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4H 5EMA System

  • #2,581
  • Jan 8, 2009 5:15am Jan 8, 2009 5:15am
Quoting jtmoore007
toni just saw post on ea thread. Didn't look like u would b around there that's why I'm posting this here

Tell the coder No Worries!! No pressure. We are doing fine manually. So take your time and do of right. I don't know about anyone else but when it does come out I plan to keep trading gu manually and just use it to test other pairs and different emas on diff tf.
You did well in posting this here, to avoid calling that thread to the first page.

The EA was already looking pretty good... the problem was with some of the "minor" rules (the little specific things that only happen rarely);
Those were tricky and wrongly coded due to misleading information in the first post... making it difficult to amend using El Dee's doc;

So the solution is to rewrite it all, from scratch. But for that we need no pressure, because the coder has other things to do, and he wanted to abandon the project, because he felt he couldn't achieve it, if done with a timeline target - that's why I gave him all the time he needs - I trust him and his work, and I know it will be great once concluded.

Like you said, we all can trade it manually - the EA will be a tool to test other pairs, timeframes or emas.
  • #2,582
  • Jan 8, 2009 5:32am Jan 8, 2009 5:32am
Got a doubt now. The red bar looks like is touching the upper ema. The high is 1.5108 and the ema value is 1.5109. Strictly following the values that would be a setup bar for a long, so the SL and the buy order would go to 1.5116, but it really looks like it's touching the ema. If the broker had a 5 digit price it would probably be about equal. What do we do now? Strictly follow the math or the glance?
Attached Image
  • #2,583
  • Jan 8, 2009 6:05am Jan 8, 2009 6:05am
Hi. I was wondering if it's possible to have a pip count for the month of December and also to update the 1st page with it. Thanks
  • #2,584
  • Jan 8, 2009 6:11am Jan 8, 2009 6:11am
Quoting alright
Got a doubt now. The red bar looks like is touching the upper ema. The high is 1.5108 and the ema value is 1.5109. Strictly following the values that would be a setup bar for a long, so the SL and the buy order would go to 1.5116, but it really looks like it's touching the ema. If the broker had a 5 digit price it would probably be about equal. What do we do now? Strictly follow the math or the glance?
I follow math and change SL for sell on 1.5116 and place pending buystop order with price 1.5116 and SL 1.4976 , which triggered any minutes ago and stop sell with -48 pips
Now on chart I have long
Godd luck
Peter
  • #2,585
  • Jan 8, 2009 6:20am Jan 8, 2009 6:20am
It looks like I have to reply to myself
Referring to my previous post and following the math, like it's probably best since this system does not rely on opinions, the SL and the buy order were triggered at 1.5116, thanks to the Official Bank Rate new. So now we should be long with SL and sell order set to 1.4976. Anyone confirm please?

Edit: Thanks for replying, Peter. When I posted I didn't realise you had replied already.
Attached Image
  • #2,586
  • Jan 8, 2009 6:28am Jan 8, 2009 6:28am
Quoting alright
It looks like I have to reply to myself
Referring to my previous post and following the math, like it's probably best since this system does not rely on opinions, the SL and the buy order were triggered at 1.5116, thanks to the Official Bank Rate new. So now we should be long with SL and sell order set to 1.4976. Anyone confirm please?

Edit: Thanks for replying, Peter. When I posted I didn't realise you had replied already.
we need wait for close bar , who know whats market show us
  • #2,587
  • Jan 8, 2009 6:37am Jan 8, 2009 6:37am
Quoting pitpiter
we need wait for close bar , who know whats market show us
That's right, silly me! Still making big mistakes like this... The learning process will take longer than expected. Thanks Peter
  • #2,588
  • Jan 8, 2009 9:00am Jan 8, 2009 9:00am
Quoting alright
That's right, silly me! Still making big mistakes like this... The learning process will take longer than expected. Thanks Peter

Just Keep on demoing. Trust the numbers, it will all work out.

