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4H 5EMA System

  • #2,861
  • Jan 27, 2009 11:11am Jan 27, 2009 11:11am
Quoting AlexL
Thanks for the info guys.
El, Dee, I think you reached 1000 pips untill now for the moth right?
Yup - 1082 not counting current open long
I just hope that the 'god of averages' doesn't come looking for revenge too soon!
You don't have to be right, just don't be too wrong
  • #2,862
  • Jan 27, 2009 11:35am Jan 27, 2009 11:35am
Does anyone have a pip count for the 4hr system...for the month?
  • #2,863
  • Jan 27, 2009 11:41am Jan 27, 2009 11:41am
Quoting fourxtrader
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.

[color=#0000ff][i]This chart is not alpari. It's off of a 9, 1, 5...
I've had my eye on a S/R level at about 1.4025 - if you look at it on a 1hr chart you'll see it has been tested over 10 times in the last week or so; price broke through it and re-tested it today so, as per your analysis, looks good for the current Daily long.
You don't have to be right, just don't be too wrong
  • #2,864
  • Edited 11:52am Jan 27, 2009 11:48am | Edited 11:52am
QUESTION
Does this system only work for GBP/USD?
~What u see is what you get, no predictions in the Forex Market~
  • #2,865
  • Jan 27, 2009 12:11pm Jan 27, 2009 12:11pm
Hi Traderali.
This system has been optimized for GBP/USD.
You can test and use it on other pairs at your own risk but it has been proved that GBP/USD is the most profitable pair for this system.
Quoting Traderali
QUESTION
Does this system only work for GBP/USD?
  • #2,866
  • Jan 27, 2009 12:13pm Jan 27, 2009 12:13pm
Maybe 'god of averages' got insolvent due to financial problems ww and will not show
Quoting El Dee
Yup - 1082 not counting current open long
I just hope that the 'god of averages' doesn't come looking for revenge too soon!
  • #2,867
  • Edited 3:12pm Jan 27, 2009 12:41pm | Edited 3:12pm
Hi Friends,

Checking the thread and reading once/twice a day. See many new members here. I was in your position a few months ago. Don't stress out too much. This is an easy system. Just demo for a few weeks and follow the posts and that will give you a good grasp.

I said I'll post my daily results at the end of this month but decided to give a "preview" of results so far.

Have a long trade with some pips locked in. With that, the pip count for this month stands at 1101.

I am sending my thanks to experts Sterling, Tonirai, Howard, El Dee and many others who answered my posts and helped me during my first days/weeks.
  • #2,868
  • Jan 27, 2009 12:46pm Jan 27, 2009 12:46pm
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
Dee,
Isn't the daily candle on 1/23 a setup bar? And the reversalon jan 26th?
Your entry, which I am doing with real funds, is 1.3902 and at this monment I'm up 254 pips! Thanks for all your sharing!
Michael
  • #2,869
  • Jan 27, 2009 1:11pm Jan 27, 2009 1:11pm
Quoting alllivemind
Dee,
Isn't the daily candle on 1/23 a setup bar? And the reversalon jan 26th?
Your entry, which I am doing with real funds, is 1.3902 and at this monment I'm up 254 pips! Thanks for all your sharing!
Michael
You're entry is slightly different to mine but yesterday's reversal bar (26th) was not a setup bar or 'Tweak 3' bar so SL should still be 5 below setup bar till bar close tonight.
Having said that I'm 658 pips up but none locked in yet
You don't have to be right, just don't be too wrong
  • #2,870
  • Jan 27, 2009 1:13pm Jan 27, 2009 1:13pm
You might set a new record for a month for this system
Quoting El Dee
You're entry is slightly different to mine but yesterday's reversal bar (26th) was not a setup bar or 'Tweak 3' bar so SL should still be 5 below setup bar till bar close tonight.
Having said that I'm 658 pips up but none locked in yet
  • #2,871
  • Jan 27, 2009 1:24pm Jan 27, 2009 1:24pm
Congrats to all those who are trading the daily 5 EMA method.

With the open of a new candle, anyone viewing the 4H chart
care to give the current chart numbers and possibilities.

Thanks,

Dr. D.
  • #2,872
  • Jan 27, 2009 1:35pm Jan 27, 2009 1:35pm
El Dee do you have 5 digits precision on G/U pair? If yes then 1 normal pip is actualy 10 pips (for 5 digits precision).
This means that 658 pips for 5 digits precision are 66 pips for normal 4 digit precision pair.

Quoting El Dee
You're entry is slightly different to mine but yesterday's reversal bar (26th) was not a setup bar or 'Tweak 3' bar so SL should still be 5 below setup bar till bar close tonight.
Having said that I'm 658 pips up but none locked in yet
  • #2,873
  • Jan 27, 2009 1:43pm Jan 27, 2009 1:43pm
Quoting fourxtrader
Congrats to all those who are trading the daily 5 EMA method.

