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Trend Follower 5 Minute System

  • #1,141
  • Nov 26, 2007 9:17am Nov 26, 2007 9:17am
Quoting TheWicker
The system remains unchanged since the beginning of this thread
Thanks for sharing this excellent system with us.
Philn
  • #1,142
  • Nov 26, 2007 4:52pm Nov 26, 2007 4:52pm
Many thanks Wicker for your Work.
I m papertrading with a friend since 1 month on your système.
We begening en real account next Week.
THe most difficult in your system his to keep benefice and cut position.
We work again on it, but can you give somme more conseils to cut the position?
when move up the stop lose?
I write you from France "Marseille"
See you
Pierre
  • #1,143
  • Nov 27, 2007 1:26am Nov 27, 2007 1:26am
Quoting pierre102
Many thanks Wicker for your Work.
I m papertrading with a friend since 1 month on your système.
We begening en real account next Week.
THe most difficult in your system his to keep benefice and cut position.
We work again on it, but can you give somme more conseils to cut the position?
when move up the stop lose?
I write you from France "Marseille"
See you
Pierre
I would usually move my stop to break-even when 15-20 pips in profit, but I don't use it often since it can be a double edged sword.

If you're not yet profitable, I would advise you against live trading. Choose your exit points and where your break-even positions is going to be in each trade you take! Trade for one full month with demo and if the end result is positive, go live.
  • #1,144
  • Nov 27, 2007 1:53am Nov 27, 2007 1:53am
If anyone wants a trading room for trend follower lets discuss it here. I won't be online much, but all of you can stick in that room and share signals and opinions. If you have an idea, we can do this and I'll add it also in my blog post.
  • #1,145
  • Nov 27, 2007 3:48am Nov 27, 2007 3:48am
Quoting TraderSeven
I have some question and hope someone is kind enough to answer them.

I think at the 3rd arrow there is a perfect long setup with everything aligning and and the Guppy's compressed.

But what about the 1st white arrow?
At the the bar with the arrow MACD is still below zero.
But at the close of the next bar it's above zero (impossible to see on the pic)
Guppy is in a narrow rangel but orange and yellow are crossing.
Is that allowed? Do only red and green be correctly ordered?

Finally another question about the 3rd arrow.
Just befor that signal MACD dipped below the 0-line
Suppose it didn't and was above al the way back to the 1st white arrow.
Would that invalidate the setup?
Would be an excellent signal to go long.
  • #1,146
  • Nov 27, 2007 10:10am Nov 27, 2007 10:10am
Quoting TheWicker
If anyone wants a trading room for trend follower lets discuss it here. I won't be online much, but all of you can stick in that room and share signals and opinions. If you have an idea, we can do this and I'll add it also in my blog post.
I can setup a chat room but Inram set one up on his strategy and found it distracting. With new people not reading the documentation and constantly asking the same questions. So he went back to using a the FF forum like this one only But if people feel that it would work I will be glad to host a room.
Philn
  • #1,147
  • Nov 27, 2007 6:27pm Nov 27, 2007 6:27pm
Hello. Is there any suggestions how can we avoid the false breaouts when all the setups are seem to be all right. Pleace share your approach, and ideas...
Thank you
ChartSurfer
  • #1,148
  • Nov 28, 2007 4:24am Nov 28, 2007 4:24am
Quoting philn
I can setup a chat room but Inram set one up on his strategy and found it distracting. With new people not reading the documentation and constantly asking the same questions. So he went back to using a the FF forum like this one only But if people feel that it would work I will be glad to host a room.
Philn
Thanks for the suggestion, I will listen to your advice. I have experienced the same before, so its best to only use this forum.

If however the majority wants the room, we can do it.
  • #1,149
  • Nov 28, 2007 5:54am Nov 28, 2007 5:54am
Hi Wicker,

