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The 5 minute TF S&R trading system

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  • Post# 2,121
  • Quote
  • Feb 21, 2013 11:03am
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
+15 today
Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,122
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  • Feb 21, 2013 11:08am
  • Good Lookin
    Joined Jun 2011 | 627 Posts | Status: The early bird gets the worm..
Quoting fxpivots
Target hit for 2% G L that's exactly how I manage the trade
GJ sir, i see your style is evolving
But the second mouse gets the cheese
  • Post# 2,123
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  • Feb 21, 2013 11:44am | Edited at 6:17pm
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
. First Vegas not understanding your trade. We trade of 5 min we use 2b to go other way you need to clarify what your doing. Snail I never enter on news candle but what follows. Price had a closing high was 09 price pulled back then news candle made high of 27 so there's enough room to hit target price pulled back and the rear wax history HERE IS CHARTS
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  • Post# 2,124
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  • Feb 21, 2013 6:15pm
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
Quoting fxpivots
First Vegas not understanding your trade. We trade of 5 min we use 2b to go other way you need to clarify what your doing. Snail I never enter on news candle but what follows. Price had a closing high was 09 price pulled back then news candle made high of 27 so there's enough room to hit target price pulled back and the rear wax history
Entry after pullback from high of news candle. I did that way. Wanted to clarify whether understand this part correct. Thanks for clarification.
Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,125
  • Quote
  • Feb 21, 2013 11:33pm
  • FXVegas
    Joined Feb 2013 | 4 Posts | Status: Member
Thanks Snail and FXPips,

I will detail what I am doing and help me understand how I can improve. I truly appreciate your help and have been trying to get caught up on the thread. It is extremely diffucult to replicate the same type of trading style when I review the charts that you two have posted. I need to spend a lot of time backtesting and forward testing the system to help me see what you two are seeing. I hope you dont mind if I post a couple outdated charts as I backtest the system to help me understand. Also, I wanted to get your thoughts on higher time frame analysis. I know that many traders like to look to higher time frames to get the market trend and then use the lower time frames to get into the trade. Do you use the same type of analysis or do you pull up only the 5M chart and dont worry about what is happening on higher TF's. Thanks again!!!
  • Post# 2,126
  • Quote
  • Feb 22, 2013 4:02am
  • Jhfx
    Joined Jul 2011 | 109 Posts | Status: Member
hi all,

took buy on EU 5min ago.
the price just jumped up!!!

awesome!

J
  • Post# 2,127
  • Quote
  • Feb 22, 2013 8:50am
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
I did not take the long at 86 because we had 2 123s which means consolidation and break of point 2 was only 8 pips
  • Post# 2,128
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  • Feb 22, 2013 9:18am | Edited at 9:52am
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
I took 807 GL style long, then extension is almost 14 pips.

Closed at BE
Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,129
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  • Feb 22, 2013 10:11am
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
If nothing changes I will sell at 75
  • Post# 2,130
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  • Feb 22, 2013 10:59am
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
Well no entry crappy week did manage to make 2% so it's not a total loss
  • Post# 2,131
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  • Feb 22, 2013 11:29am
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
Quoting fxpivots
Well no entry crappy week did manage to make 2% so it's not a total loss
and nice weekend
Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,132
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  • Feb 25, 2013 8:51am
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
Will sell at 03 unless something changes
  • Post# 2,133
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  • Feb 25, 2013 8:56am
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
1.3303 short; that was a very quick +15
Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,134
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  • Feb 25, 2013 9:01am
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
And what happened after ???
Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,135
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  • Feb 25, 2013 9:02am
  • tbjohnton
    Joined Jan 2011 | 152 Posts | Status: Member
italian election polls released
  • Post# 2,136
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  • Feb 25, 2013 9:14am
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
Interesting senario my 03 short was not hit but my 89 long was hit had no idea italian election was happening very fortunate
  • Post# 2,137
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  • Feb 25, 2013 9:28am
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
Quoting fxpivots
Interesting senario my 03 short was not hit but my 89 long was hit had no idea italian election was happening very fortunate
FX can you please advise reasoning of 89 long after 123 above ? Thanks.
Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,138
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  • Feb 25, 2013 9:42am
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
Ok we we're in uptrend last higher high before we went up to top then we got a 123 break pullback some got triggered at 03 mine didn't but the area that the chart says to me where we full get a bounce is 89
  • Post# 2,139
  • Quote
  • Feb 26, 2013 7:58am
  • snail69
    Joined Jan 2010 | 545 Posts | Status: less is more
long 1.30872 GL style entry: +15 ( thank you GL for showing the way) (including trade management)
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Wait-Execute-Manage (:waiting: - the longest part)
  • Post# 2,140
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  • Feb 26, 2013 8:31am
  • fxpivots
    Joined Feb 2007 | 873 Posts | Status: Member
Will short if it comes back to 86
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