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5Min Intraday System

  • #1,821
  • Jul 29, 2007 2:54pm Jul 29, 2007 2:54pm
Quoting bshadroo
hi eyevoltage
u may somtimes should ignore the m5 rules and look at the bigger pictures
.....but I can't make much sense of your chart because it hasn't come out very well. Do you have Bollinger Bands in there? And why the Daily chart? A bit of a difference from a 5 minute one! I'm not criticising or anything, but I can't see how looking at a Daily chart is going to influence your decisions on a 5 minute one.

Still, each to his own.

Cheers
  • #1,822
  • Jul 29, 2007 9:09pm Jul 29, 2007 9:09pm
Does anyone here use zigzag indicator in this strategy? its been very helpful to me figure out where the market is heading to, while im not getting signals from 5min Strategy... (so far no false signals).
Also its helping me to gain few extra pips besides the ones mentioned in this strategy
  • #1,823
  • Jul 30, 2007 2:37am Jul 30, 2007 2:37am
great strategy
very easy!
Can you use it on other pairs rather than eurusd , gbpusd?
Money for nothin' and pips for free!
  • #1,824
  • Edited 7:28am Jul 30, 2007 5:33am | Edited 7:28am
Quoting ltklev
great strategy
very easy!
Can you use it on other pairs rather than eurusd , gbpusd?
Hi It

So glad you do find "very easy" - I would like to call it "very simple". And that it the beauty of this system. Just be careful because in the begining it is very "easy" to trade untill you get gready. All I can say is learn the price movements/motions of your pairs and don't try and take every trade setup/signal that you see.

I only follow 4 pairs with great success if I follow My Rules (page 103 of the thread). EUR$, Cable, $JPY and EURJPY.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,825
  • Jul 30, 2007 9:19am Jul 30, 2007 9:19am
Quoting eyevoltage
.....but I can't make much sense of your chart because it hasn't come out very well. Do you have Bollinger Bands in there? And why the Daily chart? A bit of a difference from a 5 minute one! I'm not criticising or anything, but I can't see how looking at a Daily chart is going to influence your decisions on a 5 minute one.

Still, each to his own.

Cheers
well,may be i should sent this picture,look at the breaking of 1.3690 and the trend line(the arow) .
i mean in this sittuation if ema21 is even not under -0.1 u can sell because of very good conditions in bigger time frames and in contrary, if u see a good formation in m5 ,first u should look at the bigger pictures for possible strong support or res. around there and then decide.
good luck
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 41 KB
  • #1,826
  • Jul 30, 2007 10:14am Jul 30, 2007 10:14am
Just an interesting cable setup today:

Setup I had one or two tradable setups but look at next setup. That is the kind of pullback I am looking for. Unfortunately the 21MA was still in the non-trade zone but this is just another example of smooth rounding around ellipse A. Only setups after line C should be considered.

Just look at the big candles "A" - be careful if this was a real setup. For a real setup - I would have entered on the green doji on the 10MA.

There is also a not so well-defined 3 little sisters formation - that was what caught my eye in the setup. The third sister is just after Line C and I was trying to enter on that sister. I almost did and then it broke my small R line and the 21MA - deal is off.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070730 5min cable setup.jpg Size: 85 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,827
  • Jul 30, 2007 10:18am Jul 30, 2007 10:18am
I had one trade on U$JPY today - and missed the second one because I've tried to close half of my position after 8 pips and let the rest run. Outcome was nett of 9pips profit. I moved my SL to close the price and it was triggered before the price moved upwards. One could have entered on the second setup from the 10MA
Attached Image (click to enlarge)
Click to Enlarge Name: 20070730 5 min trade1.jpg Size: 77 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,828
  • Jul 30, 2007 4:28pm Jul 30, 2007 4:28pm
Quoting bshadroo
well,may be i should sent this picture,look at the breaking of 1.3690 and the trend line(the arow) .
i mean in this sittuation if ema21 is even not under -0.1 u can sell because of very good conditions in bigger time frames and in contrary, if u see a good formation in m5 ,first u should look at the bigger pictures for possible strong support or res. around there and then decide.
good luck
Yes, thanks for that, my friend. I have to say I was a bit confused at the massive TF difference, but I do see your point now. However, I wouldn't have thought it would have been necessary to go all the way up to the Daily chart. I haven't checked, but I wonder if a quick look at maybe the 1hr chart would have been enough?

Not to worry. Thanks again, mate, and especially for your patience!

Cheers
  • #1,829
  • Jul 30, 2007 8:02pm Jul 30, 2007 8:02pm
Quoting emacro
Hi all
I am back from a few days away in tropical island paradise.... Guess where?
My guess is White Beach on Jost Van Dyke, BVI. (St. John's in the background?)...Now BACK TO WORK!

