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4H 5EMA System

  • #1,921
  • Dec 1, 2008 1:15pm Dec 1, 2008 1:15pm
what is the current buy stop as the last 4H bar closed and has a high of 1.49261.
So it will make the buy stop at 1.49331 and stop loss at 1.48046.

Did I get it right or I need some help?

Thanx
  • #1,922
  • Dec 1, 2008 1:27pm Dec 1, 2008 1:27pm
Quoting CitiTrade
Two failed reversal bars.. I guess should use the 50% rule now?
Sorry , but where You see two faild reversal bars?
On Alpari US just start first reversal after set up
SL for short 1.4933
buy stop
1.4933
SL 1.48
pleas confirm somebody
good luck
Peter
  • #1,923
  • Dec 1, 2008 1:29pm Dec 1, 2008 1:29pm
Hi,

Really envy you guys making lots of pips already for the month. I am on IBFx and so far there is no setup for this month at all ...Can anyone confirm this. Thanks ..........
  • #1,924
  • Dec 1, 2008 1:31pm Dec 1, 2008 1:31pm
Quoting pitpiter
Sorry , but where You see two faild reversal bars?
On Alpari US just start first reversal after set up
SL for short 1.4933
buy stop
1.4933
SL 1.48
pleas confirm somebody
good luck
Peter

Thats what i have for my buy stop. There was no failed reversal bars, We are still in a short.
  • #1,925
  • Dec 1, 2008 1:33pm Dec 1, 2008 1:33pm
Quoting CitiTrade
Two failed reversal bars.. I guess should use the 50% rule now?
No failed reversal bar yet
Regards
  • #1,926
  • Dec 1, 2008 1:33pm Dec 1, 2008 1:33pm
Quoting Hiranya
Thats what i have for my buy stop. There was no faild reversal bars, We are still in a short.
thanks so much
  • #1,927
  • Dec 1, 2008 1:49pm Dec 1, 2008 1:49pm
may someone give me a proper definition of failed reversal bar?
  • #1,928
  • Dec 1, 2008 2:06pm Dec 1, 2008 2:06pm
And now we have + 424 pips and long
I think it's better as 50%
good luck
Peter
  • #1,929
  • Dec 1, 2008 2:07pm Dec 1, 2008 2:07pm
Bar B has not made a lower Low than Bar A so we keep our SL and Buy Stop at Bar A. Hopefully new new Bar keeps going down

PS:Chart for Interbank fx
Attached Image (click to enlarge)
Click to Enlarge Name: fr.gif Size: 13 KB
  • #1,930
  • Dec 1, 2008 2:08pm Dec 1, 2008 2:08pm
Quoting Corre
may someone give me a proper definition of failed reversal bar?
When the candle hits both ema's at the same time. that is just one of them but that is the most common, if you look at the first page there or some scenarios of a reversal bar.
  • #1,931
  • Dec 1, 2008 2:11pm Dec 1, 2008 2:11pm
Every one should be long now
Regards
  • #1,932
  • Dec 1, 2008 2:14pm Dec 1, 2008 2:14pm
long 1.4933

sl 1.4797

no sell top for now.
  • #1,933
  • Dec 1, 2008 2:18pm Dec 1, 2008 2:18pm
Quoting Corre
long 1.4933

sl 1.4797

no sell top for now.
Stop loss should be 5 pips below the low of setup bar, is yours correct?
Regards
  • #1,934
  • Dec 1, 2008 2:23pm Dec 1, 2008 2:23pm
Quoting howard
Every one should be long now
You should say "Everyone who uses the same charts as you"
Please consider differences between Brookers
  • #1,935
  • Dec 1, 2008 2:27pm Dec 1, 2008 2:27pm
Quoting JokeR
You should say "Everyone who uses the same charts as you"
Please consider differences between Brookers
Standard chart used in this thread has 4hr bars starting at 3, 7,11, 15, 19 GMT, that is what I am referring to
Regards
  • #1,936
  • Dec 1, 2008 2:37pm Dec 1, 2008 2:37pm
Quoting howard
Every one should be long now

Yup, long at 1.4933 SL 1.4800

Steve.
  • #1,937
  • Dec 1, 2008 2:40pm Dec 1, 2008 2:40pm
Quoting Arnold49
Yup, long at 1.4933 SL 1.4800

Steve.
it's what I see on my chart
good luck
Peter
  • #1,938
  • Dec 1, 2008 2:44pm Dec 1, 2008 2:44pm
If anyones interested,

I posted earlier in Nov' that I was going to start using an EA to set my trades to breakeven after 100 pips profit, well the result was..... no difference!

I backtested Oct' and found that this would have saved over 400 pips
so I will continue with it this month and see what happens.

Steve.
  • #1,939
  • Dec 1, 2008 2:48pm Dec 1, 2008 2:48pm
yes, steve. You underline a question that is pretty important.

this system sometime gives a good amount of pips and then goes to SL leaving all the pips on the table.

perhaps the SL at BE can be a very good trial against Ranging markets.
  • #1,940
  • Dec 1, 2008 2:55pm Dec 1, 2008 2:55pm
Hey, I was in the basement drywalling - forgot to reset my SL so didn't get stopped out. Do I close and go long now anyway? For now I have placed the SL at 1.4933. As such buggered up the rules for me. I, unfortunately, just started paper trading on open last night so no real money involved. Waiting for the right place to go live (I know there is no right place - it was last night!!)

Larry
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