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4H 5EMA System

  • #1,841
  • Nov 30, 2008 6:21pm Nov 30, 2008 6:21pm
Quoting tonirai
Your sell stop is right;
Yes, we are long since the openning (we have "reopenned" the previous long, since the openning was above last bar's low-5);
But review your math on Friday's last long (1.5401 + 8 = 1.5409)

I'd appreciate if the experts of this system can explain the reasoning for reopening the long trade from Fri (11/28).

On the 1st page, I see this reg. opening trades that were closed due to Fri:
On Sunday at open put your trade in if nothing has changed.

I'm not sure what "if nothing has changed" means .

Thanks
Peace
  • #1,842
  • Nov 30, 2008 6:37pm Nov 30, 2008 6:37pm
Quoting denverdude
I'd appreciate if the experts of this system can explain the reasoning for reopening the long trade from Fri (11/28).

On the 1st page, I see this reg. opening trades that were closed due to Fri:
On Sunday at open put your trade in if nothing has changed.

I'm not sure what "if nothing has changed" means .

Thanks
Peace
Just imagine the market hasn't been closed.

In this particular case:

What was the last situation you had on Friday?
- You were long, with a setup candle to go short, with sell stop at 1.5357;

So if the market re-opens above that number (that's the "nothing has changed" situation), you re-enter the long;
If it re-opens below that number, you enter short (the previous long has already been closed at Fridays' closing).
  • #1,843
  • Nov 30, 2008 6:51pm Nov 30, 2008 6:51pm
Quoting tonirai
Just imagine the market hasn't been closed.

In this particular case:

What was the last situation you had on Friday?
- You were long, with a setup candle to go short, with sell stop at 1.5357;

So if the market re-opens above that number (that's the "nothing has changed" situation), you re-enter the long;
If it re-opens below that number, you enter short (the previous long has already been closed at Fridays' closing).
Great explination tony. We are now short now just to let everyone know. The last bar on friday was the setup bar and it got trigger about 30-60 minutes ago. Im not sure I wasent watching the comp when it got triggered.

-Sterling
Founder of Day Trading Forex Live
  • #1,844
  • Nov 30, 2008 7:19pm Nov 30, 2008 7:19pm
Quoting tonirai
Your sell stop is right;
Yes, we are long since the openning (we have "reopenned" the previous long, since the openning was above last bar's low-5);
But review your math on Friday's last long (1.5401 + 8 = 1.5409)
Thanks Toni,
My math is good I just have a 4 pip spread
  • #1,845
  • Nov 30, 2008 7:25pm Nov 30, 2008 7:25pm
Quoting alllivemind
Thanks Toni,
My math is good I just have a 4 pip spread
Oups
Been so used to the thread's "default" spread, that sometimes I forget others use different brokers/spreads
  • #1,846
  • Nov 30, 2008 9:08pm Nov 30, 2008 9:08pm
Quoting tonirai
Oups
Been so used to the thread's "default" spread, that sometimes I forget others use different brokers/spreads
Toni,
I can tell by your posts and your ability to help so many in here that you are a really smart guy. It's just the Avatar that's a bit misleading! Thanks for looking out for me. Even after understanding the system I've made a few errors.
Michael
  • #1,847
  • Nov 30, 2008 9:37pm Nov 30, 2008 9:37pm
Well I got some good news for ya guys. I decided to test a new EMA and for sept it took +905 pips for the month instead of the +50 we got. For the current month it took +135 so far which isnt much better but its almost +850 pips better for sept. Im going to be testing it more tonight for the rest of the year and well see how it does. It looks good right now tho. Ill have the backtestin done around 2-3AM EST.

-Sterling
Founder of Day Trading Forex Live
  • #1,848
  • Nov 30, 2008 9:53pm Nov 30, 2008 9:53pm
Quoting stersuhr
Well I got some good news for ya guys. I decided to test a new EMA and for sept it took +905 pips for the month instead of the +50 we got. For the current month it took +135 so far which isnt much better but its almost +850 pips better for sept. Im going to be testing it more tonight for the rest of the year and well see how it does. It looks good right now tho. Ill have the backtestin done around 2-3AM EST.

