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4H 5EMA System

  • #2,841
  • Jan 26, 2009 2:43pm Jan 26, 2009 2:43pm
Quoting tonirai
Yes, that's the current situation (near the SL of 1.4003).
Nothing has changed since we talked earlier.
Toni,
I have noticed after doing this system from the beginning that with only one exception, the first short after a big move is a loser.
Any thoughts?
Michael
  • #2,842
  • Jan 26, 2009 2:49pm Jan 26, 2009 2:49pm
Quoting alllivemind
Toni,
I have noticed after doing this system from the beginning that with only one exception, the first short after a big move is a loser.
Any thoughts?
Michael
Wow! Now that's the kind of observation that I love - well spotted - your Mind is Alive!
You don't have to be right, just don't be too wrong
  • #2,843
  • Jan 26, 2009 4:47pm Jan 26, 2009 4:47pm
[quote=pitpiter;2494492 ]

sp - I mean spred

Question 2:sell stop for rev.order on the level of S/L for set up bar N1?
or 5 pips+spread below reversal bar N2 Low (in this situations both are aprox the same)

Peter- please, comment my this question.

Question: I should keep not closed all previous orders I have placed during the trade (sell stop, S/L)?

Also: bar4 and I have profit 2 500. Trade go down and I partly loose my profit 2 300, 2000, ..... etc. But as I should not stop manualy - I shall wait and place further orders after each bar closed according the rules.
Is it correct?

Is my chart looks like your?

Please, send me your e-mail, I understand russian better, only can not write quckly in russian.

Regards
  • #2,844
  • Jan 26, 2009 5:02pm Jan 26, 2009 5:02pm
Quoting alllivemind
Toni,
I have noticed after doing this system from the beginning that with only one exception, the first short after a big move is a loser.
Any thoughts?
Michael

On average how big of a move is big? Can we quantifiy this? Is there a possible rule in here somewhere? hmmmmmm. thoughts....

Great obserbvation...you really are allive in mind....lol
  • #2,845
  • Jan 26, 2009 8:22pm Jan 26, 2009 8:22pm
Hello, newbie trader here
I've been reading about this trading system and would like to try it out.
what is the success rate?
Thanks
~What u see is what you get, no predictions in the Forex Market~
  • #2,846
  • Jan 27, 2009 12:38am Jan 27, 2009 12:38am
Quoting Traderali
Hello, newbie trader here
I've been reading about this trading system and would like to try it out.
what is the success rate?
Thanks
Welcome to the thread!
On average 600+ pips per month
You don't have to be right, just don't be too wrong
  • #2,847
  • Jan 27, 2009 2:06am Jan 27, 2009 2:06am
Quoting Traderali
Hello, newbie trader here
I've been reading about this trading system and would like to try it out.
what is the success rate?
Thanks

And why pray tell isn't there a provision in this
trading system that allows for 'late entries' into
huge moves such as CANDLE A thru CANDLE B
or 'reversal entries' into large moves such as
CANDLE C thru CANDLE D?

Something is seriously wrong with this or any
method that leaves you sitting on your hands,
and the sidelines for hours or even days at a
time as pips slip past your gaze.

Hoping that I have overlooked some key rule.

Dr. D.
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  • #2,848
  • Jan 27, 2009 2:20am Jan 27, 2009 2:20am
Quoting fourxtrader
And why pray tell isn't there a provision in this
trading system that allows for 'late entries' into
huge moves such as CANDLE A thru CANDLE B
or 'reversal entries' into large moves such [size=4][color=blue][i][b]as...
Hello Dr D

You are quite right, the solution maybe to switch to daily.
Regards
  • #2,849
  • Jan 27, 2009 3:25am Jan 27, 2009 3:25am
Quoting fourxtrader
And why pray tell isn't there a provision in this
trading system that allows for 'late entries' into
huge moves such as CANDLE A thru CANDLE B
or 'reversal entries' into large moves such [size=4][color=blue][i][b]as...
Guys,

I didn't make the rules (only learned them), so Sterling and Hiranya should be answering this one;

But I guess the thing is this system is made to take every signal... meaning to check the status every 4h and act accordingly;

Now if we don't, and miss a big move, or if we get flat and a big move starts...
What tells you that the movement will continue if you enter after some bars have passed? The longer the movement lasts, the more it can stop at any moment!

No pips is better than lost pips.

About the current flat situation, and the reasons why we haven't placed a buy stop at the SL for the loosing short that made us flat:

First reason (already explained) is because we only manage trades every 4h;
We were long, so we placed a sell stop & its SL on the previously closed setup bar levels... if we had also placed a buy stop, we could have found ourselves with two buy live orders, if the bar didn't come down and had continued straight up;
Placing it after the short was triggered means checking the bars regularly and is against what this system is all about, which is managing trades every 4h;

Second reason is also related to managing the trade every 4h;
If we would have placed a buy stop with the short's SL... we wouldn't have a SL level for it, because the bar was still forming and you don't know what low it's going to make.
  • #2,850
  • Jan 27, 2009 3:37am Jan 27, 2009 3:37am
Quoting alllivemind
Toni,
I have noticed after doing this system from the beginning that with only one exception, the first short after a big move is a loser.
Any thoughts?
Michael
Do you mean only the first short (after a big long), or the first trade in general (after a big move, regardless of the direction)?

As mentionned, the problem would be to quantify "a big move";
And after that, maybe the solution would be to remove the pending order in those situation, get stopped, and then wait for a new setup bar (starting fresh from the next bar).

