EJ_4H method

I believe he does indeed mean "violate", not "volatile". He is talking about the shorter MA violating or breaching the longer one.

The close prices are the tiny pins on each bar. On the blue bars it's the top pin, and on the red bars it's the bottom pin.

Great system!

Would be very cool if anyone could develop a litttle script to send an email/alert when an arrow appear? Can this be possible?

FT

fingotrader, you might want to check this thread:

http://www.forexfactory.com/forexfor...ead.php?t=4689

Hello All



- My meaning was oscillation, so it was violates and definitely not volatile, anyway it was better to write a better verb and I really had not time to check my text plus I am not a native speaker of English and it is one of 6 languages that I have the acquaintance, either closer or nodding,

Hereafter I will do check and anyway sorry for any misspelling or misleading sentences, please don’t hesitate to remind if there is any wrong, I believe there is no dumb question.



- I get many messages, emails requesting more information, specific questions about many aspects, I again tell you please have patience, everything will be better than you can believe it. Most of friends are happy that could find a method that really works, as I saw there are different levels of knowledge among these guys and I have to think to cover the needs of all these different types. So if you read something that is so easy and clear or that is so obscure for you please don’t distress yourself and just never abandon hope, time will come that you will find out what I wanted to mention.



- I don’t want to tell that preparing an alarm is not a good idea, just as a member I want to tell my opinion, forex is not a horse race, and it is like a marathon. So you really never be rash, knowing that at what moment the arrow signal gives alarm/appears is not important, because it has its own definition and it never get confirmed before closing the candle, when working H4 chart, you need a check each 4 hour and I will tell you that even you will find out how to estimate when the signal will come, for example yesterday majors rose sharply and many jumped in to trade, I never did, because I know always these is an opportunity to enter after original signal. You never need to catch all signals or the signals at the first moment; you should have a good understanding of the market, currency pairs and timing. I will cover them, so you really don’t need an alarm, I hate alarm, alarm is for emergency things, alarm means stress and stress will destroy your performance; this is not emergency work, it is a job, and it is 24/5, so if you want to make all your life an emergency you are free to do it. Decide which side you are, you are dedicating your life to forex or you are using forex to make your life better?! I was a bit frank of remarking these, it is just my opinions and I do apologize if this makes anybody inconvenient.



- Please don’t regard all currency pairs if you can not cover all of them, I recommend follow 2 of them, one major and one minor, for example GBPUSD and EURJPY, after that you will get the correlations between currency pairs. I will explain it too in upcoming weeks.



- some of friends are focusing on minor matters, you just try to focus on the great concepts of the markets, like patterns, resistance/supports, pivots, daily/weekly range, momentum, candle patterns and so on. When I say the close price is important you don’t need to know all about the close price and its relations with other aspects, let me simplify the matter, you don’t need monitoring 24/5, you don’t need lots of books, you don’t need the best facilities to trade better, you just need to know a simple way to make winner trades in a long run, we will do it, side by side and this will be happen with patience and perseverance. So when I don’t answer some questions clearly it is because I know you will find out that yourself and better than the way I explain in future after some experience.



This weekend I will post some about the rest of this method.



Have a nice day all buds

Ibo

Euro,

You mentioned you added one candle indicator, was this already done in your first post? If not please post the updated EA please.

Also, I am interested in learning more from you and your trading style, I have been training myself for the last 4 years on the EUR/USD, and still have alot to learn. I agree with you to stick to 1 or 2 pairs to trade, it is too difficult to watch many pairs, this is where you can loss your .....!!

And please tell us where you reside, I am on the west coast of US.

thanks
E

Thanks Buddy

I´ll check it out...

Hi Bigballer

Attached is my finding when using this method on the GBP/USD pair. Please check the results for yourself. My results are quite conservative as i did not take any profits until i got a sell signal when going long(and vice versa).
As with all trading methods, there is no Holy Grail. We all have to find out what works best for us.

Happy Trading.
MM

Hi MM,

I tried to open the attachment, but it did not open correctly...please check it.

thanks

Terrific results MM. So you managed to get this strategy back in November? Or is this a backtest?

Good results. I got the system the same time as all. Just did a back test on my data. Am waiting for the additional material that Euro promised to upload later. Please note the conditions for entering and exiting a trade (as defined by EJ).

Happy Trading
MM

Hi mmbmusa,



Just for curiosity sake: if it is not very difficult, could you please explain me how to backtest anything in MT4? I tried to do it a couple of times, but it did not work for me. I am a regular computer user, so if you think it is doable and you are willing to spend some time, I would be happy to try to backtest something. If you could number the steps, like step 1, 2, 3 etc it would be great. If it involves some advanced knowledge, or takes too much of your time, than don’t worry about that.

Maybe you know a good link that explains it in a simple language?



Thanks.

I think as in other threads it would be great to get some charts posted and get some feed back from Ibo and others, I'm sure it would help Ibo answer some questions and we will all learn from each other more easily.
I have attached some screen shots and comments and would welcome Ibos' and other comments

Hi Sashazz

I use a very different system but try the following:
http://www.forex-tsd.com/3746-post20.html
and
http://www.forexfactory.com/forexfor...t4+programming

Hope this helps. Attached also is a word document writen by Merlin. Hope this is helpful?