-Sterling

well that sounds promising and has my hopes as high as they can possibly be. thanks for the already great system. having pretty good success manually. can't wait to see ea

thanks again

jtmoore007
  • #1,849
  • Nov 30, 2008 10:11pm Nov 30, 2008 10:11pm
Quoting jtmoore007
well that sounds promising and has my hopes as high as they can possibly be. thanks for the already great system. having pretty good success manually. can't wait to see ea

thanks again

jtmoore007
Wow...sept which was +997 was +1500 using the new small change...

-Sterling
Founder of Day Trading Forex Live
  • #1,850
  • Nov 30, 2008 10:15pm Nov 30, 2008 10:15pm
Quoting stersuhr
Wow...sept which was +997 was +1500 using the new small change...

-Sterling
LOL great job

I don't know about you guys but in all of my quest to learn forex, somehow i have gotten in the bulk mail of these ea guys that have all of these ONE OF A KIND NEVER LOSE 1000% RETURN EA teasers. i guess i get about 5 of these a week.

Sterling you are starting to sound like one of these.
Just kiddin

cant wait to see it
  • #1,851
  • Nov 30, 2008 11:19pm Nov 30, 2008 11:19pm
Quoting jtmoore007
LOL great job

I don't know about you guys but in all of my quest to learn forex, somehow i have gotten in the bulk mail of these ea guys that have all of these ONE OF A KIND NEVER LOSE 1000% RETURN EA teasers. i guess i get about 5 of these a week.

Sterling you are starting to sound like one of these.
Just kiddin

cant wait to see it
LOL...yeah you not kidding The only difference is you can backtest with 100% accuracy and get what get.

-Sterling
Founder of Day Trading Forex Live
  • #1,852
  • Nov 30, 2008 11:23pm Nov 30, 2008 11:23pm
Quoting stersuhr
LOL...yeah you not kidding The only difference is you can backtest with 100% accuracy and get what get.

-Sterling

yea i would think you could with there being such firm rules.

looking forward to it. bedtime. see yall at US open
  • #1,853
  • Dec 1, 2008 1:18am Dec 1, 2008 1:18am
Quoting stersuhr
LOL...yeah you not kidding The only difference is you can backtest with 100% accuracy and get what get.

-Sterling
I just paper opened my first trade when the market opened at 1.5357, and moved my SL to 1.5361 (8 pip). I think you move your SL to the new lower high - got to check that again. We're up 50 pips!!

Your new EMA must be around 10 - I'm fishing! Great work - nothing like the Master improving his own system.

JT - I think I have tried all these great new systems too - good thing ClickBank refunds your money! http://www.forexfactory.com/images/icons/icon7.gif

Larry
  • #1,854
  • Dec 1, 2008 1:53am Dec 1, 2008 1:53am
Quoting stersuhr
Well I got some good news for ya guys. I decided to test a new EMA and for sept it took +905 pips for the month instead of the +50 we got. For the current month it took +135 so far which isnt much better but its almost +850 pips better for sept. Im going to be testing it more tonight for the rest of the year and well see how it does. It looks good right now tho. Ill have the backtestin done around 2-3AM EST.

-Sterling
Hi Sterling.
Be careful with trusting 100% when testing , used strategy tester , some times when we change parametres and get better result on history data don't give us guarancy about better result in future .
good luck
Peter
  • #1,855
  • Dec 1, 2008 1:57am Dec 1, 2008 1:57am
Quoting LarryR
I just paper opened my first trade when the market opened at 1.5357, and moved my SL to 1.5361 (8 pip). I think you move your SL to the new lower high - got to check that again. We're up 50 pips!!

Your new EMA must be around 10 - I'm fishing! Great work - nothing like the Master improving his own system.

JT - I think I have tried all these great new systems too - good thing ClickBank refunds your money! http://www.forexfactory.com/images/icons/icon7.gif

Larry
Your using the bar that just closed. That bar did not make a lower low than the opening bar and is therefore a failed reversal bar and not a setup bar to go long. The bar that has a low of 1.5284 is still the setup bar to go long and therefore the stop on the short should be 5 pip plus spread above it, so it should be 1.5403 When the market makes a new low then we will use that bar as the new setup bar to go long.

