sterling suhr
Recruit
- Messages
- 7
Skype:
Ok guys everynight I will be running a Skype room instead of trying to trade live in here. I will still answer questions in here but will be taking trades live in the Skype room. So if you like go to Skype.com and download it, its free. Then look for Sterling Suhr, and you have to select United States in the search options. Another way to find me on there is my Skype username which is sterling.suhr Send me a message and I will add you to my contacts and then I will add you to the forex group. If you have any questions about that feel free to PM me or ask in the room, either way. Skype official website – download Skype free now for free calls and internet calls The trade record keep below will be based on trades taken in the room given by me with exact entries, exits, and stops according to the system. As I said in the rules some parts of this system just arnt mechanical so some of the results may not be based on mechanical trading of the systems rules. Any changes I make are very simple and you will catch on fast in the room.I also wanna make it clear that this is the room for learning the system and its rules. Trying to learn the system in the room only clutters the already fast passed trading in the room. So learn the basics here and see it applied in the room.
Pips:
Im going to be keeping a running tally of the pips for this system. Right now we are +138 pips for the month of April. Took about a week off as well.
Preface:
The rules to this system are similar to the 4H system so if you understand the jist of that system you will have no problem understanding this one. It might benifit you if you have not looked at that to give that a look first and have a basic understanding of the 4H rules first. Using a smaller timeframe requires a lot more skill and knowledge so understand and demo this first before jumping in. As with my other system many many months went into testing this and fine tuning it and it is much more profitable and has a 1/10 of the drawdown of my other system. I hope you guys enjoy the system and as with the 4H I am open to suggestions on the rules and or wording of the rules I have posted.
Entry:
1) First thing you need to do is put a 60 EMA on a 5M chart of the G/U. I only trade the G/U with this system and would like the main focus of this thread to be about the G/U.
2) If price is below the 60 EMA you are only looking for sells and if price is above the 60 EMA you are only looking for buys. Price can however come down and touch and even break it a little and still be concidered for a buy. Now if it comes down and completly breaks it and then goes back up and hits it you would look for a sell. This will be easier to explain and for you to see once I post some charts.
3) You only take a trade after 2AM Eastern and only take a trade up until 3:30AM Eastern.
4) For a buy: Price is above the EMA and is coming down. Each bar that makes a lower low is the new setup bar. The trade is triggered when the next bar breaks the setup bars high buy 3 pips. For a sell it is the opposite.
Trade Managment and Exits:
1) When you hit 10 pips profit you set the stop to BE. Sometimes I set the stop when I hit 8 pips profit it just depends. I, like the 4H system, tried to make this as mechanical as possable but there are a few areas that I deviate on and that is up to you and you will learn in time what your prefrences are. In addition I also usually set my stop at 20 pips profit once the trade is 30 to 35 pips in profit. The more and more I trade the more I have come to realize that the market is more than happy to give you 20 pips here and 30 pips there, but 100 pip TP's without huge stops just dont happen very often in this very choppy market. Slow and steady with low drawdowns is the way to go. Once you realize this your over all % gains at the end of the month will be much higher.
2) Take half profit at 20 pips and exit the remaining half when you get a signal to go the other way. As an example you are in a buy. Price continues to make higher highs and higher lows, when price breaks the low of the last bar by 3 pips you would exit the remaining half with whatever profit you have. Unlike the 4H system you dont go the opposite direction you just want for another buy setup as long as price stays above the 60 EMA. If price breaks threw the 60 EMA and then sets up to go short you would go short.
3) I usually only take 2-3 trades a day if they present themselves, sometimes you dont get a trade but this is very very rare and everyday will be different. If I have had 2 sucessful trades I will usually call it a night. Were playing the odds here and ass you have one good trade after another the probability of a losing trade becomes higher. In addition to that 20-40 pips a day is not bad by any means and with the low drawdowns and the higher leverage you can use that translates into a lot of money.
4) If the price keeps going back and forth in a fairly tight range around the EMA I will usually take all buy and sell signals until it breaks out. As I already said I tried to make it as mechanical as possable but there are a few things that take a little practice and time to get used.
Other:
In general if there is something that needs to be added to the rules I would be more than happy to do that. Any and all suggestions should be PM'd to me so as not to be missed in all the other comments in the thread. Thanks for the help and support.
-Sterling
Above is my post from where I originally posted the system...I thought I would share it here as well. Im not to familiar with this forum but I will post charts here in a day or so. Hope this thread will be of some benifit.
