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5Min Intraday System

  • #1,001
  • Apr 23, 2007 8:37pm Apr 23, 2007 8:37pm
excellent observations golfer,

its 8pm here i am short gbpjpy 236.97 and usdjpy short 118.45 in both more than 10 pips.
  • #1,002
  • Apr 24, 2007 3:06pm Apr 24, 2007 3:06pm
Examples of today just to show you how one should not ignore trendlines in the 5 min system. Just look at the eurjpy once again - I am sure one of Blanca's favour pairs?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy 20070424 trendline trade 2.jpg Size: 75 KB
Click to Enlarge Name: gbpu$ 20070424 no trade breakout.jpg Size: 74 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,003
  • Apr 24, 2007 3:28pm Apr 24, 2007 3:28pm
Just an example how not to trade the 1 min news. Just look at the "perfect set-up but way too late. I think Blanca mentioned on the chat today that she only takes the first set-up news set-up.

There are two other set-ups earlier (after the news release) but I was waiting for a price nearer to the war zone. Another leason learned - take it from the 10MA.
Attached Image (click to enlarge)
Click to Enlarge Name: euru$ 20070424 news 1min.jpg Size: 73 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,004
  • Apr 24, 2007 3:50pm Apr 24, 2007 3:50pm
hi golfer,

its a real pleasure to see your charts and the perfect explanation of how not to take the news using 1min, as you well said, taking news is a hard work but could be taken at the begginning of the trend, first patterns, i took today several trades from eurjpy, usdjpy, gbpjpy and in gbpusd took 1min chart , during the news, a long good for 15 pips. right now i am long eurjpy 161.54, 5mins chart, so nice how you can find trendlines, formations, flags, etc in every entry, excellent stuff congratulations.
  • #1,005
  • Apr 25, 2007 4:04pm Apr 25, 2007 4:04pm
2 high risk trades but currently I am looking at certain price action. Did work this time.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpu$ 20070425 great examples.jpg Size: 75 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,006
  • Apr 25, 2007 4:34pm Apr 25, 2007 4:34pm
My trade today on my mobile phone - no SMAangle on that platform. I did it the old fasion way - looking at the angle of the 50MA. I was also looking for the triangle being formed. Then I had to leave the trade alone - to go and play golf. the reason for the 18pip TP.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 20070425 1 trade.jpg Size: 77 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,007
  • Apr 25, 2007 9:13pm Apr 25, 2007 9:13pm
Quoting Golfer
My trade today on my mobile phone - no SMAangle on that platform. I did it the old fasion way - looking at the angle of the 50MA. I was also looking for the triangle being formed. Then I had to leave the trade alone - to go and play golf. the reason for the 18pip TP.
Looks like you are now either a trend trader or trading naked.
If simple is good. Simpler must be gooder.
  • #1,008
  • Apr 26, 2007 2:53am Apr 26, 2007 2:53am
Started taking your 5min system on the real account at the beginning of the london session today. Gotta say I'm really loving it, 2 hours in I've taken three trades, Cable, USD/JPY, EUR/JPY (all longs) and have managed to snag 12.2, 10.2, and 16 pips (+38.4) so far. Excellent R:R ratios, two thumbs up.... just wish I could find the skype chat for this system...

Thanks once again Phil!
Rob
  • #1,009
  • Apr 26, 2007 5:40am Apr 26, 2007 5:40am
Hi dariuske, is this your latest PhilNelSignals version? If not, can you send the mq4 file for me ... just testing some adx things.

Quoting dariuske
Here is the mq4, as promised.

The ex4 file of the PhilNelSignals will expire on Feb. 1st.
Just save this one in your indicator folder and compile it.

Regards, Dariuske.

PS: Concerning the multiple sound alerts. (I just read that question.)

Once your attention is drawn to the screen by the alarm, you can put the UseAlert parameter to false if you don't want to here the sound anymore.

The reason I did it that way, is because you can always be distracted by something and not hear the first one. That would mean you could have missed a trade without knowing. Now you need to go to your screen and have a look.

So while in front of your screen and tracking what's going on, you can put it off. And once you think the action is over and you are leaving to do something else, you put the UseAlert parameter back to True to catch the next action.
  • #1,010
  • Edited 1:58pm Apr 26, 2007 1:48pm | Edited 1:58pm
A trade entered to early - SL taken out. Unfortunately I was not able to follow the up-trend because of my full-time work. There was one or two set-ups later in that trend.

