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EJ_4H method

  • #141
  • Apr 26, 2006 7:44am Apr 26, 2006 7:44am
Quoting iboersma
Rongshishong,

I'm not sure what you mean when you say there's "no space between the price and the 55EMA". When I bought (and roughly when Snag bought), the price was at 114.98 and the 55EMA was at 117.03, making the difference 203 pips, which is more space than this pair has seen for quite a while...


Take a look at 12/19/2005 on USD/JPY and you'll see a similar trading setup to the one we see today, which was good for around 100 pips.

- Ian
Good morning:

New to this site. Can I get a clarification on "no space between"?

Thanks
Johnny
JohnnyPhoenix He who controls the SPICE controls the Forex universe!
  • #142
  • Apr 26, 2006 7:48am Apr 26, 2006 7:48am
Quoting JohnnyPhoenix
Good morning:

New to this site. Can I get a clarification on "no space between"?

Thanks
Johnny
Hi Johnny,

First, please read the two PDF files Ibo has made available on the first post of this thread to get an understanding of what the trading method is all about. He explains his approach there.

In short, the 'no space between' comment was referring to the pip range between the price and the value of the 55 period moving average.

Best,

Ian
  • #143
  • Apr 26, 2006 8:39am Apr 26, 2006 8:39am
Dear All

Sorry for delay, I had a problem in connecting to the net and could not send promised issue on time.

Stop Loss Placing although is a very important thing and there are several ways to do this but most of the time traders use a very simple and easy to place regarding some aspects that I will discuss later on. You can find out how you should place a surefire stop for an entry, you get 5-20 pips regarding your risk-reward ratio and the currency pair and some other aspects like the volatility the market and relations with PPs and fibo levels. It is not important that at the time you can get the best entry, everybody will have problems and mistakes in starting. please consider that YOU WILL LEARN WHEN YOU MAKE A MISTAKE. so if you are making mistakes don't distress yourself, just please refer to that and learn ONE THING from that, after some time you get better and better and at that time you have not much mistakes and then you will try for higher performances.

Thanks all kids sent some stuff.
Attached Image
  • #144
  • Apr 27, 2006 7:54am Apr 27, 2006 7:54am
Dear Friends,

Maybe I should tell you that this week really is not so technical, and there are many strange and non-technical moves, so if you see that you are so mistaken this is not because of your fault, this is because of a non-technical era, I can not speak so much about such issues, just wanted to mention not distress yourselve.

Happy trading,
Ibo
  • #145
  • Apr 27, 2006 1:56pm Apr 27, 2006 1:56pm
Quoting eurusdtrader
Dear Friends,

Maybe I should tell you that this week really is not so technical, and there are many strange and non-technical moves, so if you see that you are so mistaken this is not because of your fault, this is because of a non-technical era, I can not speak so much about such issues, just wanted to mention not distress yourselve.

Happy trading,
Ibo
Ibo,

No doubt. I've been pretty much on the sidelines with the exception of a 20 pip USD/JPY and another AUD/USD 23 pip trade this week. Now that the Fed has laid their cards on the table saying they will take a temporary break from raising interest rates and the Euro was able to break out of its range, I think next week will prove more fruitful...

Anyway, let's hope so!

- Ian
  • #146
  • Apr 27, 2006 1:57pm Apr 27, 2006 1:57pm
I entered Buy: 205.50 SL: 204.13 TP: 207.83
Stopped Out for -137 pips.

I then entered Buy: 205.25 SL: 203.79 TP: 207.36
Currently +38 pips
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  • #147
  • Apr 27, 2006 2:40pm Apr 27, 2006 2:40pm
TimeFreedom,
totally you made a good entry, but as I said there are many ways to put a proper stop loss, you should choose a reasonable range for each surrency pair and each trade, I am not specialist in gbpjpy, but I recommend try to keep yur stops as tight as you can, plus this week was one of the very non-technicals, very strong signals but very confilicting moves. Personally I still stayed out and just pose very surefire orders

I agree with Ian, market will make nice opprotunities after comming back to its harmony.

more technical comments will be discussed after publishing related lessons.

Happy trading
Ibo

Quoting TimeFreedom
I entered Buy: 205.50 SL: 204.13 TP: 207.83
Stopped Out for -137 pips.