Could you please share with us your money management approach? Also, what a typical ratio, in your case, of "failed" trades to all the trades you take? MANY THANKS!
One Chart is Worth Ten Thousand Words.
  • #1,150
  • Nov 30, 2007 6:53am Nov 30, 2007 6:53am
Dear the Wicker and everyboddy

i was wondering wether you would have taken this long trade on EUR USD 5 m at 13h35.
Thank you for your system.
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  • #1,151
  • Nov 30, 2007 7:12am Nov 30, 2007 7:12am
Quoting pierre102
Dear the Wicker and everyboddy

i was wondering wether you would have taken this long trade on EUR USD 5 m at 13h35.
Thank you for your system.
Attachment
it was a good trade and all conditions are met ,, but there is some thing , it was before ny open , about 20 min before it ,
so i think we should stop trading at this time , coz the market may go against us :surprised
  • #1,152
  • Nov 30, 2007 4:48pm Nov 30, 2007 4:48pm
Quoting pierre102
Dear the Wicker and everyboddy

i was wondering wether you would have taken this long trade on EUR USD 5 m at 13h35.
Thank you for your system.
Attachment
Not so fun! Is there somme responsability of the Piviot level?
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  • #1,153
  • Dec 1, 2007 7:38am Dec 1, 2007 7:38am
Quoting philn
I can setup a chat room but Inram set one up on his strategy and found it distracting. With new people not reading the documentation and constantly asking the same questions. So he went back to using a the FF forum like this one only But if people feel that it would work I will be glad to host a room.
Philn
I have joined such chat rooms before during live sessions, and I have personally found them to be useless. The only thing you may ever see, is did anyone make x-PIPs off of that trade. The problem is that you will not get any valuable information out of it, and you will only see comments coming out after the fact asking if anyone caught that trade. I have learned more from forums than those chat rooms.

Eventually most chat rooms will die since when does someone live trading have time to be conversing in a chat room?
  • #1,154
  • Dec 1, 2007 7:49am Dec 1, 2007 7:49am
Quoting pierre102
Dear the Wicker and everyboddy

i was wondering wether you would have taken this long trade on EUR USD 5 m at 13h35.
Thank you for your system.
Attachment
Thanks for a good example of why that trade would have failed. I do not know what I would have done when I saw that either since when one trades, one must stick by the rules, but also adhere to other conditions that may not be mentioned in the rules.

First, notice how the candle kept bouncing off of that EMA [black line] which usually means don't trade until it closes above it for a long.

Second, you are very close to the Pivot Point [approx 7 PIPs] which does not give you much room for a good trade even if it broke the EMA line.



One of the problems I have encountered is that price can move up quite a bit before you get a signal, and can fall much faster than it goes up in 5 minutes.
  • #1,155
  • Dec 1, 2007 2:52pm Dec 1, 2007 2:52pm
We can say during this WE, friday was the day of USDCHFM5.
Look the lovely trade.
And the second at 7PM.
I want to know, if every think was ok to take this two trades?
The second one, guppy was not so large, we are not too late in the day?
Explain me how and why and when you take your profits, excuse me lovely profit.
See you every body.
PS: i think it is a good idee to work with a chat or by skype at 5 peoples.
I speak french, if we are some, contact me.

Pierre102
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  • #1,156
  • Dec 2, 2007 6:12am Dec 2, 2007 6:12am
Quoting pierre102
Dear the Wicker and everyboddy

i was wondering wether you would have taken this long trade on EUR USD 5 m at 13h35.
Thank you for your system.
Attachment
There is no cross of Laguerre 0.15 from below ?
  • #1,157
  • Edited 7:02am Dec 2, 2007 6:35am | Edited 7:02am
Quoting TheWicker
There is no cross of Laguerre 0.15 from below ?
We was at 0.16 in the end of the candle just after the candle with the green signal.
Perhaps not enought cross.
Many Thanks
  • #1,158
  • Dec 2, 2007 7:01am Dec 2, 2007 7:01am
Quoting pierre102
We was at 0.16 with the last candle.
Perhaps not enought cross.
Many Thanks
Yes, there is no visible cross. I looked at it twice, but couldn't see it. So, if in doubt, don't enter the trade. It may or may not go to a positive direction, but still rather take those valid signals, where everything aligns perfectly.
  • #1,159
  • Dec 2, 2007 7:07am Dec 2, 2007 7:07am
Quoting TheWicker
Yes, there is no visible cross. I looked at it twice, but couldn't see it. So, if in doubt, don't enter the trade. It may or may not go to a positive direction, but still rather take those valid signals, where everything aligns perfectly.
I m ok, it's Exact and clear.
Thank you
  • #1,160
  • Dec 6, 2007 8:28am Dec 6, 2007 8:28am
Hello, I'm new in this method (also in forexhttp://www.drunkendonkey.net/eng/htm...ons/giggle.gif)....
I have a question....

Can this method applied with GBP/JPY?

Thx...

WisBiz
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