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4H 5EMA System

  • #2,641
  • Jan 16, 2009 1:06am Jan 16, 2009 1:06am
After 2 more subsequent short setup bars the current situation is:
SL and pending reversal sell order @ 1.4757 + opposite buy SL @ 1.4899.
Attached Image
  • #2,642
  • Jan 16, 2009 7:13am Jan 16, 2009 7:13am
SL and and pending reversal sell order moved to 1.4799 + opposite buy SL @ 1.4966. I hope the lack of replies here means I'm getting it right.
Attached Image
  • #2,643
  • Jan 16, 2009 7:18am Jan 16, 2009 7:18am
you are correct Alright
  • #2,644
  • Jan 16, 2009 9:43am Jan 16, 2009 9:43am
Thanks bhupinder.
Long closed @ 1.4890 with a 244 pip profit. for sterling...
Sell order triggered @ 1.4890 and SL in place @ 1.4988.
Attached Image
  • #2,645
  • Jan 16, 2009 10:22am Jan 16, 2009 10:22am
Trade#11
Buy @ 1.4638 out 1.4872 = +234 pips
should have been closed @ 1.4890, but the last minute the price was moving and making new low until closed then the news came out with the new candle.

Trade#12
Sell @ 1.4870 trade still on(entry and exit were a bit off during news)

current total=+198 pips
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  • #2,646
  • Jan 16, 2009 3:41pm Jan 16, 2009 3:41pm
Trade#12
Sell @ 1.4870 closed out @ 1.4737 five minute before broker closing time 4pm Estern = +133 pips

Current total = +331 pips (this is only based on my trades and I made a few mistakes along the way).

Recharge and ready for next week(been waking up once everyday @ 2:50 AM for 2 weeks trading and loving it=.
  • #2,647
  • Jan 17, 2009 2:00am Jan 17, 2009 2:00am
Thanks Patrick for keeping the score

So far as i've notices there were only small mistakes and don't think it affected the outcome too much.
  • #2,648
  • Jan 17, 2009 2:56am Jan 17, 2009 2:56am
Hey guys! I havent been in the thread in a long time and I would like to appologize for that....I fully trust others who know the system took the place of me and answered questions while I was gone....I will get a up to date pip count for last month and a up to dat pip count for the current month. I dont have time at present to do the charts for this month, as I said I have a lot going on in my life outside of trading and that is why I was gone. Im back tho and look forward to picking up where I left of and listening to any new ideas people may have come up with. Glad to be back see you guys tomorrow

-Sterling
Founder of Day Trading Forex Live
  • #2,649
  • Jan 17, 2009 4:20am Jan 17, 2009 4:20am
Good to see you again Sterling.
Toni and Howard kept your place so don't worry.
  • #2,650
  • Edited 1:49am Jan 19, 2009 1:33am | Edited 1:49am
Hello. It seems like we start the week with a short at 1.4782 and a stop loss at 1.4917.
Nice to see you back, Sterling.
Attached Image
  • #2,651
  • Jan 19, 2009 2:24am Jan 19, 2009 2:24am
Hi Alright. Can you please post the entire chart screen so we can see scale of chart also?

AlexL
  • #2,652
  • Jan 19, 2009 3:47am Jan 19, 2009 3:47am
Hi All,
Belated Happy New Year everyone.
Just thought I'd post an update on the daily system which I've been trading live now since 24/11/08 and have just had my FIRST LOSS!!!

Results to date are:
24/11/08 Buy +239
28/11/08 Sell +486
07/12/08 Buy +392
18/12/09 Sell +529
31/12/09 Buy +336
12/01/09 Sell +367
16/01/09 Buy -43
19/01/09 Sell Open
Total 2306.

Trades left open over weekends and holiday, all other rules as per 4 hr rules with a few minor tweaks.
Isn't this system great?
You don't have to be right, just don't be too wrong
  • #2,653
  • Jan 19, 2009 4:28am Jan 19, 2009 4:28am
Quoting El Dee
Hi All,
Belated Happy New Year everyone.
Just thought I'd post an update on the daily system which I've been trading live now since 24/11/08 and have just had my FIRST LOSS!!!

