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5Min Intraday System

  • #2,761
  • Edited 5:52am Dec 14, 2007 4:05am | Edited 5:52am
that's my another deal. could have waited longer and take more pips but didn't want to be too greed :-)
http://img147.imageshack.us/img147/9794/asdrk0.jpg

and another later that day

http://img338.imageshack.us/img338/5129/asdpf7.jpg
  • #2,762
  • Dec 14, 2007 8:22am Dec 14, 2007 8:22am
Woke up to a great set up this morning resulting in 9.2 pips profit. Would have been 10 pips but I couldn't keep up with the volatility at the moment.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: goodmorning.JPG Size: 71 KB
  • #2,763
  • Dec 14, 2007 8:24am Dec 14, 2007 8:24am
Quoting antjama
that's my another deal. could have waited longer and take more pips but didn't want to be too greed :-)
http://img147.imageshack.us/img147/9794/asdrk0.jpg

and another later that day

http://img338.imageshack.us/img338/5129/asdpf7.jpg

Hi Ant

Yes, today was a nice day for the 5min system. Great trades.

With this 5min system - NEVER worry about pips left on the table (exit too early). That will make you greedy and you'll tend to ignore the rules (lose you discipline - be aware). Many a times I will close my trade for 3-4pips profit because I didn't feel comfortable with something in the setup. Just to see later that my TP was reached. The opposite is also true.

This is a very short term system (you should exit your trade within 5-6 cnadles - one of the rules). With this system and a SL so close to the actual price it is better to take your profit and be happy. You could have tried enter with 2 lots and exit the first half after 10pips. But it is seldom that you do get an opportunity to make more than 20pips. Today was something special.

I also made 22 pips today - very early in the opening of the London session. After that I was busy at work. Now I am sitting at the airport as we "speak".


Hope some of you got some pips. This was a beauty of a day for the 5min system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,764
  • Dec 14, 2007 10:33am Dec 14, 2007 10:33am
Golfer, does pullback from sma50 woking also ?

or this can be used optionaly ?
  • #2,765
  • Dec 15, 2007 12:32am Dec 15, 2007 12:32am
Quoting 4newbie
Golfer, does pullback from sma50 woking also ?

or this can be used optionaly ?
Hi 4new

Yes it can work but be very careful. I only use that option with the EY pair because of its price actions. Sometimes it tends to bounce off of the 50MA and there is 10pips in it. Just make sure that the 50MA acts as resistance or support. Sometimes it's very clear and you can go for it. It doesn't work if the 50MA is not to acting as a support or resistance

I don't aim for more than 10pips if it is from the 50MA.

All that I can say is be very careful. Follow the market, recognize the setup and make sure you understand it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,766
  • Dec 17, 2007 3:27pm Dec 17, 2007 3:27pm
Seems like here is nothing really going on the 5min system thread anymore - so, just a few bars what Phillip sent me which he feels are strong bars to look for in the war zone.

I am sure he would not mind if I put it on the thread because I am not sure how active people are with the system (people using this thread). But so be it.

I don't know if it will help anybody - to me it is very helpful. I am going to use it with my price patterns to determine my entry points.
Attached File(s)
File Type: doc 5min system Stong candles in war zone 1.doc   80 KB | 5,543 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,767
  • Dec 17, 2007 3:31pm Dec 17, 2007 3:31pm
Thanks Golfer that is a big help. I was watching the thread all day wondering if anyone was going to post. I don't have any charts in front of me at work but was wondering what was going on on the 5min! Will watch the Asian session.
  • #2,768
  • Dec 18, 2007 12:03am Dec 18, 2007 12:03am
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting Golfer
Seems like here is nothing really going on the 5min system thread anymore - so, just a few bars what Phillip sent me which he feels are strong bars to look for in the war zone.

I am sure he would not mind if I put it on the thread because I am not sure how active people are with the system (people using this thread). But so be it.

