5Min Intraday System | Page 100 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex intraday using the 5min chart: EURUSD 108 replies

The Force 5min system 3,806 replies

Intraday Pound Trades on 5min chart [GBPUSD] 36 replies

5min Bollinger breakout system 42 replies

Attachments: 5Min Intraday System
Exit Attachments

5Min Intraday System

  • #1,981
  • Aug 22, 2007 2:51pm Aug 22, 2007 2:51pm
Quoting bshadroo
hi friends
take a look at my trade today(entery at arrow)
plz dont hesitate your commands about my trades and help me become better
thx

hi golfer
yes , i mean if you have sell ,close it and open a buy ,thats what i ment "reverse" , i'll post u additional charts about that idea
Hi Bs

Right, then I do understand you correctly. It might work (and probable for you) but I do see it as high risk trades and I love to trade high probability trades.

Over the past 4 years (two mini accounts down the line) I've learned my lessions and this is now longest I've been able to keep a live account "alive".

The reason - stucking to My Rules, proper money/risk management, patience and no emosional-driven trades. This is now really working for me.

That is why I want to thank Phillip again for all his patience and valuable advice.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,982
  • Aug 22, 2007 3:02pm Aug 22, 2007 3:02pm
Quoting dkfx
Just a quick idea. What do you think about using fibs as a target for a pullback?

It worked. So, the idea is to use fibs retrace levels, "sitting" within war zone, as an entry price for limit orders. I think this the way to reduce psychological pressure while entering the market ( limit orders instead of "on market")
Yes, agree. I know many people do use Fib levels for trading and it works. If it is working for you, go for it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,983
  • Aug 22, 2007 4:16pm Aug 22, 2007 4:16pm
Okay I am playing with stops and it seems I want to use a 12-15 point on the USDJPY due to it moving so much, this is with the 2 or so spread. I also look for 20-50 per move. Anyone have any tips on when they get out of a trade? Also look at the MA on the SMA on the lower of the chart. I have seen then when the bar pulls inside of the MA the trades work out pretty well, wait for that U bottom or top.
Attached Image (click to enlarge)
Click to Enlarge Name: us.jpg Size: 62 KB
Keep taking CT trades, I need more money
  • #1,984
  • Aug 22, 2007 10:13pm Aug 22, 2007 10:13pm
Quoting Ryanmcd
Okay I am playing with stops and it seems I want to use a 12-15 point on the USDJPY due to it moving so much, this is with the 2 or so spread. I also look for 20-50 per move. Anyone have any tips on when they get out of a trade? Also look at the MA on the SMA on the lower of the chart. I have seen then when the bar pulls inside of the MA the trades work out pretty well, wait for that U bottom or top.
Hi Ryan

I am using My Rules posted on page 103 to guide me through the trades and it is working very well for me.

In addition to that, I am looking for certain price patterns to appear making what I think high probability trades. Just go back a few pages and you'll get an idea of the price patterns.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,985
  • Aug 23, 2007 1:01am Aug 23, 2007 1:01am

Hi all,
I would introduce my strategy for testing.The basic thing to do is to watch USD/JPy,if yen is in 5 pips lower than previous closing price,than short GBP/JPY,you will target 50 pips.

Hope you all comment on this,preferrably with your best strategies about GBP/JPY,GBP/USD.

Thanks

  • #1,986
  • Aug 23, 2007 6:14am Aug 23, 2007 6:14am
Quoting ele

Hi all,



I would introduce my strategy for testing.The basic thing to do is to watch USD/JPy,if yen is in 5 pips lower than previous closing price,than short GBP/JPY,you will target 50 pips.


Hope you all comment on this,preferrably with your best strategies about GBP/JPY,GBP/USD.



Thanks

Hi Ele

Sorry but I am lost here and I cannot see how your system fits into the 5min Phillip's system. How would you link your system with Phillip's 5min system? More detail is needed about the correlation/supplement of Phillip's 5min system e.g. do you mean the close of the candle within the war-zone and then 5pips? Any backtesting from your side, any results?
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,987
  • Aug 23, 2007 7:44am Aug 23, 2007 7:44am
Quoting ele

Hi all,

I would introduce my strategy for testing.The basic thing to do is to watch USD/JPy,if yen is in 5 pips lower than previous closing price,than short GBP/JPY,you will target 50 pips.


Hope you all comment on this,preferrably with your best strategies about GBP/JPY,GBP/USD.



Thanks

This is the thread for the 5min Intraday system. If you have a new strategy or method for the FORUM, then please post it in the "Trading Systems" section.

Cheers.
  • #1,988
  • Aug 23, 2007 10:50am Aug 23, 2007 10:50am
Quoting Golfer
Just my 2 cents - I've used a few pivot indicators now and I do like this one the most. It is very reliable and works well. Like Eyevoltage is saying, it change automatically at 00:00. Just look at Eyevoltage and my charts for examples.

Just take note - there will be a few pips difference because of the various price feed of brokers as well as close, H, L, and open price.
thx for your guide.i'll use it
  • #1,989
  • Aug 23, 2007 12:06pm Aug 23, 2007 12:06pm
Just to show you two of the price patterns I am looking for in one setup. This time I missed it because I was traveling from home to my work.

