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Magic 5 - five pips only

  • #661
  • Dec 18, 2014 11:25am Dec 18, 2014 11:25am
Quoting PhilippineFX
{quote} Olarion1975 You have explained how to enter the Just 5 trade masterfully. Folks if someone handed you a pile of charts including the 1 5 15 30 60 240min with only the 5ma on them and nothing else you could not tell which time frame they are. That price action. The only difference between how the 1 min crosses the 5ma and how the 15min crosses is by the number of pips each candle represents. After you decide to enter the trade based on the 15 min cross go to the 1 min and try and find a pullback behind/above and wait for the same style of...
You are damn right, mate. I found that taking the pullbacks on M1 after the M15 HA candle closes below the 5EMA works perfectly.
One thing I found out: The M5 rarely gives a pullback after the M15 candle closed below the 5EMA. So more and more I will switch from M15 to M1 to find the best entry with the lowest drawdown.
  • #662
  • Dec 18, 2014 11:30am Dec 18, 2014 11:30am
Quoting Olarion1975
{quote} Thanks. Attached the ADR indicator. The best one I know of. I watch all my 21 pairs almost constantly for about 10 hours a day...ongoing switching through all of them and all timeframes to find the best opportunities while watching price action. {file}
Wow! Thats impressive :nerd:

Many thanks for the indi
  • #663
  • Edited 12:11pm Dec 18, 2014 11:58am | Edited 12:11pm
[Quote = Olarion1975; 7950184] {quote} Obrigado. Funciona Muito Bem. Como a configuracao "padrão" Funciona BOM Ue also Trabalho em Minhas finetuning Entradas não M5 e M1. ASSIM, o Levantamento e AINDA menor. Basta ir com o "Fluxo" das ondas de Mercado. Apos Encerramento da vela HA Abaixo / Acima da 5EMA deslocado 2, eu procuro Fazer hum pullback indo na Direção Oposta em M5 / M1 e, em SEGUIDA, Entrar na cruz o 5EMA em M1 UO M5. Funciona Como um charme. [/ quote]

Foi bom para ver isso no gráfico para entender melhor
Oh my English I mean put it in graphic to better understand​
  • #664
  • Edited 2:29pm Dec 18, 2014 1:59pm | Edited 2:29pm
here is inspiration for you.

grow grow, reach this level, then enjoy easier and faster trading

http://img.ie/images/epud3.jpg
always draw trendlines
  • #665
  • Dec 18, 2014 2:46pm Dec 18, 2014 2:46pm
Quoting tk5
here is inspiration for you. grow grow, reach this level, then enjoy easier and faster trading {image}
Awesome, good job!
Demo or Live?
  • #666
  • Dec 18, 2014 2:53pm Dec 18, 2014 2:53pm
Quoting Olarion1975
{quote} Awesome, good job! Demo or Live?
yes and no
always draw trendlines
  • #667
  • Edited 4:59pm Dec 18, 2014 4:47pm | Edited 4:59pm
ok. I decided to make little change in the system, considering characteristics of late hours trading sessions.
After close of London and following first two hours of NY session market slows down, narrows, mostly ranges happen BUT it's still tradable.

Some people psychically can afford trade during this period, so:

1. Use M5 (instead of M15): from 6 pm London up to first 5 hours of Asian ( in other words till 4 am London time)

2. Use M15 during London and London/NY overlap


note: during late trading sessions market move narrowly, candles are smaller (usually only 2 or 3 candles crossing ema5). thats why on m15 traders miss alot of pips. so on m5 one is able to break down one big m15 candle in 3 pieces.
always draw trendlines
  • #668
  • Dec 18, 2014 11:49pm Dec 18, 2014 11:49pm
TK5, that's because its DEC and a lot of the big boys are not trading, this will change beginning of next year, it is not a permanent thing. Its a lot harder to trade during NOV, DEC than other parts of year.
  • #669
  • Dec 18, 2014 11:56pm Dec 18, 2014 11:56pm
i just wanna say thanks to every one inputs and all the help.
its been great , i just wanna know has any one thought making this into an EA with filters?
  • #670
  • Dec 19, 2014 12:34am Dec 19, 2014 12:34am
Quoting tk5
ok. I decided to make little change in the system, considering characteristics of late hours trading sessions. After close of London and following first two hours of NY session market slows down, narrows, mostly ranges happen BUT it's still tradable. Some people psychically can afford trade during this period, so: 1. Use M5 (instead of M15): from 6 pm London up to first 5 hours of Asian ( in other words till 4 am London time) 2. Use M15 during London and London/NY overlap note: during late trading sessions market move narrowly, candles are smaller...
I did not want to post this 5 minute method but i use it all the time in quiet markets or before the first 15m crossing candle closes.
  • #671
  • Dec 19, 2014 1:42am Dec 19, 2014 1:42am
Quoting Byron88
i just wanna say thanks to every one inputs and all the help. its been great , i just wanna know has any one thought making this into an EA with filters?


