5Min Intraday System

thanks for the answer n the chart sir, I'll learn about it more, hope I can contribute something here..

Yes, that is a great example of a smooth round pullback. Well done.

hi this is a sample of high risk entry (well, at least for me) for the UJ at asia market.... It's been a lot of candle after the sign, but It's still in the war zone. so when the price goes up, I take the risk and open an entry at 115.03, but waiting again, no significan price movement.... that scares me a lot, so I take a small pips (better than nothing), I take the 4 pips, but because the price go down so fast, the server catch only 1 pip. that's why I don't like the fix TP because it can't react with the price movement.. at this time the price still stay at the same price.. ( after +- 40 minutes) comments please...

sorry forgot the chart...

luckily I take that 1 pip, since price keep going down and hit my demo's SL!! (-15pips)

I have two questions for you Golfer:
1. Do you actually use adx indications in your trading (according to the rules posted on page 103) ? For instance go short only if red line is above blue line and trend line is above 25?
2. Any changes in your rules since page 103? Sorry but I don't have time to read through all the subsequent pages ;-)
Thanks.

Hi G

That setup was just below my daily pivot line - therefor it was no-go for me. I would like to see a buy setup developed just above a daily pivot line or that there is space to the next pivot line. Sorry but I cannot post charts now.

Hi Eq

1. Not really, it just gives me an indication of the price actions. I do concentrate on the Isma and the overbougth and oversold area on the ADX however.

2. I've just started this weekend updating My Rules - will probably post it this week. There won't be major changes and nothing new in the mean time.

Happy trading.

How do you read OB and OS levels using adx Golfer?

Golfer
5 min Euro futures. Is this a 3 ugly sisters pattern?

Good evening Ladies and Gentlemen! Its been a while since I have sat down and done some trading. I took a look at my trade blotter and my last trade was on the 17 September. Must be busy with work... and after work drinks ! Anyhow today managed to book the below two trades.

The first was USDJPY - I ended up breaking even just as price came a few points off my TP: long @ 115.62, had my TP @ 115.85 or +23 points (keeping to my r:r ratio). Once price made it to the halfway point I moved my stop to break even. Was a bit of a kick in the balls to see price come so close to almost scrape my TP - but alas it wasn't meant to be!

The second was on GBPUSD - I don't see how you can not make money on this pair tonight looking at the chart! Anyhow, went short @ 2.04055 with TP @2.03905. Within about 17 seconds price exploded to the downside and before I knew it my TP was filled (not a second too soon actually because right afterwards came back pretty hard and would have stopped me out at BE).

http://img122.imageshack.us/img122/6912/screenur2.jpg

Hi Eq

Sorry about that but it will be in the next edition of My Rules. In short:

Put a stochastic indicator in the ADX window with levels on 10 and 90. Keep the colours of the stochastics "None" because you don't use the indicator itself. Now watch the Isma indicator for when it crosses either the 10 line from above or the 90 line from below.

Look at the attached chart and the two ellipses - the first one is where Isma is entering the overbought area (don't consider a long trade - risky) and the second one is where it enters the oversold area (don't consider a short trade - risky).

Any short setup between vertical line A and B could be a possibility with the Isma coming out of the overbought area - like setup C which was a nice flat kind of pullback.

Just another filter to keep you out of bad trades. Hope it make sense.

Thanks Golfer!

Here is another example what looks like a nice trade on the EURJPY. Very nice pullback but look at the Isma and the overbought situation.

My results of all my trades for this 5min system for Sept 2007.

Hi all!!


I've been all over the forum this month searching for systems, but this is still one of my favorite systems. Here's a trade today I jagged on the aus/jap for 10pips. If you look closely you can see if I had used phil's money management rules I could have increased my pip gain.


http://i232.photobucket.com/albums/e...djpy10pips.gif

took 1 trade on EJ on London market time... It's a strong downtrend, so when I saw a nice pullback and cross the S1 point I took it, the first pullback was to steep and it's too near with S1, so I ignore it. entry at 163.83 exit at 163.73, profit +10 pips...

Hi letitride,

Do u have your indicators as a MT4 template u can share with me with ADX on? And how do u use the ADX with this system? Thanks in advance.

another entry with UJ pair. Everything looks great for me. the movement is veryyyy smooth. the price is higher than the RL, and for the pullback come, and I make the entry at 115.65 and exit at 115.75 and profit +10pips! comments please....

My 3 trades today:

1st: EUR/USD short. Just a nice one, there was a resistance around the 10EMA, a small triangle. The S1 was near but there was enough room to break even at least. Made 10 pips. Unfortunately I missed the second one, which would had been a very safe one with the S1 and 10EMA as resistance...

http://www.leidel.net/dl/fx/charts-i...usd_021007.png

2nd: GBP/USD long. This was a risky one, as the EUR/USD was strong short. But there was a small support - see my trend line + the 21EMA. I went long and got stopped out at BE. +1 pip.

http://www.leidel.net/dl/fx/charts-i...usd_021007.png

3rd: USD/JPY long. Well... not really a nice chart, but there was some strong support around 115.50 and look at all the long tails down (ok, up too. *g*). There was some motion in the market and finally it went up. Made 12 pips.

http://www.leidel.net/dl/fx/charts-i...jpy_021007.png

Regards - Xaron