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5Min Intraday System

  • #1,221
  • May 22, 2007 10:48am May 22, 2007 10:48am
Quoting johnedoe
Hey.. don't feel bad I used to say I was going to start a signal service and all you had to do to make a ton of money was enter your trades oppisite of me



Don't worry John!
No offense taken
  • #1,222
  • May 22, 2007 11:11am May 22, 2007 11:11am
Quoting kunz78
I took this trade on the cable but ended with a loss.
I entered at the second candle between the two ema but I was kicked out by a strong move down.

Enter 1.9724 exit with 8 pips loss
That was a solid wrong trade but still executed according to the rules. One of those. 15:40 Would have rectified that trade for the day. 20+Pips.
  • #1,223
  • May 22, 2007 11:14am May 22, 2007 11:14am
Quoting johnedoe
Hey.. don't feel bad I used to say I was going to start a signal service and all you had to do to make a ton of money was enter your trades oppisite of me
Where can I get this johnedoe.mq4. Would not mind in Alert or EA version.
Thanks
  • #1,224
  • May 22, 2007 11:24am May 22, 2007 11:24am
Quoting Phillip Nel
That was a solid wrong trade but still executed according to the rules. One of those. 15:40 Would have rectified that trade for the day. 20+Pips.

Unlikely I completely missed it, but it was really a nice one with a series of candle finding support on the 10 ema

Thanks for the advice Phillip
Attached Image
  • #1,225
  • May 22, 2007 3:51pm May 22, 2007 3:51pm
Hello. I'm (very) new arround here and I am very glad to meet you all. This is a wonderful efort to train people in the art of trading .. and for no cost!

Thank you very much!

I read a lot of this thread and I find it interesting. I use a demo account from CMC markets and my friends tell that it has the best charts arround. But I might not be so good to use it at it's power .. so here is my question:
1. how do you plot that MA_of_SMA_ANGLE 0.XXX ? Is that XXX the angle of 50SMA?...Because I am interested too in finding the 20+ angle ...
2. Don't you use any other indicator to make a possible entry point more reliable? RSI, MACD ... (beside lines to draw supp/resistance)
  • #1,226
  • May 22, 2007 3:56pm May 22, 2007 3:56pm
thank you all who spent their valuable times I read all the posts and applied to got my 10 pips /day almost what is the best time to sit in front of the pc (hunting) this strategy
  • #1,227
  • May 23, 2007 2:04am May 23, 2007 2:04am
Quoting petrol
Hello. I'm (very) new arround here and I am very glad to meet you all. This is a wonderful efort to train people in the art of trading .. and for no cost!

Thank you very much!

I read a lot of this thread and I find it interesting. I use a demo account from CMC markets and my friends tell that it has the best charts arround. But I might not be so good to use it at it's power .. so here is my question:
1. how do you plot that MA_of_SMA_ANGLE 0.XXX ? Is that XXX the angle of 50SMA?...Because I am interested too in finding the 20+ angle ...
2. Don't you use any other indicator to make a possible entry point more reliable? RSI, MACD ... (beside lines to draw supp/resistance)
Hi Petrol

Attached is a Word document explaining how to compile the SMAAngle indicator window. I hope it helps.
Attached File(s)
File Type: doc 5min system My Rules The SMAangle indicator window.doc   27 KB | 1,118 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,228
  • May 23, 2007 2:19am May 23, 2007 2:19am
0717 GMT now. I shorted at the candle (arrow) 1.2285 USDCHF, but don't know if I am following the rules correct. It has worked out ok.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070523 USDCHF 0715 GMT.gif Size: 17 KB
  • #1,229
  • May 23, 2007 2:57am May 23, 2007 2:57am
0754 GMT. A choice setup on the 1 min EURJPY, I think. But I missed this one!
Attached Image (click to enlarge)
Click to Enlarge Name: 20070523 EURJPY 0754 GMT.gif Size: 17 KB
  • #1,230
  • May 23, 2007 4:05am May 23, 2007 4:05am
Quoting emacro
0717 GMT now. I shorted at the candle (arrow) 1.2285 USDCHF, but don't know if I am following the rules correct. It has worked out ok.
Hi EM

It was a high risk trade not really according to the rules - sell from the 10MA. Not even signs of resistance from 10MA.

Like I said, some trades (not according to rules) do work out but only about 60% of them. That is what happened to me last month - I've tried to take almost every signal. What happened? My winning trades % moved down to 50% and profit ratio below 1.0. Not good. Your account can be wiped out very easily.

