5Min Intraday System | Page 110 | 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

  • #2,181
  • Sep 21, 2007 9:06am Sep 21, 2007 9:06am
Just a quick note.. It seems to me that everyday around 12pm EST the market falters and runs out of steam, sometimes it actually reverses direction. Almost every trade setup I've seen in the last few weeks ends up being a failure if it is around this time.
I think it would almost be possible to reverse the current trend at 11:45 am EST everyday and make 10 pips or so.

Anyway, just be aware of that.
  • #2,182
  • Sep 21, 2007 9:50am Sep 21, 2007 9:50am
Here is an ideal trade... Still in process but looks good.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 16 KB
  • #2,183
  • Edited 2:20pm Sep 21, 2007 2:19pm | Edited 2:20pm
Quoting gunset
Just got my 6 pips on the cable!!
dear friends, Is my resistant line correct? I read, re-read and re-read again and still Ihaven't had a clear picture about the resistant line... I'm sorry for my stupidity... My trade was below the TL but the price keep forcing to go to the right direction. So I close my eyes n got the 6 pips.. comments please...
Very good trade. Taking six pips was not bad at all, in fact when market is so choppy and volatile, thats pretty much what you should go for safely, otherwise you will risk stopping out. I took the exact same trade for 7 pips. If u notice, the rounding bottom was the clue. It took a while for the price to reverse.

This system will be profitable in the long term for sure. Since this a trend following system,choppy market is the killer at times. A comprehensive back test gave me 75% win ratio.

If market is too choppy, stay out untill we get a clear picture and a real break out. After a real break out, market will trend in one direction for a substantial move. That's when we look for the pull backs.
  • #2,184
  • Sep 21, 2007 2:49pm Sep 21, 2007 2:49pm
Quoting FiboFan
Just a quick note.. It seems to me that everyday around 12pm EST the market falters and runs out of steam, sometimes it actually reverses direction. Almost every trade setup I've seen in the last few weeks ends up being a failure if it is around this time.
I think it would almost be possible to reverse the current trend at 11:45 am EST everyday and make 10 pips or so.

Anyway, just be aware of that.
Yes, I do find the same around the opening of NY session - sometimes a dramatical change in direction. That is when I change to a 15min divergence system untill market is giving us a direction again. I only trade untill about 19-20H00 GMT.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,185
  • Sep 22, 2007 5:38am Sep 22, 2007 5:38am
thanks for all the comments. they all are very constructive. I'll keep posting my chart and "the story" behind it. hope this can improve our skill.

btw mr. Golfer, I think we have the same chart on EJ, but why did the Support line are difference? can you please explain where did the mistake?
  • #2,186
  • Sep 22, 2007 7:41am Sep 22, 2007 7:41am
Quoting Golfer
Just an example - the arrows are where I would have entered (I did have a BE trade on the first arrow). The red vertical line is where the 21MA is coming out of the non-trade zone.

Just look at after candle 5 - a close above resistance line and there she goes.

Very interesting.
hi willem
i entered the trade 2candles before candle"3" on 10ema putting my sl above the trend line but the bad close in candle 3 above 21 ema made me lose my short on BE and then .... wow ... 20pips in one candle and i missed that
but i have had another trade,a long trade after strong breaking up the trand line
  • #2,187
  • Sep 22, 2007 10:06am Sep 22, 2007 10:06am
very sorry for asking this........but is the strategy still the same as at the very start of the thread or has it been improved ?


everyone having positive results with this method ?
  • #2,188
  • Sep 22, 2007 4:43pm Sep 22, 2007 4:43pm
Hi phillip and all

I am very interesting with you strategies mr.phillip and I read the 4 Hour Strategy (300+ Pips per Month) .. can I get a summary of this strategy if its avialable.. Many thanks

Ammar
  • #2,189
  • Sep 23, 2007 10:06am Sep 23, 2007 10:06am
Quoting findcount
very sorry for asking this........but is the strategy still the same as at the very start of the thread or has it been improved ?


everyone having positive results with this method ?
Hi Findcount

A SMAangle indicator for MT4 platforms was developed to replace the subjective 20degree 50MA angle. Otherwise I've developed My Rules on page 103 to suite my style of trading.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,190
  • Sep 23, 2007 12:06pm Sep 23, 2007 12:06pm
Quoting aboammar
Hi phillip and all

I am very interesting with you strategies mr.phillip and I read the 4 Hour Strategy (300+ Pips per Month) .. can I get a summary of this strategy if its avialable.. Many thanks

Ammar
Here is the link to the strategy. There is 13 Lessons on page 289 from post 4335.
http://www.forexfactory.com/showthread.php?t=14630

Phillip
  • #2,191
  • Sep 23, 2007 3:13pm Sep 23, 2007 3:13pm
Quoting findcount
very sorry for asking this........but is the strategy still the same as at the very start of the thread or has it been improved ?


everyone having positive results with this method ?
Hi F

I do put the outcomes of my trades monthly on the thread. It is not a show off but to show people the reality behind this system.

It is a profitable system if one takes the high probability trade setups and keep one's patience. It will all depend on your style of trading and the manner in which you read/hande the market/charts. I was looking for a reliable scalping method and this one is doing it for me.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,192
  • Sep 23, 2007 4:26pm Sep 23, 2007 4:26pm
Quoting Phillip Nel
Here is the link to the strategy. There is 13 Lessons on page 289 from post 4335.
http://www.forexfactory.com/showthread.php?t=14630

Phillip
Dear phillip

Many thanks 2u >> but I didnt mean the 4h as I have all the doc. but I mean this 5 min strategy.