Results to date are:
24/11/08 Buy +239
28/11/08 Sell +486
07/12/08 Buy +392
18/12/09 Sell +529
31/12/09 Buy +336
12/01/09 Sell +367
16/01/09 Buy -43
19/01/09 Sell Open
Total 2306.

Trades left open over weekends and holiday, all other rules as per 4 hr rules with a few minor tweaks.
Isn't this system great?
It is great indeed
Regards
  • #2,654
  • Jan 19, 2009 5:33am Jan 19, 2009 5:33am
Great results El Dee.
That loss is insignificant compared with the winnings you realised.
It aroused my interest this daily method.
Looking forward to the results at the end of this month and i will start studying it and test it soon.
Thanks for your effort El Dee.

AlexL
  • #2,655
  • Edited 6:23am Jan 19, 2009 5:45am | Edited 6:23am
Quoting alright
Hello. It seems like we start the week with a short at 1.4782 and a stop loss at 1.4917.
Nice to see you back, Sterling.
Hi everybody , may be I'm wrong , but as for me this week start with open buy from 1.4874 and SL 1.4676 , which was stop on previouse bar -59 pips and now I have short
from 1.4815 SL 1.4869
and buy stop
price 1.4869 SL 1.4621
and here is my chart.
Please somebody confirm or say where I'm wrong
Thanks
Peter
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  • #2,656
  • Jan 19, 2009 6:01am Jan 19, 2009 6:01am
You're wrong.
the 4 AM candle is the setup bar for sell. And the 8 AM candle is the reversal bar.

Quoting pitpiter
Hi everybody , may be I'm wrong , but as for me this week start with open buy from 1.4874 and SL 1.4676 , which was stop on previouse bar -295 pips and now I have short
from 1.4815 SL 1.4869
and buy stop
price 1.4869 SL 1.4621
and here is my chart.
Please somebody confirm or say where I'm wrong
Thanks
Peter
  • #2,657
  • Edited 6:25am Jan 19, 2009 6:13am | Edited 6:25am
Quoting AlexL
You're wrong.
the 4 AM candle is the setup bar for sell. And the 8 AM candle is the reversal bar.
And what with last candle from friday - it been set up bar for long , how we enter in situation like that?
Thanks Peter
Edit my previous post : long stop in my chart with -59 pips
  • #2,658
  • Jan 19, 2009 6:16am Jan 19, 2009 6:16am
El Dee,
Nice to see your results .

Can't wait to share my results as well, but will hold on to that until the end of this month.

Thanks
  • #2,659
  • Jan 19, 2009 6:23am Jan 19, 2009 6:23am
Quoting El Dee
Just thought I'd post an update on the daily system ...........all other rules as per 4 hr rules with a few minor tweaks.
Looks great El Dee!

Could you share what the few minor tweaks are?

Cheers,
Matt.
  • #2,660
  • Edited 7:33am Jan 19, 2009 7:28am | Edited 7:33am
From what i see in the attached chart:

16 jan:
16 PM candle was reversal bar for sell and triggered sell.
20 PM bar - nothing is happending
At 23:50-23:59 you should close any open position and wait for weekend to pass.

19 jan:
0 AM bar starts higher then friday last bar. Our previous position was a sell so we won't continue the order from friday. If it was a buy on friday before close, we would have continued with buy today. So we wait for new setup bars.
4 AM bar has higher high then previous bar so it becomes new setup bar for sell.
8 AM bar goes bellow previous bar's low so we enter sell.

I hope this clears up the mistery.
Any correction from veterans here is welcomed.

Edit:
You never use last candle of friday as possible setup bar for first candle on monday.
On monday, using first bar you only continue previous order closed before weekend in the following cases:
a) you were selling and closed for the weekend. if first bar of monday stars lower then closing time of friday then you continue with sell.
b) you were buying and closed for the weekend. if first bar of modany stars higher then closing time of friday then you continue with buy.


AlexL

Quoting pitpiter
And what with last candle from friday - it been set up bar for long , how we enter in situation like that?
Thanks Peter
Edit my previous post : long stop in my chart with -59 pips
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