5Min Intraday System

To Rem,

if you want to join the chat room, first thing to do is you must download the skype.

Just go to the www.skype.com

And then, tell us your id and we will add your id to the chat room.

We waiting for other people to join the chat, the more people, the merrier...

See you...

So plaese add me to this 5min chat. My ID: rem2re
Tia
Rem

Yes the warning was timely Golfer, was already in and was stopped out of the trade.... Goes with the territory of trading, and illustrates the importance of stops.

Petrol, I signed up for skype as emacro888. What now for chat room?

Plz let me into the chat room.
My id:ero200.

as a newbie, this thread has been a real inspiration to me and changed the way i'm approaching forex trading, with the ultimate aim to do it fulltime eventually. especially with such legends as phillip and golfer sharing selflessly what they have learnt. mooi manne!

however of late it seems the focus has moved to be in the skype room. i can't access skype at work since it's blocked on my gprs/3g contract (i don't use my company bandwidth for monitoring forex). also i don't think i would want to [be on skype], as i don't want to get in the habbit of relying on the general consensus of the collective to enter a trade - for me that would be a false sense of security.

so it's a real shame that this now seems to have become a place simply to request entry into the realtime skype world. am i the only one to have noticed this? seeing people post charts with a two liner analysis have been very useful as a learning tool, even if it is always going to be after the fact. often i have recognised setups that i saw forming at the time. having the post mortem analysis to refer to is permanent - even if we had the transcripts of the skype sessions you'd have to go dig back to get the charts the comments referred to.

it's a pity my first post here had to be a moan.

good weekend to all!

sf412

Could you please ad me to chat room. Skype ID - kristjantelve

As far I can see only the last 1 or 2 pages of this thread are more loaded with askings to add some people to skype group chat. And it is a good thing. Some of them still need a confirmations for a trade. And if I or Philip or anyone else on the chat can explain that person that the setup that person sees on the chart is not quite right then I consider I did a good thing not leting that person to loose money in bed entry.

A chat group is also good for a quicker help in seting up a metatrader to show charts to someone's computer exactly that they are on the forum.

The forum is priceless and I read the most of it. I am gratefull to all the contributors and I would like to say that this is like a new wander of the world that some people share FOR FREE ideas and advices for other people to make REAL GOOD money.

And the chat is a natural continuation in the world of internet for those people that would like to talk to each other much more and much quickly then a forum can offer them.

I am not ashame of participating to the chat.
Please people, do not inflate this discution and let the forum be what it was supose to be.

Maybe i was wrong with my post above .. I will delete or edit it if I can.. Excuse me if I was wrong in your oppinion.

So, again, thank you people for sharing your experiences.

P.S. It is too late to edit or delete my post above ..

First off, its not a pity, your first post isn't a moan, you are giving a good opinion. Feels much better to read an opinion as a first post rather than a "Hi, great method, please send expert advisor to my email -> [email protected]" LOL

But still, look around, this thread is filled with countless great charts that all the great contributors here have posted. And skype chat isn't a simple "dictate me your trades" kind of thing. We actually discuss entries and setups, talk about trades, and teach each other whatever knowledge we know or have gained in our trading careers.

At the end of the day, if any of us have a great trade that we believe is worth a display here, we post it, explaining how and why we entered.

After all, I believe the great charts and trades posted here are what pushed people to request joining the skype room.(Including me)

Good weekend to you too

I do see the purpose of Skype as:

1. Live discussion as a trade setup is starting to develop and share ideas/opinions about it.

One should not use the chat primarily to enter trade. Too much distraction and I even sometimes ignore the chat when it comes to pull the trigger.

Also it should not be used to have mutual agreement when to enter a trade. Not all the charts/price feed are th same. People will get confused when such decisions are made. One should decide for yourself.

Afterwards I'll post my chart so that people can see what I was talking about.

2. To have a private chat on certain trading issues. Also to send/share files/charts immediately. Not available on FF.

I'll post some of the chat's discussion if I think other members may benefit from it.

To conclude:

FF is still my primary site to share information on the 5min system.

You'll only see me on the Skype chat after 15H00 GMT and only there is a possible setup developing/issues to be discussed. I'll stay out of any private chat and I hope all the other members will do the same.

Please contact individual privately if you want to have a private chat

Hi Golfer,

Could you please add me to the Skype chat. My id is befreenow1

Thanks also to you and all the others for sharing so much.

Tim

hi, my skype id is recreator82 and i would be glad to join the chat room

Petrol,

I am sorry if my use of the word 'shame' led you to believe I meant you should be 'ashamed' ... I assure you that is not the case. I appreciate English is not everyone's first (or even second!) language, so let's file that one under 'lost in translation' !

your PM was a bit harsh, but then perhaps it is due to the misunderstanding. And I'm sorry if you feel I should have contributed on my first post rather than complain.

