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EJ_4H method

  • #181
  • May 2, 2006 6:21pm May 2, 2006 6:21pm
Quoting bluemoon
additionForexMike,

You have to wait until the bar closes to get the 'correct' signal [re; the blue bar] and in my view the euro price was held up by the Weekly Pivot Points.

IMHO
bluemoon
Thanks for the feedback and for the chart!

MIke
  • #182
  • May 2, 2006 7:25pm May 2, 2006 7:25pm
Quoting ForexMike
IBO,

I took a short was stopped out as the price subsequently raced to new highs. I noticed a blue arrow this morning, but that is now gone.
I just started experimenting with this system, but in back testing I've been putting my stops above the high/low of the trend. In this case, I'd have put my stop a few pips above the high of the 12:00 candle on 5/1 (1.2688). And I've been putting my limit at least as far as my stop. So far the results are very encouraging, but again this is just in back testing and I am very new to the system.
  • #183
  • May 2, 2006 7:28pm May 2, 2006 7:28pm
Quoting sm31
I just started experimenting with this system, but in back testing I've been putting my stops above the high/low of the trend. In this case, I'd have put my stop a few pips above the high of the 12:00 candle on 5/1 (1.2688). And I've been putting my limit at least as far as my stop. So far the results are very encouraging, but again this is just in back testing and I am very new to the system.
That is good to put the stop. But keep in mind that the EUR is VERY strong right now, and you need to pay attention to news and what the banks are saying. DailyFX.com is a great source for that. They are saying that the EURUSD could go to 1.2750 - 1.2800......that would blow right past that stop!

Just a thought
"We are the superior beings, we obey no one!"
  • #184
  • May 2, 2006 7:39pm May 2, 2006 7:39pm
Quoting bigballer
That is good to put the stop. But keep in mind that the EUR is VERY strong right now, and you need to pay attention to news and what the banks are saying. DailyFX.com is a great source for that. They are saying that the EURUSD could go to 1.2750 - 1.2800......that would blow right past that stop!

Just a thought
That's what scares me about this system! I'm primarily a trend follower. The fact that this system is more of a "reversal spotter" got my attention. But I'm with you. I don't think I would consider a significant short trade against the EUR/USD right now.
  • #185
  • May 2, 2006 8:03pm May 2, 2006 8:03pm
Quoting sm31
That's what scares me about this system! I'm primarily a trend follower. The fact that this system is more of a "reversal spotter" got my attention. But I'm with you. I don't think I would consider a significant short trade against the EUR/USD right now.
Hey I shorted the EUR this mourning at 5 am, but for 50 PIPS.

I am all about the reversals also. But I time my trades......

I monitor my trades very carefully
"We are the superior beings, we obey no one!"
  • #186
  • May 2, 2006 11:27pm May 2, 2006 11:27pm
I think it is necessary to gi other SL vhen wo await reverse of trend and other when trend go on?
for 1.- accord. Ibo
2. it can be smaller?


Quoting ForexMike
Thank you for following up!

Mike
BJ
  • #187
  • May 2, 2006 11:40pm May 2, 2006 11:40pm
Dear Traders,

I think the reversal day that you are looking for will be Friday,many of members are striving to catch the reversal but it has its own rules. I know that Tunnel trading strategy and VWB show a very good reversal but you are rash and can not catch this by 1/2 general rules. They are very good strategies and I appreciate them but timing...Please see the attachment.

Rgds,
Ibo
Attached File(s)
File Type: zip pix+comment.zip   73 KB | 596 downloads
  • #188
  • May 3, 2006 1:47am May 3, 2006 1:47am
thx

Quoting eurusdtrader
Dear Traders,

I think the reversal day that you are looking for will be Friday,many of members are striving to catch the reversal but it has its own rules. I know that Tunnel trading strategy and VWB show a very good reversal but you are rash and can not catch this by 1/2 general rules. They are very good strategies and I appreciate them but timing...Please see the attachment.

Rgds,
Ibo
BJ
  • #189
  • May 3, 2006 3:04am May 3, 2006 3:04am
Quoting sm31
I just started experimenting with this system, but in back testing I've been putting my stops above the high/low of the trend. In this case, I'd have put my stop a few pips above the high of the 12:00 candle on 5/1 (1.2688). And I've been putting my limit at least as far as my stop. So far the results are very encouraging, but again this is just in back testing and I am very new to the system.
Hello,
How can I get the system including the signals?

Could you please let me know the way to get it?

Ishay
  • #190
  • May 3, 2006 3:07am May 3, 2006 3:07am
Quoting Ishaypesok
Hello,
How can I get the system including the signals?

Could you please let me know the way to get it?

Ishay
its at the first page of this thread
  • #191
  • May 3, 2006 3:35am May 3, 2006 3:35am
So, there are only 2 parts? I downloaded those 2 parts and after putting them on a chart, and reading through it sounds like I am missing something. I get the 2 differant colored bars and the little arrows. Am I missing something? Probably huh? I know there is more to it but, I am just lost I guess.
JOHN 3:16
  • #192
  • May 3, 2006 3:41am May 3, 2006 3:41am
Quoting eurusdtrader

This is a forex trading system on H4 chart with attached indicators and templates.





Instructions:

1- You should use MT4.

2- You should Update Monthly, Weekly, Daily, H4, H1 charts when using.

3- You should copy the indicators in .../Meta Trader/experts/indicators folder.

4- You should copy the indicators in .../Meta Trader/templates folder.

5- As this is an easy-to-use method you just use templates to do every thing with this method.(e.g. ususally setup ej_4h for monitoring and when you are predicting market by pivots you setup ej_4h_wp or/and ej_4h_mp and after your calculation back to ej_4h to see the chart with less difficulty.