With the open of a new candle, anyone viewing the 4H chart
care to give the current chart numbers and possibilities.

Thanks,

Dr. D.
Nothing has changed, meaning:
short entry @ 1.4049;
SL & buy stop @ 1.4250;
The only change is for the pending buy stop's SL, at the most recent low... meaning @ 1.4019.
  • #2,874
  • Jan 27, 2009 1:51pm Jan 27, 2009 1:51pm
Quoting AlexL
El Dee do you have 5 digits precision on G/U pair? If yes then 1 normal pip is actualy 10 pips (for 5 digits precision).
This means that 658 pips for 5 digits precision are 66 pips for normal 4 digit precision pair.
He is not here apparently, but I'm sure that even if he has 5 digit (I do), when he says 658 pips, he means 6580;

Even with this change, we still refer to pips as for the 4th digit (old habits die hard )
And I think in Alpari US they are still with 4 digit, so we keep the standard.
  • #2,875
  • Jan 27, 2009 2:20pm Jan 27, 2009 2:20pm
Quoting tonirai
Nothing has changed, meaning:
short entry @ 1.4049;
SL & buy stop @ 1.4250;
The only change is for the pending buy stop's SL, at the most recent low... meaning @ 1.4019.
OK. I'm correct on the entry. - 1.4050

Because I was 'short' I was just a little timid at this point
to 'expose myself' and give my true numbers. haha

I'm short @ 1.4050 but with the completion of each candle
I moved my SL down from 1.4251 to 1.4219 and now 1.4207
(5 + spread above recent high) as each subsequent candle
closed and presented lower highs.

Sounds like this was the wrong move.

So you keep the S/L locked based on the high / low of the set-up
candle along with any contingent reverse buy / sell -stop
orders, and leave them there through the whole trade?

Is this respecting the relative support and resistance levels
presented in the trade set-up as highest highs or lowest lows?

I still haven't grasped the concept of reverse contingent orders
and how many or often they might be utilized or changed.

Thanks for the continued coaching,

Dr. D.
  • #2,876
  • Jan 27, 2009 2:31pm Jan 27, 2009 2:31pm
Quoting fourxtrader
So you keep the S/L locked based on the high / low of the set-up
candle along with any contingent reverse buy / sell -stop
orders, and leave them there through the whole trade?


Is this respecting the relative support and resistance levels
[i][color=#0000ff]presented...
We keep it there until we have a new setup in the opposite direction;

It respects the concept, in the sense that the price is considered to be ranging, while it doesn't come to the lower EMA.
  • #2,877
  • Jan 27, 2009 2:55pm Jan 27, 2009 2:55pm
Quoting tonirai
He is not here apparently, but I'm sure that even if he has 5 digit (I do), when he says 658 pips, he means 6580;

Even with this change, we still refer to pips as for the 4th digit (old habits die hard )
And I think in Alpari US they are still with 4 digit, so we keep the standard.
Toni's right; my entry level was 1.3893, low today is 1.3929 so my SL will be 1.3924 (+31 pips locked in) and my chart gives current price at 1.4170 so 275 pips up - not locked in.
Sorry - don't know where 658 came from - wishful thinking I guess!
You don't have to be right, just don't be too wrong
  • #2,878
  • Jan 27, 2009 3:13pm Jan 27, 2009 3:13pm
Quoting howard
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.
In my case , I start test daily system from this week differen with yours 1 pip sell from 1.4642 close 1.3902 and revers long from the same level . Number of cutting pips is equal
Good luck
  • #2,879
  • Jan 27, 2009 6:15pm Jan 27, 2009 6:15pm
ERRATUM n. pl [from Latin: Screw up, from errare to err]
Toni has spotted the deliberate mistake that I planted in BOTH of the rules documents (4hr, post 2772, page 185 & Daily, post 2741, page 183), Example 4.8 notes 9 & 10, replace 'bar 8' with 'bar 7'
Thanks Toni
You don't have to be right, just don't be too wrong
  • #2,880
  • Jan 28, 2009 10:19am Jan 28, 2009 10:19am
Quoting El Dee
ERRATUM n. pl [from Latin: Screw up, from errare to err]
Toni has spotted the deliberate mistake that I planted in BOTH of the rules documents (4hr, post 2772, page 185 & Daily, post 2741, page 183), Example 4.8 notes 9 & 10, replace 'bar 8' with 'bar 7'
Thanks Toni

Deliberate mistakes in my trading are what brought me to this thread.

HAHAHA

Dr. D.
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