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4H 5EMA System

  • #2,341
  • Dec 9, 2008 10:12am Dec 9, 2008 10:12am
Quoting CitiTrade
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).
1.4800 12/08 12:00 bar but triggered at 15:57
  • #2,342
  • Dec 9, 2008 11:19am Dec 9, 2008 11:19am
Buy triggered at 1.4831, SL at 1.4671.
We wait until this bar's close to place the reverse order.
  • #2,343
  • Dec 9, 2008 11:48am Dec 9, 2008 11:48am
buy triggered. oh well cant win em all.
  • #2,344
  • Dec 9, 2008 1:06pm Dec 9, 2008 1:06pm
buy stoploss should be at 1.4678 correct?
  • #2,345
  • Dec 9, 2008 2:05pm Dec 9, 2008 2:05pm
Quoting jtmoore007
buy stoploss should be at 1.4678 correct?
No, it's at 1.4671.
It belongs 5 pips below the low of the setup bar.
  • #2,346
  • Dec 9, 2008 2:17pm Dec 9, 2008 2:17pm
Quoting Hiranya
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.

Agreed, filtering out losses is where it's at .. I'll be watching to see if my short term signal could be usefull (within the rules of this method), but I'll give it some time to develop before I try to claim it would make a difference one way or the other. I don't put much faith in backtesting results beyond "what could have been done" because reading the signals in real time never turns out those same results. So I'll just follow the thread and use the signals as called for awhile and see where it leads.
  • #2,347
  • Dec 9, 2008 4:31pm Dec 9, 2008 4:31pm
Quoting tonirai
No, it's at 1.4671.
It belongs 5 pips below the low of the setup bar.

ok thanks. Now i think ive got it all. we shall see

thanks!!!!!
  • #2,348
  • Dec 9, 2008 5:45pm Dec 9, 2008 5:45pm
Quoting tonirai
No, it's at 1.4671.
It belongs 5 pips below the low of the setup bar.

and to see if I've got it right ... 1.4671 will remain the current stop until there is a valid setup bar in the other direction ... then the stop and a reversal will be set below that new setup bar in the oposite direction
  • #2,349
  • Dec 9, 2008 6:00pm Dec 9, 2008 6:00pm
Quoting trixtuf
and to see if I've got it right ... 1.4671 will remain the current stop until there is a valid setup bar in the other direction ... then the stop and a reversal will be set below that new setup bar in the oposite direction
Yes, the SL will remain there, until a new setup bar to the other direction comes;

We have also the reverse order (inserted after the reversal bar has closed), which is sell stop at 1.4671, with SL at 1.4849.
(this SL moves up, if we get new highs).
  • #2,350
  • Dec 9, 2008 7:28pm Dec 9, 2008 7:28pm
Quoting tonirai
Yes, the SL will remain there, until a new setup bar to the other direction comes;

We have also the reverse order (inserted after the reversal bar has closed), which is sell stop at 1.4671, with SL at 1.4849.
(this SL moves up, if we get new highs).

i didn't think we put a reverse trade in on a reverse trade.

" Your stop would be placed 5 pips above the high from when you got in the trade. If you get stopped out of your reversal trade you do not put another reversal trade in the market."
  • #2,351
  • Dec 9, 2008 7:45pm Dec 9, 2008 7:45pm
This was not a reverse trade, this was a setup trade;
Reverse trades are the ones when we get stopped, without being because we had a setup bar;
This trade was caused by a setup bar.

Anyway, even if we have a stop & reverse trade (the kind we would have now, if this bar would plunge to 1.4671), after the bar that triggers it closes, we place a reverse order at the higher high (in my example, it would be a buy stop at 1.4849).

What that rule means is that you don't reverse a trade on the reversal bar, meaning on the bar that triggered it;
That's mainly because this system is meant to be managed every 4h, so in the bar that triggers a new order, you cannot have a reverse order until it closes (that's when you go watch it and manage the trades).

This system is always in the market. The only exception is when a bar that triggers a trade reverses and stops it - then, you're flat and waiting for a new setup bar.
  • #2,352
  • Dec 9, 2008 7:59pm Dec 9, 2008 7:59pm
By Tonirai
"This system is always in the market. The only exception is when a bar that triggers a trade reverses and stops it - then, you're flat and waiting for a new setup bar."

seems to me this would only happen if their were an "outside" bar .. which could trigger a trade and then stop it out on the same 4hr candle ... ?
  • #2,353
  • Dec 9, 2008 8:18pm Dec 9, 2008 8:18pm
Quoting trixtuf
seems to me this would only happen if their were an "outside" bar .. which could trigger a trade and then stop it out on the same 4hr candle ... ?
Yes, exactly.
In such bars, the result depends of what direction it goes first - to trigger the trade and then stop it (means reverse previous movement and then resume it), or the opposite (in this case, we're in the reversal, and just correct its stop after the bar closes).
  • #2,354
  • Dec 9, 2008 9:11pm Dec 9, 2008 9:11pm
you are right im an idiot

i don't know why i was thinking this was a reversal trade.

my bad
  • #2,355
  • Dec 9, 2008 11:05pm Dec 9, 2008 11:05pm
Hi On the Metareader 4 and InterbankFX on Sunday night you have a Extra 4 hour Bar before the Asian time opens other brokers don"t have that extra bar. Do you do anything different because of this extra bar to to the method. Thanks
My Email For Help: [email protected]
  • #2,356
  • Dec 10, 2008 12:49am Dec 10, 2008 12:49am
Quoting tcmm
Hi On the Metareader 4 and InterbankFX on Sunday night you have a Extra 4 hour Bar before the Asian time opens other brokers don"t have that extra bar. Do you do anything different because of this extra bar to to the method. Thanks

If you want to be able to follow the trades discussed here without having to make adjustments to chart variations, you should get an Alpari demo... the demo program is free and you will be able to see right where the trades posted here are made ....

IBFX charts end Friday with a three hour segment and start on Sunday at 2300 GMT ... so there is one hour that stands alone ... you wold need to encompass it in the preceeding bar to make up the four hour time frame but most here are using the other charts to make thrades
  • #2,357
  • Dec 10, 2008 6:09am Dec 10, 2008 6:09am
After the close of 12/10 0800 candle:
SL on current BUY moved to 1.4752

New SELL STOP @ 1.4752 with SL 1.4874

Thanks
  • #2,358
  • Dec 10, 2008 8:36am Dec 10, 2008 8:36am
thats what im seeing. hope we have a more productive day today. good luck everyone.

are there several people live with this now or are most of yall still demoing?

just curious
  • #2,359
  • Dec 10, 2008 9:15am Dec 10, 2008 9:15am
Quoting jtmoore007

are there several people live with this now or are most of yall still demoing?

just curious
Still in demo - just started in last week of Nov and moved to alpari to be in line with this thread from Dec.

So far, more than the P/L from this month(which is +ve so far), I am liking the non-emotional, complete rule-based trading that this system brings .

Not to blow my own trumpet, I'm beginning to implement the rules properly (even at midnight)
  • #2,360
  • Dec 10, 2008 9:20am Dec 10, 2008 9:20am
Quoting jtmoore007
thats what im seeing. hope we have a more productive day today. good luck everyone.

are there several people live with this now or are most of yall still demoing?

just curious

Live but small lots. My big problem is when to adjust SL and pending order when in a trade. Every Setup Bar that is more in favour of our trade??

Larry
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