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4H 5EMA System

  • #2,361
  • Dec 10, 2008 9:36am Dec 10, 2008 9:36am
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
Im trading Live with this system for like a month.However not as successful as Sterling is.I know1 month of trading is not much for a conclusion to be made.I believe i follow the rules properly, watch the charts every 4 hours, confirm with this forum.First my entry and exit points were based with Ibfx, after losses i refere my numbers from Alpari us now, but still in the (-) side.( I am aware that we are having a choppy month).Logically this is a great system...one thing what bugs me most with this system is the fact that it works with some brookers but not others...Isnt a system suppose to work or not work with any charts???
Still im glued to this thread and waiting patiently for a (+) outcome..
  • #2,362
  • Edited Dec 11, 2008 6:26am Dec 10, 2008 10:06am | Edited Dec 11, 2008 6:26am
Quoting LarryR
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
What do you call setup bars?
I ask, because if it's in favor of your trade, it isn't a setup bar;
Setup bars are the ones that:
- breach the upper ema by 5 pips, when you're flat or long;
- breach the lower ema by 5 pips, when you're flat or short.
  • #2,363
  • Dec 10, 2008 10:11am Dec 10, 2008 10:11am
I think I know what you mean:
You only move the SL and pending order when you get a setup bar, yes;
And if it's not triggered but you get a "more in favour" setup bar, you change those values, yes.
  • #2,364
  • Dec 10, 2008 10:12am Dec 10, 2008 10:12am
Bar# 1 is a Buy SetupBar which was triggered by Bar# 2. Bar# 3 is Sell SetupBar therefore we move the BuyStop SL to Bar# 3 Low. Bar# 4 is also a Sell SetupBar, but did not make a higher-high (HH). Do we keep the BuyStop SL @ Bar# 3 Low or move it to Bar# 4 Low?

TimeFreedom
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  • #2,365
  • Dec 10, 2008 10:16am Dec 10, 2008 10:16am
Quoting TimeFreedom
Bar# 1 is a Buy SetupBar which was triggered by Bar# 2. Bar# 3 is Sell SetupBar therefore we move the BuyStop SL to Bar# 3 Low. Bar# 4 is also a Sell SetupBar, but did not make a higher-high (HH). Do we keep the BuyStop SL @ Bar# 3 Low or move it to Bar# 4 Low?

TimeFreedom
You keep it at bar #3;
After a setup bar, you have 2 trials to get it triggered, after what you start looking for a fresh setup bar (if none has triggered it).
  • #2,366
  • Dec 10, 2008 10:18am Dec 10, 2008 10:18am
Anyway, the current bar (bar #5) has already made a higher high, thus if it doesn't reverse to trigger the trade, it will be the new setup bar, once closed.
  • #2,367
  • Edited 11:13am Dec 10, 2008 10:56am | Edited 11:13am
If bar 2 had a lower low than bar 1, would it still be considered as the reversal bar?
Or would bar 2 be the new setup bar?
  • #2,368
  • Dec 10, 2008 11:19am Dec 10, 2008 11:19am
Quoting nikim
If bar 2 had a lower low than bar 1, would it still be considered as the reversal bar?
Refer to this that I posted some hours ago:
http://www.forexfactory.com/showpost.php?p=2407856&postcount=2353

Basically, yes:
It would had, without doubt, trigger the buy, because it's not a question of "would it still be considered a reversal bar", since the buy order is there, so the buy is trigger.

The only doubt (that changes the outcome) is what does it do first, the high or the low:
If it would have made the low first, then the SL would be moved to its lower low (after the bar closes), instead of remaining below the setup bar;
If it would have made the high first, it would enter long, and stop us out when doing the low later.
  • #2,369
  • Dec 10, 2008 11:21am Dec 10, 2008 11:21am
Quoting tonirai
I think I know what you mean:
You only move the SL and pending order when you get a setup bar, yes;
And if it's not triggered but you get a "more in favour" setup bar, you change those values, yes.
Tonirai: Yes that is what I mean. To me a setup bar is one that exceeds 5 pips of the EMA, even when I'm in a trade (if long, then the upper EMA: if short , the lower EMA. That way I keep moving my SL to lock in profits every 4 hours, if there is a new 'more-in-favour-of-current-position' setup bar. Sort of like a trailing stop, but based on the last better Setup bar. Is this right??

