5Min Intraday System

Quoting salcidon

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Hi, i was Daniel... Unfortunetly i closed that trade too early. Golfer rules that a trand longer then 5-6 candles its not ok... i closed that trade at 1.3426 with only 4 pips profit... Very good CHECKstar for your experiente and patience. Only this 5-6 candle rules made me close the trade..
Anyway its very ok.. a saw trandes ho pull back ufter this 5-6 candles so its ok.
Good luck and i wish u a very good week!

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Quoting Golfer

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Hi Daniel

Nothing wrong with what you've done (taking earlier profit). It happened to me too often - change of trend and my few pips profit turned into the 10pips loss. So now it is just my style of trading - conservative.

You can stay in a trade and take the risk (and won). Don't take me wrong. It is the same with taking each and every trade set-up in the war zone. My % of positive trades decreased from about 80% to 45% in April this year (being a high risk trader) and that why I started compiling My Rules. Now I try to stay with it and not being a high risk trader. I try to identify the high probability trades and exit a trade if I don't feel comfortable with the look of that trade. And I don't feel bad if the price move in my direction after I've closed my trade. Just wait for the next high probability - there will be many others.


That is why you need to decide for yourself what kind of trader you are and develop your own style of trading. If you decide to be a high risk trader - go for it!

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Quoting salcidon

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Like you see i downt love to much the risk... I prefer good rules and a very good and solid strategy. Its true that with this attitude we will lose some good setups... but i think in almoust every day we can find at least 1 good setup. And if its a good day even more...

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Quoting Phillip Nel

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Some more samples

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Quoting petrol

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Hello my friends! I am glad to be back on the forum ... I was in Germany .. as I see Golfer did a good job AGAIN. Thank you Golfer.

Salcidon .. are you from Romania too? Do you know Marius Ghisea?

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Quoting emacro

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1019 GMT. Salcidon, my thinking is to try to use the system to get a good entry, to get on the right side of a trend. Take 10 pips or so off on 1/2 of the position and try to ride the trend. This is slight modification on Phil's pure system. One good trend move can make the difference to the profitability in for the week.

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Quoting salcidon

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What do you think about this seput?
What wasn't ok? I entered short at 1.9903 it falls a little until 1.9889 but then it gon up... and hit my stop

Any idee what i did wrong?

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Quoting ira

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Willem, I have worked through your files and want to thank you again for excellent work! I have got some questions if you don't mind:

Hi Ira

My answers in between your message in Bold

1. In 1.4.2 of your Rules you write about Isma 3 indicator. Does it substiture a trend line on ADX?

No not really. After a discussion with HelloDollie last week I've decided to give it a try. I've just put it in the rules so that people are not confused when they see it in my charts. I am still playing around with it. No fixed rule yet.

2. There was a discussion on thread that for some pairs we need larger SL and TP, what is your final view on this point? Do you place a larger SL and TP on U/J or G/U?

I just trade my four pairs as mentioned in the begining of the MY Rules and according to the set rules which I found acceptable. I haven't tested any of the other pairs. Therefore I cannot comment on that.

3. I know that it's not in your doc, but can you please say how do you use pivots. For exampe if there is pivot line or s/r line from pivot, will you open the position or wait for close below/above it?

Very interesting question. I do use pivot lines as a target for profit taking and use it to identify high probability trades. If a pullback is just above a support/resistance line and it is a long set-up, the changes are that the trade would be successful, is beter.

See attached examples

Can anyone refer me to the place I can read about pivots?

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Quoting Golfer

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Hi Daniel

That's it! Don't worry about the trades that got away and don't get desperate.

Analise your trades afterwards and think about it. But don't let bad trades & wrong decision worry you. Think of what are you going to do in future trades.

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Quoting RisingSun

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Hi emacro from Tokyo,

I have been following your posts with great interest as I am trading the Asian time. Hoping to see more ...

Thanks,

Akira

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