5Min Intraday System | Page 112 | 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

  • #2,221
  • Sep 26, 2007 1:58pm Sep 26, 2007 1:58pm
Hey guys,

I'm late to the party here, but I like this strategy a lot. Thanks Phil

I have been trading with this strategy with reasonable success on the 1-minute charts using a criteria of 30-40 degrees angle on the 50 SMA. Oftentimes, you still get your 8-10 pips, and your losses aren't so quick to happen.

It's also nice to get in and out in an average of 5 minutes.

Regards,

Kevin
  • #2,222
  • Sep 26, 2007 3:05pm Sep 26, 2007 3:05pm
Hi Gun

Here is my chart of the EY. The arrows showed where I would have entered. Only took one trade as indicated. This is a typical EY chart when it is in a trending move. I'll try and find the other charts from earlier this year (ones I used to discuss with Phillip).

What I was refering to is the resistance area under rectangle A and the price keep pushing the lower ends of the candles upwards. The triangle is being formed between that and My Small support line. I would have loved to see the upmove where line B is.

Also look at the numbers - every time a new high until "6".

But enough from me - lets give someone else a change.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070926 tipcal ey.gif Size: 21 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,223
  • Sep 26, 2007 3:31pm Sep 26, 2007 3:31pm
Just my last inputs:

Look at the differences between the two areas in the ellipse. In ellipse A there are no real pullbacks - just a flat area. Look at the second ellipse where you do have a triplle top meaning the price must turn now.

It is save to trade the first setup but if the price is starting making highs and lows, be careful. Especially after a run like this.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070926 ey.gif Size: 27 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,224
  • Sep 26, 2007 3:34pm Sep 26, 2007 3:34pm
Quoting DaTrader
Hey Golfer, Where did you get that neat indicator in the top left corner of your chart that shows current and previous days range?
Thanks!
DaTrader, the indicator you're curious about in the top left hand corner comes with the MultiplePivot V2. Run this, and all that info appears automatically on the chart where you saw it.

I'm attaching it for you down the bottom, mate.

Cheers
Attached File(s)
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 385 downloads
  • #2,225
  • Sep 26, 2007 4:20pm Sep 26, 2007 4:20pm
anyone getting good results still with this system?.. I ran some tests a while back which started promisingly, but I then realised it was far too pain staking hogging the screen all day.. I kept missing good opportunities

I do like it though...

edit.. I also noticed that the trades which the MA angle line up with the momentum also tend to be when it breaks out of the overnight/asian session range.. tends to give you a higher probability chance of direction
  • #2,226
  • Sep 26, 2007 5:17pm Sep 26, 2007 5:17pm
Hi.. sorry can't post the chart since my internet connection is reallyyyyy slowww. that's why yesterday I only enter on my demo account ( but I had the same chart with Golfer. thanks for the comments. I'm really appreciate it. Is it really only 1 valid trade for the chart? because my PhilNell indicator keep beeping all the time, and I though it's time to make some money.. fool me. Please Mr. Golfer, I do really need a lot of practicing....
  • #2,227
  • Sep 26, 2007 5:30pm Sep 26, 2007 5:30pm
dear Mr. Golfer,
on post #2223. your chart on no. 1,2,3,4 is reaching the same high. is it a dangerous position? is the probability to go down higher than to break the high? I found it very often on EJ but has no clue what to do.. thanks for the comments..
  • #2,228
  • Sep 26, 2007 9:14pm Sep 26, 2007 9:14pm
Quoting eyevoltage
DaTrader, the indicator you're curious about in the top left hand corner comes with the MultiplePivot V2. Run this, and all that info appears automatically on the chart where you saw it.

I'm attaching it for you down the bottom, mate.

Cheers
Hi Eye

Tx a lot.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,229
  • Sep 26, 2007 9:17pm Sep 26, 2007 9:17pm
Quoting gunset
dear Mr. Golfer,
on post #2223. your chart on no. 1,2,3,4 is reaching the same high. is it a dangerous position? is the probability to go down higher than to break the high? I found it very often on EJ but has no clue what to do.. thanks for the comments..
To me it becomes a high risk trade setup if I do see that. If you do see the other pattern (flattish area), it is a high probability setup.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,230
  • Sep 26, 2007 10:01pm Sep 26, 2007 10:01pm
Quoting gunset
Hi.. sorry can't post the chart since my internet connection is reallyyyyy slowww. that's why yesterday I only enter on my demo account ( but I had the same chart with Golfer. thanks for the comments. I'm really appreciate it. Is it really only 1 valid trade for the chart? because my PhilNell indicator keep beeping all the time, and I though it's time to make some money.. fool me. Please Mr. Golfer, I do really need a lot of practicing....
Hi Gun

No, all the arrows would have been my entry points. I only took that one because of my time. I did use the "calling" indicator ijn the beginning to assist me but I don't use no more. One needs to look at the market motion ("story") before entering a trade. Don't rely to heavily on that indicator. Just use it as a wake-up call.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,231
  • Sep 27, 2007 5:19pm Sep 27, 2007 5:19pm
sorry can't post any chart today.. The internet connection like a snail!!! keep re-connecting..
  • #2,232
  • Sep 28, 2007 2:45am Sep 28, 2007 2:45am
Thanks again from me Willem! I love you explanations.