I don't know if it will help anybody - to me it is very helpful. I am going to use it with my price patterns to determine my entry points.
Hi Golfer! Long time no see!

I have been quite busy lately with work, and trading has unfortunately taken a back seat. I am glad to see that you are still using this system - as am I. I have started to get quite good at picking good entries - thanks to six plus months of screen time. That said I am far from been a professional trader. A lot of my problem is that I am more likely to break even then win or lose. I have stuck to the strategy of entering with a SL of 10 points, TP of 15 points and move SL to BE after price has closed +7.5 points.

Almost all of my losses can be attributed to my lack of patience at times, ie not entering on a proper pull back to the war zone.

I would love to hear how you are going at this strategy, as I do believe that in the right set of hands, this can be a powerful strategy!
  • #2,769
  • Dec 18, 2007 12:28am Dec 18, 2007 12:28am
Quoting CHECKstar
Hi Golfer! Long time no see!

I have been quite busy lately with work, and trading has unfortunately taken a back seat. I am glad to see that you are still using this system - as am I. I have started to get quite good at picking good entries - thanks to six plus months of screen time. That said I am far from been a professional trader. A lot of my problem is that I am more likely to break even then win or lose. I have stuck to the strategy of entering with a SL of 10 points, TP of 15 points and move SL to BE after price has closed +7.5 points.

Almost all of my losses can be attributed to my lack of patience at times, ie not entering on a proper pull back to the war zone.

I would love to hear how you are going at this strategy, as I do believe that in the right set of hands, this can be a powerful strategy!
Hi Checks

Great to hear from you again, wellcome back. I saw on your thread that you've been away for a long time. It looks like you are doing the right thing. I also had a long period of "screen testing" the system - just looking at the setups as they develop. Or doing some back testing - which I still do over the weekends.

I am so glad you are back and it seems like you are doing well with this system.

Currently I am using the EA (Swiss Army - posted a page or three ago by Ramschackle (zz)) to put my stoploss and take profit as well as moving my stop loss to break even after six pips automatically. It is a great tool for those who lack the discipline of putting stoplosses.

I am doing very well with the system. I just need to be careful after 18H00GMT. The markets tend to slow down or reverse and that is where my losses occur. Yesterday I had a loss and I will post it later today. That is why I decided to minimise my trading after 18H00GMT.

The 5min Skype chat is also up and running again - we will only discuss the setups as it occurs. We are trying to minimise the private chats because the trades are so quick.

Nice to chat to you again and see you on the thread.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,770
  • Dec 18, 2007 1:55am Dec 18, 2007 1:55am
Hi golfer,

This is the first time i have posted here. I have been following this system for such a long time. I'm a experienced full-time trader for 4 years, and i think this is the best system that i have found out there. Your contribution to this thread is priceless. I have learned so much from your mistakes, and the fact that you are willing to share all of that with us is very descent from you. I again appreciate your input, and if you could invite me over to your skype chat room, i could offer signals to whomever as i see them. I have been loving the results of this system so far. Thanks in advance
  • #2,771
  • Dec 18, 2007 5:11am Dec 18, 2007 5:11am
Quoting fearless
Hi golfer,

This is the first time i have posted here. I have been following this system for such a long time. I'm a experienced full-time trader for 4 years, and i think this is the best system that i have found out there. Your contribution to this thread is priceless. I have learned so much from your mistakes, and the fact that you are willing to share all of that with us is very descent from you. I again appreciate your input, and if you could invite me over to your skype chat room, i could offer signals to whomever as i see them. I have been loving the results of this system so far. Thanks in advance
Hi Fearless

Thanks and wellcome to the thread. Yes, I saw your name at the bottom of the thread several times and I am so glad to see your post.

We do appreciate all the input and I am looking forward to your contributions.

All I need is your Skype ID so that I can put it on my contact list. From there, I can add you to the Skype chat. If you can just PM your Skype ID to me, I'll put you on the Skype chat.

