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4H 5EMA System

  • #2,921
  • Jan 30, 2009 5:22pm Jan 30, 2009 5:22pm
Quoting howard
Hi

My chart from alpari uk shows a high of 1.4409 for yesterday, it is really a big difference 16 pips.

Hmmmm................that is a big difference Howard. My Alpari (UK) charts show a high of 1.4393 (29 January 2009) on the daily.
If there is ever any doubt then there is no doubt.
  • #2,922
  • Jan 30, 2009 5:26pm Jan 30, 2009 5:26pm
Quoting Kristo
Hmmmm................that is a big difference Howard. My Alpari (UK) charts show a high of 1.4393 (29 January 2009) on the daily.
As mine does (Alpari UK).
  • #2,923
  • Jan 30, 2009 5:33pm Jan 30, 2009 5:33pm
As for the 4H, my last trade was:

Buy @ 1.4276;
Out 5min before close, @ 1.4530 (+254 pips).

Last bar is a setup to a short, so if on Sunday the market opens below 1.4420, a sell will be open;
If it opens above, a buy will be open.

Good weekend to all
  • #2,924
  • Jan 30, 2009 7:44pm Jan 30, 2009 7:44pm
Quoting patrick25
Hi All,

I have traded this system a month now. Here is my pips count for Jan 05 to Jan 30, total = 393+ pips. Once time pips count was up 1123 pips. The system gave a lot of pips back through side way market but the last trade made up the pips counts for the month. Like Sterling said, take every trade.
Thank you for all your help.
Your charts from US based broker? Good pips, still a lots of pips given back.
Does your broker have a sunday bar?

Thanks.
IKent
  • #2,925
  • Jan 30, 2009 11:19pm Jan 30, 2009 11:19pm
Hi Ikent,
I use alpari-us demo chart and making trade with ibfx broker. Sterling created and tested the system on alpari-us chart so it would be wised to use it for charting and trade with whatever brokers you like, with money management of course.
  • #2,926
  • Jan 31, 2009 9:47am Jan 31, 2009 9:47am
Quoting Kristo
Hmmmm................that is a big difference Howard. My Alpari (UK) charts show a high of 1.4393 (29 January 2009) on the daily.
You are right, high of the day for Alpari UK is 1.4393; the high of 1.4409 is on the chart of Alpari Russian which I was using.
Regards
  • #2,927
  • Edited 1:53pm Feb 1, 2009 11:33am | Edited 1:53pm
Hi All:
I'd refer you to posts #2476,2484,2486 for info about the method I'm using. I think this is what Howard started but later added some tweaks into it. No use of 5 EMA here.

This strategy was also mentioned by someone in this thread sometime back - see #1742 - this I think mentions about entering at the high/low - but I use 5 pip buffer above/below (not including spread)

I've not added any tweaks to this method so far.

I'm using Alpari US for this method. All times posted here are MT (GMT -7) during standard hours and GMT -6 for daylight hours.

Word of caution :
Before you jump in with your hard earned money and start trading live, please do yourself a favor. Test at least 1 year or 2 years worth of data and see for yourself the kind of drawdown you would have encountered. Manage your account with that information in mind.

Jan results:
No. | Entry date/time | Exit Date/time | Entry | Exit | Long/Short| P/L | Month P/L
1 1/5/09 10:11 AM 1/6/09 11:52 AM 1.46440 1.49010 L 257 257
2 1/7/09 5:26 AM 1/11/09 4:00 PM 1.50000 1.50640 B 64 321
3 1/11/09 4:00 PM 1/12/09 7:24 AM 1.50640 1.48710 S 193 514
4 1/12/09 4:20 PM 1/13/09 11:47 AM 1.47960 1.44800 S 316 830
5 1/15/09 8:33 AM 1/15/09 5:11 PM 1.44850 1.46930 S -208 622
6 1/15/09 5:11 PM 1/16/09 2:11 AM 1.46930 1.49020 L 209 831
7 1/19/09 12:58 AM 1/19/09 5:31 PM 1.46430 1.43080 S 335 1166
8 1/21/09 1:00 AM 1/26/09 4:49 AM 1.38050 1.39000 S -95 1071
9 1/26/09 4:49 AM 1/28/09 12:30 AM 1.39000 1.42870 L 387 1458
10 1/28/09 8:23 PM 1/29/09 6:03 AM 1.41210 1.43830 S -262 1196
  • #2,928
  • Feb 1, 2009 12:10pm Feb 1, 2009 12:10pm
Quoting tonirai
As for the 4H, my last trade was:

Buy @ 1.4276;
Out 5min before close, @ 1.4530 (+254 pips).

Last bar is a setup to a short, so if on Sunday the market opens below 1.4420, a sell will be open;
If it opens above, a buy will be open.

Good weekend to all
Interesting.

So you close all active trades (5 min before the broker closes)
and because there is a valid setup displayed on the charts,
before the close you then placed a contingent sell-stop and buy-stop
appropriately outside the candle parameters immediately at the close
of the candle on Fri. or do you wait until Sunday's open?

Thanks,

Dr. D.
  • #2,929
  • Feb 1, 2009 1:07pm Feb 1, 2009 1:07pm
Quoting fourxtrader
Interesting.

So you close all active trades (5 min before the broker closes)
and because there is a valid setup displayed on the charts,
before the close you then placed a contingent sell-stop and buy-stop
appropriately outside the candle parameters immediately at the close
of the candle on Fri. or do you [color=blue][i]wait...
Kind of (it's on the rules):

The 5 min rule exists to protect against big gaps that go against you - when the market opens, you simply reenter the position dictated by the last context;
The trade is closed 5 min before the close, and the reentring is made with a market order.

