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5Min Intraday System

  • #1,101
  • Edited 12:32pm May 7, 2007 11:56am | Edited 12:32pm
Great example of a flat pull back between 2 steep pull backs. ThE MIDDLE set-up is the set-up I am looking for. One can see that the steep pullbacks went through the 21MA to the 50SMA - very risky trade. With the EURJPY a possibility but not a high probability trade.

Just take note thaT the 21MA on SMAangle was still in the no-trade zone. The move was a total of only 10 pips - break-even trade or 6 pips profit.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 20070507 flat pullback.jpg Size: 77 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,102
  • May 7, 2007 5:37pm May 7, 2007 5:37pm
hi,

it was holiday in london today, extremely slow but in the evening i could get + 10 in cable short at 1.9941 around 19hrs, lets see tommorrow, bye.
  • #1,103
  • Edited 6:10am May 8, 2007 5:58am | Edited 6:10am
Here are my four trades of the morning

1) Sell eur jpy at 162,77 closed at 162,55. Profit 12 pips
2) Sell Eur usd 1.3574 closed at 1.3560. Profit 14 pips
3) Buy Usd chf at 1,2151 closed at 1,2165 Profit 14 pips
4) Sell Gbp USD at 1,9926 closed at 1,9936. Loss 10 pips

30 pip profit for the morning. A good one after yesterday that was extremely quite.
You can find the chart of my trades attached in the zip file
Attached File(s)
File Type: zip trade of the morning.zip   37 KB | 761 downloads
  • #1,104
  • May 8, 2007 7:53am May 8, 2007 7:53am
My trade on Eur jpy was a big opportunity missed.
Look how this pair is trending today.
If I had set a partial profit and let the trade run I could have take a lot of pips.
Attached Image
  • #1,105
  • May 8, 2007 11:22am May 8, 2007 11:22am
Hello everyone,
Today I started late. Took a couple of trades with profit. By the way this method is designed for small profits and I am very happy with it. I will increase positions gradually.
Attached Image (click to enlarge)
Click to Enlarge Name: 05-08-07 usd-jpy.jpg Size: 80 KB
  • #1,106
  • May 8, 2007 12:50pm May 8, 2007 12:50pm
Hi,
Regarding the three files listed below:
1. Is it ok to put the SMAAngle.ex4 on my MT4 all by itself or must I put the "5 min intraday system.tpl" on first?
2. Later on when I'm more comfortable doing this can I add the "5 min intraday method.tpl" and the PhilNelSignals.ex4 on the same chart?
Thanks
jbone

1. 5min intraday method.tpl - this is the template file
2. PhilNelSignals.ex4 - the indicator that paints entry signals on the chart
3. SMAAngle.ex4 - the indicator that works in conjunction with 2.
  • #1,107
  • May 8, 2007 2:27pm May 8, 2007 2:27pm
Phillip's 3 little sisters visited us again today giving us a 18pip trade. Unfortunately I had another appointment but I saw it coming. Hope some of you did the trade for some pips.

Tx, Phillip for introducing me to them. As you said, they are very reliable visitors.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpu4 20070508 3 little sisters.jpg Size: 66 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,108
  • May 8, 2007 2:32pm May 8, 2007 2:32pm
Quoting jbone
Hi,
Regarding the three files listed below:
1. Is it ok to put the SMAAngle.ex4 on my MT4 all by itself or must I put the "5 min intraday system.tpl" on first?
2. Later on when I'm more comfortable doing this can I add the "5 min intraday method.tpl" and the PhilNelSignals.ex4 on the same chart?
Thanks
jbone

1. 5min intraday method.tpl - this is the template file
2. PhilNelSignals.ex4 - the indicator that paints entry signals on the chart
3. SMAAngle.ex4 - the indicator that works in conjunction with 2.
Hi Jb

Sorry but I am not sure about the mechanics of the 3 indicators mentioned. I just use the SMAangle indicator with the 21MA dragged on to it (as you can see on my charts). I think I do have the template in my template folder.