I then entered Buy: 205.25 SL: 203.79 TP: 207.36
Currently +38 pips
  • #148
  • Apr 27, 2006 3:08pm Apr 27, 2006 3:08pm
Quoting eurusdtrader
TimeFreedom,
totally you made a good entry, but as I said there are many ways to put a proper stop loss, you should choose a reasonable range for each surrency pair and each trade, I am not specialist in gbpjpy, but I recommend try to keep yur stops as tight as you can, plus this week was one of the very non-technicals, very strong signals but very confilicting moves. Personally I still stayed out and just pose very surefire orders

I agree with Ian, market will make nice opprotunities after comming back to its harmony.

more technical comments will be discussed after publishing related lessons.

Happy trading
Ibo
Ibo,

Not trading or patience is something I need to work on. I am learning that waiting for the less risky setups are best. Live and learn.

Thanks,

TimeFreedom
  • #149
  • Apr 28, 2006 12:32am Apr 28, 2006 12:32am
TimeFreedom,

You said the thing that I will tell in upcoming psychologic issues frequently, many learn how to trade but few learn how not to trade; there are some conditions that you should feel and stand aside, just be patient and wait for the best. 1 trade each week is enough, don't imagine that 100 pips is few. You should never think of the number of trades, the number of pips, you should think about performance. After months of experience I found out that the key to success is recognizing when to trade and when staying out even you have a very strong strategy/system.

Rgds,
Ibo


Quoting TimeFreedom
Ibo,

Not trading or patience is something I need to work on. I am learning that waiting for the less risky setups are best. Live and learn.

Thanks,

TimeFreedom
  • #150
  • Apr 28, 2006 1:50am Apr 28, 2006 1:50am
Quoting TimeFreedom
Ibo,

Not trading or patience is something I need to work on. I am learning that waiting for the less risky setups are best. Live and learn.

Thanks,

TimeFreedom
Timefreedom

There are three actions that you will ask yourself on a daily basis as a trader: 1) Am i Buying? 2) Am i Selling? and 3) Should i Stand aside? The most difficult for most traders is number 3. Number 1&2 require you to have a good strategy/system and to be disciplined enough to pull the trigger when you get a trading signal. Number 3 requires a great deal of 'Personal' discipline. You have to know how to wait for the right trades, you have to know how to wait for the market to show you where it is going and you need to have tremendous mental strength.

Use your pain of loss to turn yourself into a better trader. Keeping records of your trades is a good starting point to developing the good discipline required to be a great trader.

Happy Trading
MM

Ps. NEVER forget to place your stop losses.
The greatest achievements are those that benefit others....
  • #151
  • Apr 28, 2006 11:01am Apr 28, 2006 11:01am
TimeFreedom,

How many pips you got from GBPJPY? You may have more than 200 pips in your long position? If you see the EURJPY that has a similar trace to this pair, you can see than if you had sell position on that pair you would be in safe sidebefore buy signal, anyway this is the power of the best entry setup and reversal trading on H4.

Have a nice weekend
Ibo
  • #152
  • Apr 28, 2006 12:55pm Apr 28, 2006 12:55pm
Ibo i'd like to thank you for sharing your method that seems to be really good.
I started yesterday testing it in a demo account and here's my open trades using EJ_4H method , i achieved more than 900 pips in less than 24hr

http://img107.imageshack.us/img107/1861/screen9aq.jpg

GBP/JPY = +223 pips
EUR/JPY = +42 pips
NZD/USD = +34 pips
GBP/USD = +210 pips
USD/CHF = +180 pips
CHF/JPY = +101 pips
EUR/CHF = +123 pips

Total = 913 pips !!!

I don't know may be it was a lucky day but if i will reach 1/10 of this performance every day on a real account i will be a very happy man
  • #153
  • Apr 28, 2006 1:18pm Apr 28, 2006 1:18pm
Skyline,
I am happy that you have seized such an incredible profit, I will cover the condition of market in Fridays and Mondays, but I think there are 2 things need to be mentionned:

1- Luck is with one who has the belief.

2-Of course in real trading this will be hard to seize such incredible pips just in 24 hours, but you can definitely seize more than what you want (1/10) with proper implementation and discipline.

