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5Min Intraday System

  • #1,841
  • Aug 1, 2007 1:08am Aug 1, 2007 1:08am
My outcome for July 2007 using the 5min system with a demo account. I was trading very selectively and I am trying now to concentrate on price motions. To combine it with the signals.
Attached File(s)
File Type: zip Outcome 2007 07 5min system no time.zip   6 KB | 629 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,842
  • Aug 1, 2007 5:04am Aug 1, 2007 5:04am
I tried this trading system

It is rational and working well, but you need some more considerations to avoid losses
  • #1,843
  • Aug 1, 2007 6:40am Aug 1, 2007 6:40am
Quoting etrade
I tried this trading system

It is rational and working well, but you need some more considerations to avoid losses
Yes I agree and that was why I've developed My Rules (posted). Some of the considerations should be in your rules. Develop your own style of trading based on the principles provided by Phillip.

One important consideration is the price motion/movement at that stage. That is why you cannot follow all the pairs, then go and look for setups. It doesn't work that way and you'll get burned. Just select your favourite pair/s and follow it/them.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,844
  • Aug 1, 2007 6:51am Aug 1, 2007 6:51am
Quoting etrade
I tried this trading system

It is rational and working well, but you need some more considerations to avoid losses
It would be of great help if you cared to qualify that statement somewhat, old chap.

In other words.....tell us more!!

Cheers
  • #1,845
  • Aug 1, 2007 11:10am Aug 1, 2007 11:10am
My trade on the EURU$ today. I liked the support found on the daily pivot line. It was difficult to draw a small R line. I entered where you see the green line (chart 1).

I took profit (half my lots) after 10pips and move my SL to where you see the orange line (1.3700). It was trigger after the price bounched off the R1 line (chart 2).

Outcome was 6pips profit.

Seems like the daily R1 line was a strong resistance line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 200700801 5min trade1 1st half.jpg Size: 78 KB
Click to Enlarge Name: 200700801 5min trade1 2nd half.jpg Size: 79 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,846
  • Aug 2, 2007 8:31am Aug 2, 2007 8:31am
Hi,

Why my SMA inside the indicator window is flat most of the time and never go negative.

can some help me please please???

BTW, possible to sent me a tpl file for the setup, so that I may compare and see what went wrong?

Thanks in advance.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: Chart.jpg Size: 50 KB
  • #1,847
  • Aug 2, 2007 8:58am Aug 2, 2007 8:58am
hi all
i think skype chat for m5 is not active any more.if its active or another room is avctive now,whould u please add me again?
thx all
  • #1,848
  • Aug 2, 2007 9:51am Aug 2, 2007 9:51am
Hi,

I just got my problem solved, I found out that if I used the MAangle file on page 3 and the SMA_Angle on page 15, the 21 SMA become very "funny looking". The SMA just cannot go negative and are flat most of the time.

Until I got the SMAAngle file at page 21 then I got everything in place. I think there are too many version and update here but placed everywhere in this thread. May I suggested someone placed all the latest update on the first thread. I come accross thread like Dolly, TSR and etc they are quite well organise.

I would like to thanks Golfer for his contribution on the summary he posted, it is very well explained and informative.

Thanks a lot.

Regards
  • #1,849
  • Aug 2, 2007 10:12am Aug 2, 2007 10:12am
Just the two trades of mine today both on my mobile phone without the SMAangle and pivots levels.

The EURJPY was a typical 2 candle bounch-of-the-21MA. It was however not a great setup and the move was only 7pips - the reasons for the BE trade.

Cable was a trade on the first pullback - something I don't usually do. I just liked the look (smooth round pullback with resistance found on 21MA) of the setup and I entered on the 10MA. Note that the candles stayed below my small R line. That was a very quick move (almost too quick for me) and you had to have quick fingers to enter and exit. Ignore the green sell line - testing another system. Luckily 10pips profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 200700802 ey 5min trade 1.jpg Size: 80 KB
Click to Enlarge Name: 200700802 cable 5min trade 1.jpg Size: 79 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,850
  • Aug 2, 2007 10:18am Aug 2, 2007 10:18am
Quoting yyc196
Hi,

I just got my problem solved, I found out that if I used the MAangle file on page 3 and the SMA_Angle on page 15, the 21 SMA become very "funny looking". The SMA just cannot go negative and are flat most of the time.

Until I got the SMAAngle file at page 21 then I got everything in place. I think there are too many version and update here but placed everywhere in this thread. May I suggested someone placed all the latest update on the first thread. I come accross thread like Dolly, TSR and etc they are quite well organise.

I would like to thanks Golfer for his contribution on the summary he posted, it is very well explained and informative.

Thanks a lot.

