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5Min Intraday System

  • #2,641
  • Edited 9:02am Nov 19, 2007 8:06am | Edited 9:02am
these are the trades today and results

1. sell @ 20513 - TP 20495 result +18pips morning bigben strategy (if waited could done better)
2 buy @ 20506 - TP 20525 result + 19pips (if waited could done better)
3 buy @ 20522 result - 15pips (could have avoided this as i bought on a thought)
4 buy @ 20537 was +5 pips and i didnt collect profit, now is down -9 so i guess will be -15 pips

update - just closed trade no4 at +4 pips, at least not a loss




Quoting Golfer
Hi Adrian

Great - just to tell you that I do save a picture of each and every trade of mine, I do print them and I write my notes/comments on them or at the back (just like Phillip). It is a very helpful exercise because you tend to forget all the mistakes you have made. I even make a list of all my mistakes/things I need to look at if I do see another setup like that. That is how I developed My Rules posted on this thread.

Looking forward to see your charts and trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 19-11-1455.gif Size: 79 KB
  • #2,642
  • Nov 19, 2007 10:21am Nov 19, 2007 10:21am
Aftr my chat with Adrian on Skype - two examples of how you should use the non-trade zone and the 21MA. I would not advice any trades to be taken when 21MA is in the non-trade zone or on the wrongs side of it e.g. going short while 21MA is still above the 0.1 line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2007119 eur 1.gif Size: 28 KB
Click to Enlarge Name: 2007119 eur 2.gif Size: 31 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,643
  • Nov 19, 2007 2:02pm Nov 19, 2007 2:02pm
Quoting adrianebn
these are the trades today and results

1. sell @ 20513 - TP 20495 result +18pips morning bigben strategy (if waited could done better)
2 buy @ 20506 - TP 20525 result + 19pips (if waited could done better)
3 buy @ 20522 result - 15pips (could have avoided this as i bought on a thought)
4 buy @ 20537 was +5 pips and i didnt collect profit, now is down -9 so i guess will be -15 pips

update - just closed trade no4 at +4 pips, at least not a loss
Hi Adrian

We have already discussed it on Skype but just for the other readers:

1. Be careful to use the 10MA as entry point.
2. Wait for price to found support on 21MA.
3. Wait for a recognisable price pattern to appear.
4. Wait for the 21 to exit the non-trade zone to the right side
5. Avoid over-trading.

Tx for your chart.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,644
  • Nov 19, 2007 5:37pm Nov 19, 2007 5:37pm
This has been a great system so far for me. I made three trades today on the USD/JPY and took profit on each one.

Thanks for this great thread! Keep up the great work. I have done alot of optimization testing and it seems that with the USD/JPY pair, a good TP/SL ratio is 14/6+Spread. The only thing I don't like about this system is the limited risk ratio. I like to trade a 3:1 ratio but I sometimes end up having less than a 2:1.

I attached a screenshot of my trades today.

Attached Image


  • #2,645
  • Nov 20, 2007 10:21am Nov 20, 2007 10:21am
Quoting logiktrader
This has been a great system so far for me. I made three trades today on the USD/JPY and took profit on each one.

Thanks for this great thread! Keep up the great work. I have done alot of optimization testing and it seems that with the USD/JPY pair, a good TP/SL ratio is 14/6+Spread. The only thing I don't like about this system is the limited risk ratio. I like to trade a 3:1 ratio but I sometimes end up having less than a 2:1.

I attached a screenshot of my trades today.

Attachment
Hi Logi

Yes I do agree with you regarding the risk ratio. That is why I'll try and get out of the trade before my stoploss is triggered. That makes the risk ratio much more favourable. It takes discipline to exit the trade if it goes against you for just a few pips.

That is why I like to have my small support/resistance line drawn. Any activity on the wrong side of that line - and I'll try and exit the trade as close as possible to break even.

Maybe you can work something out for yourself but I do trust Phillip's original system - I am sure he had more than enough reasons for having the specific stoploss and take profit targets.