Lots of pips to be made with this system. Had a classic 5 min trade with the EurUsd today about 2 hrs into the London session. It was a perfect cherry on top of Phillip's 4hr pullback on a Fib retracement (25 pips 4hr/10 pips 5min)

Thanks Philip!
  • #1,830
  • Jul 31, 2007 1:52pm Jul 31, 2007 1:52pm
Guys,

thank you for the great system, yesterday was my first try using EUR/JPY... still Demo but good to learn before startuing live account.

keepup the great work
Attached Image (click to enlarge)
Click to Enlarge Name: eur-jpy.jpg Size: 34 KB
"Not all leaders were born equal...A few were born to WIN"
  • #1,831
  • Jul 31, 2007 1:54pm Jul 31, 2007 1:54pm
Guys,

thank you for the great system, yesterday was my first try using EUR/JPY... still Demo but good to learn before startuing live account.

keepup the great work
Attached Image (click to enlarge)
Click to Enlarge Name: eur-jpy.jpg Size: 34 KB
"Not all leaders were born equal...A few were born to WIN"
  • #1,832
  • Jul 31, 2007 2:50pm Jul 31, 2007 2:50pm
a new trade has been taken right now... thanks for the great system... but I'm still learning...
closed the position with 30 pips profit, well with these Demo pips I'm going to have my Demo beer..
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.jpg Size: 43 KB
"Not all leaders were born equal...A few were born to WIN"
  • #1,833
  • Jul 31, 2007 3:08pm Jul 31, 2007 3:08pm
I found another book on the net ...
Buy the rumour, sell the fact

At the same address search daily for more interesting ebooks ... Yupii
Remember this one too: Stevie Nison - Japanese Candlestick Charting Techniques -it is the same as in previous posts ..

P. s. Get them quickly because they "dissapear" quickly ...
  • #1,834
  • Jul 31, 2007 3:13pm Jul 31, 2007 3:13pm
Another classic smooth rounding setup with resistance found on the 10MA. Just below a daily pivot line - perfect situation.

I would have entered on candle 1 (once you realised that 10MA is resistance and the price won't go back to the 21MA) and wow - a 60pips drop.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070731 5min ey setup.jpg Size: 77 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,835
  • Jul 31, 2007 3:49pm Jul 31, 2007 3:49pm
Quoting SOLO
Guys,

thank you for the great system, yesterday was my first try using EUR/JPY... still Demo but good to learn before startuing live account.

keepup the great work

Hi SOLO

Great trade and setup. Just make sure you do have your rules at hand and that you do follow it. Don't get gready and try to enter each and every setup. Make sure you can write a "story" about every setup.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,836
  • Jul 31, 2007 4:15pm Jul 31, 2007 4:15pm
Thanks Golfer for the Advice,

I really appreciate your effort guys, however from where can i download the ADX indicator?

thanks for the support
"Not all leaders were born equal...A few were born to WIN"
  • #1,837
  • Jul 31, 2007 5:45pm Jul 31, 2007 5:45pm
Quoting SOLO
a new trade has been taken right now... thanks for the great system... but I'm still learning...
closed the position with 30 pips profit, well with these Demo pips I'm going to have my Demo beer..
عزيزى SOLO
I WANT TO KONW WAHT IS THE INDICATORS THAT YOU USE BESIDE THE BASIC INDICATORS IN THIS SYSTEM

شكرا يا باشا
AMGD
  • #1,838
  • Jul 31, 2007 6:13pm Jul 31, 2007 6:13pm
Quoting AMGODI
عزيزى SOLO
I WANT TO KONW WAHT IS THE INDICATORS THAT YOU USE BESIDE THE BASIC INDICATORS IN THIS SYSTEM

شكرا يا باشا
AMGD
Dear ANGD,

I'm trying to follow the 5min strategy and do not change any of its rules, However I've added the Bulls and Bears power.
"Not all leaders were born equal...A few were born to WIN"
  • #1,839
  • Jul 31, 2007 7:40pm Jul 31, 2007 7:40pm
Quoting SOLO
Dear ANGD,

I'm trying to follow the 5min strategy and do not change any of its rules, However I've added the Bulls and Bears power.
dear solo
thank you very very much
  • #1,840
  • Jul 31, 2007 10:17pm Jul 31, 2007 10:17pm
Quoting SOLO
Thanks Golfer for the Advice,

I really appreciate your effort guys, however from where can i download the ADX indicator?

thanks for the support
My Rules on page 103 explains it but you need to get the ADX from the navigator window, in the indicator folder.
Willem Forex recipe for success = Patience, discipline & hard work.
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