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Attachments: 34ema/atr
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34ema/atr

  • #21
  • Mar 30, 2007 2:59am Mar 30, 2007 2:59am
Hi Wahomeron,

Very Nice.

When you are at the Enter spot, do you wait for a bar close, or just Enter when price passes the 34 EMA?

Thanks.
  • #22
  • Mar 30, 2007 3:00am Mar 30, 2007 3:00am
hi dfltrader the blue lines mean nothing, it should look like this. Sorry for those that got confused by it.
Attached Image
Welcome to the Layer Cake son!
  • #23
  • Mar 30, 2007 3:06am Mar 30, 2007 3:06am
hi fewhills, i usually enter immediately on retrace,as soon as price touches the 34 ema. I find that when i throw in too many rules, then it becomes harder to pull the trigger hence lost opportunities. The setup happens often enough with regularity and the stop is never more than 20 pips.
Welcome to the Layer Cake son!
  • #24
  • Mar 30, 2007 3:11am Mar 30, 2007 3:11am
What are your rules for exiting?
  • #25
  • Mar 30, 2007 3:23am Mar 30, 2007 3:23am

  1. i always break even @ the channel then trail profits from here with a fast moving stop.
  2. <20 pips = B/E
  3. 40 pips= lock in 10 pips
  4. 60 pips= lock in 30 pips
  5. 70 pips= lock in 50 pips
  6. 80 pips= lock in 70 pips
  7. close trade @ round numbers. for example 1.9600

Welcome to the Layer Cake son!
  • #26
  • Mar 30, 2007 7:56am Mar 30, 2007 7:56am
wahomeron,

I read about your 34ema/atr trade. I actually did it on faith during the european session for the gbp/usd man. It actually worked..laughing...

I only trade from 1am to 5am central time for the european session and from 730am to 11am central time for the U.S session

I saw the mkt hit the trigger point at the bottom of the band line and was just waiting for the mkt to go back up to the 34ema. Well it did exactly that and I sold gbp/usd at 1.9585 level and got out at 1.9555 level for a 25 pip profit...and this trade, by the way, was placed before news came out and it still went in it's intended direction. This trade occured today, Friday morning during the european session through the u.s session when news hit the wire at 730am central time.

A question for ya...

1) How often does this opportunity occur? Does it occur daily or what?

Thanks,

hilton


Quoting wahomeron
i have been lurking in this forum for so long, but in that time i have learn`t alot but now i hope i can give back in some way. this is a system that i have been working on for the last 8 months. I have made some good money with it but every now and then my discipline wavers when i have a string of losses only to watch on the sidelines at missed opportunities. Either way i like it because it is easy to execute. wahomeron
  • #27
  • Mar 30, 2007 9:16am Mar 30, 2007 9:16am
Quoting wahomeron
hi dfltrader the blue lines mean nothing, it should look like this. Sorry for those that got confused by it.
I am confused on your entries. Why did you not enter 8-9 bars back when it touched the ema line the first time?
  • #28
  • Mar 31, 2007 12:34am Mar 31, 2007 12:34am
Quoting greatlakes
I am confused on your entries. Why did you not enter 8-9 bars back when it touched the ema line the first time?
i did just put the arrow in a late spot. Entry is very simple, ema 34, nothing confusing about that.
Welcome to the Layer Cake son!
  • #29
  • Mar 31, 2007 12:40am Mar 31, 2007 12:40am
Quoting currencytrader
wahomeron,

I read about your 34ema/atr trade. I actually did it on faith during the european session for the gbp/usd man. It actually worked..laughing...

I only trade from 1am to 5am central time for the european session and from 730am to 11am central time for the U.S session

I saw the mkt hit the trigger point at the bottom of the band line and was just waiting for the mkt to go back up to the 34ema. Well it did exactly that and I sold gbp/usd at 1.9585 level and got out at 1.9555 level for a 25 pip profit...and this trade, by the way, was placed before news came out and it still went in it's intended direction. This trade occured today, Friday morning during the european session through the u.s session when news hit the wire at 730am central time.

A question for ya...

1) How often does this opportunity occur? Does it occur daily or what?

Thanks,

hilton
hi currencytrader,
thanks for your interest. I have to say that i have seen enough of these setups from all the metatrader data i can get my hands on. Let me know if you have any more thoughts on this.
cheers.
Welcome to the Layer Cake son!
  • #30
  • Mar 31, 2007 5:28am Mar 31, 2007 5:28am
Waho...

Well, I can tell you here and now, that there's nothing to improve on with your method bro.

Matter of fact, this setup(gbp/usd) occured again during the u.s session at 1:50pm(buy oppt) or you could have bought at 1:55pm Central Standard Time.

You could have done a position trade and leave your position open over the weekend because the mkt will go back up to at least the 1.9707 level before it comes back down again. Also, if you look at msnbc.com's front page you'll see that the Dow Jones had an up day and that is another confirmation that the gbp/usd and eur/usd will be going up. Whenever the Dow Jones has an up or down day, after 5pm(eastern time..when the stock market closes for the day), the gbp/usd and eur/usd traders will try to bring these two currency pairs up. I've been noticing this for the past few months now based on observation.

