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4H 5EMA System

  • #2,681
  • Jan 20, 2009 9:03am Jan 20, 2009 9:03am
Cool.
Ok. Will wait until then. Just signal us when the tweaks are in place.
Keep up the good job.

Quoting El Dee
I'm just re-writing the 4 hr rules (Post 2472) for Daily, including tweaks, and will post them. Give me a day or so.
Mrs Dee is now trading the daily live and was very happy with her account balance this morning!
  • #2,682
  • Jan 20, 2009 10:14am Jan 20, 2009 10:14am
Quoting El Dee
I'm just re-writing the 4 hr rules (Post 2472) for Daily, including tweaks, and will post them. Give me a day or so.
Mrs Dee is now trading the daily live and was very happy with her account balance this morning!

New to this thread. I've been lurking in the shadows for
about a week and second time through the rules. I'm
interested in trading the larger time frames such as the
4HR and Daily. I appreciate your thorough explanations
and all who have contributed. Too bad there isn't more
sharing going on for those who are learning the method.

One thing needed....more current charts labeled illustrating the rules.

Thanks to all,

Dr. D.

Now with the limited time required in analysis I'll have more time.......
  • #2,683
  • Jan 20, 2009 10:34am Jan 20, 2009 10:34am
Anyone willing to post the current (4HR - 1600 GMT)
parameters with charts for the 4HR.

Current buy setup bar -
Reverse bar -
Pending buy stop price -
etc., etc., etc.

Thanks,

Dr. D.
  • #2,684
  • Jan 20, 2009 10:35am Jan 20, 2009 10:35am
SL and pending buy adjusted to 1.4022, while the SL for the buy order goes to 1.3856.

@ fourxtrader
In the pic attached the red arrow marks the entry bar for the current short while the 2 horizontal lines at the bottom mark the levels I just updated. At the moment if the buy level is taken away it would be a 793 pip profit. Hoping it will still hold... Quite a cool system isn't it?

@ El Dee
Looking forward to the daily update.
Attached Image
  • #2,685
  • Jan 20, 2009 10:55am Jan 20, 2009 10:55am
Quoting alright
SL and pending buy adjusted to 1.4022, while the SL for the buy order goes to 1.3856.

@ fourxtrader
In the pic attached the red arrow marks the entry bar for the current short while the 2 horizontal lines at the bottom mark the levels I just updated. At the moment if the buy level is taken away it would be a 793 pip profit. Hoping it will still hold... Quite a cool system isn't it?

@ El Dee
Looking forward to the daily update.

Thanks for the chart and explanation.

Looks like my chart (IBFX) has the setup bar hi at 1.3992
plus the spread (4 pips) plus 5 so I'm in on a demo at 1.4001.

I realize there are differences in broker charts.

Critiques welcomed.

Dr. D.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr buystop 1.4001.gif Size: 46 KB
  • #2,686
  • Jan 20, 2009 11:00am Jan 20, 2009 11:00am
Here we use Alpari charts(bar open time 0,4,8,12,16,20 H).
Looking at yout charts the buy is correct.

Quoting fourxtrader
Thanks for the chart and explanation.

Looks like my chart (IBFX) has the setup bar hi at 1.3992
plus the spread (4 pips) plus 5 so I'm in on a demo at 1.4001.

I realize there are differences in broker charts.

Critiques welcomed.

Dr. D.
  • #2,687
  • Jan 20, 2009 11:10am Jan 20, 2009 11:10am
Quoting alright
SL and pending buy adjusted to 1.4022, while the SL for the buy order goes to 1.3856.

@ fourxtrader
In the pic attached the red arrow marks the entry bar for the current short while the 2 horizontal lines at the bottom mark the levels I just updated. At the moment if the buy level is taken away it would be a 793 pip profit. Hoping it will still hold... Quite a cool system isn't it?

@ El Dee
Looking forward to the daily update.
Congratulations on a profitable run.

So if your recent extended short trade has reversed
at the buy stop of 1.4022, does your previous SL at
1.3856 serve also as a pending sell stop order should
this current long reverse during this 4HR candle?

If so, where would you place a stop loss if this turns
south again and 1.3856 is filled?

Thanks,

Dr. D.
  • #2,688
  • Jan 20, 2009 11:20am Jan 20, 2009 11:20am
I'm a few days late to class enrollment so I missed
the run.

Congratulations for all who gathered hundreds
of pips this week from ~1.4800 down.

I'm already in profit on this reverse bar. Should I be
or am I cheating?

Comments welcomed,

Dr. D.
  • #2,689
  • Jan 20, 2009 11:25am Jan 20, 2009 11:25am
Per your charts, your buy order is set ok.

Quoting fourxtrader
I'm a few days late to class enrollment so I missed
the run.

Congratulations for all who gathered hundreds
of pips this week from ~1.4800 down.

I'm already in profit on this reverse bar. Should I be
or am I cheating?

Comments welcomed,

Dr. D.
  • #2,690
  • Jan 20, 2009 11:27am Jan 20, 2009 11:27am
You place the reverse sell order SL at the point where the buy order has opened, at 1.4022.

This aplies to all reversed trades.
By reversed trades i'm refering to trades that went agains you from the start and hit the SL.

For reversed trades, the SL is the previous order open price.
In case of reversed sell after buy, the SL for sell is the opening price of buy.
In case of reversed buy after sell, the SL for buy is the opening price of sell.

Quoting fourxtrader
Congratulations on a profitable run.

So if your recent extended short trade has reversed
at the buy stop of 1.4022, does your previous SL at
1.3856 serve also as a pending sell stop order should
this current long reverse during this 4HR candle?

[i][color=#0000ff]If so, where would you place a stop loss if this...
  • #2,691
  • Jan 20, 2009 11:43am Jan 20, 2009 11:43am
Quoting AlexL
You place the reverse sell order SL at the point where the buy order has opened, at 1.4022.

This aplies to all reversed trades.
By reversed trades i'm refering to trades that went agains you from the start and hit the SL.

For reversed trades, the SL is the previous order open price.
In case of reversed sell after buy, the SL for sell is the opening price of buy.
In case of reversed buy after sell, the SL for buy is the opening price of sell.

Thanks AlexL,

I'm curious... is the GU the preferred pair?
Anyone attempting to trade other pairs
with this method? Has Sterling advised
against any pairs like the GBP/JPY?
If not, I suspect there will be some serious
reversals going on with this volatile PA and
narrow parameters of this method.

Dr. D.

  • #2,692
  • Jan 20, 2009 11:49am Jan 20, 2009 11:49am
Quoting AlexL
You place the reverse sell order SL at the point where the buy order has opened, at 1.4022.

This aplies to all reversed trades.
By reversed trades i'm refering to trades that went agains you from the start and hit the SL.

For reversed trades, the SL is the previous order open price.
In case of reversed sell after buy, the SL for sell is the opening price of buy.
In case of reversed buy after sell, the SL for buy is the opening price of sell.
Reverse order rules for your attention:

4. Reversal Order


4.1 When the reversal bar has closed, a reverse stop order is now placed at the same level as the stop loss with a contingent stop loss at the opposite end of the reversal candle.
Thus, if the price now reverses through your stop loss, it triggers a stop order in the opposite direction and automatically places a new stop loss at the opposite end of the reversal bar.
At the close of this bar the stop loss is now moved to 5 pips (plus spread for a buy stop) behind the maximum value (for a short position) or minimum value (for a long position) that the price achieved before reversing.
Occasionally this will result in moving the stop loss away from the opening level.
Regards
  • #2,693
  • Jan 20, 2009 12:05pm Jan 20, 2009 12:05pm
Quoting howard
Reverse order rules for your attention:

4. Reversal Order


4.1 When the reversal bar has closed, a reverse stop order is now placed at the same level as the stop loss with a contingent stop loss at the opposite end of the reversal candle.
Thus, if the price now reverses through your stop loss, it triggers a stop order in the opposite direction and automatically places a new stop loss at the opposite end of the reversal bar.
[font=Tahoma]At the close of...

I've now copied these rules and tutorials for continued study.

Looks like I need to unplug the (emotional) right-half
of my brain as I enter the trading room and rely on the
(analytical) left-half brain for purely mechanical trading.

Thanks again,

Dr. D.
  • #2,694
  • Jan 20, 2009 12:11pm Jan 20, 2009 12:11pm
Yes, you're right Howard. I remaind with some of the old rules

Quoting howard
Reverse order rules for your attention:

4. Reversal Order


4.1 When the reversal bar has closed, a reverse stop order is now placed at the same level as the stop loss with a contingent stop loss at the opposite end of the reversal candle.
Thus, if the price now reverses through your stop loss, it triggers a stop order in the opposite direction and automatically places a new stop loss at the opposite end of the reversal bar.
[font=Tahoma]At the close of this...
  • #2,695
  • Edited 1:11pm Jan 20, 2009 12:52pm | Edited 1:11pm
Quoting fourxtrader
Thanks for the chart and explanation.

Looks like my chart (IBFX) has the setup bar hi at 1.3992
plus the spread (4 pips) plus 5 so I'm in on a demo at 1.4001.

I realize there are differences in broker charts.

Critiques welcomed.

Dr. D.
You might want to download MT4 demo from Alpari US which is the one that people use for the signals on the thread, and then place the trades with your own broker.
i see other people more qualified than me have answered your other questions already. About other currencies, there was someone testing them as well but it seems they're not as profitable as GU. I might be wrong though...
  • #2,696
  • Edited 3:52pm Jan 20, 2009 1:02pm | Edited 3:52pm
Meanwhile the party is over for now and the trade was closed with a whopping 793 pip profit (only? ) .
We are long now and, since the reversal bar has just closed, we also set a sell stop order at the same level as the SL: 1.3910.
  • #2,697
  • Jan 20, 2009 1:06pm Jan 20, 2009 1:06pm
Quoting howard
Reverse order rules for your attention:

4. Reversal Order


4.1 When the reversal bar has closed, a reverse stop order is now placed at the same level as the stop loss with a contingent stop loss at the opposite end of the reversal candle.
Thus, if the price now reverses through your stop loss, it triggers a stop order in the opposite direction and automatically places a new stop loss at the opposite end of the reversal...
This rule (4.1) is narrowly playing out before our eyes.
Anyone have their stop loss / new sell stop order (1.3856)
off of the buy stop (1.4022) get filled?

My platform came very close reaching a low of 1.3861,
so I'm still in the long position.

Dr. D.
  • #2,698
  • Jan 20, 2009 1:11pm Jan 20, 2009 1:11pm
download MT4 demo from Alpari US

WILL DO!
  • #2,699
  • Jan 20, 2009 1:40pm Jan 20, 2009 1:40pm
Don't trade the GBP/JPY with this system and
during a consolidation period unless you widen
your peripheral vision and stops...
you'll be blindsided from multiple directions.

I've already experienced a double whiplash.
I'm now working on a trifecta. LOL

Fortunately, it's only in my imagination (demo account).

Dr. D.
  • #2,700
  • Edited 5:33pm Jan 20, 2009 4:12pm | Edited 5:33pm
Reversal short triggered, trade closed at -112. Now we're in from 1.3856, with SL at 1.4061.

@ AlexL
I'm taking the pics while showing the scale as well this time. I hate cluttering up the thread with big pics.
Attached Image
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