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4H 5EMA System

  • #2,301
  • Dec 8, 2008 6:34am Dec 8, 2008 6:34am
Hi sterling needs your confirmation ,I place my sell stop @1.4877 Stop lost @1.5054 chart using IBFX .I just need to compare result beween Alpari and IBfx and see how far does the it differ (pipis) without taking signal from Alpari .So your continous charting is greatly appreaciated.Thank you
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  • #2,302
  • Dec 8, 2008 6:37am Dec 8, 2008 6:37am
Quoting stersuhr
1.4800 should be the stop loss and the sell stop. On sell orders you dont have to include spread.

-Sterling
yes you all are right. sometimes i forget not to add spread on sell.
  • #2,303
  • Dec 8, 2008 6:46am Dec 8, 2008 6:46am
Quoting silverwhite1
Hi sterling needs your confirmation ,I place my sell stop @1.4877 Stop lost @1.5054 chart using IBFX .I just need to compare result beween Alpari and IBfx and see how far does the it differ (pipis) without taking signal from Alpari .So your continous charting is greatly appreaciated.Thank you
Yeah whatever the low of the "reversal" bar is, you put the sell 5 pips below that when it closes. It should actually be labeled the setup bar when that bar closes, and the next bar is the reversal bar. And from what it looks like the short will be triggered and you will have a much better entry

-Sterling
Founder of Day Trading Forex Live
  • #2,304
  • Dec 8, 2008 6:54am Dec 8, 2008 6:54am
silverwhite1 (http://www.forexfactory.com/member.php?u=82270) .... on IBFX ... look at the one hour chart and for the 8 to 12 period use the four bars from 7 to 11

you'll see that our 7:00 bar correllates to their 4hr low @1.4800 ... this one way to keep track


hope this helps you out
  • #2,305
  • Dec 8, 2008 7:07am Dec 8, 2008 7:07am
Quoting trixtuf
silverwhite1 (http://www.forexfactory.com/member.php?u=82270) .... on IBFX ... look at the one hour chart and for the 8 to 12 period use the four bars from 7 to 11

you'll see that our 7:00 bar correllates to their 4hr low @1.4800 ... this one way to keep track


hope this helps you out
Oh yes thank you good observation
anyway sell stop activated @1.4877 (IBFX)
You are using IBFx too?
  • #2,306
  • Dec 8, 2008 7:12am Dec 8, 2008 7:12am
Quoting trixtuf
silverwhite1 (http://www.forexfactory.com/member.php?u=82270) .... on IBFX ... look at the one hour chart and for the 8 to 12 period use the four bars from 7 to 11

you'll see that our 7:00 bar correllates to their 4hr low @1.4800 ... this one way to keep track


hope this helps you out
Hi denver hope this will helps you too .Thanks too trixtuf
  • #2,307
  • Dec 8, 2008 7:27am Dec 8, 2008 7:27am
Sterling ..... or others is it ok for me to post the thread sell/buy base on ibfx chart because I 'm afraid i might iritate or confuse others.Sorry guys.
  • #2,308
  • Dec 8, 2008 7:30am Dec 8, 2008 7:30am
Quoting silverwhite1
Oh yes thank you good observation
anyway sell stop activated @1.4877 (IBFX)
You are using IBFx too?

Yes, I'm on IBFX also ... I've only just started to watch this thread and although it looks like we got a good signal to short at that 1.4882 low, we now seem to be stuck in consolidation and if the market reverses and switches us back to a long position we would would actually be losing about 40 pips while the others just rode out the pullback and remained in the original trade.

will be interesting to see how it works out,
  • #2,309
  • Dec 8, 2008 7:38am Dec 8, 2008 7:38am
Quoting trixtuf
Yes, I'm on IBFX also ... I've only just started to watch this thread and although it looks like we got a good signal to short at that 1.4882 low, we now seem to be stuck in consolidation and if the market reverses and switches us back to a long position we would would actually be losing about 40 pips while the others just rode out the pullback and remained in the original trade.

will be interesting to see how it works out,

i too use ibfx to trade but take alpari signal. but because im looking at both charts all the time. i think things balance out in the long run. sometimes you get better entry and exit with ibfx and sometimes with alpari. just how the ball bounces in my opinion
  • #2,310
  • Dec 8, 2008 8:33am Dec 8, 2008 8:33am
Quoting silverwhite1
Sterling ..... or others is it ok for me to post the thread sell/buy base on ibfx chart because I 'm afraid i might iritate or confuse others.Sorry guys.
Just make sure you clearly say that it is the IBFX chart and that it is not the room standard alpari. Im here to help you guys so if your using another broker then thats ok. But heres a thought. A demo with Alpari is free so why not just sign up for one?

