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4H 5EMA System

  • #1,801
  • Nov 28, 2008 2:10pm Nov 28, 2008 2:10pm
For those who didn't take any profit towards the weeks close, we are long from 1.5409 - last trade approx -39 pips. Stop 1.5253.
  • #1,802
  • Nov 28, 2008 2:18pm Nov 28, 2008 2:18pm
Quoting petersurrey
For those who didn't take any profit towards the weeks close, we are long from 1.5409 - last trade approx -39 pips. Stop 1.5253.
Are you planning on closing that long at 5pm?
  • #1,803
  • Nov 28, 2008 2:56pm Nov 28, 2008 2:56pm
Quoting CitiTrade
Are you planning on closing that long at 5pm?
I am still demo-ing due to time constraints but I would have closed out earlier with a profit or b/e at worst if trading live..roll on the ea
  • #1,804
  • Nov 28, 2008 3:21pm Nov 28, 2008 3:21pm
Quoting petersurrey
I am still demo-ing due to time constraints but I would have closed out earlier with a profit or b/e at worst if trading live..roll on the ea
Yeah, same here. I am still demo-ing. But I am trying to forget that and pretend it is my money. I gotta tell you tho, it was really hard getting used to a mechanical system. There were several times during this past week where I saw a decent amount of pips (as high as 150) slip away from underneath our trades. I guess it was a bad week to start the system as I didn't see any real profit this entire week. But like you'd said, we're in it for the long haul, and that's the beauty of a mechanical trading system. On a separate note, I have another demo account which I use to sharpen my scalping skills, and I did very well this week. Did about 350 scalping pips, trading daily tho, and practically did all time zones as well (stayed up a total of 18 hours a day).
  • #1,805
  • Nov 28, 2008 3:44pm Nov 28, 2008 3:44pm
Quoting CitiTrade
I closed the sell and collected 72 pips instead of waiting til 2pm. This is the only part of the system (Friday afternoon) when I allowed myself to interfere instead of being totally mechanic. What do you guys think of that? I didn't enter a new buy of course since it might go into the weekend and we're only 5 hours away from closing. Any thoughts?
I'm with you, Citi. I wish I had gotten out with profit before the end of the day when you did. I want to follow the rules impeccably but like you that is the one rule I may exit early. I have been trading long enough to know if there is a trending market or a ranging market, so I'm confidant I'd be right more than wrong. This is the second week in a row that a positive turned negative for me on Friday, and both times that little voice said "get out now!"
  • #1,806
  • Nov 28, 2008 4:01pm Nov 28, 2008 4:01pm
Quoting anuar
Hi Sterling ,

I've been lurking in FF for a couple of month now. I stumble upon yr system a couple of days ago. Thanks so much for sharing. I was so excited after reading and trying to understand your system until I straight away trade it live !!! Of course with backtesting, etc. I only have one trade still open at 100+ pip ( will close it soon, since its already around 9pm in Malaysia, and I dont want to carry it over the weekend ).


My backtesting show the system net +412pip + my currend trade ( +100 ++). so your average of 500+ per mth...
Glad to have you around. I think the IBFX 4H close is doing a little better than the Alpari close this month based on what people are saying. Remember that when I say average I mean over the course of a year, so you can have 6 months that are BE and 6 months of 1000 pips profit and still have an average of 500 pips a month. Dont get to cought up in each and every month and trade, it will get to 500 pips a month dont worry

-Sterling
Founder of Day Trading Forex Live
  • #1,807
  • Nov 28, 2008 4:03pm Nov 28, 2008 4:03pm
Quoting zunis-myst
I have been tracing this guy ziko123 on an off since 2006. He smashed various threads i.e. the one called Harmonic Trading in the forum www.forex-tsd.com (http://www.forex-tsd.com). It was very sad to see him destroying this excellent thread with his obnoxious comments. Eventually he took the whole thread over.

I just tell you this because he is very talented for being distructive
I can guarantee to everyone this...no one will take this thread over! No one. I know the mods moniti=or this and other threads and they see all I do for this thread and all the effort I put into it. They see that everyone here is helpful and understanding, and im sure they will help to keep that peace going in the thread. Ive already PM'd them about Ziko so well see what happens.

-Sterling
Founder of Day Trading Forex Live
  • #1,808
  • Nov 28, 2008 4:05pm Nov 28, 2008 4:05pm
Quoting denverdude
Hi Everyone,

Its been a wonderful first few days (and nice first trade as well), and I've to say, I'm happy to be here with you guys.