That is why I decided to review my rules and trade according to them. Even if it means that I'll miss a few nice trades. Already my %positive trades has increased. Yesterday was my first loss in a long time but I don't trade that often now (because of my rules).
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,231
  • May 23, 2007 6:06am May 23, 2007 6:06am
I have just cloesd a nice trade on the calbe after the news
I entered without a classic pullback in the war zone, but it seemed to me a nice pullback.
I closed it too early because I was afraid of 98 barrier, but 15 profit makes me happy.
Enter 1.9774 exit at 1.9799
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  • #1,232
  • May 23, 2007 7:27am May 23, 2007 7:27am
Today it's the perfect day for trading...
Other 15 pips on the E/$ using the 1 min chart
Enter at 1.3475 exit at 1.3490
I should learn to trade only in these days, that are not so rare in forex

Hope that you all took some pips
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  • #1,233
  • May 23, 2007 7:30am May 23, 2007 7:30am
145 pips in a day....
Why are not in my bank account??
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  • #1,234
  • May 23, 2007 8:06am May 23, 2007 8:06am
I did not write here since a long time - but today it has been a great trade on the cable since the BoE Meeting Minutes came out 9-0

I am trading this strategy with two units. I close the first unit at +1R and let the second unit run as long as possible by setting the Stop not too tight.

So I made +10 Pip with 1 Unit and +81 Pip on the second unit.

So this is +4,1R at last for the trade on the cable today.

Unfortunatley not every day is like this one - but the only way for me to make money is to go with the trend and not against it.
  • #1,235
  • May 23, 2007 1:18pm May 23, 2007 1:18pm
Quoting kunz78
Today it's the perfect day for trading...
Other 15 pips on the E/$ using the 1 min chart
Enter at 1.3475 exit at 1.3490
I should learn to trade only in these days, that are not so rare in forex

Hope that you all took some pips
No, I didn't trade because I played golf during the cable run. Also lost my golf bets.

Great trades - seems like you've enjoyed it. I'll take the next run.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,236
  • May 23, 2007 5:13pm May 23, 2007 5:13pm
Quoting Tschim
I close the first unit at +1R and let the second unit run as long as possible by setting the Stop not too tight.
...
So this is +4,1R at last for the trade on the cable today.
Sorry for my question .. What are +1R and +4,1R?
Congrats for your wins!
  • #1,237
  • May 23, 2007 5:19pm May 23, 2007 5:19pm
It means Risk Reward Ratio

With a stop loss of 20 and a profit of 80 you have a RR of 4:1
  • #1,238
  • May 23, 2007 10:25pm May 23, 2007 10:25pm
Quoting Golfer
Hi EM

It was a high risk trade not really according to the rules - sell from the 10MA. Not even signs of resistance from 10MA.

Like I said, some trades (not according to rules) do work out but only about 60% of them. That is what happened to me last month - I've tried to take almost every signal. What happened? My winning trades % moved down to 50% and profit ratio below 1.0. Not good. Your account can be wiped out very easily.

That is why I decided to review my rules and trade according to them. Even if it means that I'll miss a few nice trades. Already my %positive trades has increased. Yesterday was my first loss in a long time but I don't trade that often now (because of my rules).

Golfer
Thank you for the words of wisdom.
  • #1,239
  • May 24, 2007 2:21am May 24, 2007 2:21am
Quoting emacro
0716 GMT. EurJPY looks to be a good setup to take short.

Be careful in 40 minutes there are important news for the €.
And also look at the two bars of the pullback, they are very big.
It could be a reversal and not a pullback.
I would not trade it
  • #1,240
  • May 24, 2007 2:52am May 24, 2007 2:52am
You were right EMACRo

there was a big sell off of €
Look to this article

DJ MARKET TALK: EUR Crosses Seen Correcting Lower - Commerzbank
Thu May 24 03:39:53 2007
EDT
0739 GMT [Dow Jones] Looking at the charts the major EUR cross rates seem to
be sending out signals that downside corrections are on the way, if not already
in progress, notes Commerzbank's Karen Jones. She says EUR/GBP severed its
uptrend Wednesday and near-term risk in toward 0.6740 prior to a recovery.
EUR/JPY is holding just below long-term Fibonacci and major upside objective of
164.05, but with loss of upside momentum a correction toward 160.70 (23.6%
Fibonacci retracement from the 150.75 March low) cannot be ruled out, a break
of 162.99 alleviates immediate upside pressure. EUR/CHF continues to back away
from major resistance between 1.6580-90 and the daily RSI momentum oscillator
shows signs of a triple divergence, implying 1.6612 was an interim top and a
correction toward 1.6445 is underway. EUR/GBP trades at 0.6769, EUR/JPY 163.35,
EUR/CHF 1.6515. (GST)
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