Thanks anbu and golfer for your feedback and clarification. I accept the chatting is a valuable tool, in fact I was not disputing it at all.

Happy trading!

spitfire412: Sorry for the misunderstanding, english is a foreign language for me too. Let's not forget the meaning of this forum.

A GREAT GREAT GREAT GREAT LESSON FROM LOSTFX ON SKYPE CHAT ON 13TH OF JULY. Lots of wise things about price, personality, ways of trading, strategies, methods, indicators and human behaviours.

Thank you LostFX.

Quote from Skype .. I hope LostFX won't be angry:

"lostfx says:
the point is to learn how the market behaves and how would you react to it..... either if you do it live or demo it is still training and gaining experience, one they I will become full time trader. but right now it is good for me as it is.....

ryurina says:
you already understand enough the price and know the market, don't you?

lostfx says:
there are still many things to learn

ryurina says:
Is that mean we can not make a living by trading?

lostfx says:
and with my very conservative risk and money management strategy I'm using ....I'm still collecting capital...You can, but you need lot's of money. Read I think it is Dialist or Fiji's money management in his forum... it is the best piece of info that I ever found regarding the trading as such

ryurina says:
ok, i'll read it. Thanks... Many people open mini account, what do you think about that?

lostfx says:
People start trading because they see it as a holy grail and are constantly searching for the best system.... but they omit one very basic thing that should be the number one to read and understand: Risk / money management. start with microlots. do not risk more than 3%. keep low leverage. give me a sec and I will find a link to that post.

here it is: http://www.forexfactory.com/showthread.php?t=3690

Read it and make sure that you fully understand the concept
Then you will realize that many pros are asking a question How much can I loose? instead of amateur is asking How much can I make?
Pros are trading to offset the risk of currency fluctuations to protect their investments, to make money is a side product of this
It is one of the best info I ever found... it is very well written


[13.07.2007 20:57:36] lostfx says: Also look at the James16 price action... it will tell you a lot about price itself.... Every single indicator is derived from price action..... If you do not understand the price those indicators are completely useless to you....
[13.07.2007 20:58:25] lostfx says: and remember with every system or method we trade based on PROBABILITIES.....
[13.07.2007 20:58:54] lostfx says: we trade is based on probabilities.....
[13.07.2007 21:01:25] ryurina says: This is very useful and important thing for us, i'm very thank you for all this


[13.07.2007 21:03:32] lostfx says: but I'm not posting there too much, just reading .... there is so many people that they ask everything anyway....

[13.07.2007 21:03:47] ryurina says: it seems there are so many things that i must learn

[13.07.2007 21:04:20] lostfx says: I'm learning my whole life
[13.07.2007 21:05:11] lostfx says: with that risk /money management and overall forez learning reminds me the similarity I experienced lately in the photography field
[13.07.2007 21:05:36] ryurina says: that's surprise me

[13.07.2007 21:06:09] lostfx says: my wife was taking some photographic courses. Everybody was signed up for Photographic Techniques classes but nobody for How to build a photographic business and how to have a succesfull portfolio. But everyone wants to make money....
[13.07.2007 21:06:28] lostfx says: I just don't get it....
[13.07.2007 21:06:54] lostfx says: If you decide to enter any market.... study the market first.... not the tools....
[13.07.2007 21:07:31] ryurina says: i thought with the tools, we study the market
[13.07.2007 21:07:56] lostfx says: Since I have MBA, for me to help her with business side wasn't an issue but I was very surprised about the other students....
[13.07.2007 21:08:21] lostfx says: That's wrong prospective..... As a new trader you are already biased not knowing why....
[13.07.2007 21:08:56] ryurina says: How we study the market then?
[13.07.2007 21:09:55] lostfx says: Learn how the economy works... how the market works.... etc... then apply tools to give you early warning signal.....then knowing your risk enter the market
".

I read the whole conversation on 13th of july as I would have read the forum.

hi, my skype id is wachzer and i would be glad to join the chat room, thank you very much,anticipating to learn forex

http://www.forexfactory.com/images/buttons/quote.gif

Tim

I cannot add you to the chat due to your privacy setting. Please change it and we'll try again.

Hi, I would love to be added to your Skype chat. My id is pip_rapist. Looking forward to talking to you all. Thanks.

Hi everyone!

Would like to be added to the 5min chat.

Skype name: viking19753575

Thank you very much!!

0921 GMT. Been pretty tight ranged. Maybe we can get a decent retracement from this move and a trend going.

1044 GMT. A big candle followed by sideways 'flat' pattern. Maybe this will provide a good entry.

pro: G$ going slighty up, USD CHF around 1.2OOO and waveing a little down
cons: a narrow space between 10-21; supp on 21; the SMAangle a little above -0.1.

My opinion: just look.