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5Min Intraday System

  • #1,021
  • Apr 27, 2007 2:41am Apr 27, 2007 2:41am
No support found but I could be wrong. Hopefully I am wrong.

First two candles look great but then the pullback angle became too steep and 21MA became flat
Attached Image (click to enlarge)
Click to Enlarge Name: gbpu$ 20070427 no trade breakout.jpg Size: 71 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,022
  • Apr 27, 2007 3:44am Apr 27, 2007 3:44am
An example of the small breakout TL as dicussed
Attached Image (click to enlarge)
Click to Enlarge Name: u$jpy 20070427 no trade breakout.jpg Size: 71 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,023
  • Apr 27, 2007 4:02am Apr 27, 2007 4:02am
The outcome of set-up of Cable - acsending triangle. Not for a short trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpu$ 20070427 no trade breakout.jpg Size: 75 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,024
  • Edited 8:23am Apr 27, 2007 4:18am | Edited 8:23am
Great set-up. The second chart is the outcome of the first set-up
Attached Image(s) (click to enlarge)
Click to Enlarge Name: u$cad 20070427 set-up.jpg Size: 50 KB
Click to Enlarge Name: u$cad 20070427 great set-up.jpg Size: 58 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,025
  • Apr 27, 2007 10:14am Apr 27, 2007 10:14am
Quoting RobKnight6
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

Skype me at chanan13 and I will add you.
  • #1,026
  • Apr 27, 2007 10:43am Apr 27, 2007 10:43am
Look at the small bars support on 10EMA moving upwards. You close your eyes and you enter. 3 Possible trades that turn out OK.

Trade No 3 made it the end for the Eur up.
Attached Image (click to enlarge)
Click to Enlarge Name: 5Min Intraday.jpg Size: 53 KB
  • #1,027
  • Apr 27, 2007 2:15pm Apr 27, 2007 2:15pm
Quoting Phillip Nel
Thanks
I have read about everything on this Forexfactory forum. I have also study the James16. Are using some of it in my 4Hour strategy. I have been papertrading for two years reading and studying anything I could lay my hands on before starting to trade for real. There are a lot of scams out there. Have been on a lot of forums but did not participate due to the nastiness of those forums. Everyone turns out dirty somehow. This forum is the best that is out there. People does not hesitate to give there strategy so that other may benefit from it. I have learned so much the last two months on this forum and that is why I am giving something back because I believe that by giving one recieves.
Yes, great people on this forum, I have spent thousands $$$ to learn trading, now I refer people to here, it's free, & the best things in life are free, thank you forex factory & all the generous teachers,
  • #1,028
  • Edited 3:08pm Apr 27, 2007 2:37pm | Edited 3:08pm
Quoting Phillip Nel
Look at the small bars support on 10EMA moving upwards. You close your eyes and you enter. 3 Possible trades that turn out OK.

Trade No 3 made it the end for the Eur up.
Hi Phillip

Tx for the example - very helpful. I've compiled a word document with a "few" set-up examples for the past 2 months. I would like some comments on it at a later stage. I am looking for:

1. Small candles
2. Flat type of pull back
3. Some sort of Resistance (up trend) and Support (down trend) to form a small acsending or decending triangle awaiting a breakout within the war zone.

Am I making this too complicated?
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,029
  • Apr 27, 2007 2:41pm Apr 27, 2007 2:41pm
An example of my explanation in previous post
Attached Image (click to enlarge)
Click to Enlarge Name: u$cad 20070427 great set-up.jpg Size: 58 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,030
  • Apr 27, 2007 2:52pm Apr 27, 2007 2:52pm
Great set-up on cable today as well. I didn't take one of them. Why????
Attached Image (click to enlarge)
Click to Enlarge Name: gbpu$ 20070427 great setups.jpg Size: 78 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,031
  • Apr 29, 2007 8:48am Apr 29, 2007 8:48am
Attached is my 2nd version of rules for Phillip's 5 min system. It helps me to have the rules written down and hopefully I can trade according to/stay within the rules.

Enjoy this 5 min trading system of Phillip. It is really a good system if one follows the rules and identify the high probability trade set-ups. Ignore the bad ones (but not always possible - ask me!!!!!)
Attached File(s)
File Type: zip 5 min trading system THE RULES 20070429 Thread.zip   614 KB | 2,319 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,032
  • Apr 29, 2007 6:59pm Apr 29, 2007 6:59pm
Does it cost anything to listen in to Phillip on skype?
  • #1,033
  • Edited 12:33am Apr 30, 2007 12:18am | Edited 12:33am
Quoting Toothman
Does it cost anything to listen in to Phillip on skype?
Hi T

No, it doesn't cost anything. But it is a chat room where we type instant messages. No verbal conversations are possible.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,034
  • Edited 2:05am Apr 30, 2007 1:45am | Edited 2:05am
Anybody can post or direct to a mq4 indicator that shows MA angle in figures

thanks

james
  • #1,035
  • Apr 30, 2007 2:02am Apr 30, 2007 2:02am
Quoting Golfer
Attached is my 2nd version of rules for Phillip's 5 min system. It helps me to have the rules written down and hopefully I can trade according to/stay within the rules.

Enjoy this 5 min trading system of Phillip. It is really a good system if one follows the rules and identify the high probability trade set-ups. Ignore the bad ones (but not always possible - ask me!!!!!)

Thank you very much!

Regards - Xaron
  • #1,036
  • Apr 30, 2007 2:13am Apr 30, 2007 2:13am
Just a note: I think 6 Pips SL for the EUR/USD is ok, but for the GBP/USD much to less. You need at least 10 Pips SL and of course a higher TP or am I wrong?

Regards - Xaron
  • #1,037
  • Apr 30, 2007 2:20am Apr 30, 2007 2:20am
Just another question:

Regarding your SMAangle for the 21 EMA you write

"Wait for 21EMA on SMAangle indicator to cross the 0.1 or -0.1/0.15 or -0.15 line"

As I don't use Metatrader what does this indicator mean? Is it just the angle of the 21'er EMA like the 20° angle of the 50'er SMA?
Does this mean the 21'er EMA should have an angle above 10°?

Thanks and best regards - Xaron
  • #1,038
  • Apr 30, 2007 4:33am Apr 30, 2007 4:33am
hello good morning

today i did one short cable 1.9929 for +12, then two short eurjpy 162.60 for +12 and 162.47 -10, then usdjpy long 116.64 +8 right now are the gbp news, it might move now and in ny session maybe.
  • #1,039
  • Apr 30, 2007 4:37am Apr 30, 2007 4:37am
I took this one on USD CHF.

enter at 1,2079
Partial profit at 1,2089
exit at 1,2099
For a total profit of 20 pips
Attached Image
  • #1,040
  • Apr 30, 2007 6:49am Apr 30, 2007 6:49am
If 21EMA is in the zone (-.10 or+.10) but angle of 50SMA doesn't qualify, do you still take the trade? Forgive me if this has already been addressed but I've read the whole thread and don't remember anyone bringing this up. Thank you.
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