Something to look back on charts, yes.
  • #2,851
  • Jan 27, 2009 3:50am Jan 27, 2009 3:50am
Quoting fourxtrader
And why pray tell isn't there a provision in this
trading system that allows for 'late entries' into
huge moves such as CANDLE A thru CANDLE B
or 'reversal entries' into large moves such [size=4][color=blue][i][b]as...
Dr. D,
On my first trade on daily I 'forced' my entry - that is, I put a buy stop above and a sell stop below a closed daily bar on a strongly rising trend; as expected I was soon in a buy.
The candle reversed in the middle of the following day and took me out for a substantial stop loss - I was greedy and impatient. If I'd followed the rules and just placed the sell stop under the setup bar I'd have been in a profitable sell the following day without having taken the hit.
There's nothing "seriously wrong" with a system that gives over 600 pips a month for following a purely mechanical, zero emotion system - to the contrary - it's a fantastic system!
As I mentioned above, once you're in, your rarely out so be patient!

As Howard points out, in the daily rules we have made tweaks that address flat periods following stop outs and 50% rule but these apply to daily timeframe only.

Regards, El Dee
You don't have to be right, just don't be too wrong
  • #2,852
  • Jan 27, 2009 6:20am Jan 27, 2009 6:20am
Quoting El Dee
Dr. D,
On my first trade on daily I 'forced' my entry - that is, I put a buy stop above and a sell stop below a closed daily bar on a strongly rising trend; as expected I was soon in a buy.
The candle reversed in the middle of the following day and took me out for a substantial stop loss - I was greedy and impatient. If I'd followed the rules and just placed the sell stop under the setup bar I'd have been in a profitable sell the following day without having taken the hit.
There's nothing "seriously wrong" with a system that gives over 600 pips...
I'm honored. Howard, Tonirai and El Dee

Thanks for the proper and kindly responses from the elite in this group.

I was only venting. I lack patience..... since I see them (patients) all day long. LOL

I would dearly love to pattern my trading after this (a) style that frees
one to live a life away from the PC.

I will carry on and continue to glean from the wisdom of others.

Thanks again.

Duct taping my hands to the chair....

Dr. D.

Actually, I see that a trade signal has been triggered.

sell-stop ordered filled @ 1.4049
S/L placed @ 1.4251
T/P placed @ (is there a guideline on this selection?)

Is this trade correct?
  • #2,853
  • Jan 27, 2009 6:35am Jan 27, 2009 6:35am
Quoting tonirai
Guys,

I didn't make the rules (only learned them), so Sterling and Hiranya should be answering this one;

But I guess the thing is this system is made to take every signal... meaning to check the status every 4h and act accordingly;

Now if we don't, and miss a big move, or if we get flat and a big move starts...
What tells you that the movement will continue if you enter after some bars have passed? The longer the movement lasts, the more it can stop at any moment!

No pips is better than lost pips.

About the current flat situation, and...

Thanks for the reasoning and logic.
  • #2,854
  • Jan 27, 2009 7:55am Jan 27, 2009 7:55am
Hi El Dee,
Any update on your daily trading?
I've looked back a couple of pages and didn't see any.

AlexL
  • #2,855
  • Jan 27, 2009 8:41am Jan 27, 2009 8:41am
Hi Alex

Maybe I could reply to your query addressed to El Dee

The latest short from 1.4643 was closed at 1.3901 and reverse long entered at the same level.

Position still long.
Regards
  • #2,856
  • Jan 27, 2009 8:45am Jan 27, 2009 8:45am
Quoting AlexL
Hi El Dee,
Any update on your daily trading?
I've looked back a couple of pages and didn't see any.

AlexL
Hi Alex,
I think I was still short from the 18th on my last post - so..
18/1/09 Short +758pips
26/1/09 Long - still open, if no lower low today then +31
You don't have to be right, just don't be too wrong
  • #2,857
  • Jan 27, 2009 8:52am Jan 27, 2009 8:52am
Quoting El Dee
Hi Alex,
I think I was still short from the 18th on my last post - so..
18/1/09 Short +758pips
26/1/09 Long - still open, if no lower low today then +31
It seems as if candle close at 24GMT is doing slightly better than close at 23 GMT.

That is so far, in long run it should not make considerable difference.
Regards
  • #2,858
  • Jan 27, 2009 8:59am Jan 27, 2009 8:59am
Quoting howard
It seems as if candle close at 24GMT is doing slightly better than close at 23 GMT.

That is so far, in long run it should not make considerable difference.
I think the UK brokers are more generous than US brokers
You don't have to be right, just don't be too wrong
  • #2,859
  • Jan 27, 2009 9:00am Jan 27, 2009 9:00am
Thanks for the info guys.
El, Dee, I think you reached 1000 pips untill now for the moth right?

Quoting El Dee
Hi Alex,
I think I was still short from the 18th on my last post - so..
18/1/09 Short +758pips
26/1/09 Long - still open, if no lower low today then +31
  • #2,860
  • Edited 9:15am Jan 27, 2009 9:04am | Edited 9:15am
I was wondering why things had stalled just short of the number
1.4200 and near the S/L @ ~1.4191 for the current short trade.

In looking at a daily pivot / support and resistance chart it
seems we're testing resistance 2 levels @ 1.4179 for the 4th time.

Of course this could be useful for either the 4H or daily method.

This chart is not alpari. It's off of a 9, 1, 5 time frame. If things
will close above this resistance that'll be good for the daily trades.

Dr. D.
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