4H 5EMA System | Page 85 | 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

  • #1,681
  • Nov 26, 2008 2:02pm Nov 26, 2008 2:02pm
Quoting earret
Here's the way I look at this guys...when we place an order on a setup candle sell or buy, at that time we have a stop in place for that order for protection. I think what sterling is saying is that you should also have a pending order that gets you into the market in the opposite direction if that stop is executed. If the two orders are placed at the same price point this will be simultaneous.
Yes, but you only put the reversal order in once the reversal bar that triggers the original trade closes. This is very important.

-Sterling
Founder of Day Trading Forex Live
  • #1,682
  • Nov 26, 2008 2:07pm Nov 26, 2008 2:07pm
Quoting CitiTrade
Remember the drawings which became popular in the early 90s, where you have to stare at nothing but dense colored dots and you're supposed to see something like a dog, or the space shuttle, etc? I spent weeks not getting it, because I was examining every detail of the drawings trying to spot the patterns they spoke off. And finally, it wasn't anything like that.. you simply had to remove your focus, and there you have it, it jumps at you and can't miss it even if you want to. Well, I am getting there The problem has been is the rules go back...

Great man glad to see it all coming together. I try to tell people just stick with it and then all of a sudden I see something click in peoples brains and they just instantly understand it. Its weird how the learning process goes. As far as the little dot picture I dont remember those, I was about 5 years old in the early 90's

-Sterling
Founder of Day Trading Forex Live
  • #1,683
  • Nov 26, 2008 2:09pm Nov 26, 2008 2:09pm
Quoting tade
Really appreciate your efforts and the time you take to tackle the questions. Just read about this trading system and sure will put it into practice. But while back testing the system i realized that the candle formation at the end of each run must be a reversal candle before one can take position in the opposite direction. I have seen an instance where the candle stick that breaks the 5EMA in a downtrend was a bearish one and it still continued in that direction.
Please confirm this and let me know your opinion.
kip making pips
Correct. If say the market were to keep trending down every bar each new consecutive low bar would be the setup bar. It takes a bar breaking the setup bars high to trigger a trade, thus keeping us out most of the time when the market hasent stopped making a move, and getting us in/out when its about to change direction

-Sterling
Founder of Day Trading Forex Live
  • #1,684
  • Nov 26, 2008 2:11pm Nov 26, 2008 2:11pm
Quoting CitiTrade
We're flat. will have to wait for a setup bar. This one was a failed reversal bar.
Yeah you got it. It hasent been the hotest last couple days, but if the system can hold up during a time like this then that should bring some confidence to all. We are currently flat now and looking for a setup bar.

-Sterling
Founder of Day Trading Forex Live
  • #1,685
  • Nov 26, 2008 3:22pm Nov 26, 2008 3:22pm
Quoting stersuhr
... It hasent been the hotest last couple days..

-Sterling
Exactly. Meanwhile some scalping may keep things interesting 'til the market is more uniform.
  • #1,686
  • Nov 26, 2008 3:35pm Nov 26, 2008 3:35pm
Quoting CitiTrade
Exactly. Meanwhile some scalping may keep things interesting 'til the market is more uniform.
LOL yeah im working on it. Ill have that ready in a few days. Systems take time to make them right. Its coming together tho.

-Sterling
Founder of Day Trading Forex Live
  • #1,687
  • Nov 26, 2008 5:12pm Nov 26, 2008 5:12pm
For the bar just closed on 6.00PM EST (closed to be a sell setup bar):

Sell stop: 1.5266
Stop Loss: 1.5452
  • #1,688
  • Nov 26, 2008 5:14pm Nov 26, 2008 5:14pm
thats exactly what i got CitiTrade
  • #1,689
  • Nov 26, 2008 8:12pm Nov 26, 2008 8:12pm
Hi All.

I have been reading through this thread for the last week and just wanted to say thank you to Sterling for posting this system and all the hard work and support that you are giving to everyone. I will be giving this system a try. It is good to see that this thread unlike some of the other threads on the site has not turned into a slanging match and keeps on track with dealing with the trading system. Sterling I like the way you handle the critics. Keep up the good work. I will defiantly be around in this thread. When I get it down pat I will be only to happy to help with the questions. One thing I have noticed is that my charts are differant to the ones posted. I have been looking at several charts at present I have got 3 sources and all are differant.if I understand correctly you guys us Alpari from the UK is this correct?.
Regards Xpat
  • #1,690
  • Nov 26, 2008 8:34pm Nov 26, 2008 8:34pm
Quoting Xpat
Hi All.