Good luck

Ammar
  • #2,193
  • Sep 23, 2007 7:43pm Sep 23, 2007 7:43pm
hei guys,

Any reason why this strategy doesn't work in other TF ?

I found out that when these three MA meet/cross at one point, it's more likely to be a strong signal (either long or short), is that true? Just my observation...


Thanks =)
  • #2,194
  • Sep 24, 2007 1:51am Sep 24, 2007 1:51am
I've been using this system for about 2-3 week. and It gives me a 100% profit on my demo account, but gives a bad result on my live account. on my demo account I just wait for a signal and then close my eyes and put an entry with SL 15 pips and TP 10pips, it hits the TP most of the time!! and today I make a noew account with $300 fund on demo. with this system and close my eyes and again SL 15pips, TP 10 pips, it already gives me a 3 strike winnings!! meanwhile my real account still zero improvement. I don't know why, but this demo account makes me nuts!!!
  • #2,195
  • Sep 24, 2007 2:39am Sep 24, 2007 2:39am
Quoting aboammar
Dear phillip

Many thanks 2u >> but I didnt mean the 4h as I have all the doc. but I mean this 5 min strategy.

Good luck

Ammar
Hi Ammar

Like I said - page 103 is My Rules for my style of trading if you want to look at it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,196
  • Sep 24, 2007 3:52am Sep 24, 2007 3:52am
Quoting gunset
I've been using this system for about 2-3 week. and It gives me a 100% profit on my demo account, but gives a bad result on my live account. on my demo account I just wait for a signal and then close my eyes and put an entry with SL 15 pips and TP 10pips, it hits the TP most of the time!! and today I make a noew account with $300 fund on demo. with this system and close my eyes and again SL 15pips, TP 10 pips, it already gives me a 3 strike winnings!! meanwhile my real account still zero improvement. I don't know why, but this demo account makes me nuts!!!
Hi G

Maybe you should post your live trades so that we can see what is going on. That is what I am doing - you'll see almost every trade of mine. I am also trying to avoid "over-trading".

It is very difficult to an opinion on the above-mentioned information. Each and every setup is unique.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,197
  • Sep 24, 2007 4:04am Sep 24, 2007 4:04am
Quoting gunset
thanks for all the comments. they all are very constructive. I'll keep posting my chart and "the story" behind it. hope this can improve our skill.

btw mr. Golfer, I think we have the same chart on EJ, but why did the Support line are difference? can you please explain where did the mistake?
Hi G

There are various ways to draw supp/resis lines. What I would like to see is a few points in line. Look the EY this morning. A very nice one to use. 5 point in a row giving you a nice resistance line. Now you wait for the 21MA on the SMAangle to get out of the non-trade zone. I almost took the trade on the 10MA after candle 5 but then I saw the 21MA was still in the non-trade zone and I didn't see any price pattern. It would have given me 10-15pips however.
Attached Image (click to enlarge)
Click to Enlarge Name: small resis supp lines 5.gif Size: 26 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,198
  • Sep 24, 2007 5:51am Sep 24, 2007 5:51am
My chart below is, as you can see, the same one you posted earlier. My question is: Assuming that the 21ema in the SMAAngle window HADN'T been in the no-trade zone, would the fact that it was only the "shadows" (wicks) of the candles that had penetrated the 10ema and found resistance at the 21ema been enough to take the trade? I mean, wouldn't it have been better if some of the real bodies had been in the "war zone"? (Relevent area indicated by the blue rectangle below).

Cheers
Attached Image
  • #2,199
  • Sep 24, 2007 7:05am Sep 24, 2007 7:05am
Quoting eyevoltage
My chart below is, as you can see, the same one you posted earlier. My question is: Assuming that the 21ema in the SMAAngle window HADN'T been in the no-trade zone, would the fact that it was only the "shadows" (wicks) of the candles that had penetrated the 10ema and found resistance at the 21ema been enough to take the trade? I mean, wouldn't it have been better if some of the real bodies had been in the "war zone"? (Relevent area indicated by the blue rectangle below).

Cheers
Yes, this is a difficult one. I don't like to trade the setup where the second candle after te recent low/high pull back into the zone (to me it is a high risk trade and not high probability setup). That is usually when people's SL are triggered just to continue in the correct direction after the trigger. Then people are very upset but it is because they didn't try and read the charts. They just went for the kill (trade).

What I would like to see is a slow flattish pullback of about 3-4 candles into the zone. And yes, preferable a body in then zone. The slow pullback means resistance and a possible triangle being formed. With the slowness of the pullback, it would be possible to exit with only 4-5 pips loss before your SL is triggered. With a steep pullback, it is sometimes to quick and your SL is triggered before you can react.

I was watching the next setup and was prepared to entered. But the close above the 21MA made me cautious and then I had to leave for the airport. However you could have picked 10 quick pips from that trade - which I was prepared to do if I could have stayed with my laptop.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,200
  • Sep 24, 2007 7:12am Sep 24, 2007 7:12am
I would advice all novice traders to read the words below Phillip's name in his messages. It is so true an that is why I don't take each and every setup. Sorry to nag about this, but people should realise that not every setup in this system is profitable.

And I think that is why I am still alive in this game of trading. PATIENCE!
Willem Forex recipe for success = Patience, discipline & hard work.
2 traders viewing now