Hope you are enjoying trading with the SMAangle indicator - I am really starting to enjoy trading again (now that I do use Phillip's systems).
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,109
  • May 8, 2007 2:43pm May 8, 2007 2:43pm
Quoting Ishak
Hello everyone,
Today I started late. Took a couple of trades with profit. By the way this method is designed for small profits and I am very happy with it. I will increase positions gradually.
Hi Ishak

Great trade after a great set-up. Just look at the candles before your enter the trade - beautiful!

Well done AND yes, don't try and take 50pips per trade with this system. Go to the 4h MACD system if you want to. This is why I've taken up this system. I was looking for a reliable intra-day system with high % positive trades. And to take a few pips profit everyday.

You need to be satisfied with only 10-15pips profit per trade. Make peace with it. Don't get disappointed when the trend continues in your favour after you closed your trade.

DO take part of your profit (e.g. 70%) and let the rest run.

Intra-day trading is not easy - some gurus don't even do/recommend day trading as a method/system.

But with Phillip's system, there is light in the tunnel.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,110
  • Edited 3:09pm May 8, 2007 2:47pm | Edited 3:09pm
Quoting kunz78
My trade on Eur jpy was a big opportunity missed.
Look how this pair is trending today.
If I had set a partial profit and let the trade run I could have take a lot of pips.
Hi K

Just to repeat - look at the candles before your entry. Perfect small candles and flat(tish) pullback.

As ussual - well done! Seems like you are doing well with this system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,111
  • Edited 3:16pm May 8, 2007 2:51pm | Edited 3:16pm
Quoting kunz78
Here are my four trades of the morning

1) Sell eur jpy at 162,77 closed at 162,55. Profit 12 pips
2) Sell Eur usd 1.3574 closed at 1.3560. Profit 14 pips
3) Buy Usd chf at 1,2151 closed at 1,2165 Profit 14 pips
4) Sell Gbp USD at 1,9926 closed at 1,9936. Loss 10 pips

30 pip profit for the morning. A good one after yesterday that was extremely quite.
You can find the chart of my trades attached in the zip file
Hi K

I also would have taken that GBPU$ trade of yours resulting in a loss. Steep pullback but then it became flat - support and possible triangle forming. Just one of those trades.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,112
  • May 9, 2007 6:57am May 9, 2007 6:57am
today long gbpjpy 238.66 and 238.93 for +15 and +10
long usdjpy 119.93 for +12

that`s all today not bad, but majors were very flat in london session, hope ny improves.
  • #1,113
  • May 9, 2007 10:11am May 9, 2007 10:11am
Hi,
I dont know what exactly I am doing wrong or what I am missing out but I had 5 consequtive bad trades in the today and yesterday. Though I was not active for the whole time but which ever opportunity I picked I was stopped out and this happened 5 times.
I am using the Philnel indicator on Page 39 and also the SMAangle indicator.
I have kept the SMA angle setting at 0.22 and I trade only when the candle closes inside the "zone" ..
Please let me know if anyone else took the bad trades of yesterday and one which I had just 5 mins back...
I would be trying to read thru the whole thread again cause I seriously felt that this thing was working for everyone and no one had reported significant losses so far...
Is the chat room still functioning??? Cause I really need to talk to you people so that I correct whatever mistake I am making .. please let me know...
  • #1,114
  • May 9, 2007 12:13pm May 9, 2007 12:13pm
You should post the charts of your bad trades, so we can analize them together. I can tell you that you must not follow every signal of the indicator but only the best ones.

which are the best ones??
Only experience can tell you. Try to read all the thread; is full of good and bad examples. Specially look to the posts of philip (the creator of the system) and of Golfer who is doing a great job here analizing every single trade.