[color=black]I have been reading through this thread for the last week and just wanted to say thank you to Sterling for posting this system and all the hard work and support that you are giving to everyone. I will be giving this system a try. It is good to see that this thread unlike some of the other threads on the site has not turned into a slanging match and keeps on track with dealing with the trading system. Sterling I like the way you handle the critics. Keep up the good work. I will defiantly be around in this...
You can use Alpari uk or Alpari-us to follow the trades, they both have the same candle time. Personally I prefer to use Alpari US in demo as it has 4 digit pricing which is less confusing, Sterling uses that as well I believe.
  • #1,691
  • Nov 26, 2008 8:56pm Nov 26, 2008 8:56pm
Thanks for that the one I use at work appears to be pionting at the UK. Do you know how to piont it to the US. I also have Alpari at home but the charts are differant candle and price.
  • #1,692
  • Nov 26, 2008 9:06pm Nov 26, 2008 9:06pm
Quoting Xpat
Thanks for that the one I use at work appears to be pionting at the UK. Do you know how to piont it to the US. I also have Alpari at home but the charts are differant candle and price.
Both UK & US Alpari have the same candles.
The difference is in the openning times of the candles (meaning clock time).
  • #1,693
  • Nov 26, 2008 9:23pm Nov 26, 2008 9:23pm
Quoting Xpat
Thanks for that the one I use at work appears to be pionting at the UK. Do you know how to piont it to the US. I also have Alpari at home but the charts are differant candle and price.
You could download the demo from alpari-us.com if that is what you mean?
  • #1,694
  • Nov 26, 2008 9:33pm Nov 26, 2008 9:33pm
Thanks guys I will give the us site a try
  • #1,695
  • Nov 26, 2008 11:27pm Nov 26, 2008 11:27pm
so what's our latest setup and pip count for this month?
  • #1,696
  • Nov 26, 2008 11:33pm Nov 26, 2008 11:33pm
a while ago I mentioned I was going to write up a cheat sheet for this system. Something you could use while you are learning the system, or when you just can't seem to focus during that early morning candle check. I think I have everything in it, except for the 50% rule. I need to work on my next class now and don't know when I will get back to this. I figured I will post it and if anyone finds it interesting please check my logic on it and let me know if I got something wrong or if something doesn't make sense. If you have a suggestion on how to include the 50% rule that would be great also, otherwise I'll work it in when I can.
Attached File(s)
File Type: doc 4 Hour 5 EMA Trading System.doc   43 KB | 811 downloads
  • #1,697
  • Nov 26, 2008 11:45pm Nov 26, 2008 11:45pm
Quoting ivonivon
so what's our latest setup and pip count for this month?
Latest pip count was +423 (20h ago).
Since that, we had a marginaly positive trade, and a loss.

Our current bat is the second trial after setup bar, to go short.
  • #1,698
  • Nov 26, 2008 11:48pm Nov 26, 2008 11:48pm
Quoting PowerBySol
a while ago I mentioned I was going to write up a cheat sheet for this system. Something you could use while you are learning the system, or when you just can't seem to focus during that early morning candle check. I think I have everything in it, except for the 50% rule. I need to work on my next class now and don't know when I will get back to this. I figured I will post it and if anyone finds it interesting please check my logic on it and let me know if I got something wrong or if something doesn't make sense. If you have a suggestion on how...
An error found right at the beginning:
It says "if bar pierced the line...", missing the "by at least 5 pips".
Didn't continue to read, though... might be others.
  • #1,699
  • Nov 27, 2008 12:15am Nov 27, 2008 12:15am
PowerBySol,

Took another look at it;
Honestly, not the thing I would use "when you just can't seem to focus during that early morning candle check"

I'm sure making it contributed for your learning process...
But reading it is rather confusing to me, and sometimes can't even visualize the rules in my mind, to see if it's right or wrong.

About "when you just can't seem to focus during that early morning candle check"... it will only happen when you don't have the rules inside you.
Once you do, a brief look at the chart tells you immediately at what point you are, and what to do next!

Just my honest 2 cents, don't take me wrong
  • #1,700
  • Nov 27, 2008 1:05am Nov 27, 2008 1:05am
Quoting CitiTrade
It failed to give us a proper reversal bar for our pending sell (no trigger). Order is deleted, and we wait again for another setup bar which could be this one forming now (2AM - 6AM EST).
The last bar actually made the same high as the bar two before it therefore the last bar is are new setup bar and you should have a sell 5 pips below the last bars low.

-Sterling
Founder of Day Trading Forex Live
1 trader viewing now