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4H 5EMA System

  • #2,141
  • Dec 3, 2008 7:19pm Dec 3, 2008 7:19pm
Experts:

Do we keep our orders/trades open during announcements like the MPC rate and NFP?

Thanks
  • #2,142
  • Dec 3, 2008 8:54pm Dec 3, 2008 8:54pm
Quoting denverdude
Experts:

Do we keep our orders/trades open during announcements like the MPC rate and NFP?

Thanks
Yes, we keep them;
The system disregards these events, it' based only in price action, in support/resistance.
  • #2,143
  • Dec 3, 2008 9:03pm Dec 3, 2008 9:03pm
On Alpari, the 8:00 candle is a setup candle, then 2 failed reversal bars. Isn't the 20:00 candle the new setup? And we should have a buy order?
  • #2,144
  • Dec 3, 2008 9:09pm Dec 3, 2008 9:09pm
Quoting alllivemind
On Alpari, the 8:00 candle is a setup candle, then 2 failed reversal bars. Isn't the 20:00 candle the new setup? And we should have a buy order?
Yup

-Sterling
Founder of Day Trading Forex Live
  • #2,145
  • Dec 3, 2008 9:10pm Dec 3, 2008 9:10pm
Guys,
Tonight I can't help on doubts which require me to look at the chart, because I'm at work (night shift) without MT;
So to those doubts, I trust there's others who can answer - I can only if there's a chart attached.
Sorry
  • #2,146
  • Dec 3, 2008 9:18pm Dec 3, 2008 9:18pm
Stershur

First of all thanks for the thread. One question on how can we confirm the 5 pips ? Is there anywhere we can get it shown on the chart so we know when the rule meet in order to take the short/long trade. Thanks
  • #2,147
  • Dec 3, 2008 9:21pm Dec 3, 2008 9:21pm
Quoting tonirai
Guys,
Tonight I can't help on doubts which require me to look at the chart, because I'm at work (night shift) without MT;
So to those doubts, I trust there's others who can answer - I can only if there's a chart attached.
Sorry

Night shift,,, Man that must suck but hay at lest your around a computer and can chat, that has to make time go by fast.
  • #2,148
  • Dec 3, 2008 9:26pm Dec 3, 2008 9:26pm
Quoting ctnie2143
Stershur

First of all thanks for the thread. One question on how can we confirm the 5 pips ? Is there anywhere we can get it shown on the chart so we know when the rule meet in order to take the short/long trade. Thanks

You need to have alpari and then you simply put your pointer from you mouse on the 5ema just make sure that you check it right above your set up bar and then check you high or low of you set up bar.
  • #2,149
  • Dec 3, 2008 9:30pm Dec 3, 2008 9:30pm
Quoting ctnie2143
Stershur

First of all thanks for the thread. One question on how can we confirm the 5 pips ? Is there anywhere we can get it shown on the chart so we know when the rule meet in order to take the short/long trade. Thanks
I assume you have MT4 - you can save a lot of headache by downloading Alpari.

Once you have the chart as described in the 1st page, you can do this:

Click on the Data Window button (looks like crosshair)
A window opens on the left hand side.

Place the mouse cursor on the bar you want to check.
The data window shows the values.
  • #2,150
  • Dec 3, 2008 9:34pm Dec 3, 2008 9:34pm
Quoting Hiranya
Night shift,,, Man that must suck but hay at lest your around a computer and can chat, that has to make time go by fast.
Yeah... 12h night shift, from 19:00 to 7:00 GMT
Time goes by pretty fast anyway... if I'm not out fixing machines, I'm here on the net

But I miss my MT platform...
  • #2,151
  • Dec 3, 2008 9:48pm Dec 3, 2008 9:48pm
Quoting tonirai
Yeah... 12h night shift, from 19:00 to 7:00 GMT
Time goes by pretty fast anyway... if I'm not out fixing machines, I'm here on the net

But I miss my MT platform...

Fixing machines, what kind? I am a machinist or aka tool and die but i work on all kinds of machines
  • #2,152
  • Dec 3, 2008 10:18pm Dec 3, 2008 10:18pm
Quoting Hiranya
Fixing machines, what kind? I am a machinist or aka tool and die but i work on all kinds of machines
Well, I'm a Technical Mechanical Engineer, working as Maintenance Engineer in an international chip maker factory;
I do the electrical, mechanical & software troubleshooting and repairing.
I work mainly in the Molding area, but also in Trim&Form and Plating (galvanic).
  • #2,153
  • Dec 3, 2008 10:33pm Dec 3, 2008 10:33pm
Quoting tonirai
Well, I'm a Technical Mechanical Engineer, working as Maintenance Engineer in an international chip maker factory;
I do the electrical, mechanical & software troubleshooting and repairing.
I work mainly in the Molding area, but also in Trim&Form and Plating (galvanic).

That sounds cool...
  • #2,154
  • Dec 3, 2008 10:45pm Dec 3, 2008 10:45pm
Quoting petersurrey
Can you clarify this please -there appears to be two failed reversal bars here after the initial set up bar to go long -the first of which should have triggered the 50% rule should it not?
The 50% rule comes into place when the setup bar fails. The bar you are talking about does hit where the 50% rule would have been but the 50% stop would not have been applied until the second reversal bar closes. Does this clear it up for you?

-Sterling
Founder of Day Trading Forex Live
  • #2,155
  • Dec 3, 2008 10:47pm Dec 3, 2008 10:47pm
Quoting tonirai
Guys,
Tonight I can't help on doubts which require me to look at the chart, because I'm at work (night shift) without MT;
So to those doubts, I trust there's others who can answer - I can only if there's a chart attached.
Sorry
Id just like to take the time to thank Toni for all the effort you put into this thread, it is greatly appreciated by me and im sure everyone else thanks you as well!

-Sterling
Founder of Day Trading Forex Live
  • #2,156
  • Dec 3, 2008 10:49pm Dec 3, 2008 10:49pm
Quoting ctnie2143
Stershur

First of all thanks for the thread. One question on how can we confirm the 5 pips ? Is there anywhere we can get it shown on the chart so we know when the rule meet in order to take the short/long trade. Thanks
Well you look at the low of the bar and then move your mouse below that bar on the EMA and it will tell you what that EMA was at when the bar closed, thus you can see if the price breaks the EMA by the required 5 pips. Hope this helps

-Sterling
Founder of Day Trading Forex Live
  • #2,157
  • Dec 4, 2008 1:01am Dec 4, 2008 1:01am
Batesmotel,

I'm interested to know how you colour the channel (gap between the high/low 5ema) in mt4 ?. It look cool. Thanks.
  • #2,158
  • Dec 4, 2008 1:08am Dec 4, 2008 1:08am
At 2000 was the setup candle and now two failed reversals. So we now withdraw our Stop Buy entry and wait for another Setup candle. Right ZZZzzzz.

Larry
  • #2,159
  • Dec 4, 2008 1:31am Dec 4, 2008 1:31am
Quoting LarryR
At 2000 was the setup candle and now two failed reversals. So we now withdraw our Stop Buy entry and wait for another Setup candle. Right ZZZzzzz.

Larry
We are still short and now have are buy stop and the stop loss for the short at 1.4794

-Sterling
Founder of Day Trading Forex Live
  • #2,160
  • Dec 4, 2008 2:31am Dec 4, 2008 2:31am
Quoting stersuhr
We are still short and now have are buy stop and the stop loss for the short at 1.4794

-Sterling
When did we become short??? Yesterday's short was closed by hitting the SL placed at the 50% at 1.4771!!
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