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5Min Intraday System

  • #2,681
  • Dec 3, 2007 11:15am Dec 3, 2007 11:15am
Hi Emarco

Sorry, I just saw your PM. Here are the templates and indicators as you would find it on my PC.
Attached File(s)
File Type: tpl 1 & 5 min scalping 0.1.tpl   8 KB | 7,754 downloads
File Type: ex4 SMAAngle.ex4   3 KB | 7,985 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,682
  • Dec 3, 2007 11:20am Dec 3, 2007 11:20am
The rest
Attached File(s)
File Type: ex4 MultiplePivotsV2.ex4   24 KB | 3,543 downloads
File Type: ex4 EJ_CandleTime[1]Hrs.ex4   2 KB | 3,290 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,683
  • Dec 3, 2007 11:23am Dec 3, 2007 11:23am
Then a EA I am using to put my SL, TP and move to BE after 6pips move automatically. Thanks to Yorik.
Attached File(s)
File Type: mq4 5MinHelper.mq4   8 KB | 1,977 downloads
File Type: ex4 5MinHelper.ex4   7 KB | 1,443 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,684
  • Dec 3, 2007 12:00pm Dec 3, 2007 12:00pm
A quick trade a few minutes ago (ascending triangle - no very clear)- just to show you how to exit if a rule is broken. My Small support line was broken with a close on the wrong side of it (in the ellipse). Exit for 3pips profit.

I was looking for a 10pips bounce off my small support line and the 50MA. A phenomena I started to see on the EY pair. Little bit of a risky trade. I will only try it on the EY because it will give you change to exit BE or small profit if necessary.

Surprise if you look at the second chart (possible 11pips profit) - I am just too careful. Need to trust my price patterns. Luckily I don't worry about it. Just loking for the next high probability setup.

The more I follow this pair, the more I like it. However, one needs to be very careful and one needs to be sure that you enter on the pullbacks (price is very close to lines on entry). Very volatile. I trade it with 0.05 micro-lots, just to be sure.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071203 trade 2.gif Size: 25 KB
Click to Enlarge Name: 20071203 trade 2a.gif Size: 22 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,685
  • Dec 4, 2007 8:09am Dec 4, 2007 8:09am
An example of an ascending triangle on EY on the 50MA. And my trade on the next pullback to my SMall support line. My entry was too early - one should wait for a deeper pullback closer to the 50MA and support line. Just to ensure that the support line will hold.

3pips profit because my Support line was broken.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071204 5min trade 1.gif Size: 26 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,686
  • Edited 8:39am Dec 4, 2007 8:18am | Edited 8:39am
I think this is what Philip is trying to teach us. By studying only a few/certain pairs, one gets familiar with the patterns.

Just look at post number 2684 and 2685. Look at the similarity of the charts. Very interesting and this is what I expect from the EY. I do see it very often on this pair.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,687
  • Dec 4, 2007 8:29am Dec 4, 2007 8:29am
I have been trying to follow Philip's other time methods. Is there an active Skype room for this strategy and if so what hours are people around? I would love to add some more trades with this method. What sucess is everyone having?

thanks
Rob
  • #2,688
  • Dec 4, 2007 8:34am Dec 4, 2007 8:34am
Cable - can you see why this trade should be taken from the 10MA?
Attached Image (click to enlarge)
Click to Enlarge Name: 20071204 cable 1.gif Size: 25 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,689
  • Dec 4, 2007 8:36am Dec 4, 2007 8:36am
Quoting Longboat
I have been trying to follow Philip's other time methods. Is there an active Skype room for this strategy and if so what hours are people around? I would love to add some more trades with this method. What sucess is everyone having?

thanks
Rob
Hi Rob

Yes, there is a Skype chat and we are currently chatting. I can only start chatting at 15H00 GMT if time allows.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,690
  • Dec 4, 2007 8:37am Dec 4, 2007 8:37am
Hi Golfer....
Thanks so much for your advice. I'll follow it.
Trying to learn this system.... I am looking for instructions on how
to evaluate the SMaa angle and 21 ema.
Do not enter trades if ema is between 0.10 and -0.10 is this right?
Green bars should be rising or falling in the direction you wish to trade.
Is this right?
Is there any post that explains more on Phils indicators? I'm still reading
through this thread slowly.

