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4H 5EMA System

  • #2,501
  • Dec 20, 2008 7:02pm Dec 20, 2008 7:02pm
Quoting stersuhr
So I did a little combining of Howards idea with my system and for this month we would be up +1000 pips and counting. Im going over to Eric's tonight to backtest the year and Ill get back to ya guys on this one. I should do a chart to bring us current as well...I love how this thread just died instantly when the system started out down -600 pips pips for the month, now its up +300 or so. The people that left because of that should not come back, youll never have what it takes to be sucessful in this market, you should just stop trading and save...
Great Post Sterling,
I have experienced at least 3 major sideways choppy pip eating moves since I joined this thread (near the beginning) and we always come out with a big move and did well. Sometimes we may cross a calendar line and be in the next month, who cares?
I lowered my contract size to about 25% of what I usually trade on Monday, so I did not get the full advantage of the move. I did not do that because of the chop, I did it because of the holidays. I'll go all the way up and make it back in January, no problem. I like what you said about the deserters not coming back, but some may have left for Christmas.
Are you saying you are combining the daily and four hour and getting back to us with a new improved system? Or just a better daily system?
How are we doing with an EA that can test these ideas quickly?
This is a very exciting thread that just keeps improving, thanks for starting it.
Michael
  • #2,502
  • Dec 20, 2008 7:42pm Dec 20, 2008 7:42pm
Quoting alllivemind
Great Post Sterling,
I have experienced at least 3 major sideways choppy pip eating moves since I joined this thread (near the beginning) and we always come out with a big move and did well. Sometimes we may cross a calendar line and be in the next month, who cares?
I lowered my contract size to about 25% of what I usually trade on Monday, so I did not get the full advantage of the move. I did not do that because of the chop, I did it because of the holidays. I'll go all the way up and make it back in January, no problem. I like what you said about...
The people Im talking about know who they are and I can say you were not in my mind when I wrote that You have been a supporter of this system since the beginning as far as I remember. The people that my above message applies to, will read that and know it applies to them. I hope they take that message to heart and stick with there day job. The new idea for the system is on the daily chart and uses some of the ideas Howard wrote about with some of the base principals found in this system. Ill have a backtest of the last 6 months in about an hour or so.

Oops as I wrote earlier Iam backtesting at erics and wrote this under his name

-Sterling
  • #2,503
  • Dec 20, 2008 8:08pm Dec 20, 2008 8:08pm
Quoting alllivemind
How are we doing with an EA that can test these ideas quickly?
Hi all,

About that, I haven't got news from its coder for some days already, I suppose he's not having the time to work on it;
Also, I've sent him El Dee's rule description doc (credits mentioned ), and he said he would take a good look at it.

But remember the EA is build according to the current 4H 5EMA system's rules... not with any modified rules for the daily
  • #2,504
  • Dec 20, 2008 10:13pm Dec 20, 2008 10:13pm
Quoting Hiranya
The people Im talking about know who they are and I can say you were not in my mind when I wrote that You have been a supporter of this system since the beginning as far as I remember. The people that my above message applies to, will read that and know it applies to them. I hope they take that message to heart and stick with there day job. The new idea for the system is on the daily chart and uses some of the ideas Howard wrote about with some of the base principals found in this system. Ill have a backtest of the last 6 months in about an hour...
Awesome! I can hardly wait....
And I knew you were not talking about me, it never entered my mind, I was just letting you know what I did. We traders have to think long term. We have to look back more than the last two or three trades and look forward long term too. This system will catch 95% of all the really big moves. It doesn't really matter how we did in one week, but per quarter and per year. So once we learn the system, it's all about money management and patience.
M
  • #2,505
  • Dec 21, 2008 3:37am Dec 21, 2008 3:37am
Hi Sterling and others,
I have not abandoned this system at all, I still think it is awesome and one of the best I've seen! I just haven't been posting as often after I learn't the system well myself but I'm unable to follow through with every trade at the moment, especially in the early morning where I am.
I still keep checking in though, good to see it keeps making a comeback and has yet to see a negative month since I've been following and that is the main thing- Some months have been minimal profit but the bottom line is it has not lost a cent overall- month to month. Hope it continues like this, when I get enough trading capital to actually warrant me waking up to take all trades I will. Still waiting in hope a perfect EA will come along in the mean time.
  • #2,506
  • Dec 21, 2008 4:23am Dec 21, 2008 4:23am
hi sterling