Regards
Hi YY

My pleasure - do it for yourself and make sure you keep withing that set of rules. You won't be disappointed and also you'll be surprised how many times you'll need to look at the pages with the rules.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,851
  • Aug 3, 2007 2:36pm Aug 3, 2007 2:36pm
I decided to give the NFP another try using the 1min chart for entry. I entered @ 1.3707 at 12:45GMT with pullback into the war zone from the bottom (not the usual entry method but I saw that once from Phillip). Close half of my trade after 10pips profit and move my SL to BE (1.3705). Then I activated a trailing SL of 15pips and initially I made sure it stayed just inside the war zone. Later I just let it run. 100pips later it was triggered. Nett of 105pips.

Too bad it was my demo account because I don't feel comfortable with the 1min chart and the news yet.

On the Cable I just managed to get a nett of about 15pips - the 15pips trailing SL was triggered too early. 15pips is too close for Cable.

Then another 40pips (2 trades) with HelloDollie's system later the afternoon/evening.

What an evening!!!!!!!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20070803 5min trade 1min entry.jpg Size: 70 KB
Click to Enlarge Name: 20070803 5min trade big picture.jpg Size: 84 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,852
  • Aug 3, 2007 7:04pm Aug 3, 2007 7:04pm
Nice trades Willem!
  • #1,853
  • Aug 4, 2007 12:32am Aug 4, 2007 12:32am
Quoting alexfot
Nice trades Willem!
Hi Alexfot

Thanks, and I hope hope you are doing well with the 4hMACD system. I am currently trying to trade in line with the rules of the 4hMACD but not taking the actual trade signal as it appears on the 4h charts (just too difficult for me to be at my computer at certain times).

For example - If the 4h chart rule says the price should move back to the 21MA I am looking at my 5min system chart and my 30min chart Dollie chart and look for a trade setup in that direction. Then I tend to ignore the counter trend trade setups (but if I do find a great price pattern, I'll go for it). Just another filter one can use.

Hope it make sense but if it is confusing please ignore it and trade according to your system. I don't want people to get confused.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,854
  • Aug 4, 2007 2:11pm Aug 4, 2007 2:11pm
hi i got a newbie questioni wanna backtest this strategy say gor 1year but my broker charts allow data for 5 mi carts say for 2 days period(is there smth i can do(maybe u suggest dmo another broker) thank you
  • #1,855
  • Aug 4, 2007 9:19pm Aug 4, 2007 9:19pm
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting Golfer
I decided to give the NFP another try using the 1min chart for entry. I entered @ 1.3707 at 12:45GMT with pullback into the war zone from the bottom (not the usual entry method but I saw that once from Phillip). Close half of my trade after 10pips profit and move my SL to BE (1.3705). Then I activated a trailing SL of 15pips and initially I made sure it stayed just inside the war zone. Later I just let it run. 100pips later it was triggered. Nett of 105pips.

Too bad it was my demo account because I don't feel comfortable with the 1min chart and the news yet.

On the Cable I just managed to get a nett of about 15pips - the 15pips trailing SL was triggered too early. 15pips is too close for Cable.

Then another 40pips (2 trades) with HelloDollie's system later the afternoon/evening.

What an evening!!!!!!!!!
Hey Golf, Friday (well actually Friday night/Saturday morning for me!) was also a nice night. I could have shoft myself when I sold USDCHF @ 1.20165 and closed out for 14 points only to see price plummet to 1.19352! That said, I was able to also pick up some points on EURUSD (buying @ 1.37430 and selling @ 1.37725 for a nice 29.5 points).

I am interested to hear more about this 1min technique. I tried trading the 1 min time frame using GMMA earlier this year on demo, but didnt really produce any decent results (in the end broke even). Would like to know how to apply this system effectively onto the 1 min time frame.

-CHECKstar
  • #1,856
  • Aug 4, 2007 9:22pm Aug 4, 2007 9:22pm
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting antony
hi i got a newbie questioni wanna backtest this strategy say gor 1year but my broker charts allow data for 5 mi carts say for 2 days period(is there smth i can do(maybe u suggest dmo another broker) thank you
To be honest Antony, I don't think that you could accurately back test this system and achieve similar results to real trading. This is because, as many of us discovered that it is not wise to take every signal it produces. You really need to be able to observe the price action during any pull back before you enter a trade. So while there is set rules for enter/exit, many of us have discovered that it is quite important to still use digression when trading this system.

-CHECKstar
  • #1,857
  • Aug 4, 2007 9:55pm Aug 4, 2007 9:55pm
Quoting Phillip Nel
I am using this 5Min intraday strategy with great success on the EurUsd and Gpb/Usd. Three deals max. per day. Open position when the angle of the 50 Simple moving average are greater than 20Degrees and the price retrace back into the zone of the 21 Exponential moving average and the 10 Exponential moving average. Set stoploss at 6 pips plus spread and profit taking at 8-10 pips. Move stoploss to breakeven as soon as 6 pips gain is obtained. Using this strategy is at your own risk. Hope someone will benefit from it.
Hi guy's, just joined I am a member of ASF, (Aussie Stock forums)

saw this system in this forum while i was doing some more digging on it.

I have been using this system to day trade stock index futures & CFD's for over 4 months now. good to see others are using it as well. This system works spot on, on about anything that can traded. Not just FX, the actual system was designed for trading the S&P500.