Very interesting to see the effect of the TL day (trendline from 8/8/2006, 12/12/2006, 3/1/2007, 22/2/2007). Defintely not to be ignored - my fault with this trade. I should have waited for a pull-back towards the TL - around 09H00GMT on the chart (high probability trade)

Always something to learn in each trade - don't let it pass.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 20070426 1a trade.jpg Size: 79 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,011
  • Apr 26, 2007 1:59pm Apr 26, 2007 1:59pm
and look the cable...

this morning gave a lot of signal
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd.jpg Size: 50 KB
  • #1,012
  • Apr 26, 2007 2:29pm Apr 26, 2007 2:29pm
Quoting kunz78
and look the cable...

this morning gave a lot of signal
Hi K78

Wow, great classic set-ups. Just look at the support found each time before a break. I hope you got some of it. I was unfortunately too busy.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,013
  • Apr 26, 2007 2:47pm Apr 26, 2007 2:47pm
Quoting kunz78
and look the cable...

this morning gave a lot of signal
Hi K78

Just the possible outcomes of your chart/set-ups.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpu$ 20070426 possible trades.jpg Size: 75 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,014
  • Apr 26, 2007 2:56pm Apr 26, 2007 2:56pm
Will you're doing great analysis of this system.
I hope that you re making a lot of pips.
I'm very busy with my job and it is impossible to look charts all day


Good luck
  • #1,015
  • Apr 26, 2007 3:13pm Apr 26, 2007 3:13pm
Quoting kunz78
Will you're doing great analysis of this system.
I hope that you re making a lot of pips.
I'm very busy with my job and it is impossible to look charts all day


Good luck
Hi K78

I am also too busy during the day. Sometimes I do have time to look at the charts but I've realised that one just cannot just quickly look at a chart and enter a trade. That is what happen to my EURJPY trade posted earlier.

One need to do proper analysis of the market - that is what I am doing rights now at home. Look at how great the set-ups look like to recognise them if they do come again. The reason why I post some example on this thread and print them for myself.

It is very easy to look back and see the set-ups. I've realised that it is a total different story when it comes to live trading. I am struggling with the enter - most of the times too late resulting in a loss.

But I am slowing getting there.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,016
  • Apr 26, 2007 3:27pm Apr 26, 2007 3:27pm
today a lot of signals,

i took only some, 3 short cable, missed one.
usdjpy 4 trades 4 longs , one loss
two eurjpy longs, one loss, one gain.
two long gbpjpy one loss , on gain.



very good day, lets see tommorrow.
  • #1,017
  • Apr 26, 2007 3:34pm Apr 26, 2007 3:34pm
The 2 trades on EURU$ late/early today. I do like the first set-up - look at the candles before the break. Small & almost level with triangle being formed. I think this is what Phillip was talking about - look at how a great set-up look like. Not a steep pull-back to the 10 or 21MA.
Attached Image (click to enlarge)
Click to Enlarge Name: euru$ 20070426 possible trades.jpg Size: 78 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,018
  • Apr 26, 2007 3:38pm Apr 26, 2007 3:38pm
Quoting blanca
today a lot of signals,

i took only some, 3 short cable, missed one.
usdjpy 4 trades 4 longs , one loss
two eurjpy longs, one loss, one gain.
two long gbpjpy one loss , on gain.



very good day, lets see tommorrow.
Hi Blanca/C

Great - hope you've enjoyed it and let the profits run. Thanks for your valuable inputs on the chat. I do enjoy it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,019
  • Apr 26, 2007 8:36pm Apr 26, 2007 8:36pm
Quoting Golfer
Hi Blanca/C

Great - hope you've enjoyed it and let the profits run. Thanks for your valuable inputs on the chat. I do enjoy it.
Is there a chance I can listen in tomorrow morning (friday) during the New York session? Is it by invitation only? I have been very successful using the system except for lately. I need to get back to the basics and it would be great to listen in to see where I'm going wrong as of late.

Thanks!
Pip Hunter
PipHunter
  • #1,020
  • Apr 27, 2007 2:10am Apr 27, 2007 2:10am
Quoting Pip Hunter
Is there a chance I can listen in tomorrow morning (friday) during the New York session? Is it by invitation only? I have been very successful using the system except for lately. I need to get back to the basics and it would be great to listen in to see where I'm going wrong as of late.

Thanks!
Pip Hunter
Hi Pip Hunter

I'll be playing golf with the opening of the NY session but do send (PM) me your skype name and I'll see what I can do. We've tried with Kobus Lottering this week and luckily with success.
Willem Forex recipe for success = Patience, discipline & hard work.
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