have not been posting alot but have been following your system. sure, it has its ups and downs (the market), but not let the fact that people run off when they experience losses bother you so much. the big moves sure made up for that. consistency is the key i suppose, so take heart that there are plenty others who are following your system.
apologies for not being an active contributor in your thread, but yours is the one that's making the pips for me! thanks for a simple yet effective system.

alex
  • #2,507
  • Dec 21, 2008 4:39am Dec 21, 2008 4:39am
A note to those who want to back test this system or any variation thereof using an EA.

MT4 backtesting is flawed you cannot rely on it, any backtesting should be done manually.

However you can use an EA to trade for you.
Regards
  • #2,508
  • Dec 21, 2008 8:41am Dec 21, 2008 8:41am
I'm ready for the new daily system. I thought the 4-hour would work for me, but even that is too frequent. If I can't look at it once per day, or scalp for minutes at a time, I can't do it. Too busy.

Good systems on here, though. Can't wait to see the new one.
  • #2,509
  • Dec 21, 2008 9:11am Dec 21, 2008 9:11am
Quoting stersuhr
If one drawdown drives you away from a positive system you will fail I guarantee it.
-Sterling
May be that lots of people looked at the +++ pips posted on the first page, and risked a significant % of their capital during this month beginning. The first few weeks, those high risk takers, would have been .

For all the experts and others who are hanging tight here, take my .

Sterling, Howard, Tonirai and many others from whom I've benefited and learned (learning and benefiting still), carry on your good work. Know that for sure, your work is appreciated .

Thanks
  • #2,510
  • Dec 21, 2008 9:44am Dec 21, 2008 9:44am
Hi guys,

Have not traded the last 2 weeks cos on holiday mode. Will be active again in jan. Glad to see that the market is giving us pips again. Merry Xmas and Happy New Year!
  • #2,511
  • Dec 21, 2008 1:45pm Dec 21, 2008 1:45pm
Quoting killertrader
I'm ready for the new daily system. I thought the 4-hour would work for me, but even that is too frequent. If I can't look at it once per day, or scalp for minutes at a time, I can't do it. Too busy.

Good systems on here, though. Can't wait to see the new one.
I'm seeing quite a few positive messages regarding the daily timeframe....please please please do a whole year's backtesting for yourself -regardless of anyone else's work - on any rules that differ to Sterling's before you trade a single 'real' penny or cent, unless Sterling posts an approved ammendment on this thread, .
Sterling's 4 hr rules work well on any bigger timeframe (but don't forget bigger timeframe = bigger potential stop losses & draw downs) though they are currently optimised for 4 hrs.
There are some proposed ammended rules that some guys are working on but haven't had sufficient back and forward testing to be given the green light.
Remember - you are in charge of your own destiny - don't put it in someone else's hands! There are lots of good thoughts and ideas on this thread but at the moment, only 1 set of validated, long term tried and tested rules!
You don't have to be right, just don't be too wrong
  • #2,512
  • Dec 21, 2008 3:49pm Dec 21, 2008 3:49pm
El Dee

That is absolutely correct
Regards
  • #2,513
  • Dec 21, 2008 4:03pm Dec 21, 2008 4:03pm
Hi Sterling
Great system.I am still trading the system on mini account.I am learning along the way from this thread from Sterling and everyone who post on this thread.Keep up the good work Sterling.Thankyou Sterling,Hiranya,Tonirai,Howard and El Dee.
Bhupinder
  • #2,514
  • Dec 21, 2008 4:15pm Dec 21, 2008 4:15pm
Quoting alllivemind
Awesome! I can hardly wait....
And I knew you were not talking about me, it never entered my mind, I was just letting you know what I did. We traders have to think long term. We have to look back more than the last two or three trades and look forward long term too. This system will catch 95% of all the really big moves. It doesn't really matter how we did in one week, but per quarter and per year. So once we learn the system, it's all about money management and patience.
M
Very well said Mike.