I use it to trade the XJO/SPI stock index on a 2 min chart.

I focus on the lead up to the trade I like to see a clean pattern into the retrace not a wild choppy mess.

the angle of 20 - 30% is very interesting, I was not doing that.

I try to enter on the first retrace as the MA's cross i find they work out the best. I use a 9EMA & a 30WMA

I have attached a chart of last Fridays action the short was a good one they don't all happen like that the green and red arrows are my entries the black circles my exits.

Good Trading,
Attached Image (click to enlarge)
Click to Enlarge Name: Australia 200 Cash 030807 .jpg Size: 57 KB
  • #1,858
  • Aug 5, 2007 3:50am Aug 5, 2007 3:50am
Quoting CHECKstar
Hey Golf, Friday (well actually Friday night/Saturday morning for me!) was also a nice night. I could have shoft myself when I sold USDCHF @ 1.20165 and closed out for 14 points only to see price plummet to 1.19352! That said, I was able to also pick up some points on EURUSD (buying @ 1.37430 and selling @ 1.37725 for a nice 29.5 points).

I am interested to hear more about this 1min technique. I tried trading the 1 min time frame using GMMA earlier this year on demo, but didnt really produce any decent results (in the end broke even). Would like to know how to apply this system effectively onto the 1 min time frame.

-CHECKstar
Hi Check

Yes, I saw your comments on your thread about your trades. I had the very same type of trade on Cable. I've realised (from previous news release experience) that a 15pips trailing SL doesn't really work on Cable. But I was satisfied with 15pips.

The 1min system is the same as the 5min system but you just ignore the SMA window and concentrate only on the war zone. When the market is moving fast and doesn't give a signal on the 5min chart (pullback into the zone), the recommendation is to change to the 1min chart for signals. I've tried it but it doesn't work for me - so I just ignore fast moving markets or I'll try my other two systems.

The other opportunity for the 1min chart is the news release. But please note - it doesn't work on all the releases - only the major news release which can move a price more than 50pips (only a few). The NFP is one of them but I am sure you are also aware that the NFP release gives sometimes a unique pattern (a quick move in one direction (spike) and then move in the opposite direction for the rest of the day. Friday was such a response after the news release.

See My Rules on page 103 for examples of the 1min system. Phillip also posted some examples in the thread)
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,859
  • Edited 5:26am Aug 5, 2007 4:01am | Edited 5:26am
Quoting antony
hi i got a newbie questioni wanna backtest this strategy say gor 1year but my broker charts allow data for 5 mi carts say for 2 days period(is there smth i can do(maybe u suggest dmo another broker) thank you
Hi A

I do agree with CheckStar - I don't really believe in backtesting. I like to call it a "lookback". You can do backtesting just to get an idea/to see if a system is working. This system is already proven to work.

Rather go back and look for chart/price pattern. You will also find enough examples on this thread.

Next thing and I think the best thing to get into the swing of things is demo/paper trade. Do that for a few months and it is better than backtesting. I've done demo trading for a month and then switched to a mini live account - wrong thing to do!!!! I demo traded for another two months to identify specific price patterns and now I am back to a live demo account. Now I just try to take specific signals.

You need to learn the price patterns of your pair/s which you decide to follow.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,860
  • Aug 6, 2007 9:47am Aug 6, 2007 9:47am
Quoting CHECKstar
Hey Golf, Friday (well actually Friday night/Saturday morning for me!) was also a nice night. I could have shoft myself when I sold USDCHF @ 1.20165 and closed out for 14 points only to see price plummet to 1.19352! That said, I was able to also pick up some points on EURUSD (buying @ 1.37430 and selling @ 1.37725 for a nice 29.5 points).

I am interested to hear more about this 1min technique. I tried trading the 1 min time frame using GMMA earlier this year on demo, but didnt really produce any decent results (in the end broke even). Would like to know how to apply this system effectively onto the 1 min time frame.

-CHECKstar
Hi Check

Today was an excellent example of how to use the 1min chart if you do have a fast moving market.

Look at cable's 5min chart today and you'll see no signal after the 21MA crossed the -0.1 line. Remember, first you need to wait for the 21MA to come out of the non-trade zone. After a few candles it is evident that this is a fast moving market - not even near the 10MA and just going down.

Now change to the 1min chart and wait for a signal on the 1min chart. The 21MA has already moved out of the non-trade zone on the 5min chart. Therefore you can ignore the SMAangle window if you've changed to the 1min chart. (Don't change to the 1min chart before the 21MA has crossed the 0.1 or -0.1 line).

I am sure you can see some setups on the attached 1min chart. This is how you trade the 1min chart in fast moving market. I didn't have good results using this methods but I think it was because one tends to enter too early or late in the move.

I hope it make sense.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 200700806 cable 5min setup.jpg Size: 78 KB
Click to Enlarge Name: 200700806 cable 5min 1min setup.jpg Size: 73 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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