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4H 5EMA System

  • #2,321
  • Dec 8, 2008 2:15pm Dec 8, 2008 2:15pm
Quoting trixtuf
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.
Looks good trixtuf, but what about the long term? We need to backtest for a few years. The 8 hr had a big short winner, went long Friday and is still long. I have been trading both the four hour and eight hour with real money for over 2 months now, but still I'm waitin for a way to abacktest both for a few years.
Michael
  • #2,322
  • Dec 8, 2008 2:59pm Dec 8, 2008 2:59pm
Well, it's an idea I started using to monitor the 1hr chart direction for short term trades. As you can see, at the end of Friday even this idea wouldn't have been much help to protect from a (relatively) small range volatile market.

I'm just throwing it out for inspection as it did seem like it would have saved some pips today. It does me well in my use of it.
  • #2,323
  • Dec 8, 2008 3:00pm Dec 8, 2008 3:00pm
Quoting alllivemind
Looks good trixtuf, but what about the long term? We need to backtest for a few years. The 8 hr had a big short winner, went long Friday and is still long. I have been trading both the four hour and eight hour with real money for over 2 months now, but still I'm waitin for a way to abacktest both for a few years.
Michael

I agree with you alllivemind anything that we want to add to this system needs to be back tested one or two years and then forward tested two or three months. Trixtuf your chart looks good and i would like to see what its performance is for the past year
  • #2,324
  • Dec 8, 2008 3:19pm Dec 8, 2008 3:19pm
not a whole lot of action this afternoon. at least not good action. hope she falls!
  • #2,325
  • Dec 8, 2008 4:55pm Dec 8, 2008 4:55pm
Quoting Hiranya
I agree with you alllivemind anything that we want to add to this system needs to be back tested one or two years and then forward tested two or three months. Trixtuf your chart looks good and i would like to see what its performance is for the past year

As I mentioned, I use this idea on shorter time frames and it looked decent for todays activity. I've never traded off the 4hr, just used it for s/r referance so I took a quick look over some 4hr charts today and, on the surface, this idea may not be very helpfull. There are too many spikes that wouldn't be covered effectively by the rules I use on shorter time frames.

Sorry, I guess I might have jumped the gun a bit even throwing that out.
  • #2,326
  • Dec 8, 2008 6:10pm Dec 8, 2008 6:10pm
Well we have had two failed setup bars after that recent one with the high, and now the third bar has closed. Since it penetrated the upper band it now becomes the new setup bar, so I moved the buy stop for my short to: 1.4965. This is also my reversal buy stop.
Michael
  • #2,327
  • Dec 8, 2008 6:29pm Dec 8, 2008 6:29pm
I thing we dont move the stop loss yet.we move it after current bar is closed.
two failed bars are invalid.
  • #2,328
  • Dec 8, 2008 6:33pm Dec 8, 2008 6:33pm
Quoting trixtuf
As I mentioned, I use this idea on shorter time frames and it looked decent for todays activity. I've never traded off the 4hr, just used it for s/r referance so I took a quick look over some 4hr charts today and, on the surface, this idea may not be very helpfull. There are too many spikes that wouldn't be covered effectively by the rules I use on shorter time frames.

Sorry, I guess I might have jumped the gun a bit even throwing that out.

I don't think that you jumped the gun, if it is working on a short time frame then i would love to see if it would work on the 4hr frame. If it does then you are the man. I am open for any suggestions to make a system better and if this works then that would be cool. It might filter out some of the losses and that is what we need.
  • #2,329
  • Dec 8, 2008 7:54pm Dec 8, 2008 7:54pm
it is my understanding that the stop has not moved
  • #2,330
  • Dec 8, 2008 8:04pm Dec 8, 2008 8:04pm
me too, Stop not moved yet.
  • #2,331
  • Dec 8, 2008 10:11pm Dec 8, 2008 10:11pm
You guys are right, I was thinking backwards, the stop cannot move till we penetrate the lower band. Sorry
M
  • #2,332
  • Dec 8, 2008 11:46pm Dec 8, 2008 11:46pm
Hi Stersuhr This Tony I talk to you on the phone from Toronto. How are you. Any news on the updated EA yet? Thanks
My Email For Help: [email protected]
  • #2,333
  • Dec 9, 2008 1:15am Dec 9, 2008 1:15am
Quoting tcmm
Hi Stersuhr This Tony I talk to you on the phone from Toronto. How are you. Any news on the updated EA yet? Thanks
Im good. Honestly I have the EA I just havent given it a test yet. Thanks for reminding me about that. Ill start it up right now.

-Sterling
Founder of Day Trading Forex Live
  • #2,334
  • Dec 9, 2008 5:40am Dec 9, 2008 5:40am
New setup candle to go LONG @ 0800 12/9

Existing SELL SL moved to 1.4838

New BUY stop opened at 1.4838 with SL @ 1.4731

Thanks
  • #2,335
  • Dec 9, 2008 6:14am Dec 9, 2008 6:14am
Quoting denverdude
New setup candle to go LONG @ 0800 12/9

Existing SELL SL moved to 1.4838

New BUY stop opened at 1.4838 with SL @ 1.4731

Thanks
yep thats what im seeing. good to see things come around. was looking like second live trade was gonna be a little ugly but looking ok now.

lets hope she falls more guys.

thanks for everyones help in here. really helps out

lets keep it up!!!
  • #2,336
  • Dec 9, 2008 6:19am Dec 9, 2008 6:19am
Quoting jtmoore007
yep thats what im seeing. good to see things come around. was looking like second live trade was gonna be a little ugly but looking ok now.

lets hope she falls more guys.

thanks for everyones help in here. really helps out

lets keep it up!!!
Lucky you if your first two live trades are winners

-Sterling
Founder of Day Trading Forex Live
  • #2,337
  • Dec 9, 2008 6:31am Dec 9, 2008 6:31am
Quoting stersuhr
Lucky you if your first two live trades are winners

-Sterling
lol you are the one that told me how to do it. and yea a little luck doesn't hurt anything.

thanks man
  • #2,338
  • Dec 9, 2008 9:08am Dec 9, 2008 9:08am
Hi all

New setup bar formed.
SL from current short at 1.4831;
buy stop at 1.4831, with its SL placed at 1.4671.
  • #2,339
  • Dec 9, 2008 9:15am Dec 9, 2008 9:15am
stop loss moved to 1.4831 buy stop now at 1.4831 with stoploss of 1.4671
  • #2,340
  • Dec 9, 2008 9:49am Dec 9, 2008 9:49am
Missed the action again this week (again, Monday was a good day). Where did you guys enter the short that is in profit now? I am retracing what went on yesterday and today (another good way of learning).
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