-Sterling
Founder of Day Trading Forex Live
  • #2,515
  • Dec 21, 2008 4:17pm Dec 21, 2008 4:17pm
Quoting viperzz
Hi Sterling and others,
I have not abandoned this system at all, I still think it is awesome and one of the best I've seen! I just haven't been posting as often after I learn't the system well myself but I'm unable to follow through with every trade at the moment, especially in the early morning where I am.
I still keep checking in though, good to see it keeps making a comeback and has yet to see a negative month since I've been following and that is the main thing- Some months have been minimal profit but the bottom line is it has not lost a cent...
Guys there no need for people to state there positon, I will never call anyone out by name. In fact I really wasent thinking of anyone by name when I worte that, I just know that there are quite a few that that message applies to. And if it does dont take it as mean, take it as a sucessful trader svaing you some money by recognizing you dont have what it takes and telling you to stop trading

-Sterling
Founder of Day Trading Forex Live
  • #2,516
  • Dec 21, 2008 4:20pm Dec 21, 2008 4:20pm
Quoting denverdude
May be that lots of people looked at the +++ pips posted on the first page, and risked a significant % of their capital during this month beginning. The first few weeks, those high risk takers, would have been .

For all the experts and others who are hanging tight here, take my .

Sterling, Howard, Tonirai and many others from whom I've benefited and learned (learning and benefiting still), carry on your good work. Know that for sure, your work is appreciated .

Thanks

If anyone didnt follow my MM I have no pitty on them....if someone stopped at the worst point this month because they couldnt bare to see another loss and missed the +800 pip run in are favor I have no pity on them. Ive given you guys a recipe....if you choice to veer one way or the other you may do better but you may do worse. But like I said if you stick to everything you will make money and good money at that.

-Sterling
Founder of Day Trading Forex Live
  • #2,517
  • Dec 21, 2008 4:22pm Dec 21, 2008 4:22pm
The system I tested last night with Eric averaged about 300 pips a month....not so good. So were still working on making a dily as I have more info I will let you guys know but right now nothing to terrably great.

-Sterling
Founder of Day Trading Forex Live
  • #2,518
  • Dec 21, 2008 5:28pm Dec 21, 2008 5:28pm
Backtesting the initial few months of 2008 would give a nice idea of the potential losses and drawdowns the daily system (without the EMA, with each bar as setup, SL = TP) would have encountered. Try testing with those months where GBP was stuck in a range.

If one had the guts to withstand that, the latter months of 2008, would have been good.

Its sooo easy to "cherry pick" and backtest only those months where the system would have rained $$$. Please avoid that mistake.

Thanks
  • #2,519
  • Edited 8:07pm Dec 21, 2008 5:43pm | Edited 8:07pm
Hi all,

I start by thanking the nice words that have been said and addressed to me

Also, I want to apologize if eventually I'll be posting less frequently until next year... with these hollidays and my anniversary in the middle, I have family and best friends coming home from Switzerland, France and Spain, and a lot of time to catch up with them

That being said, we have re-entered the short at the openning, @ 1.4947;
Our SL & buy stop are placed @ 1.4956, and this one has a SL @ 1.4808.
  • #2,520
  • Dec 21, 2008 6:05pm Dec 21, 2008 6:05pm
Quoting El Dee
I'm seeing quite a few positive messages regarding the daily timeframe....please please please do a whole year's backtesting for yourself -regardless of anyone else's work - on any rules that differ to Sterling's before you trade a single 'real' penny or cent, unless Sterling posts an approved ammendment on this thread, .
Sterling's 4 hr rules work well on any bigger timeframe (but don't forget bigger timeframe = bigger potential stop losses & draw downs) though they are currently optimised for 4 hrs.
There are some proposed ammended rules that...
Although this post seems a bit presumptuous, thanks so much for the advice (tips, warnings, lecture). I will file this away appropriately.
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