-Sterling
Founder of Day Trading Forex Live
  • #2,311
  • Dec 8, 2008 8:36am Dec 8, 2008 8:36am
Quoting jtmoore007
i too use ibfx to trade but take alpari signal. but because im looking at both charts all the time. i think things balance out in the long run. sometimes you get better entry and exit with ibfx and sometimes with alpari. just how the ball bounces in my opinion
Thats my thoughts too but heres some food for thought and I dont know if its true or not. Some that use those charts and have a good understanding of this system have told me that IBFX timeframe is over the long term not as profitable. Once again I dont know if this is true and if there backtesting is correct or not but thats just what they said so take it for what its worth.

-Sterling
Founder of Day Trading Forex Live
  • #2,312
  • Dec 8, 2008 8:58am Dec 8, 2008 8:58am
Quoting stersuhr
Thats my thoughts too but heres some food for thought and I dont know if its true or not. Some that use those charts and have a good understanding of this system have told me that IBFX timeframe is over the long term not as profitable. Once again I dont know if this is true and if there backtesting is correct or not but thats just what they said so take it for what its worth.

-Sterling
I appreciate the comment and I recall you mentioned this earlier in the thread but I personally don't find it difficult to follow your signals on my IBFX charts.

I like what I've read here and as I'm just paper trading this for now it may help to establish which, if either, has an edge. IBFX uses GMT for their charts so I would almost think it would be the predominantly watched world trade time. ( ? ) That dosen't necessarily mean it's the best rotation for all methods.
  • #2,313
  • Dec 8, 2008 9:03am Dec 8, 2008 9:03am
buy from 1.4719 is stopped out at 1.4800 for +81
  • #2,314
  • Dec 8, 2008 9:05am Dec 8, 2008 9:05am
Sell triggerd at 1.4800
Stop loss at 1.5055
  • #2,315
  • Dec 8, 2008 11:34am Dec 8, 2008 11:34am
Quoting bhupinder
buy from 1.4719 is stopped out at 1.4800 for +81
The 50% rule should have locked in over 150 pips should it not?...
  • #2,316
  • Dec 8, 2008 11:34am Dec 8, 2008 11:34am
Quoting stersuhr
Im still testing it but it looks good. I should know by wed this week if its perfect or not. Ill keep everyone informed. As the EA thread sayed the EA is only going to be handed out to those who know the system and can trade is manually. So thats the first step for anyone who wants the EA.
Hey Sterling- just wondering what we need to do to demonstrate that we understand the rules well enough to qualify for the EA. Have you thought about what you would like us to do to show you?

Thanks.
  • #2,317
  • Dec 8, 2008 11:53am Dec 8, 2008 11:53am
50% rule does not apply as there were no two failed bars.
We had buy from 1.4719 with stop at 1.4800.
Reversal order was to sell at 1.4800 with stop loss at 1.5055.
Our stop and reverse order triggered at 1.4800.
  • #2,318
  • Dec 8, 2008 12:02pm Dec 8, 2008 12:02pm
Quoting petersurrey
The 50% rule should have locked in over 150 pips should it not?...
Refer to the answer below. Havent slept yet, going to sleep now. See you guys later tonight. Maybe Ill do a chart to bring us current tonight, later.

Sterling
Founder of Day Trading Forex Live
  • #2,319
  • Dec 8, 2008 1:55pm Dec 8, 2008 1:55pm
I just started watching this method so if I'm mistaken, please correct me. I don't have an opinion about use of either platform, I'm just displaying something I found interesting. I'm not sure I'm posting this properly, I hope I have the charts included. Here goes ...

It seems today started out looking really good but a large bar got reversed (but with some profit) and now (19:45 GMT) it looks like there was another turn around and this time a bit of a loss.

I use IBFX and on the charts below you can see the differences. the yellow crosshairs identify the reversal in the Alpari charts
Attached Images
  • #2,320
  • Dec 8, 2008 2:05pm Dec 8, 2008 2:05pm
Ok, that worked ...

Now I'd like to show what I found interesting. I've used many indicators, (none with much success) but I read where the formulation of the Heiken_Ashi show an average of the last two (or maybe three) bars. I saw it being used "in place of" the actual price bar. So I put it on my chart "behind" the price bar and am considering using that as my stop/reversal point.

observe the charts below ... notice that neither platform would have been reversed today (so far) and the original long trade would still be active.
Attached Images
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