Again, thanks for your help.... and happy piping.
trademeister
  • #2,691
  • Dec 4, 2007 8:45am Dec 4, 2007 8:45am
Just to show people what is discussed on chat:

[06:03:28 PM] zz says: thre might be a setup in cable
[06:05:08 PM] Willem Kruger says: Yes let see how it develops. Just made 3pips on EY.
[06:11:08 PM] Willem Kruger says: My entry was just too early. One should wait for a deeper pullback. Just posted on ff
[06:12:25 PM] Willem Kruger says: Cable - initial pullback looks good.
[06:21:47 PM] Willem Kruger says: Cable - I do like two tails touching the 10MA. The last one is lower than the previous on. Possible descending triangle being formed.
[06:22:26 PM] zz says: dosent seems like it is going to pull back into 21ema
[06:26:50 PM] Willem Kruger says: ?I am not sure Cable will give us an entry from the 21MA.
[06:29:40 PM] Willem Kruger says: Cable - I think this one should be taken from the 10MA because of the triangle and it is very risky
[06:35:01 PM] Willem Kruger says: Just posted my Cable chart on ff
[06:40:46 PM] zz says: i took it with 5 pips profit now
[06:41:30 PM] Willem Kruger says: Great - this is a great setup
[06:42:04 PM] Willem Kruger says: Should have entered at 2.0590
[06:42:33 PM] Sherzod says: EY bounced from small support line and 50 MA
[06:43:56 PM] Willem Kruger says: EY - yes just be careful. ALready 2lower highs. Don't try and take more than 10pips profit. Take it if it is on the table
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,692
  • Dec 4, 2007 8:55am Dec 4, 2007 8:55am
got the same setup with golfer and able to get in the post with 10 pips profit. Was disucsing the trade with golfer in the 5 min chat during the trade
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 89 KB
  • #2,693
  • Dec 4, 2007 9:06am Dec 4, 2007 9:06am
Hi TradeM

See my comments in the message

Quoting trademeister
Hi Golfer....
Thanks so much for your advice. I'll follow it.
Trying to learn this system.... I am looking for instructions on how
to evaluate the SMaa angle and 21 ema.

Very important - cornerstone of this system along with price patterns. Just did a trade on Cable with a descending triangle.

Do not enter trades if ema is between 0.10 and -0.10 is this right?

Correct.

Green bars should be rising or falling in the direction you wish to trade.
Is this right?

You can use it as filter yes but not really essential. Sometimes the bars would be above the 0 line, it went up for a while but then it is coming down towards the 0 line. Still you can find a great setup with a price pattern during that downward move of the bars.

Is there any post that explains more on Phils indicators? I'm still reading
through this thread slowly.

No, not really. I put the most important information in the files posted on page 156 after consultation with Phillip. But please read through the thread and look at the charts to get a feeling for the setups.

Again, thanks for your help.... and happy piping.
trademeister
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,694
  • Edited 9:43am Dec 4, 2007 9:34am | Edited 9:43am
The trade (Initial setup on post #2688):

1. Look at the support found on the M2 daily pivot line.

2. Look at the tails on candle 1 & 2 - that is the second sign that the triangle is being formed. Get ready and draw your support/resistance lines.

3. It was evident that this trade will be from the 10MA - it will not give a signal in the war zone. Triangle pattern will be broken then.

4. Wait for the third or fouth pullback touching the 10MA and enter (where my price tag is or the high of candle 3.

5. And 10pips later you have the profit in ther bag.

6. Sometimes you can take half profit and let the other half run. But today it was choppy and slow. Take your 10pips if it is on the table.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071204 5min trade 2.gif Size: 23 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,695
  • Dec 4, 2007 9:46am Dec 4, 2007 9:46am
Quoting ramshackle
got the same setup with golfer and able to get in the post with 10 pips profit. Was disucsing the trade with golfer in the 5 min chat during the trade
Also a nice symm triangle you do have on your chart with a breakout in the direction of the mini-trend.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,696
  • Dec 5, 2007 9:01am Dec 5, 2007 9:01am
Thanks Golfer,

I'm going to page 156 now to study more. I'm sure I'll get the hang of
this method with practice. Thanks again for your adivce.

trademeister
  • #2,697
  • Dec 5, 2007 11:47am Dec 5, 2007 11:47am
Quoting trademeister
Thanks Golfer,

I'm going to page 156 now to study more. I'm sure I'll get the hang of
this method with practice. Thanks again for your adivce.

trademeister
My pleasure and enjoy the ride.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,698
  • Dec 5, 2007 12:11pm Dec 5, 2007 12:11pm
Do you recognize this set up? Look at post #2685. Once again this is what Phillip trying to teach us - learn the price movements of your pairs. This is just another example why used to just follow a few pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071205 ey change 1.gif Size: 17 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,699
  • Dec 5, 2007 12:15pm Dec 5, 2007 12:15pm
Just an example where I entered too early. With the EY one should wait for a proper based testing of any line. This pair will you that opportunity.

The trade went down for about eight pips profit & I manage 3pips profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071205 5min trade 1.gif Size: 20 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,700
  • Dec 5, 2007 12:18pm Dec 5, 2007 12:18pm
My $Y trade done on Skype. I just couldn't resist the triangle and entered just after the News release -little bit risky. Just ignore the first entry mark at 110.34. It was an entry for my 30minute system resulting in 30pips profit
Attached Image (click to enlarge)
Click to Enlarge Name: 20071205 5min trade 2.gif Size: 19 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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