1. Nice support found on the rectangle and see the black line pressing the price/candles downwards forming the triangle.

2. Next is the smooth (relative in this case) round pullback all around an ellilipse (A). Enter on the opening of the either candles underneath the two arrows.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070822 $y triangle.jpg Size: 81 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,990
  • Aug 23, 2007 12:10pm Aug 23, 2007 12:10pm
I just backtested this 5 min strategy for GBP/JPY,finding more useful than others?
Anybody get the same feeling with me?
greetings
  • #1,991
  • Aug 23, 2007 12:13pm Aug 23, 2007 12:13pm
Just to show you what setups to ignore - this is a high risk trade. It could have broken the R1 line but.....

Look at the triplle top formed (A,B,C) right on my daily pivot R1 line. You can see a possible triangle being formed but it is too close to the resistance line with big candles.

Don't even consider trading any candle near "1" (which by the way could look inviting for a long trade). I didn't even put my small support line on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070822 eur tripple top.jpg Size: 79 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,992
  • Aug 23, 2007 12:22pm Aug 23, 2007 12:22pm
And would you believe it - all three my favourite price patterns in evening.

No 3:
And there they are again on Cable - the 3 little sisters. And so reliable as always. Can you see that the first possible 3 sisters was cancelled (the top between "1" and "2") because the price went pass that top and sister 2 was formed on the next top. So don't enter around "2" - wait for the third sister to show up.

Enter on the opening on candle underneath arrow. Can you see that some of My Rules as violated? But trade this one of the 50MA, just below R2 which hopefully will now be a resistance level.

O, this one was a beauty. Hope some of got it. I went to shop with my wife and missed it. How I love my wife!!!!!

This was a great example to alert people on the 5min Skype chat that something is coming up. I'll try my best next time.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070823 cable 3 sisters.jpg Size: 81 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,993
  • Aug 23, 2007 12:27pm Aug 23, 2007 12:27pm
Quoting ele
I just backtested this 5 min strategy for GBP/JPY,finding more useful than others?
Anybody get the same feeling with me?
greetings
Hi Ele

I've look at it but too volatile for me - SL should be too far away but then more pips for profit. I'll stay with my favourite 4 pairs - thanks
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,994
  • Aug 23, 2007 12:38pm Aug 23, 2007 12:38pm
Hi Golfer!
Among your 4 favourite pairs which one is most favourite?

Thanks!
  • #1,995
  • Aug 23, 2007 2:56pm Aug 23, 2007 2:56pm
Quoting dkfx
Hi Golfer!
Among your 4 favourite pairs which one is most favourite?

Thanks!
Hi Dk

Not an easy question but lets say:

$Y is No 4 on my list but it gives me an indication/conformation for the other three pairs.

EURJPY is very nice to trade when it is trending (from the 10MA) but difficult to trade when in range with lots of whipsaw. I tend to ignore it then - setu must be "perfect".

Cable after news releases because it gives you more pips - more volatile.

EUR$ during quiter markets - not so many whipsaw and easy to get out BE.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #1,996
  • Aug 23, 2007 3:37pm Aug 23, 2007 3:37pm
Thanks, Golfer!

I find cable to be more "constructive" especially in the beginning of London session. It really feels like brits are comming to their workplace and decide - let's trade. So they break asian session borders then hold for a while on yesterday's min or max then break it. Then they test broken R/S from another side and that's the signal. Up to now the morning scenario is the most predictable for me. In the flow of the day everything becomes more complicated. However described morning push is most profitable - up to 50 pips easily or even more.
Euro feels somehow slowmover - just my observation.
Another thing, I like to watch G/J while getting ready for G/U trade. If 21EMA holds G/J then it is very likely to trade G/U into the same direction even if G/U is piercing 21 or 50 MA.
  • #1,997
  • Aug 23, 2007 3:45pm Aug 23, 2007 3:45pm
Quoting Golfer
Just to show you two of the price patterns I am looking for in one setup. This time I missed it because I was traveling from home to my work.

1. Nice support found on the rectangle and see the black line pressing the price/candles downwards forming the triangle.

2. Next is the smooth (relative in this case) round pullback all around an ellilipse (A). Enter on the opening of the either candles underneath the two arrows.

lol, I got short at 16:45 time price was 116.27 and took 30 on that one. I will read that page tonight but you are right about the setups, I dont like the huge bars and like the nice small trending ones.
Keep taking CT trades, I need more money
  • #1,998
  • Aug 23, 2007 3:48pm Aug 23, 2007 3:48pm
hi
i dont know is it as important as to speek about but there is a GMT shift availability in multiplepivotsv2 indicator's edit list,is it neccesary to change it?
thx
  • #1,999
  • Aug 23, 2007 4:47pm Aug 23, 2007 4:47pm
Quoting Golfer
Hi Dk

Not an easy question but lets say:

$Y is No 4 on my list but it gives me an indication/conformation for the other three pairs.

EURJPY is very nice to trade when it is trending (from the 10MA) but difficult to trade when in range with lots of whipsaw. I tend to ignore it then - setu must be "perfect".

Cable after news releases because it gives you more pips - more volatile.

EUR$ during quiter markets - not so many whipsaw and easy to get out BE.
hi
i think it will be a very good trade on eur/jpy if:
eur/$ in a up/down trend and $/jpy is also in the same trend
thx
  • #2,000
  • Aug 23, 2007 10:03pm Aug 23, 2007 10:03pm
Golfer, just read your PDF, good stuff man. You know it just have to do it now
If you’re not making money you’re beating yourself up or getting emotional.
Keep taking CT trades, I need more money
2 traders viewing now