Good luck and do not give up because I think that it is a good system that can be profitable and helpful to understand price action
  • #1,115
  • May 9, 2007 12:42pm May 9, 2007 12:42pm
Quoting igauresh
Hi,
I dont know what exactly I am doing wrong or what I am missing out but I had 5 consequtive bad trades in the today and yesterday. Though I was not active for the whole time but which ever opportunity I picked I was stopped out and this happened 5 times.
I am using the Philnel indicator on Page 39 and also the SMAangle indicator.
I have kept the SMA angle setting at 0.22 and I trade only when the candle closes inside the "zone" ..
Please let me know if anyone else took the bad trades of yesterday and one which I had just 5 mins back...
I would be trying to read thru the whole thread again cause I seriously felt that this thing was working for everyone and no one had reported significant losses so far...
Is the chat room still functioning??? Cause I really need to talk to you people so that I correct whatever mistake I am making .. please let me know...
Hi I

Don't feel bad - I also had a bad month of April. 20-30 pips in the red. I was trying to take every trade and I've realised it just doesn't worked that way.

After my worst month it was back to the drawing board - the reason for my reviewed rules (on this thread a page or two ago). Now I am very patient. I am just looking for the perfect set-up and try toi memorise it. To identify it ago - like yesterday's 3 little sisters of the GBPU$. I only had two trades this month (like Phillip I do have a full time job making it worse) both positive.

I was listening and reading about the successes of the other traders on this thread and thought, "If they can do it, so can I". Forget about that thought. It doesn't work that way. You need to develop a style of your own. Post your charts and look at other's charts to see if you can see something you can use - like I am now using the small trend line to keep me out of bad trades.

Keep it up - we are here for support.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,116
  • May 9, 2007 4:38pm May 9, 2007 4:38pm
This is the most recent of the bad trades I had
Please let me know where I went wrong...
Attached Image
  • #1,117
  • May 9, 2007 6:32pm May 9, 2007 6:32pm
This is an example of a trend without pullback. This can happen often. This one happen during yesterday's Asian session. I was waiting for the set up.
P.S: Willem, thanks for keep posting and helping.
Attached Image (click to enlarge)
Click to Enlarge Name: 5-8-eur-jpy.jpg Size: 76 KB
  • #1,118
  • May 9, 2007 6:43pm May 9, 2007 6:43pm
This time I was on to it. Eur/Jpy trends really well usually. Took two trades with small profits.
Attached Image (click to enlarge)
Click to Enlarge Name: 5-9-eur-jpy.jpg Size: 76 KB
  • #1,119
  • May 9, 2007 7:21pm May 9, 2007 7:21pm
Igauresh,

1) Don't take the trades after the trends is exhausted.

2) A trader's own discretion is more important than indicators (I don't use 21sma indicator at all and I am doing well so far)


I start getting ready when I see a trend building on the 5 min chart. That means all MA's spreading out and price staying above all ma's in an uptrend and below in downtrend. But I don't enter a trade until I see a high probability set up.
I am still learning myself.

Hang around and it will get better.
  • #1,120
  • Edited May 10, 2007 1:09am May 9, 2007 10:46pm | Edited May 10, 2007 1:09am
Quoting igauresh
This is the most recent of the bad trades I had
Please let me know where I went wrong...
Hi I

Ah, I do feel for you - I had the very same problem last month. Too late into a trade. Last month I would have taken the very same trade. Looks like a smooth pullback - not too steep.

My comments on your trade:

1. The reason why I started using my trend line. The trend line was broken - no more trades for me.
2. Kobus Lotter's idea - Be careful when SMAangle went above 0.4 line. Trend can run out of steam.
3. Kobus again - ADX turn red, be careful.
4. Make sure you enter on the second candle in the zone - pullback from the 21
5. Allready a run on almost 100 pips - be careful.

Sorry, forgot to attach the chart - see next post.

Hope it helps you. Keep it up.
Willem Forex recipe for success = Patience, discipline & hard work.
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