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The Force 5min system

..EU short, with stop now at b/e. The stochs weren't perfect for this one but price action (S1 resistance) gave me the confidence to get in. The initial stop was 11 pips.

Edit: out for b/e.
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Nice trades SideFX... Keep it going!
Hello everyone.
I have some "newbie doubts" about this system and I hope the thread is still followed and supported because it looks like very interesting and easy to apply.
In particular this doubts are about the PDF attached in the first post of the first page of this thread.
(I hope my questions are well written because of english is not my mother tongue)

1) I tried to search the Internet for OVERBOUGHT/OVERSOLD , but I only found the definition "The price has moved TOO far and fast in eiter direction" but what is BASED ON this "TOO"?
2) There are a set of ""BUY signals" and "SELL signals" (4 for BUY for 4 for SELL). I wonder: should I wait for ALL the signlals listed or 1 of them is enough to start a BUY/SELL operation?
3) "Stop Loss is the low of the previous candle or 20 pips but 20 pip min.". Does it mean that I should set "stop loss" to the "minimum"(in case of BUY,and "maximum" in case of SELL) of the last candle (or the previous one??) and that if the minium/maximum is not at least lower/higher than 20 pips I set STOP LOSS = 20 pip ?
4) "Close is based on price action."(SELL signal). What does it mean exactly?
5) "The Signal candle/bar closes higher bullish". I know that "bullish" means "RISIGN trend" but what does "HIGHER bullish" mean exactly?
6) "The MACD closes higher than the previous time interval" : does it mean that the last candel of the indicator (MACD colored v102*) has to close at higher value that the previous candel of that* indicator?
7) *Risk is set to 1%*: what does it means? Maybe,is it related to the "RISK CALCULATOR" Excel spreadsheet attached?

Thank you in advance for any advice regarding my doubts.
Hello,

missed one indicator in the original template in post one. Here it is.

One of the best scalping systems out here. Thank you.
Attached File
File Type: ex4 #Signal_Bars_v7.ex4   43 KB | 85 downloads
Hi, I am in FX trading since nov. 2009 and I am reading about this system just now. It's nice, simple and logical system. I hope that this thread will be continue... thank the author of this threat...I am from Czech republic, trade only E/U on TF M5..
Quoting babetko
Hi, I am in FX trading since nov. 2009 and I am reading about this system just now. It's nice, simple and logical system. I hope that this thread will be continue... thank the author of this threat...I am from Czech republic, trade only E/U on TF M5..
I will keep an eye on the thread. Very familiar with this system, don't use it much anymore. May fire it up if there is some interest.

Rufus
Quoting Rufus
I will keep an eye on the thread. Very familiar with this system, don't use it much anymore. May fire it up if there is some interest.

Rufus
Hi, can I ask you...what sessions do you trade?
Quoting babetko
Hi, can I ask you...what sessions do you trade?
Varies, right now US open
@Rufus because of your familiarity with this system,could I ask you a simple question?
What do mean exactly the colors of the MACD,that is,what is the difference between green and red? and "The MACD closes higher than the previous time interval" : does it mean that the last candel of the indicator (MACD colored v102*) has to close at higher value that the previous candel of that* indicator?

Thank you in advance

Quoting Rufus
Varies, right now US open
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Quoting babetko
Attachment 1122114
Stocha M5 and M15 are not in very good position....
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Quoting drag123XP
@Rufus because of your familiarity with this system,could I ask you a simple question?
What do mean exactly the colors of the MACD,that is,what is the difference between green and red? and "The MACD closes higher than the previous time interval" : does it mean that the last candel of the indicator (MACD colored v102*) has to close at higher value that the previous candel of that* indicator?

Thank you in advance
All the colors are for is to help show that a MACD bar is closing above (green) or below (red) the previous bar. The two MACD in the attachment have the same settings. The only purpose of the color is for ease of seeing differences.

And yes close higher for longs.

Rufus
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Thanks Jedi for introducing such a nice system and all others who were contributing afterwards. I'm newbie trader. This is the first one for me which proved to be a winner for me. I haven't finished reading the whole thread though. I also haven't mastered the system fully. Reached 149th page of this thread. Can't wait to finish it. Continuing my demo trade with the system with considerable profits.

mazis
Quoting Rufus
oops posted on me..

This past years stupid mistakes.

1. Not letting my signal candle close. My biggest offender

2. Getting my mind pulled off the task at hand. Recently, The Three Goat Formation.

3. Trying to trade when my mind is distracted with other problems, or feeling overly tired or sick.

..........

Rufus

Same mistakes on my part too.... Trying to overcome these. Being a newbie it's too tough still now..... rush of blood at the presence of a good moving signal candle.....

Patience....Patience....Patience... .

Mazis
Quoting mazis12
Same mistakes on my part too.... Trying to overcome these. Being a newbie it's too tough still now..... rush of blood at the presence of a good moving signal candle.....

Patience....Patience....Patience... .

Mazis
Hi Mazis

Thanks for posting that. It has reminded me where I was over two years ago and where I am now. A lot has changed. I think the two most important qualities a trader needs is discipline and patience. Personally I think those qualities are more important then any trading system.

Trade safe and enjoy the journey

"Do you wish to gamble blindly in the hope of getting a big profit or do you wish to speculate intelligently and get a smaller but much more profitable profit?"

"It would not be so difficult to make money if a trader always stuck to his speculative guns."

Jessie Livermore

Trade well

Rufus
This strategy still produces pip. I'm now trying to learn how to filter the trades that are looser. Studying Sam Seiden articles and demo trading the force 5m system.

Mazis
Quoting forexjedi
Traders, Detailed below is my newest strategy. I invite eveyone to try it out as it does produce good profits if traded correctly. By good profits I mean you make pips everyday even if its only a few. Ive only traded this strategy on the Eur/Usd. Please see the attached PDF file for more information. Information resources: http://www.babypips.com/school/ http://www.investopedia.com/dictionary/default.asp msn chat: theforcefx@live.com ("theforcefx@live.com") Live Chatroom: http://force.appruv.com...
Very glad to see this article. And I use a minute trading systems have in common. Want to study well. Thank you very much!
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