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4H 5EMA System

  • #1,901
  • Dec 1, 2008 7:53am Dec 1, 2008 7:53am
Quoting howard
Stop loss and buy stop should be at 1.5070 at the moment
How did you reach 1.5070?
  • #1,902
  • Edited 8:29am Dec 1, 2008 8:03am | Edited 8:29am
Quoting howard
Stop loss and buy stop should be at 1.5070 at the moment
I'm too check about this number , as for me it 1.5067
And I want ask , what do You call buy stop?
Thanks
Peter
  • #1,903
  • Dec 1, 2008 8:32am Dec 1, 2008 8:32am
Quoting CitiTrade
By the way, where did you move your sell SL to lock profit to? I projected at 1.5135 to lock in 50% of the pips (222 pips out of 444). So the last failed reversal bar's low plus 222 (1.4913 + 222 = 1.5135).
My broker is not Alpari - its FxPro, candles at 3, 7, 11AM ET.

My bad, have I misunderstood the 50% lock in profit method ?

I calculated the 50% of the first big move down candle, and put my SL 5 pips above that point.

I did like : High - (High - Low)/2 + 5 + spread
1.53543 - (1.53543-1.51126)/2 + 5 + spread
1.53543 - 0.01201 + 5 + spread
1.52412

So, is it High - (current profit/2) + 5 + spread ??

Thanks
Peace
  • #1,904
  • Dec 1, 2008 8:43am Dec 1, 2008 8:43am
Quoting CitiTrade
How did you reach 1.5070?
Cititrade,

the 50% rule only cuts in if there are two failed reversal bars that aren't setup bars,

I have the same SL as Howard

Steve.
  • #1,905
  • Dec 1, 2008 8:48am Dec 1, 2008 8:48am
Quoting CitiTrade
How did you reach 1.5070?
It is 8 pips above the top of the last closed bar
Regards
  • #1,906
  • Dec 1, 2008 8:49am Dec 1, 2008 8:49am
Quoting Arnold49
Cititrade,

the 50% rule only cuts in if there are two failed reversal bars that aren't setup bars,

I have the same SL as Howard

Steve.
Oh ok, in this case shouldn't the value be 1.5067? (not 70) since the last closed bar's high is 1.5059.
  • #1,907
  • Dec 1, 2008 8:50am Dec 1, 2008 8:50am
Quoting pitpiter
I'm too check about this number , as for me it 1.5067
And I want ask , what do You call buy stop?
Thanks
Peter
Buy stop is our entry to go long if it gets there
Regards
  • #1,908
  • Dec 1, 2008 8:51am Dec 1, 2008 8:51am
Quoting CitiTrade
Oh ok, in this case shouldn't the value be 1.5067? (not 70) since the last closed bar's high is 1.5059.
Different brokers have different feeds, therefore it is a couple of pips take or give
Regards
  • #1,909
  • Dec 1, 2008 8:57am Dec 1, 2008 8:57am
Quoting CitiTrade
Oh ok, in this case shouldn't the value be 1.5067? (not 70) since the last closed bar's high is 1.5059.

Your'e right 1.5067 , I just checked, but I knew it was about the same as Howards.

I'm on Alpari uk

Steve.
  • #1,910
  • Dec 1, 2008 8:57am Dec 1, 2008 8:57am
Quoting howard
It is 8 pips above the top of the last closed bar
on my chart I have high for last close bar 1.5059
  • #1,911
  • Dec 1, 2008 8:58am Dec 1, 2008 8:58am
I think the market is trying to decide who has worse news, the US or the UK, thus the stagnation in the past couple of hours.
  • #1,912
  • Edited 9:15am Dec 1, 2008 9:00am | Edited 9:15am
Quoting howard
Buy stop is our entry to go long if it gets there
thanks , but it's for order which we put when current bar close? No , it will have new high .
we can't go long on current bar or I'm wrong?
As for me if we don't have set up bar for long , we can't go long.
Or we just looking on this long like on revers trade?
correct?
thanks
Peter
  • #1,913
  • Dec 1, 2008 9:14am Dec 1, 2008 9:14am
Hi guys,

Still riding the short which is now +400 over pips. What a great start to a new month!

Cheers, good trading to everyone and thanks to Sterling again for this wonderful system!
  • #1,914
  • Dec 1, 2008 9:16am Dec 1, 2008 9:16am
Quoting pitpiter
thanks , but it's for order which we put when current bar close? No , it will have new high .
we can't go long on current bar or I'm wrong?
As for me if we don't have set up bar for long , we can't go long.
correct?
thanks
Peter
No it is the top of one bar before the current which has already closed, when the current bar closes in about 1 hour and 45 mins, we move our stop loss and buy stop to the top of this bar.

Stop loss closes our short and buy stop gets us in a long trade, stop and reverse (SAR)
Regards
  • #1,915
  • Dec 1, 2008 9:19am Dec 1, 2008 9:19am
Quoting howard
No it is the top of one bar before the current which has already closed, when the current bar closes in about 1 hour and 45 mins, we move our stop loss and buy stop to the top of this bar
Thanks
any words it's will revers trade if will
good luck
Peter
  • #1,916
  • Dec 1, 2008 9:24am Dec 1, 2008 9:24am
Quoting piptrees
Hi guys,

Still riding the short which is now +400 over pips. What a great start to a new month!

Cheers, good trading to everyone and thanks to Sterling again for this wonderful system!
That's what Sterling meant by saying you must take every single trade dictated by the system, otherwise don't bother.
  • #1,917
  • Dec 1, 2008 9:49am Dec 1, 2008 9:49am
Quoting CitiTrade
That's what Sterling meant by saying you must take every single trade dictated by the system, otherwise don't bother.
you are right you have to take every trade, also good thing that we are not doing the step tp that some people wanted to do where the most we would have made is 90 pips. I hope that every one got in on this trade and this is really nice for the start of the month.
  • #1,918
  • Dec 1, 2008 10:35am Dec 1, 2008 10:35am
Broker: Not Alpari, FX Pro.

Status at 11 AM ET:
Short entry: 1.53510
Current SL: 1.49930 (7 AM Candle high 1.49860)

Pending BUY Stop @ 1.49930

Locked in P/L: 358

This is more than what I work my @$$ off for each month.

Gracias everyone.

Peace
  • #1,919
  • Dec 1, 2008 10:54am Dec 1, 2008 10:54am
Quoting denverdude
Broker: Not Alpari, FX Pro.

Status at 11 AM ET:
Short entry: 1.53510
Current SL: 1.49930 (7 AM Candle high 1.49860)

Pending BUY Stop @ 1.49930

Locked in P/L: 358

This is more than what I work my @$$ off for each month.

Gracias everyone.

Peace
If this is real money you're talking about (live account), then withdraw it and leave your account at its original level. This is one solid MM that I found to be most useful.
  • #1,920
  • Dec 1, 2008 11:02am Dec 1, 2008 11:02am
Two failed reversal bars.. I guess should use the 50% rule now?
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