Thanks, Larry
  • #2,370
  • Dec 10, 2008 11:31am Dec 10, 2008 11:31am
Quoting LarryR
Tonirai: Yes that is what I mean. To me a setup bar is one that exceeds 5 pips of the EMA, even when I'm in a trade (if long, then the upper EMA: if short , the lower EMA. That way I keep moving my SL to lock in profits every 4 hours, if there is a new 'more-in-favour-of-current-position' setup bar. Sort of like a trailing stop, but based on the last better Setup bar. Is this right??

Thanks, Larry
Yes, that's more or less right :
Keep in mind that (when long) if a bar makes a higher high but also a lower low than the previous setup bar, it will become the setup bar, even though the SL will be in a "less in favour" position.
  • #2,371
  • Dec 10, 2008 12:14pm Dec 10, 2008 12:14pm
Quoting tonirai
Yes, that's more or less right :
Keep in mind that (when long) if a bar makes a higher high but also a lower low than the previous setup bar, it will become the setup bar, even though the SL will be in a "less in favour" position.

Thanks - that helps me a lot.

Larry
  • #2,372
  • Dec 10, 2008 1:00pm Dec 10, 2008 1:00pm
stop loss and sell stop move to 1.4770 with stop at 1.4888

all correct i hope?
  • #2,373
  • Dec 10, 2008 1:07pm Dec 10, 2008 1:07pm
Can someone give an update on how the system is performing this week?

Thanks
  • #2,374
  • Dec 10, 2008 1:08pm Dec 10, 2008 1:08pm
Short now
Regards
  • #2,375
  • Dec 10, 2008 1:12pm Dec 10, 2008 1:12pm
actually i was looking for -/+ pip count...i'm down pretty good for this week and just wanted to confirm with some others in the group.
  • #2,376
  • Dec 10, 2008 1:13pm Dec 10, 2008 1:13pm
Quoting earret
Can someone give an update on how the system is performing this week?

Thanks
so far this week 1 winner 2 losers but don't base system on just a couple of weeks. look at it for the long run

do not have sufficient backtest to answer but a few people im sure do.
  • #2,377
  • Dec 10, 2008 1:21pm Dec 10, 2008 1:21pm
No i'm not...i've been in the thread since day one...just checking...I've had more trades than that anyway (2win/3loose) its really not about win/loss ratio with this system...its about pip gain at the end of the week...month...year
thanks anyway



Quoting jtmoore007
so far this week 1 winner 2 losers but don't base system on just a couple of weeks. look at it for the long run

do not have sufficient backtest to answer but a few people im sure do.
  • #2,378
  • Dec 10, 2008 5:02pm Dec 10, 2008 5:02pm
stops move. does anyone elses chart seem to b frozen. my orders are taken but the price has not changed in 10 min

edit: ok finally moves

this choppy market sucks!!!
  • #2,379
  • Dec 10, 2008 5:13pm Dec 10, 2008 5:13pm
Stop loss for sell moved to 1.4837.
Buy stop 1.4837
stop loss 1.4745
  • #2,380
  • Dec 10, 2008 5:45pm Dec 10, 2008 5:45pm
I am really interested in learning this strategy but had some problem when i tested it in october. I am probably doing something wrong and would like someone to help me out.

Trade 1. Bar 1 breaks the lower EMA by more than 5 pips so its a setup bar. Bar 2 triggers our long.
Trade 1 is closed out by bar 4 because bar 3 is a setup bar and bar 4 is a reversal bar.
Trade 2 is now short but got stopped out by bar 5. Bar 5 initiates a reversal trade and goes long.
Bar 5 is also a setup bar and bar 6 is a reversal bar
Bar 7 is another setup bar and a short was initiated by bar 8.
However bar 8 broke the lower EMA by more than 5pips and is therefore a setup bar.
Bar 9 is a reversal bar.

Before I do more can someone point out if what I am doing is correct.
Thanks
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