Just checking my trade.
As per the rules:
Moved SL to high + 5

Since we are approaching weekend, instead of putting a buy order in the opposite direction as per the rules, will look at the end of the current new candle to close the trade, hopefully for .

Following this live trade on a demo account while looking at the rules and past trades posted made a world of difference in understanding...
Glad to have you around. Are you from Denver or surrounding area. I lived in Littleton for 12 years.

-Sterling
Founder of Day Trading Forex Live
  • #1,809
  • Nov 28, 2008 4:07pm Nov 28, 2008 4:07pm
Quoting petersurrey
I tend to agree on low volume days such as today but on other days it may run for several hundred pips up to the close -perhaps sterling could shed more light on this one..overall it's goods to see this system holding up well in what is often a very tricky trading month.
I just trade what I know works. If you feel another way could be potentially more profitable I welcome you to backtest it. As ive always said this system isnt perfect and if someone can tweak it a little to make it better im all for that.

-Sterling
Founder of Day Trading Forex Live
  • #1,810
  • Nov 28, 2008 4:08pm Nov 28, 2008 4:08pm
Quoting CitiTrade
I closed the sell and collected 72 pips instead of waiting til 2pm. This is the only part of the system (Friday afternoon) when I allowed myself to interfere instead of being totally mechanic. What do you guys think of that? I didn't enter a new buy of course since it might go into the weekend and we're only 5 hours away from closing. Any thoughts?
First of all, what a difference it makes to trade this system vs. trading other methods where emotion/greed/fear all pulls me this way and that way.

I too wanted to ask veterans of this system as well as Sterling the question posted by Cititrade.

What is the earliest time on Fri that we can ignore a valid trade, like the BUY signal that we got today vs putting in a trade and closing it at the EOD Fri?

As per my charts, I should have put in the BUY order at 0500 ET today and should be closing it at 16:45 ET ( didn't take it - can see Sterling breathing fire on me ).

Enjoy your weekend.
Peace
  • #1,811
  • Nov 28, 2008 4:09pm Nov 28, 2008 4:09pm
Quoting CitiTrade
Yeah, same here. I am still demo-ing. But I am trying to forget that and pretend it is my money. I gotta tell you tho, it was really hard getting used to a mechanical system. There were several times during this past week where I saw a decent amount of pips (as high as 150) slip away from underneath our trades. I guess it was a bad week to start the system as I didn't see any real profit this entire week. But like you'd said, we're in it for the long haul, and that's the beauty of a mechanical trading system. On a separate note, I have another demo...
Yeah this week kinda sucked. Its like the market had enough momentum to trigger the trade and as soon as it did it had nothing left and reversed on us. Maybe ill go back and look at holiday weeks and see if there better left out. Ill get back to you guys on that.

-Sterling
Founder of Day Trading Forex Live
  • #1,812
  • Nov 28, 2008 4:11pm Nov 28, 2008 4:11pm
Quoting stersuhr
Glad to have you around. Are you from Denver or surrounding area. I lived in Littleton for 12 years.

-Sterling
Yes Sir. Right now in Aurora - been in Greenwood Village, Westminster, Denver.
  • #1,813
  • Nov 28, 2008 4:12pm Nov 28, 2008 4:12pm
Quoting denverdude
Yes Sir. Right now in Aurora - been in Greenwood Village, Westminster, Denver.
God I miss the weather in Colorado. 300 days of sunshine and there are always hot weeks in the middle of winter. Once we get cold in michigan it stays that way for a LONG time.

-Sterling
Founder of Day Trading Forex Live
  • #1,814
  • Nov 28, 2008 9:13pm Nov 28, 2008 9:13pm
sorry if I ask, but the thread has become too long to search a single information.
have we got a complete backtest of 2008? I mean the monthly income from January to November.
  • #1,815
  • Nov 28, 2008 10:31pm Nov 28, 2008 10:31pm
I have spent the week going through this thread from the beginning, admittedly skimming in some places, and my head is spinning. I have not been trading demo, but simply reading, so the rules have not solidified yet, especially since there are several special consideration rules. Sterling, I am awed by the dedication you have shown to the followers of this thread. I am primarily a news trader (tradingliveonthenews.com) and have been very successful, but news doesn't trade enough to fill the urge. Other systems I have tried have failed miserably, luckily mostly on demos.