It seems so simple the first time you read the system. But once you start trading it, you see all the little "quirks" of the system.

good luck
  • #2,589
  • Jan 8, 2009 9:03am Jan 8, 2009 9:03am
Sell setup candle formed.
SL moved to 1.5012.
Also Sell stop order @ 1.5012 with SL @ 1.5381 (369 pips! )
Someone take my hand and confirm I'm right please?
This Long so far has run for 257 pips and now it's retracing...
  • #2,590
  • Jan 8, 2009 9:11am Jan 8, 2009 9:11am
Quoting alright
Sell setup candle formed.
SL moved to 1.5012.
Also Sell stop order @ 1.5012 with SL @ 1.5381 (369 pips! )
Someone take my hand and confirm I'm right please?
This Long so far has run for 257 pips and now it's retracing...
right all correct , just SL for pending sellstop on my chart is 1.5382
good luck
Petrer
  • #2,591
  • Jan 8, 2009 9:12am Jan 8, 2009 9:12am
Quoting alright
Sell setup candle formed.
SL moved to 1.5012.
Also Sell stop order @ 1.5012 with SL @ 1.5381 (369 pips! )
Someone take my hand and confirm I'm right please?
This Long so far has run for 257 pips and now it's retracing...

sl @5382 according to alpari
  • #2,592
  • Jan 8, 2009 9:51am Jan 8, 2009 9:51am
I'm using Alpari too. When I posted, my high was 1.5373. After your replies I refreshed the chart and now it shows 1.5374

Just o change the subject, it seems like Sterling is still on vacation. I'm just curious, does anyone have the pip count for December?
  • #2,593
  • Jan 8, 2009 9:53am Jan 8, 2009 9:53am
Trade#5
Sell @ 1.5061 out 1.5117 = -56 pips

Trade#6
Sell @ 1.5117 still in the trade (this trade is saved by the rule by 1 pips)

Total = 77 -29 + 198 -127 -56 = +63 pips

Trade#4 I missed the stop out and reverse rule.
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  • #2,594
  • Jan 8, 2009 1:02pm Jan 8, 2009 1:02pm
1st failed reversal bar.
Everything remains as is.
  • #2,595
  • Jan 8, 2009 5:03pm Jan 8, 2009 5:03pm
And now we cut +111 pips from closed buy and wait for set up bar
good luck
Peter
  • #2,596
  • Jan 8, 2009 5:04pm Jan 8, 2009 5:04pm
2nd failed reversal bar.
50% rule applies. Since the 50% is at 1.5245 and the price at the close of the bar (1.5228) is below that level, the trade is closed immediately at 1.5231 with a profit of 115 pips.
We'll wait for next setup bar now.

Edit: Oops, you were quicker than me, Peter.
  • #2,597
  • Jan 8, 2009 5:12pm Jan 8, 2009 5:12pm
Quoting alright
2nd failed reversal bar.
50% rule applies. Since the 50% is at 1.5245 and the price at the close of the bar (1.5228) is below that level, the trade is closed immediately at 1.5231 with a profit of 115 pips.
We'll wait for next setup bar now.

Edit: Oops, you were quicker than me, Peter.
I realy don't know can You close buy order with Ask - price ( Your broker can be not happy with that )
  • #2,598
  • Jan 8, 2009 5:32pm Jan 8, 2009 5:32pm
Hi guys,
I think the 50% rule only apply if current trade profit more than 150 pips. The current trade profits under 150 pips, so I leave my stop at orginal. Please correct me if I am wrong. Thanks.
  • #2,599
  • Jan 8, 2009 5:38pm Jan 8, 2009 5:38pm
Quoting patrick25
Hi guys,
I think the 50% rule only apply if current trade profit more than 150 pips. The current trade profits under 150 pips, so I leave my stop at orginal. Please correct me if I am wrong. Thanks.
You're wrong

Rule applies when the trade was at any point above 150 pips in profit;
So you calculate the distance from point of entry to the maximum profit you were ever at, cut 50%, and you get the number.

They have the right numbers and took the right decisions.
  • #2,600
  • Jan 8, 2009 6:04pm Jan 8, 2009 6:04pm
Hi Tonirai,
I understand it now, thanks again.
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