I'll post some charts again, I promise. Ok, I've promised this earlier but had not the time to trade intraday. Luckily Oanda has lowered their spread in EUR/USD to 0.9 pips!

Regards - Xaron
  • #2,233
  • Sep 28, 2007 4:42am Sep 28, 2007 4:42am
this the chart from GU pair. For me the steep is looking good.. not to steep, not too flat and it's above my SL, I like the strong trends showed before the entry. And it needs a pullback before go up again (I guess) so I put my entry and see the result..... enter at 2.0275 and exit at 2.0283, result +8pips.. comments please...
Attached Image (click to enlarge)
Click to Enlarge Name: guph290907.JPG Size: 47 KB
  • #2,234
  • Sep 28, 2007 10:29am Sep 28, 2007 10:29am
another entry... USDJPY entry at 114.99 exit at 114.90, profit +9pips. I'm not really great in writing a story, but I'll try my best... at first I'm really scared to see the steep 2 large green bar!! but after waiting for the second signal, looks like the price movement is going down, I know it isn't possible to see the movement on the chart, but if you see it live you can 'feel' it (even I'm not an expert...). the MACD n the RL is also good and after the third bar, looks like the EMA 21 is becoming the resistant point!! so I take the risk n got the 9 pips.. not bad.. comments please...
Attached Image (click to enlarge)
Click to Enlarge Name: ujph280907.JPG Size: 50 KB
  • #2,235
  • Sep 28, 2007 1:17pm Sep 28, 2007 1:17pm
@gunset: I'd taken this, too. What was your initial stop? In my opinion you should always try to reach at least the pips you've set as stop. So if your stop is 10 pips, your target should be at least 10 pips.

Regards - Xaron
  • #2,236
  • Sep 29, 2007 2:54am Sep 29, 2007 2:54am
I don't put any TP, except when I'm out, I have to put it. But when I'm able to watch it, I'll close the trade when I fell it's enough. when price still go to my direction, that's okey at least it gave me a profit. if the price go against my direction then it's a good decision. he..he.. I was using a TP on earlier time, but sometimes, the price didn't hit the TP, (sometimes the difference is only 1 pip!!) and the go to another way and hit my SL.. so I decide not to use a TP..
  • #2,237
  • Sep 29, 2007 7:14am Sep 29, 2007 7:14am
Hmm, yes I see. Maybe it's worth to look at the 1m chart after the entry to decide when to exit.

Regards - Xaron
  • #2,238
  • Sep 29, 2007 9:45pm Sep 29, 2007 9:45pm
dear Xaron,
thanks for the input, I'll try to see the 1m chart, I'm not very familiar with it, but I'll try, I hope I can learn and adopt it to be a better strategi..

btw. I post a new GU chart on the last session. Is it what Mr. Phillip say about 10 EMA becoming a resistance line and enter the trade with closed eyes?? comments please...
Attached Image (click to enlarge)
Click to Enlarge Name: guph300907.JPG Size: 50 KB
  • #2,239
  • Sep 30, 2007 2:44am Sep 30, 2007 2:44am
Quoting gunset
dear Xaron,
thanks for the input, I'll try to see the 1m chart, I'm not very familiar with it, but I'll try, I hope I can learn and adopt it to be a better strategi..

btw. I post a new GU chart on the last session. Is it what Mr. Phillip say about 10 EMA becoming a resistance line and enter the trade with closed eyes?? comments please...

Yes. When the price finds support like that on the 21EMA you enter eyes closed especially if it makes a little round top/bottom. See picture
Attached Image (click to enlarge)
Click to Enlarge Name: 5 Min Strategy.JPG Size: 83 KB
  • #2,240
  • Sep 30, 2007 3:17am Sep 30, 2007 3:17am
By drawing supp/res (S/R) lines you can see when a run is getting out of steam. It can help you either taking profit at max level or let you get out before the pips get negative or cut the loss to the minimum.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 Min Strategy.JPG Size: 89 KB
18 traders viewing now