What I found on the eur/yen pair is that you can increase your take profit - sometimes up to 20 to 30 pips. But please be very careful this is a very volatile pair. You will start to recognize those set-ups where you can extend your take profit targets.

Just stay with the pairs you are familiar with.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,646
  • Nov 21, 2007 10:55am Nov 21, 2007 10:55am
Seems like nothing is really going on with the 5min system - so I am showing people another 3 little sisters formation on cable with a possible 20pips profit (4pips spread). Enter on a pullback as close as possibe to 21MA. This is where I'll break a few rules but I would like to see the entry below the 50MA.

This one worked out perfectly but I didn't take - was busy with my other charts/systems.
Attached Image (click to enlarge)
Click to Enlarge Name: 2007121 cable 3littles sisters.gif Size: 26 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,647
  • Nov 25, 2007 2:59am Nov 25, 2007 2:59am
My weekly trades & outcome - last week. I didn't have time to follow the markets and specific setups and therefor didn't trade a lot because of other commitments. Where there is a "?", there wasn't a specific price pattern.

10 trades on my 4 pairs:

7 positive, 2 negative and 1 BE trades.

+41pips profit, -16pips losses = +25pips profit
Attached File(s)
File Type: xls 5min & 4H MACD system trade outcome 200710-.XLS   75 KB | 494 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,648
  • Nov 25, 2007 11:24pm Nov 25, 2007 11:24pm
I'm new here... can I ask for the indicator of 50sma angle and 21ema angle more than 10 degrees... I try to find it... please anyone repost it... thank u soo much for ur kindness .. and philnell latest indicator..
  • #2,649
  • Nov 25, 2007 11:58pm Nov 25, 2007 11:58pm
Quoting amriez
I'm new here... can I ask for the indicator of 50sma angle and 21ema angle more than 10 degrees... I try to find it... please anyone repost it... thank u soo much for ur kindness .. and philnell latest indicator..
Hi Amr

Wellcome to this system and I hope you will enjoy. You will find all the necessary information in my rules on page 156 including references to the relevant page numbers.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,650
  • Nov 26, 2007 10:09am Nov 26, 2007 10:09am
One trade today on EUR on my mobile phone. A beauty of Church to right price formation. I put my TP just around the previous high - some 13pips away. Chart 1 for my trade.

Chart 2 is a follow-up - another possible trade resulting in a BE trade. Also a very nice Church to right formation. I won't have taken that one because my SMall support line was broken @ 10:20 (vertical line).

Then there was a third setup - also I would have ignored that setup because of the actiivites below the 21MA (in the ellipse). As well as the lower high formed a few candles before. But as you can see - high risk setups can work out but it is just not for me.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071126 5min trade 1.gif Size: 20 KB
Click to Enlarge Name: 20071126 eur 2.gif Size: 29 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,651
  • Nov 26, 2007 10:33am Nov 26, 2007 10:33am
Just to show you that the trade above was in line with 4h MACD rules - bounce off the 21MA and the activities is currently above the 21MA. Therefore consider long trade setups.

For those who are familiar with Phillip's 4h MACD system.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071126 eur 4h.gif Size: 17 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,652
  • Nov 26, 2007 11:39pm Nov 26, 2007 11:39pm
First I would like to ask you to remove the address to the web page, this thread and forum is not to solicit business.

Secondly, we are using the thread as an instrument to learn, and I think your asking for money is very unprofessional.

Please clear this previous post, I have also sent a PM to the Moderator to inform him of this.

Thank you.

Ken
  • #2,653
  • Nov 27, 2007 3:03am Nov 27, 2007 3:03am
Quoting monarch
First I would like to ask you to remove the address to the web page, this thread and forum is not to solicit business.

Secondly, we are using the thread as an instrument to learn, and I think your asking for money is very unprofessional.

Please clear this previous post, I have also sent a PM to the Moderator to inform him of this.

Thank you.

