all what will happen and may be better understand all rules , mine chart looking like on pic , now it's Alpari US
mine EA take shor one bar before vaild enter , becouse error , wich I fined and fixed, and it why I have another stoploss and price.
I just so much curiose about revers rule , I didn't add this rule in code EA and want do that , it why I asking
thanks
good luck
pit
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  • #1,580
  • Nov 25, 2008 7:14am Nov 25, 2008 7:14am
Here it is, the triggered short at 1.5051 with Sl at 1.5169
Attached Image (click to enlarge)
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