I will now start trading your system on demo, having caught up to real time, and hopefully truly grasp the rules. I feel a bit like a leech, because I likely do not have any skills to help advance or contribute to this thread. I will gain and not be able to give back. Maybe once I fully understand the rules, I can offer a re-write to Sterling to clear up any confusion, as I often see the same questions asked again and again. That process will help me understand the rules and may help others like myself. It may ease the burden of answering redundant questions as well.

Again - great thread - well done Sterling, and Eric.

Larry
  • #1,816
  • Nov 29, 2008 2:32am Nov 29, 2008 2:32am
Quoting Corre
sorry if I ask, but the thread has become too long to search a single information.
have we got a complete backtest of 2008? I mean the monthly income from January to November.
Yeah I have a complete backtest. Its at Erics tho. I wont be over there this weekend so Ill just call him and have him post each months results. I might just go over the months again and give them to you when I get back from the weekend tho. I have added a rule a couple weeks ago that might affect the backtest (the rule that was changed is that we no longer carry trades over the weekend). From what I remember it averaged over +700 pips a month. The first 6 months were slow somewhere around +350 per month but the last 6 made up for the first 6 months. Hope this answers your question.

-Sterling
Founder of Day Trading Forex Live
  • #1,817
  • Nov 29, 2008 2:43am Nov 29, 2008 2:43am
Quoting LarryR
I have spent the week going through this thread from the beginning, admittedly skimming in some places, and my head is spinning. I have not been trading demo, but simply reading, so the rules have not solidified yet, especially since there are several special consideration rules. Sterling, I am awed by the dedication you have shown to the followers of this thread. I am primarily a news trader (tradingliveonthenews.com) and have been very successful, but news doesn't trade enough to fill the urge. Other systems I have tried have failed miserably,...

Another news trader. Well let me be the first to welcome you to the thread, hope you stick around. I too got my start in news. I started with Felix in the forexdiamonds room and also used the SNW. I no longer subscribe to the diamonds room but think its a great room for anyone getting started in the forex. It really gives a well rounded education in all trading not just news. As far as news goes now I only trade the spike with the SNW, and even that is very risky the way news is no a days. What used to be good for a currency is now bad and what is bad is now viewed as good. Positive CPI used to send the sterling on a 100 pip rally but now it send it 100 pips the other way. Hopefully in a year news will be back to normal. Anyway I digress.

And your not a leech, no one is here. Everyone starts somewhere and learns from someone else. Someone taught me the way I teach others. Just do the same for someone else when you have the means and thats contribution enough for me. The best way I can tell you to go from here is to do the following. First print the rules out. Next go to the month of sept trades that I posted along with the entries and exit and go over that with the rules next to you. Whenever you dont understand a trade look at the rules and that should clarify it. If not post the trade that you dont understand and ill be more than happy to answer it for you. As far as reading the entire thread I wouldnt do it either lol. Just do what I recommended and start this coming monday on a demo. You'll pick it up in no time, I have no doubt about that. It usually takes people around a week to get a good grasp of the system and within a month you should be able to go live if you so choose. I say a month just to be safe. This market and system will be here for a long time and there is no need to rush things. Again glad to have you here and I look forward to your future posts.

-Sterling
Founder of Day Trading Forex Live
  • #1,818
  • Edited 1:45pm Nov 29, 2008 11:20am | Edited 1:45pm
Does anybody know what was the result of this system in MAY 2008
Because my obserwation shows it was about -600pips.
Am i right or have I misunderstood something about this system?
I tested it on platform that uses GMT (London) time if it makes any difference

stersuhr do You use this system manualy or do you use ExpertAdvisor.

Sorry if someone have answered this question ealier but, it would take me a week or so to get through this thread.
  • #1,819
  • Nov 29, 2008 2:00pm Nov 29, 2008 2:00pm
Polonaise -
I don't remember the exact numbers but I do not believe there was a month that bad. Sterling just said he was going to repost the back test results soon. Without taking the time to figure it out, you may be on differently timed candles, which can very the results. The tread uses Alpari US charts. If you have not read at least the first hundred or so post it would help you much.
  • #1,820
  • Nov 29, 2008 5:32pm Nov 29, 2008 5:32pm
Hey Sterling- just wanted to post my thanks for this clear, simple system, and all of your support for it. And a thanks as well to the other folks answering questions and supporting the effort here.

I've been working with the EA posted earlier, and modified it to put in a fixed-percentage risk method, which adjusts the lot size for every trade to be the same amount of capital at risk in the trade. Do I understand correctly there is an EA effort on another thread somewhere that I could contribute to? If someone would point me that direction I will share there, to keep from cluttering up this thread.
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