Obviously you didn't read the thread ... Just read it and you will understand why your question is funny ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #672
  • Edited 1:59am Dec 19, 2014 1:49am | Edited 1:59am
Quoting tk5
here is inspiration for you. grow grow, reach this level, then enjoy easier and faster trading {image}
TK5,

One question if u don't mind. Why selling USDJPY when the trend was bullish yesterday all day long and price was above 200EMA?
And would be more inspirational if u could post a chart or two with with some of those trades
  • #673
  • Dec 19, 2014 2:16am Dec 19, 2014 2:16am
Quoting gigicualex
{quote} TK5, One question if u don't mind. Why selling USDJPY when the trend was bullish yesterday all day long and price was above 200EMA? And would be more inspirational if u could post a chart or two with with some of those trades
cause it was quiet evening m5 trade.
also, more experienced ones feel exhaustion of trend little earlier

http://img.ie/images/cvma1.jpg
always draw trendlines
  • #674
  • Dec 19, 2014 2:56am Dec 19, 2014 2:56am
2 wins and one lost for today. I'll publish only the lost trade maybe TK can provide some insight.

Went long audjpy after a green HA closing above 5EMA. Bullish trend, PA above 200EMA and rsi touching the 30 area and angel up.
Decided to close the trade for 11p lost at least to cover those 2 earlier winners
Attached Image (click to enlarge)
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  • #675
  • Dec 19, 2014 3:00am Dec 19, 2014 3:00am
Quoting gigicualex
2 wins and one lost for today. I'll publish only the lost trade maybe TK can provide some insight. Went long audjpy after a green HA closing above 5EMA. Bullish trend, PA above 200EMA and rsi touching the 30 area and angel up. Decided to close the trade for 11p lost at least to cover those 2 earlier winners {image}
Sentiment/momentum was bearish, the move was too big for a pullback. After such retracement wait for price going above 5EMA, below and then above again.
  • #676
  • Dec 19, 2014 3:10am Dec 19, 2014 3:10am
Quoting FerruFx
{quote} Obviously you didn't read the thread ... Just read it and you will understand why your question is funny ...

You beat me to it!!
  • #677
  • Dec 19, 2014 3:11am Dec 19, 2014 3:11am
Quoting Olarion1975
{quote} Sentiment/momentum was bearish, the move was too big for a pullback. After such retracement wait for price going above 5EMA, below and then above again.
Thanks Olarion!
When above again, good for a buy?
  • #678
  • Dec 19, 2014 3:14am Dec 19, 2014 3:14am
Quoting gigicualex
2 wins and one lost for today. I'll publish only the lost trade maybe TK can provide some insight. Went long audjpy after a green HA closing above 5EMA. Bullish trend, PA above 200EMA and rsi touching the 30 area and angel up. Decided to close the trade for 11p lost at least to cover those 2 earlier winners {image}
you and many others make the same mistake..entering long (those small pullbacks) following sharp decline in a trend.
always draw trendlines
  • #679
  • Dec 19, 2014 3:17am Dec 19, 2014 3:17am
{quote} Obviously you didn't read the thread ... Just read it and you will understand why your question is funny ...

Quoting kaiser soze
{quote} You beat me to it!!

Sorry Byron88.

you really don't want to go down that route. Please go and read the entire thread and you will come back laughing too....!!!

Thanks for my day with this laugh
  • #680
  • Dec 19, 2014 3:36am Dec 19, 2014 3:36am
Quoting tk5
{quote} you and many others make the same mistake..entering long (those small pullbacks) following sharp decline in a trend.
TK,

This strategy says to enter immediately after first candle crossing 5EMA so basically at that moment you cannot know if it's a small pullback.
About the sharp decline in trend and avoiding entering on pullbacks...well I still need to understand this part but I don't know from where to begin.

Let explain in few words what was my logic behind this trade. The trend is clearly bullish since 2 days ago. This morning price made a Higher high confirming again the sentiment. That sharp decline found support at 50% Fib so I considered just a pullback.
If I stick to the below rule would I be able to avoid such bad trades in future?
'If in a bullish trend the pullback consists in more than 4-5 strong bearish HA candles then stay away from buys '
*strong means 15pip or above per candle
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB
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