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5Min Intraday System

  • #2,781
  • Dec 18, 2007 9:46am Dec 18, 2007 9:46am
I would also like to join in - thanks - id is jtmcfarlane.
  • #2,782
  • Dec 18, 2007 10:48am Dec 18, 2007 10:48am
does anybody know the chat room's name on skype. thanks
  • #2,783
  • Dec 18, 2007 11:52am Dec 18, 2007 11:52am
hi golfer, I didn't receive any invitation to the skype room. Am i missing something. Do i have to find the room first. Any help would be greatly appreciated
  • #2,784
  • Dec 18, 2007 11:58am Dec 18, 2007 11:58am
Quoting wilczek
I would also like to join in - thanks - id is jtmcfarlane.
Hi Jt

You're on the Skype chat. Wellcome
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,785
  • Dec 18, 2007 12:00pm Dec 18, 2007 12:00pm
Quoting fearless
hi golfer, I didn't receive any invitation to the skype room. Am i missing something. Do i have to find the room first. Any help would be greatly appreciated
Hi Fless

Sorry but sometimes it takes a while for the message to appear. Did you re-boot your PC? It also helps sometimes. I give you a call as well.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,786
  • Dec 18, 2007 12:10pm Dec 18, 2007 12:10pm
Quoting fearless
does anybody know the chat room's name on skype. thanks
Hi Fless

No, I've looked for it but Phillip started the chat. The 4h chat has a name and you can find it on Skype's website. Not the 5min chat.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,787
  • Dec 18, 2007 12:33pm Dec 18, 2007 12:33pm
[02:20:16 PM] *** Willem Kruger added fadi.hijazi to this chat
***
[03:18:23 PM] Willem Kruger says: Hi all, all I can say today is very choppy
[03:19:10 PM] Nadia says: Hi iagree with you
[03:20:47 PM] Willem Kruger says: Had a nice 1min trade on Cable after news release this morning. 20pips. Mkaine posted the chart


And then again:

[07:47:11 PM] Willem Kruger says: Cable - possible reverse church coming up
[07:48:32 PM] Willem Kruger says: Lets see if S1 line can act as support now
[07:48:47 PM] Willem Kruger says: Mean resistance
[07:57:16 PM] *** Willem Kruger added Jon to this chat
***
[08:13:28 PM] Willem Kruger says: EY - the turn around that is now on the chart usually occurs on the 50MA and gives you an opportunity for 10pips. Not today.
[08:18:08 PM] *** Willem Kruger added fadi hijazi to this chat
***
[08:18:30 PM] Willem Kruger says: Fadi, do you read me?
[08:21:51 PM] Willem Kruger says: Cable - hope somebody caught that setup. 10pips in the bank
[08:22:41 PM] Willem Kruger says: Cable - S1 did act as resistance
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,788
  • Dec 18, 2007 1:10pm Dec 18, 2007 1:10pm
The chart of Cable which I warned people that the Reverse church pattern is developing with S1 line acting as resistance. Not a typical Reverse church but I liked the price turning just below S1 line. Enter almost on 10MA while price is moving away from 21MA. I would have liked to see the entry closer to the 21MA.

Watch the very last candle - another higher low just above my exit price block. Ignore the setup.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071218 cable.gif Size: 24 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,789
  • Dec 18, 2007 5:52pm Dec 18, 2007 5:52pm
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.

Thanks golfer,
a bit of basics which you provided is what we all need, reversal candles,
thanks & Merry xmas,
Barry
  • #2,790
  • Dec 18, 2007 6:32pm Dec 18, 2007 6:32pm
Hi Golfer,
Finding this forum very useful. Would like to benefit from joining skype chat. Can you please add me too. My id : imfxbk

TIA,
BK
  • #2,791
  • Dec 18, 2007 6:49pm Dec 18, 2007 6:49pm
Hi Golfer,

johnston171 is my skype name if you wouldn't mind adding. Thanks in advance!
Life is too short to have anything but delusional notions about yourself.
  • #2,792
  • Edited Dec 19, 2007 12:02am Dec 18, 2007 11:52pm | Edited Dec 19, 2007 12:02am
If your charts look like this, you know the market is very choppy. What I am referring to are the several small support and resistance lines. Be very careful during a day like yesterday - I think I had two losers.

The trade on the second chart - luckily I got out with two pips profit because I entered too early (21 was still in the non-trade zone). I just didn't like that tail going through my small resistance line - the reason for my early exit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20071218 choppy.gif Size: 19 KB
Click to Enlarge Name: 20071218 choppy 2.gif Size: 21 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,793
  • Dec 18, 2007 11:58pm Dec 18, 2007 11:58pm
This is the chart of my trade on cable - the same as Mkain. With the 1 min chart, you should also be looking for:

1. Quick pullback into the war zone
2. Support/resistance found on the 21MA.

This is a very risky type of trade and I don't really like to trade it. But it does work.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071218 1min trade 1.gif Size: 17 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,794
  • Dec 19, 2007 12:07am Dec 19, 2007 12:07am
This trade was one of my losses. It was a wrong setup and I couldn't even draw a resistance line. It was way too choppy with tails everywhere and it went very quickly to my stoploss.

I think it's very necessary for us to post our losers and not just winners.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071218 5min trade 2.gif Size: 20 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,795
  • Dec 19, 2007 12:17am Dec 19, 2007 12:17am
The first trade on this chart is my one minute news release trade - just ignore it. The second trade is break even trade thanks to the Swiss Army EA moving my stop was to break even after six pips profit. I was trying to exit half of my trade with five pip profit but then I had to leave my PC.

Also higher lows have been formed meaning a possible triangle and the pressures is there for the price to go upwards. Be careful. I was very lucky to get out of this trade break even.

It is so important to move your stop loss to break even after six pips profit - it is so much easier with the EA because it is done automatically. Also very helpful for those with the lack of discipline.

Thanks again to Ramschakle (zz) for all his efforts - I do appreciate it. Making a life much easier.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071218 5min trade 3.gif Size: 19 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,796
  • Dec 19, 2007 2:31am Dec 19, 2007 2:31am
Wiliem,

I also havent been invited into the chat yet, have rebooted, etc. id again is jtmcfarlane, thanks in advance.
  • #2,797
  • Dec 19, 2007 3:38am Dec 19, 2007 3:38am
Quoting wilczek
Wiliem,

I also havent been invited into the chat yet, have rebooted, etc. id again is jtmcfarlane, thanks in advance.
Hi Jt

I did put you on that chat yesterday and I can see your name on the chat. Currently it is showing that you are offline. Once you are on the chat, I cannot do anything - I cannot remove you or add you again. You can only remove yourself.

I'll wait until you are on line again and I'll give you a call to see what we can do. Yesterday evening we've struggled to get Fearless on the chat as well. Only started to receive the chat this morning. I'm just going to play golf later today - so it will probably around 17H00GMT.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,798
  • Dec 19, 2007 5:01am Dec 19, 2007 5:01am
Wiliem, thanks, seems to have worked this time, much appreciated. Hopefully I will try and be around at 1700GMT and give it a wee test.

Thanks again for your time.
  • #2,799
  • Dec 19, 2007 8:19am Dec 19, 2007 8:19am
Quoting wilczek
Wiliem, thanks, seems to have worked this time, much appreciated. Hopefully I will try and be around at 1700GMT and give it a wee test.

Thanks again for your time.
Hi Wilc

I did put you on the chat - I can see you are on line and green with me. Hopefully you will receive the chat shortly.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,800
  • Dec 19, 2007 8:55am Dec 19, 2007 8:55am
Yes - Thanks a lot, Jon.
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