5Min Intraday System

Thanks for indicator works great
Tom(uk)

Hi Mkain

I can see that you do look at my charts very critically - I do appreciate it, thank you.

Yes, well spotted. It is another suggestion from Phillip. A 34EMA and you will see only on the EY pair. It seems like the EY likes to bounce off it. I am still testing and that is why I don't have any comments on it right now.

Thanks for helping Tom - I think I will also download this version.

Just an example to show people how the 3rd sister is cancelled in a setup. As discussed on Skype:

[06:14:12 PM] Willem Kruger says: Once again nothing going on on my 3 pairs
[06:16:50 PM] Son Of A Banker says: yep..after the overnight flurry...bit quiet at the mement
[06:18:28 PM] Willem Kruger says: EY - just gave a great TC pattern on MACD but SMAangle indicator is totally the opposite
[06:18:51 PM] mkain says: i'm waiting for three little sister on e/j
[06:21:55 PM] Willem Kruger says: The 15:55gmt is the 1st sister because its high is lower that the 15:10gmt candle. That cancel the formation of the 3rd sister (technically speaking)
[06:50:07 PM] Willem Kruger says: Just posted the above message's chart on ff

I had 3 trades today - 2 positive and this negative trade.

I think is important to post our negative trades so that people can see how we were think at the time of the trade. Not all the setups work out. And I am sure you are all tired only looking at positive trades and setups.

Lukcily I am a few pips for the day (my daily aim - to end the day on the positive side.

I entry the trade on my mobile phone (was not with my PC) - not that easy. No SMAangle indicator. Doing it the old-fasion way, looking at the angle of the 50MA, possible Reverse Church formation and MACD signal. I couldn't follow the trade after the entry, so my SL was triggered.

My trade as on SKype:

1. I know Phillip like the movement where the 3 MAs is spread out very evenly (opening up).

2. On the EY, I just like the very first pullback after the 50MA is broken. It is not always possible to find the 21 on the SMAangle out of the non-trade zone with the first pullback and bounce of the 21MA

3. What I saw was a possible bearish 3 pattern being formed

3.1 Big red candle moving downwards
3.2 The next three candles is moving upwards but don't go above the high of the big red candle (this is what I was watching)
3.3 Then you get another big red candle moving down covering the range of the previous 3 bullish candles. (it was this red candle I was trying to catch with the trade)

I hope it make sense.

The Skype chat:

[04:52:56 PM] Willem Kruger says: EUR & EY - choppy and no direction/momentum
[04:53:45 PM] Willem Kruger says: Cable - I think run is over, MACD has already crossed zero line to the downside
[05:17:15 PM] mkain says: yen pairs have crossed the non-trade zone but i think that good setups will need more time
[05:17:34 PM] mkain says: just watching for now
[05:17:57 PM] Willem Kruger says: EY - a big red candle like this makes me careful
[05:19:06 PM] Willem Kruger says: EY - lets see what the MACD shows us
[05:20:03 PM] Willem Kruger says: EY - 159.15 is M3 line
[05:21:40 PM] Willem Kruger says: EY - rigth om my SMall resist line now
[05:26:43 PM] Willem Kruger says: EY - entered @ 159.06 short
[05:27:09 PM] Willem Kruger says: right on small resistance line and 10MA
[05:27:33 PM] cesare says: 159.01
[05:27:44 PM] Willem Kruger says: EY - BE already
[05:28:14 PM] mkain says: jeez my conection fell down ;(
[05:28:25 PM] mkain says: could not take it
[05:29:36 PM] Willem Kruger says: EY - close for 12pips profit
[05:29:49 PM] Willem Kruger says: Sorry Mkain, may be next one
[05:30:03 PM] mkain says: of course
[05:32:32 PM] Willem Kruger says: Cesare - did you get our profit?
[05:32:47 PM] cesare says: yes thank you
[05:32:50 PM] cesare says: 9 pips
[05:33:35 PM] Willem Kruger says: I like to take profit on the level of the previous low - 158.83
[05:34:13 PM] Willem Kruger says: EY - this is an example of a bearish 3 pattern
[05:34:31 PM] vietcuong_gf says: excuse me, I'm also watching this pair, but I'm wondering why you still short this pair though there was a previous steep pullback
[05:36:04 PM] Willem Kruger says: Vietc: EY - I saw the bounce off my small resistance line and 10MA
[05:36:15 PM] Sherzod says: hi all! Willem, if possible, could you post ur chart on ff with ur comments on it
[05:36:24 PM] Willem Kruger says: EY - now there is a great TC on MACD
[05:37:02 PM] Willem Kruger says: Sher - as usual, busy with it and my previous trade on Cable (just after news)
[05:37:57 PM] Sherzod says: thanks
[05:38:39 PM] mkain says: did you use 1 min entry on cable? Willem
[05:38:50 PM] Willem Kruger says: EY - must agree, my entry was a bit early and risky
[05:39:03 PM] Willem Kruger says: Mkain - no, only 5min.

My cable trade earlier today

My 3little sister trade mentioned on Skype:

[07:36:20 PM] Willem Kruger says: EUR - I hope some of you caught that beauty of a TC on MACD. Entry should have been opening of candle at 16H40 GMT for 10pips
[07:37:48 PM] Willem Kruger says: Cable - just missed a nice zero bounce (TC) on MACD for another 10pips

[08:24:20 PM] Willem Kruger says: EY - 3rd sister just formed
[08:36:05 PM] Willem Kruger says: EY - still in that trade, trading the 3little sisters. Worried about the previous double bottoms
[08:36:34 PM] