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4H 5EMA System

  • #2,781
  • Jan 23, 2009 10:07am Jan 23, 2009 10:07am
Quoting pitpiter
I hope , she want fix document ,and You must wait or I can send You on e-mail , version , which I get.
Regards
Peter
It's ok Peter, there's no hurry. I'll wait for the updated version. Thank you anyway.
BTW I didn't know El Dee was a "she". It's a nice surprise to have a lady among us, and also awfully clever.
  • #2,782
  • Jan 23, 2009 10:08am Jan 23, 2009 10:08am
Quoting pitpiter
Thanks a lot.
Quik question.
If my situation looking like on pic , current bar make new lower , and now I hope it be new setup bar for long .
I need change stoploss for sell and change buystop order on data from current bar before market stop , or after market start with mondays candle?
Thanks
Peter
Sorry , forget attach chart
Attached Image (click to enlarge)
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  • #2,783
  • Jan 23, 2009 10:13am Jan 23, 2009 10:13am
Quoting alright
It's ok Peter, there's no hurry. I'll wait for the updated version. Thank you anyway.
BTW I didn't know El Dee was a "she". It's a nice surprise to have a lady among us, and also awfully clever.
Why was ?? She IS a Lady
Good luck.
  • #2,784
  • Jan 23, 2009 10:14am Jan 23, 2009 10:14am
Quoting pitpiter
Thanks a lot.
Quik question.
If my situation looking like on pic , current bar make new lower , and now I hope it be new setup bar for long .
I need change stoploss for sell and change buystop order on data from current bar before market stop , or after market start with mondays candle?
Thanks
Peter
Hi Peter,
Not sure if you mean Daily or 4hr; on 4hr we close 5 mins b4 end of trading session on Friday.
On Daily, my preference is to leave orders untouched on Friday and wait until Friday's bar has closed on Sunday before making changes.
I'm in the UK so trading starts at 9pm on Sunday with Monday's bar starting at midnight; I wait till midnight on Sunday b4 I change the stop loss and contingent orders on Friday's bar.
The reason is that if it gaps on opening, the market will usually fill the gap so I don't want to be reversed by any opening volatility.
Hope this makes sense and answers the question that you were asking!
You don't have to be right, just don't be too wrong
  • #2,785
  • Jan 23, 2009 10:21am Jan 23, 2009 10:21am
Quoting El Dee
Hi Peter,
Not sure if you mean Daily or 4hr; on 4hr we close 5 mins b4 end of trading session on Friday.
On Daily, my preference is to leave orders untouched on Friday and wait until Friday's bar has closed on Sunday before making changes.
I'm in the UK so trading starts at 9pm on Sunday with Monday's bar starting at midnight; I wait till midnight on Sunday b4 I change the stop loss and contingent orders on Friday's bar.
The reason is that if it gaps on opening, the market will usually fill the gap so I don't want to be reversed by any opening volatility.
Hope...
I mean daily. And yes , Your answer is full and makes sens .
Thanks so much.
Peter
  • #2,786
  • Edited 11:53am Jan 23, 2009 10:29am | Edited 11:53am
Quoting pitpiter
Why was ?? She IS a Lady
Good luck.
Sorry guys, hate to dissapoint you but it's Mr El Dee!! LD are my initials!
http://www.bbc.co.uk/nottingham/cont...00_400x300.jpg
You don't have to be right, just don't be too wrong
  • #2,787
  • Jan 23, 2009 10:47am Jan 23, 2009 10:47am
Quoting El Dee
Sorry guys, hate to dissapoint you but it's Mr El Dee!! LD are my initials!
What a disappointment! Pitpiter made believe it was a lovely girl taking us by hand around the corners of Sterling's system.
Well, too bad! As long as you carry on with the nice job you're doing here, we forgive you for not being a lady, El Dee...
  • #2,788
  • Jan 23, 2009 11:03am Jan 23, 2009 11:03am
[quote=pitpiter;2489159 ]I hope , when You careful read this doc , You find more answer on Your question and if after that left some , please ask
Thanks for answer. Really - I read rules several times and find many answers, still some questions of couse, not sure that some understand correctly.
I will put all questions on paper within two days.

Reagards
  • #2,789
  • Jan 23, 2009 11:08am Jan 23, 2009 11:08am
Quoting pitpiter
I hope , when You careful read this doc , You find more answer on Your question and if after that left some , please ask
All metatrader looking similary , but every broker have his own ticks data , which different for other brokers and some brokers have different time for 4H and daily candles , it why I recomended You Alpari US . We all in this thread use this one and in this case will easer way to answer Your questions.
Good luck
Peter
PS
current situation on my chart
sell from 1.3683 SL 1.3922 and looking as current bar will set up bar for long , but need wait 20 min
Thanks for answer. Really - I read rules several times and find many answers, still some questions of couse, not sure that some understand correctly.
I will put all questions on paper within two days.
Alpary US - understand - I will try

Reagards
  • #2,790
  • Jan 23, 2009 11:38am Jan 23, 2009 11:38am
Quoting El Dee
Peter - yes, you are right, this is the same as bar 9 which also did not make a new low and was therefore not a setup bar - well spotted, document ammended!
El Dee,

So will this amendment to the 4H also be applied and made with the Daily rules?

Where under section
4.8
these items in 3 and 4 will read the same in both documents?

 

  1. .
  2. .
  3. Reversal bar that fills the buy stop order placed on bar ‘2’. The reverse sell stop order is placed 5 pips below bar 2 when bar 3 closes with a contingent stop loss at 5 pips plus spread above the highest point of bar 3.
  4. Bar 4 hits the stop loss and triggers sell stop order placed below bar ‘2’. Note – see point 4.7 above – Exception to the rule; as this sell order is the result of a full stop loss, no reverse buy stop order is placed above this bar when it closes.


Thanks for all your efforts,

Dr. D.

  • #2,791
  • Jan 23, 2009 11:56am Jan 23, 2009 11:56am
Quoting fourxtrader
El Dee,

So will this amendment to the 4H also be applied and made with the Daily rules?

Where under section
4.8
these items in 3 and 4 will read the same in both documents?


Dr. D.
Yes, ammendment applies to Daily and 4 hrs
You don't have to be right, just don't be too wrong
  • #2,792
  • Jan 23, 2009 2:06pm Jan 23, 2009 2:06pm
Quoting El Dee
Sorry guys, hate to dissapoint you but it's Mr El Dee!! LD are my initials!
http://www.bbc.co.uk/nottingham/cont...00_400x300.jpg
Uuuups
Sorry El Dee , but after Your post http://www.forexfactory.com/showpost.php?p=2480902&postcount=2680 I been comletly sure about You girl.
Sorry one time more , english is not my mother languige .
Peter.
  • #2,793
  • Jan 23, 2009 2:13pm Jan 23, 2009 2:13pm
Quoting viktordoktor
Thanks for answer. Really - I read rules several times and find many answers, still some questions of couse, not sure that some understand correctly.
I will put all questions on paper within two days.
Alpary US - understand - I will try

Reagards
Hello , if better and uderstandable answer for You will be in russian e-mail me .
Regards
Peter
  • #2,794
  • Jan 23, 2009 2:19pm Jan 23, 2009 2:19pm
After second faild reversal bar we need delet pending buy order and apply 50% rule , with which we close our sell -90 pips
And now flat...
Regards
Peter.
  • #2,795
  • Jan 23, 2009 2:24pm Jan 23, 2009 2:24pm
Quoting pitpiter
After second faild reversal bar we need delet pending buy order and apply 50% rule , with which we close our sell -90 pips
Regards
Peter.

Could you show a current chart
with numbers of entry and exit on
this trade to illustrate this rule?

Thanks,

Dr. D.
  • #2,796
  • Jan 23, 2009 2:34pm Jan 23, 2009 2:34pm
Over the weekend, it would be nice if someone who
clearly understands all the rules and knows what they
are doing could shows charts (much like El Dee has done
in his word.docs) identifying all the (potential) trades for
this week and labeling each of the candles (set-up, reverse,
failed reverse, close, buy and sell stop orders). It would help
those of us who are new shadow your trades in our learning.

Thanks,

Dr. D.
  • #2,797
  • Edited 4:02pm Jan 23, 2009 3:09pm | Edited 4:02pm
Quoting fourxtrader
Could you show a current chart
with numbers of entry and exit on
this trade to illustrate this rule?

Thanks,

Dr. D.
Sure.
On bar A was triggered revers order sell.
A is set up bar for long .
On bar B and C price do not reach level to go long 1.3797 (blue horizontal line ) any words both B and C are failed reversal bars.
Open price for our sell was 1.3684 , the low from bar A was 1.3502 , what give us potential profit 182 pips >150 , it decide apply 50% rule we math our new stoploss for sell :
(OP+Low(bar A))/2=1.3593 (yellow line ) open price for next bar after C is 1.3773(Ask) is higher as our new SL and with 50% rule in situation like that we need close sell as faster as we can.
I think that's it.
Regards
Peter
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  • #2,798
  • Jan 23, 2009 4:21pm Jan 23, 2009 4:21pm
Quoting pitpiter
Sure.
On bar A was triggered revers order sell.
A is set up bar for long .
On bar B and C price do not reach level to go long 1.3797 (blue horizontal line ) any words both B and C are failed reversal bars.
Open price for our sell was 1.3684 , the low from bar A was 1.3502 , what give us potential profit 182 pips >150 , it decide apply 50% rule we math our new stoploss for sell :
(OP+Low(bar A))/2=1.3593 (yellow line ) open price for next bar after C is 1.3773(Ask) is higher as our new SL and with 50% rule in situation like that we need close sell...
Thanks Peter for this effort. I and others
surely will study this over the weekend.

Dr. D.
  • #2,799
  • Jan 23, 2009 8:02pm Jan 23, 2009 8:02pm
Love the expanded version of the rules El Dee - thanks. I tried to rewrite a while back but I did not have the success you have. After trading this for a time and not doing as well with the sleep interruption as I did with the trades, I took a break. The break has lasted a couple of month and now I find the 24H version - sweet!

Kudos to Sterling and all that help with his (and howards, yea?) creation.
  • #2,800
  • Edited 8:32pm Jan 25, 2009 8:20pm | Edited 8:32pm

This may be elementary to some but I hope it will be a good training exercise for others.


Who would be willing to offer the potential trades possibilities based on the 4H 5EMA method from the following alpari chart pattern?

I'll also take a shot at it and welcome any corrections or comments. (I'll use 4 pips as the broker's spread)


I have listed the high and low of each candle as well as the 5 EMA value when appropriate.

CANDLE:


A high - 1.3789 2009.01.23 08:00 GMT
low - 1.3502


B low - 1.3532 2009.01.23 12:00 GMT
high - 1.3726


C low - 1.3606 2009.01.23 16:00 GMT
high - 1.3773


D high - 1.3819 2009.01.23 20:00 GMT
low - 1.3749


TRADE CLOSED 5 MIN BEFORE BROKER CLOSE


GAP DOWN


E high - 1.3684 2009.01.26 00:00 GMT
low -


Here's my trade analysis:


A candle:
* may be in a sell / short trade for some
* penetrates + 5 pips below the 5 EMA blue line (1.3673)
* reaches a new low below 5 EMA to qualify as a long setup candle / bar
* at its close a contingent buy stop order (and stop loss) is place and pending above its high @ 1.3798 (1.3789 plus 5 pips + spread)



B candle:
* fails to make a lower low
* qualifies as a failed reverse candle because it does not make a new high or fill the buy order
* at its close the buy stop order (and stop loss) is repositioned above its high @ 1.3541 (1.3532 plus 5 pips + spread)


C candle:
* fail to make a lower low from B candle but continues up as a second reverse candle and fills the buy order placed above B candle by closing any existing sell trade from A candle or before
* makes a higher high
* a its close a contingent stop loss and sell stop order are placed 5 pips below its low @ 1.3768


D candle:
* penetrates + 5 pips the 5 EMA red line (1.3804)
* reaches a new high to qualify as a short setup candle / bar
* trade is closed during D candle 5 minutes before broker closes



GAP DOWN


E candle:
* in the gap down qualifies as a reverse candle / bar and when trading resumes a sell order is immediately opened
* price action penetrates + 5 pips the 5 EMA blue line (1.3624)
* reaches a new low below the 5 EMA to qualify as a long set up candle / bar
* at its close a contingent buy stop order 'will be' placed above its high (plus 5 pips plus spread)


I look forward to any comments or corrections.


Dr. D.

Attached Image (click to enlarge)
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