Ken
Hi Ken

Thank you for your response - I do appreciate it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,654
  • Nov 27, 2007 4:17am Nov 27, 2007 4:17am
Quoting taufiq86
[...]Dear Fellow Forex Trader,



you can check the official website for this system. ttp://www.trendforexsystem.com/ [...]

http://www.forexfactory.com/images/misc/progress.gif

Oh man, trolls also here? Damn it, they are everywhere.:surprised
  • #2,655
  • Nov 27, 2007 9:54am Nov 27, 2007 9:54am
Willem and all guys in the forum

If we had to have a real time signal submission system with an explanation recieved would you and anyone good into the system be interested to operate it?

I am ready to give out the technology for the system as i have an IT company, so can develop this for free and we get to send a buy/sell signal with an explanation of the trade. no money free to all of course and will be just for teaching and learning more about how to trade profitably.

what you guys think?



Quoting Golfer
Hi Adrian

We have already discussed it on Skype but just for the other readers:

1. Be careful to use the 10MA as entry point.
2. Wait for price to found support on 21MA.
3. Wait for a recognisable price pattern to appear.
4. Wait for the 21 to exit the non-trade zone to the right side
5. Avoid over-trading.

Tx for your chart.
  • #2,656
  • Nov 27, 2007 2:17pm Nov 27, 2007 2:17pm
Quoting adrianebn
Willem and all guys in the forum

If we had to have a real time signal submission system with an explanation recieved would you and anyone good into the system be interested to operate it?

I am ready to give out the technology for the system as i have an IT company, so can develop this for free and we get to send a buy/sell signal with an explanation of the trade. no money free to all of course and will be just for teaching and learning more about how to trade profitably.

what you guys think?
Hi Adriane

Yes, I won't have a problem with such a system but I am worried about the practicality of such a system. The signals do come very quickly and one's entry should be spot on.

Another problem is my full time job and I won't be able to give it all my efforts. But then there could be somebody else.

But I am sure you are the tech expert and should be able to give guidance. I am always open for suggestions and would like to experiment. Only if everybody can benefit like you said.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,657
  • Nov 29, 2007 8:46am Nov 29, 2007 8:46am
Seems very quiet on the thread. This week was very quiet for me but the two of my trades today. If there are people who are still interested. The first trade looks like a descending triangle but after eight candles I decided to close it for a 2pip profit. I was also worried about my daily pivot line just below the price actions.

The second trade was a bit of a high risk trade. I also decided to close the trade after the activities on the wrong side of my small resistance line. I also didn't like that higher low on the previous candles.

Very interesting to compare the 5min chart with the 4h MACD chart. Look at the direction of my trades as well as the 4h MACD price action rules.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071129 5min trade 3.gif Size: 19 KB
Click to Enlarge Name: 20071129 ey 4h.gif Size: 16 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,658
  • Nov 29, 2007 8:50am Nov 29, 2007 8:50am
My trade on the EUR today resulting in a 4pip profit. Not that easy to trade if you cannot follow the market continuously.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071129 5min trade 2.gif Size: 16 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,659
  • Nov 29, 2007 8:57am Nov 29, 2007 8:57am
A third setup on the EY I was looking at but I decided not to take it. Just look at the nice resistance line that you could have drawn and the trade worked out.

A great entry point would have been where the resistance line and 21MA came close together.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071129 ey setup.gif Size: 20 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,660
  • Nov 29, 2007 9:08am Nov 29, 2007 9:08am
Just to show you a few beautiful setups today on cable. The arrows indicatethe entry candle.

The first setup is a classic ellipse price pattern. The second said I would have ignored because it looks like an ascending candle being formed with a possible breakout to the upside.

The next two setups would have been difficult to spot because they didn't reach the 21MA. Look at the four hour MACD chart and take your chance.

I didn't draw my small resistance line but you can see that all the activities would have been below that resistance line.

Just look at the 4h MACD chart and see how the price is pulling back towards the 89MA. The reasons why you should take this setups on the 5min chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071129 cable setups.gif Size: 16 KB
Click to Enlarge Name: 20071129 cable 4h.gif Size: 21 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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