But, being that I don't trade after 11pm, I did not get into this trade.

Oh baby..but next time this happens on a friday, my azz will be in on this trade because this trade will be a 26 pip profitable trade at least...

peace,

hilton


Quoting wahomeron
hi currencytrader,
thanks for your interest. I have to say that i have seen enough of these setups from all the metatrader data i can get my hands on. Let me know if you have any more thoughts on this.
cheers.
  • #31
  • Mar 31, 2007 2:58pm Mar 31, 2007 2:58pm
Quoting wahomeron
i did just put the arrow in a late spot. Entry is very simple, ema 34, nothing confusing about that.
What I meant is if you look at the enclosed chart I circled two bars where according to your rules you should have entered. It was eight and nine bars earlier than when you entered. Price touched the ema after the signal bar.
Attached Image
  • #32
  • Apr 1, 2007 3:35am Apr 1, 2007 3:35am
lakes,

I'm surprised that there hasn't been 30,000 people by now, that hasn't posted on this thread. I mean, damn, this is a simple trade dawg.

One rule I have is that I never trade two consecutive trades in the same direction. I give the market a chance to go from one band to the other side of the band so that I can see where the market is likely to go. I haven't had a bad trade yet, and probably never will. But, if you trade, two times or more in the same direction, there's a HUGE likelyhood that you'll have a loss because after the first time the mkt hits either the top/bottom band, and then hits the 34ema, there's no guarantee that the same thing will happen a second time in the same direction. Once is good enough; then I'm looking for the mkt to come around and hit the oppose side of the band.

Not to bad for a black man who used to live in the 9th Ward of the hood in New Orleans, Louisiana(due to the flood there I'm now living in the midwest; and the food here sucks, but is pretty peaceful..hehehe)

peace,

hilton

Quoting greatlakes
What I meant is if you look at the enclosed chart I circled two bars where according to your rules you should have entered. It was eight and nine bars earlier than when you entered. Price touched the ema after the signal bar.
  • #33
  • Apr 1, 2007 10:55am Apr 1, 2007 10:55am
What settings would you recommend for using this method with Daily TF and also for 4H TF? Thanks in advance.
  • #34
  • Apr 1, 2007 12:30pm Apr 1, 2007 12:30pm
how come i dont get a middle line? my envelope setting is at

34 period
exponential
shift 0
apply to close
deviation 0.09%..

i dont get a middle line with this.. any help appreciated


Quoting wahomeron
hi dfltrader the blue lines mean nothing, it should look like this. Sorry for those that got confused by it.
  • #35
  • Apr 1, 2007 1:02pm Apr 1, 2007 1:02pm
coolshades, the middle line looks to be a 34 EMA.
  • #36
  • Apr 2, 2007 12:44am Apr 2, 2007 12:44am
Quoting coolshades
how come i dont get a middle line? my envelope setting is at

34 period
exponential
shift 0
apply to close
deviation 0.09%..

i dont get a middle line with this.. any help appreciated
gblair is right, the middle line is 34 EMA. Thanks guys for all your interest, it`s that 2nd opinion that makes you see anything that you may have left out and more important help you build your confidence in a system by forcing you to confront challenges and find solutions.

by the way here is the updated template for those who are having issues, nothing different, just got rid of the two double ma`s.
Attached File(s)
File Type: tpl EMA CHANNELS ON M5.tpl   < 1 KB | 878 downloads
Welcome to the Layer Cake son!
  • #37
  • Apr 2, 2007 1:16am Apr 2, 2007 1:16am
Quoting wahomeron
gblair is right, the middle line is 34 EMA. Thanks guys for all your interest, it`s that 2nd opinion that makes you see anything that you may have left out and more important help you build your confidence in a system by forcing you to confront challenges and find solutions.

by the way here is the updated template for those who are having issues, nothing different, just got rid of the two double ma`s.
I am unable to view your attachment, can you post in a jpeg format?
  • #38
  • Apr 2, 2007 1:25am Apr 2, 2007 1:25am
Quoting wahomeron
gblair is right, the middle line is 34 EMA. Thanks guys for all your interest, it`s that 2nd opinion that makes you see anything that you may have left out and more important help you build your confidence in a system by forcing you to confront challenges and find solutions.

by the way here is the updated template for those who are having issues, nothing different, just got rid of the two double ma`s.
has anyone been able to view this template?
  • #39
  • Apr 2, 2007 1:59am Apr 2, 2007 1:59am
thanks for clearing that up. why is this called 34ema/ATR? why atr?
  • #40
  • Apr 2, 2007 2:34am Apr 2, 2007 2:34am
I am using esignal - is my settings correct?
looking at this chart where would be my trigger and entry - there are simply too many wipsaws.

any help??
Attached Image
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