Ok guys everynight I will be running a Skype room instead of trying to trade live in here. I will still answer questions in here but will be taking trades live in the Skype room. So if you like go to Skype.com and download it, its free. Then look for Sterling Suhr, and you have to select United States in the search options. Another way to find me on there is my Skype username which is sterling.suhr Send me a message and I will add you to my contacts and then I will add you to the forex group. If you have any questions about that feel free to PM me or ask in the room, either way. Skype official website – download Skype free now for free calls and internet calls The trade record keep below will be based on trades taken in the room given by me with exact entries, exits, and stops according to the system. As I said in the rules some parts of this system just arnt mechanical so some of the results may not be based on mechanical trading of the systems rules. Any changes I make are very simple and you will catch on fast in the room.I also wanna make it clear that this is the room for learning the system and its rules. Trying to learn the system in the room only clutters the already fast passed trading in the room. So learn the basics here and see it applied in the room.
Pips:
Im going to be keeping a running tally of the pips for this system. Right now we are +138 pips for the month of April. Took about a week off as well.
Preface:
The rules to this system are similar to the 4H system so if you understand the jist of that system you will have no problem understanding this one. It might benifit you if you have not looked at that to give that a look first and have a basic understanding of the 4H rules first. Using a smaller timeframe requires a lot more skill and knowledge so understand and demo this first before jumping in. As with my other system many many months went into testing this and fine tuning it and it is much more profitable and has a 1/10 of the drawdown of my other system. I hope you guys enjoy the system and as with the 4H I am open to suggestions on the rules and or wording of the rules I have posted.
Entry:
1) First thing you need to do is put a 60 EMA on a 5M chart of the G/U. I only trade the G/U with this system and would like the main focus of this thread to be about the G/U.
2) If price is below the 60 EMA you are only looking for sells and if price is above the 60 EMA you are only looking for buys. Price can however come down and touch and even break it a little and still be concidered for a buy. Now if it comes down and completly breaks it and then goes back up and hits it you would look for a sell. This will be easier to explain and for you to see once I post some charts.
3) You only take a trade after 2AM Eastern and only take a trade up until 3:30AM Eastern.
4) For a buy: Price is above the EMA and is coming down. Each bar that makes a lower low is the new setup bar. The trade is triggered when the next bar breaks the setup bars high buy 3 pips. For a sell it is the opposite.
Trade Managment and Exits:
1) When you hit 10 pips profit you set the stop to BE. Sometimes I set the stop when I hit 8 pips profit it just depends. I, like the 4H system, tried to make this as mechanical as possable but there are a few areas that I deviate on and that is up to you and you will learn in time what your prefrences are. In addition I also usually set my stop at 20 pips profit once the trade is 30 to 35 pips in profit. The more and more I trade the more I have come to realize that the market is more than happy to give you 20 pips here and 30 pips there, but 100 pip TP's without huge stops just dont happen very often in this very choppy market. Slow and steady with low drawdowns is the way to go. Once you realize this your over all % gains at the end of the month will be much higher.
2) Take half profit at 20 pips and exit the remaining half when you get a signal to go the other way. As an example you are in a buy. Price continues to make higher highs and higher lows, when price breaks the low of the last bar by 3 pips you would exit the remaining half with whatever profit you have. Unlike the 4H system you dont go the opposite direction you just want for another buy setup as long as price stays above the 60 EMA. If price breaks threw the 60 EMA and then sets up to go short you would go short.
3) I usually only take 2-3 trades a day if they present themselves, sometimes you dont get a trade but this is very very rare and everyday will be different. If I have had 2 sucessful trades I will usually call it a night. Were playing the odds here and ass you have one good trade after another the probability of a losing trade becomes higher. In addition to that 20-40 pips a day is not bad by any means and with the low drawdowns and the higher leverage you can use that translates into a lot of money.
4) If the price keeps going back and forth in a fairly tight range around the EMA I will usually take all buy and sell signals until it breaks out. As I already said I tried to make it as mechanical as possable but there are a few things that take a little practice and time to get used.
Other:
In general if there is something that needs to be added to the rules I would be more than happy to do that. Any and all suggestions should be PM'd to me so as not to be missed in all the other comments in the thread. Thanks for the help and support.
-Sterling
Above is my post from where I originally posted the system...I thought I would share it here as well. Im not to familiar with this forum but I will post charts here in a day or so. Hope this thread will be of some benifit.
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