-Sterling
Founder of Day Trading Forex Live
  • #1,856
  • Dec 1, 2008 2:23am Dec 1, 2008 2:23am
Can somebody confirm , we now in the short order with
price 1.5357
stoploss 1.5433
and we have revers order buystop with
price 1.5433
sl 1.5279
is that correct?
thanks
good luck
Peter
  • #1,857
  • Dec 1, 2008 2:26am Dec 1, 2008 2:26am
Quoting pitpiter
Can somebody confirm , we now in the short order with
price 1.5357
stoploss 1.5433
and we have revers order buystop with
price 1.5433
sl 1.5279
is that correct?
thanks
good luck
Peter
1.5403 is the stop loss and the buy stop order location, if your using Alpari-us charts that is. Wow that was a 100 pip bar on the 5M chart for the G/U. Keep droppin baby lol.

-Sterling
Founder of Day Trading Forex Live
  • #1,858
  • Dec 1, 2008 2:48am Dec 1, 2008 2:48am
Quoting stersuhr
Well I got some good news for ya guys. I decided to test a new EMA and for sept it took +905 pips for the month instead of the +50 we got. For the current month it took +135 so far which isnt much better but its almost +850 pips better for sept. Im going to be testing it more tonight for the rest of the year and well see how it does. It looks good right now tho. Ill have the backtestin done around 2-3AM EST.

-Sterling
Hi Sterling,

Thanks for the great system and amazing work you've done in this thread!

Considering that the system is mechanical, do you know why the EA performed differently from the live trading for Sept? Either the EA didn't didn't follow the rules, or the live trades missed something. What do you think?

I'm part way through programming the system in Amibroker and while I've got the primary orders and reversal orders all sorted, I need to do more work on the stop levels. I've had some very strange backtesting results due to this.

Keep up the great work,
Matt.
  • #1,859
  • Dec 1, 2008 3:12am Dec 1, 2008 3:12am
Quoting stersuhr
Well I got some good news for ya guys. I decided to test a new EMA and for sept it took +905 pips for the month instead of the +50 we got. For the current month it took +135 so far which isnt much better but its almost +850 pips better for sept. Im going to be testing it more tonight for the rest of the year and well see how it does. It looks good right now tho. Ill have the backtestin done around 2-3AM EST.

-Sterling
Sterling is talking about a new or different EMA. Some of you are reading EA instead of EMA. Like maybe he is using a 6 or a 10ema instead of a 5ema. he will tell us when he tests it further. I have been here awhile, he like to tease us first, lol
Michael
  • #1,860
  • Dec 1, 2008 3:23am Dec 1, 2008 3:23am
Quoting alllivemind
Sterling is talking about a new or different EMA. Some of you are reading EA instead of EMA. Like maybe he is using a 6 or a 10ema instead of a 5ema. he will tell us when he tests it further. I have been here awhile, he like to tease us first, lol
Michael
LOL, ok I dont want to be know as a tease. I get called that enough in my personal life lol. Its a 10EMA instead of a 5EMA. It tends to keep us out when the market gets choppy. One concern I had is that anything that protects you in a choppy market tends to cut into profits when the market starts to trend, which is where this system makes most of its money. But that dosent seem to be a issue doing this. I just had this idea while I was driving and I thought what the hell Ill test it, and it works. I need to backtest it more tho. Especially on the months that had big profits, I dont want to cut into that much. But as ive always said what you need to worry about is the yearly average so if thats higher then we will go with the 10 EMA as the standard for the room. As you can see with a 10 EMA we would have gotten into this trade much later, because of having to wait to get stopped out of the buy in order to trigger the trade. One trade dosent matter tho, its as I already said all about the yearly average. Were all in this to make a living for the rest of are lives not for the one big month. Anyone that knows the system very well, feel free to backtest and compare to my results. Ive been kinda lazy so I wont have them today, hopefully tomorrow. Most likely tomorrow, ill have some free time

-Sterling
Founder of Day Trading Forex Live
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