6- Templates with the extention of "wb" are ones with White Background to facilitate preparing a picture for printing or other use.

Abbreviations:

ej_4h ------------------------ Basic template (setup)
ej_4h_wp -------------------- Basic setup+weekly pivots
ej_4h_mp -------------------- Basic setup+monthly pivots
ej_4h_dual stoch ------------- Basic setup+dual stochastic oscillator


Important Notes:


1- All Updates of indicators, templates and documents will be done in this post (the first #1), just a notification will be sent as a new reply (post).


2-The texts/posts in blue color are the ones that members discuss daily/current price action, forecasts and commentaries; so for shortening the duration of following the thread if you are new to thread you can neglect them for awhile. (We do this not to distract or diversify the efforts of members by starting a new thread, so please be aware that no new thread related to this method should be started)
I'm not a programmer and I don't know how to get the system working?

Coul you please let me know what to do step by step?

Thank you in advance

Ishay Pesok
  • #193
  • May 3, 2006 4:21am May 3, 2006 4:21am
Quoting renasdad
So, there are only 2 parts? I downloaded those 2 parts and after putting them on a chart, and reading through it sounds like I am missing something. I get the 2 differant colored bars and the little arrows. Am I missing something? Probably huh? I know there is more to it but, I am just lost I guess.
What did you downloaded?

Could you tell me what is the link to downloded?

Ishay Pesok
  • #194
  • May 3, 2006 5:16am May 3, 2006 5:16am
yeah it is at the very first post on this thread. click on it. there should be 2 of them.
JOHN 3:16
  • #195
  • May 3, 2006 5:28am May 3, 2006 5:28am
Quoting renasdad
yeah it is at the very first post on this thread. click on it. there should be 2 of them.
I can see only the pdf file

Ishay
  • #196
  • May 3, 2006 7:33am May 3, 2006 7:33am
Quoting Ishaypesok
I'm not a programmer and I don't know how to get the system working?

Coul you please let me know what to do step by step?

Thank you in advance

Ishay Pesok
OK folks,

In order to set up MT4 to work with the EJ_4H system, you need to:

1) Download ALL indicators, place them in your "Indicators" folder.
2) Open up each and every one of the indicators you downloaded via the MetaEditor (exclamation mark icon in top menu bar) in MT4. Save and compile each. This is key as they will not work unless you compile them.
3) Download all templates and put them in your main "Templates" folder.
4) Open up the currency charts you want to look at.
5) In each chart, go to the menu bar at the top of MT4 and click the "Charts" menu. From their select "Templates". You should see the EJ_4H templates you downloaded there. If not, select "Load Template" from the context menu and search for them.
6) Once you select the template you want (e.g.: EJ_4H_Dual_Stoch, etc.) the chart will change to show the colored bars and other indicator-related information.

If you don't see some of the indicators, like the 4H countdown timer, go to the Indicators icon (green plus sign) on the top menu bar and then select the indicator you want to add.

Much of the confusion about this lies with the fact that people don't realize that the indicators are loaded WITH the template.

Hope this helps,

Ian
  • #197
  • May 3, 2006 7:35am May 3, 2006 7:35am
think the EURUSD reversal may have just begun. will wait for the arrow though.

In terms of TPs with the EJ_4H system, what are people using. One could be the first green candle?

Also, can anyone help me place vegas-type fibs on MT4? I'm having trouble placing them on the chart.

Would also apreciate anyone else's backtesting particularly on cable.
TRADE FOR SWAP
  • #198
  • May 3, 2006 9:52am May 3, 2006 9:52am
Quoting cgldsmth
think the EURUSD reversal may have just begun. will wait for the arrow though.

In terms of TPs with the EJ_4H system, what are people using. One could be the first green candle?

Also, can anyone help me place vegas-type fibs on MT4? I'm having trouble placing them on the chart.

Would also apreciate anyone else's backtesting particularly on cable.

i assuming you are trying to put fibo lines around 55 SMA here, right? i was trying to do the same on my other charts, too, and just ended up using envelopes instead. but according with what Ibo teaches, he wants us to use different targets in his system.

my understanding is that if you want to really get into the creator's vision, it is better to use a complete set of his recommendations. i found recently in one of the books about forex: first, you have to learn the rules, then you have to play by the rules, then you have to win by the rules, and only after that you can change the rules. although, myself i am always starting with breaking the rules and very often paying the price for that.

cheers
  • #199
  • May 3, 2006 9:53am May 3, 2006 9:53am
Thank you everyone for the conversation about the Euro/Usd it has been very helpful. I have been wondering about where to place stops and profit targets also for this system.
  • #200
  • Edited 11:18am May 3, 2006 11:04am | Edited 11:18am
Quoting holler2me
Thank you everyone for the conversation about the Euro/Usd it has been very helpful. I have been wondering about where to place stops and profit targets also for this system.
H2M,

This is outlined in the pdf. When I was first starting out in FX, I was constantly looking for indicators and others to place my SL's and TP's. (I'm not indicating that you are doing this but many typically look in this direction)

In the guide, he outlines where to put the stops and gives a generous listing of ideas to use for profits such as fibos, wp's/mp's, trendline direction, etc.

Maybe this will be of enrichment for some.

Cheers to all,

K

P.s. Please take a look at the Eur/Usd (or others) with the 'WP Template' and zoom out a bit. On the EUR/USD, you'll see lots of activity (various resistance/support) around the pivot and midpivot 3. When a "correction" comes, I'd 1st look at the pivot as a TP and then on down.
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