MM

Hi Lindsay

Please take a look at the attached word document (obtained from another member on this forum who was using it to explain the Vegas 4Hour Method). I found the explanation very helpful when trying to establish the point at which to enter a trade using the 8SMA. I couldn't really understand the turning up business (not really). I'll also be interested in Ibos take on this.

Happy Trading
MM

Hello all,

Thanks for posting your system EJ!

I'm new to trading... I'm looking at GBP/JPY at the moment and it looks like it might be in for a reversal. Thoughts?

I'm not sure about GBP/JPY...I am long on EUR/GBP at 0.6911, with a target of 0.6972. I've posted the chart. Any thoughts on this anyone??

(BTW, since I am long on EUR/GBP, I do indeed hope that GBP/JPY goes down)

This is part of the knife system and the 8 bars back is the neutral line for the 8sma. I'm not sure on Ibo's thoughts on this as an entry criteria but would be interested to hear from him.

I did not mention the turn of the 8sma in the charts posted, but I would use that as a condition of entry.

I would be interested in an opinion on the other points I have mentioned referencing the distance from the 8 to the 55 SMA as conditions of entry as a a part of the Ibo system.
Also the validity of the trend line in the EURCHF. Should we wait for a break of this line to enter (Trend lines rule ) This would then bring the 8SMA very near the 55SAM, and from what I uderstand from Ibo's pdf too close is no good as we won't have sufficient pips for a good trade if it retraces off the 55sma.

My comments for what they are worth, are if you based your entry off the Ibo system then the entry should have been after the close of the 4hr bar with the arrow 0.6930.
Also as mentioned in my post the proximity of the 8 and 5 sma's is a little close in comparison with eyeballing the history of the pairs.

Also momentum looks a little flat at this stage although probably just consolidation and may well take off again.
Good luck hope it goes.

Hello friends,



When I was a child I liked to learn swimming, I tried to do that whenever and wherever I could. I did all the things that swimmers tried to learn me, how to float, how to breath, how to stroke but I scared of water, of getting soaked totally, of death, in fact I did not have the self-confidence, I was thinking there is something else that they did not tell me, there is a secret that I don’t now still, then I focus on minutiae much and much, but no response, no result, still failing to swim, then I told myself that am I ham-handed? The way of my swimming was right but there was something wrong with that, it was the belief that I can do it and I should take the bitter with the sweet. Very similar goes for trading, newbies and struggling traders know whatever that is enough to make money and trade profitably in a long run but they can not do it mostly, because always they are thinking that there is something that they need to know to start trading. I promise you that you will learn more than all your knowledge that ever have learned when you are one day rely on and believe in yourself. KISS, the old proverb: Keep It Simple and Stupid; the best systems are the simplest. I learned swimming when I never scared of water and drowning, so if you are scaring of losing and making mistakes then you never learn how to trade.



I see many like to put themselves in trouble and make money with many struggles, yes, making money is not easy it is a hard work but hard work not impossible.



I’d like to tell about simplicity and generality, please before reading something about markets look at that how it is general or it is simple, the general matters will waste your time, they give examples without mentioning what security (currency pair/symbol) they are talking, what time frame they are using, they say TREND, but trend means when the time frame has been mentioned. For the sake of simplicity let’s say the daily trend of eurusd is up and on H4 is up but on H1 is down and in M30 and M15 is down and in M5 and M1 is up (the prevailing trend) so it is foolish to tell the trend is up or down without remarking the time scale, and the behavior of symbols are very different, this is why many are professional just in 2/3 symbols and can not trade or at least don’t like trade other so when we say let’s say 20 pips, 8 bars, London Opening and so on, it is very different in each symbol. So this is general and will make you troubles, you will think that you don’t know enough.



About the performance, you saw the work of MM, I thanked him, they seem excellent, but in real trading you can not get all of them, I call this performance mechanical or psych-free result. In real trading you will get confused and just simple rules will help you. This is not mathematic, nothing is 100% and we are not here to calculate something during the market hour, we are here to recognize and show our art of trading, don’t count pips, don’t count dollars, don’t count your dedicated time to monitor the market, don’t count the amount of your trades. It is not necessary you get in each day or have an open position to feel that you are making money. Most of time standing aside and doing nothing is making you money, because you don’t trade and then you don’t lose money. I was out completely previous week, because there was not any good set up to enter, many entered and lost or I saw they did many trades and at the end of week they had a bunch of winner and loser trades totally fruitless. The pain of a loser trade is more than the equivalent pleasure of a winner trade, so they were not break-even, they felt painfully and this is harmful for health, 1 pip in eurusd is almost 10 dollar in standard accounts but health is priceless.



I just have published the best entry set up, I will tell many set ups that will enlighten your way to enter in any situation or avoid you to enter.

One important thing need to be mentioned, It is about the amount/percentage of zooming on screen/charts. Please always look at charts sometimes with a good zoom out. You should see the trends, prevailing trends, major support and resistances and the tops and dips. Every day before checking the market look at the daily chart and sometimes weekly chart, I know that at first you can not understand anything from them, but I promise you that in a long term you will find a gut understanding of where price is going and then you will be so clever to find which signal is true or wrong.



Dear friends please forgive me for being so clear in expressing my opinions, this is not maybe so decent but I really want to say that I never think that I give you rules or want to change your mind, I am just a member like all of you and will feel better if I am a bit of help for you.



Good trading

Ibo