Keep in touch buddy,
Have a nice weekend all guys,
Ibo




Quoting skyline
Ibo i'd like to thank you for sharing your method that seems to be really good.
I started yesterday testing it in a demo account and here's my open trades using EJ_4H method , i achieved more than 900 pips in less than 24hr

http://img107.imageshack.us/img107/1861/screen9aq.jpg

GBP/JPY = +223 pips
EUR/JPY = +42 pips
NZD/USD = +34 pips
GBP/USD = +210 pips
USD/CHF = +180 pips
CHF/JPY = +101 pips
EUR/CHF = +123 pips

Total = 913 pips !!!

I don't know may be it was a lucky day but if i will reach 1/10 of this performance every day on a real account i will be a very happy man
  • #154
  • Apr 28, 2006 1:35pm Apr 28, 2006 1:35pm
Quoting mmbmusa
Timefreedom

There are three actions that you will ask yourself on a daily basis as a trader: 1) Am i Buying? 2) Am i Selling? and 3) Should i Stand aside? The most difficult for most traders is number 3. Number 1&2 require you to have a good strategy/system and to be disciplined enough to pull the trigger when you get a trading signal. Number 3 requires a great deal of 'Personal' discipline. You have to know how to wait for the right trades, you have to know how to wait for the market to show you where it is going and you need to have tremendous mental strength.

Use your pain of loss to turn yourself into a better trader. Keeping records of your trades is a good starting point to developing the good discipline required to be a great trader.

Happy Trading
MM

Ps. NEVER forget to place your stop losses.
MM & EURUSDTRADER,

Thanks for your input. I think I am finally starting to use my discipline and wait for the right setup instead of trying to be in a trade every single trading day of the week.

Thanks,

Time Freedom
  • #155
  • Apr 28, 2006 1:48pm Apr 28, 2006 1:48pm
Quoting eurusdtrader
TimeFreedom,

How many pips you got from GBPJPY? You may have more than 200 pips in your long position? If you see the EURJPY that has a similar trace to this pair, you can see than if you had sell position on that pair you would be in safe sidebefore buy signal, anyway this is the power of the best entry setup and reversal trading on H4.

Have a nice weekend
Ibo
EURUSDTRADER,

Originally I made two Buy trades on GBPJPY & EURJPY. Got stopped out on GBPJPY with -137 pips. Re-entered on new signal and closed with +211 pips T/P.

EURJPY is currently +84. Did not get stopped out since I made the trade, unlike GBPJPY which is more volatile.

I appreciate you sharing this great strategy. What would you suggest for capital requirements for a standard account?

Thanks,

TimeFreedom
  • #156
  • Apr 29, 2006 5:25am Apr 29, 2006 5:25am
Could you let me know how can I get more information about Meta Trade 4 Software and EJ_4H?

Thank you

Ishay
  • #157
  • Apr 29, 2006 5:44am Apr 29, 2006 5:44am
Hello Ishay,

All that has been discussed on this system is in this thread. So you should start at the beginning of this thread and read it trough...

Here is a good tutorial for MT4 and you can open a demo acoount there as well and the software is free..
http://www.strategybuilderfx.com/sfxmanual/

Have wonderful weekend... Scott



Quoting Ishaypesok
Could you let me know how can I get more information about Meta Trade 4 Software and EJ_4H?

Thank you

Ishay
  • #158
  • Apr 29, 2006 6:38am Apr 29, 2006 6:38am
I'm working with Fxsol and GFT. Is the software they have similar to Meta Trader?

They have no green bars and no arrows.

Ishay
  • #159
  • Apr 29, 2006 12:21pm Apr 29, 2006 12:21pm
Quoting Ishaypesok
I'm working with Fxsol and GFT. Is the software they have similar to Meta Trader?

They have no green bars and no arrows.

Ishay
Ishay,

FXsol and GFT are using their proprietary platforms (GTS and DealBook respectivelly). These platforms provide nothing that would be similar to MQL/EA of MT4/3
  • #160
  • Apr 29, 2006 12:54pm Apr 29, 2006 12:54pm
new to thread, great stuff and thanks to EJ.

just to clarify there have been many references to the 55MA being EMA rather than SMA. From the PDFs I'm sure it's an SMA.
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