We usually discuss the setups as it appears - taking into consideration all the related issues e.g. candle formations, price formation, resistance/support signs, ect. And then it's up to each and every individual to enter if he or she feels comfortable with the setup.

Very interesting chat - you will see one guy chatting on the Skype chat and then all of a sudden he/she goes quiet. Just to re-appear minutes later with the results of his or her trade. So if you somebody goes quiet - you know he or she is in a trade. It is very interesting to see how different people argue that specific setup.

We usually discuss the four pairs (EUR$, Cable, $Y and EY).
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,772
  • Edited 5:30am Dec 18, 2007 5:16am | Edited 5:30am
Thanks Golfer for share Phillip's bars (candles) document with us.
I 'm starting to look for those patterns.
This morning I found this one on G/U after news using 1 min entry.
Attached Image (click to enlarge)
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  • #2,773
  • Dec 18, 2007 5:29am Dec 18, 2007 5:29am
apparently i don't have enough posts to send a pm. however, my skype is fadi.hijazi thanks again.
  • #2,774
  • Dec 18, 2007 6:10am Dec 18, 2007 6:10am
Quoting mkain
Thanks Golfer for share Phillip's bars (candles) document with us.
I 'm starting to look for those patterns.
This morning I found this one on G/U after news using 1 min entry.
Hi Mk

Very interesting - I saw the initial move downwards on the five-minute chart after the news release. Then I changed to the one minute chart.

I've missed the first pullback (Nadia is usually good with an entry on the the first pullback). I saw one small bullish after another and then I got busy with something else. I saw the second opportunity almost too late. I entered three bars later in and exit for 20 pips profit.

That was a classic one minute news release chart.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,775
  • Dec 18, 2007 6:13am Dec 18, 2007 6:13am
Quoting fearless
apparently i don't have enough posts to send a pm. however, my skype is fadi.hijazi thanks again.
Hi Fless

Don't worry - and just more reason for you to post charts. LOL!

I'll put you on the Skype chat.

PS - you are on the chat. We'll start chatting very soon. Sometimes it helps to switch off your skype and then just switch it on again.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,776
  • Dec 18, 2007 7:21am Dec 18, 2007 7:21am
Hi golfer!

cann u add me to the chat skype room?

my skype ID is: goldworkers

You are trading the gbpjpy too?

Thanks!
  • #2,777
  • Dec 18, 2007 7:43am Dec 18, 2007 7:43am
Just for those who are on the Skype chat:

 

  1. For those who are still interested in the Skype chat and want to participate - never click on the green "leave" icon. If you to click on the green leave icon - you will leave the chat permanently and somebody must put you back on to the chat. Also make sure the chat is bookmarked.

  1. For those who are no longer interested in the Skype chat - click on the green leave icon.

Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,778
  • Dec 18, 2007 7:48am Dec 18, 2007 7:48am
Quoting goldworkers
Hi golfer!

cann u add me to the chat skype room?

my skype ID is: goldworkers

You are trading the gbpjpy too?

Thanks!
Hi Goldw

No problem - I'll add you to the chat.

I don't know you there is currently somebody trading the GBPJPY. You must look for yourself. Personally I don't trade it.

PS - you are on the Skype chat
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,779
  • Dec 18, 2007 8:18am Dec 18, 2007 8:18am
Quoting Golfer
Hi Goldw

No problem - I'll add you to the chat.

I don't know you there is currently somebody trading the GBPJPY. You must look for yourself. Personally I don't trade it.

PS - you are on the Skype chat

Golfer, could u add me to the Skype chat too

My ID: dast25
  • #2,780
  • Dec 18, 2007 9:29am Dec 18, 2007 9:29am
Quoting 4newbie
Golfer, could u add me to the Skype chat too

My ID: dast25
Hi 4new

You're on the chat - wellcome. Nothing really going on now - too choppy
Willem Forex recipe for success = Patience, discipline & hard work.
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