Since last bar is a setup bar:
Above 1.4420 we go long;
Below 1.4420 we go short.
  • #2,930
  • Feb 1, 2009 4:09pm Feb 1, 2009 4:09pm
Quoting denverdude
Hi All:
I'd refer you to posts #2476,2484,2486 for info about the method I'm using. I think this is what Howard started but later added some tweaks into it. No use of 5 EMA here.

This strategy was also mentioned by someone in this thread sometime back - see #1742 - this I think mentions about entering at the high/low - but I use 5 pip buffer above/below (not including spread)

I've not added any tweaks to this method so far.

I'm using Alpari US for this method. All times posted here are MT (GMT -7) during standard hours and GMT -6 for daylight...
Hi

Is this the "with-target" version of the method?
Regards
  • #2,931
  • Feb 1, 2009 8:26pm Feb 1, 2009 8:26pm
Quoting howard
Hi

Is this the "with-target" version of the method?
Howard,
Yes, this is the version where TP = SL.
  • #2,932
  • Edited 10:44pm Feb 1, 2009 10:29pm | Edited 10:44pm
DenverDude;

Are you using Alpari (US) platform time or your local clock time in your results? The reason I ask is because I can't seem to produce your High's and Low's. Please advise.

Edit: I think it would be easier to follow your results if you were using the candle time for the entry and exit in your results.

TimeFreedom

Quoting denverdude
Hi All:
I'd refer you to posts #2476,2484,2486 for info about the method I'm using. I think this is what Howard started but later added some tweaks into it. No use of 5 EMA here.

This strategy was also mentioned by someone in this thread sometime back - see #1742 - this I think mentions about entering at the high/low - but I use 5 pip buffer above/below (not including spread)

I've not added any tweaks to this method so far.

I'm using Alpari US for this method. All times posted here are MT (GMT -7) during standard hours and GMT -6 for daylight...
  • #2,933
  • Feb 2, 2009 4:52am Feb 2, 2009 4:52am
Quoting TimeFreedom
DenverDude;

Are you using Alpari (US) platform time or your local clock time in your results? The reason I ask is because I can't seem to produce your High's and Low's. Please advise.

Edit: I think it would be easier to follow your results if you were using the candle time for the entry and exit in your results.

TimeFreedom
I am using Alpari US but the times I gave are not Alpari times - they are MT. If you add +8 with the times in the earlier post, you'd get Alpari times.

I understand its confusing - but I had to copy/paste the results from my journal where I enter the trades in my local time zone.
  • #2,934
  • Feb 2, 2009 6:20am Feb 2, 2009 6:20am
Hi,

For daily users, now we're short from 1.4175 with SL 1.4554.
Running profit for sell: + 100 pips.
The buy before weekend was closed and never open because week started below friday close.

Any veterans are welcome to comment if i'm wrong.

AlexL
  • #2,935
  • Feb 2, 2009 6:39am Feb 2, 2009 6:39am
And update for 4H users

Yesterday at the openning, we have reentered the buy @ 1.4438, and placed the SL & sell stop @ 1.4420;

Those were later activated (-18 pips for the long), so we're short since;

Currently, we have locked profit, with a SL & buy stop @ 1.4351. The current bar, though it's too early to be sure, seems to be heading south, and will enable to lock around 100 pips more.
  • #2,936
  • Feb 2, 2009 6:54am Feb 2, 2009 6:54am
Quoting AlexL
The buy before weekend was closed and never open because week started below friday close.
I've been in the sideways in what concerns the daily method, but I got the idea that positions aren't closed for the weekend?

Maybe I'm mixing methods, because it also seems we have more than one variation (with/without emas; with/without profit target; etc);

If it is so, it could be helpfull if users of different methods would compile and post results from past live trades or common backtested months (good and bad ones), together in continuous posts, to be easier to refer to and compare.

(I would be glad to add a daily variation to my arsenal, but it isn't easy to follow which is what, and which works better/worse on trending/ranging days, etc )
  • #2,937
  • Feb 2, 2009 7:13am Feb 2, 2009 7:13am
I can do that tonirai.

I'll start posting monthly results of the daily method (SL = TP, No EMA) in one single place.

Haven't gone through all months using this method. Will post the backtest results as well in the same place.

Forgot to add this earlier: Yes, positions are left open during weekends as well.
  • #2,938
  • Feb 2, 2009 8:47am Feb 2, 2009 8:47am
DenverDude,

Look forward to your results and tutorial. I will work on a EA for the Daily method.

TimeFreedom

Quoting denverdude
I can do that tonirai.

I'll start posting monthly results of the daily method (SL = TP, No EMA) in one single place.

Haven't gone through all months using this method. Will post the backtest results as well in the same place.

Forgot to add this earlier: Yes, positions are left open during weekends as well.
  • #2,939
  • Feb 2, 2009 9:11am Feb 2, 2009 9:11am
Time,
Thanks for the EA - I can use your EA to test the past 2 years.

Right now, I have to go through manually and its time consuming.

Also, from next month, I'll post the times in Alpari times and not my local time.

Thanks.
Quoting TimeFreedom
DenverDude,

Look forward to your results and tutorial. I will work on a EA for the Daily method.

TimeFreedom
  • #2,940
  • Feb 2, 2009 9:53am Feb 2, 2009 9:53am
Quoting AlexL
Hi,

For daily users, now we're short from 1.4175 with SL 1.4554.
Running profit for sell: + 100 pips.
The buy before weekend was closed and never open because week started below friday close.

Any veterans are welcome to comment if i'm wrong.

AlexL
Hi Alex
If You mean daily modifyde by El Dee and Howard , I think price for sell is 1.418 and SL 1.4551 on Alpari US chart They do not add spread .
Good luck
Peter
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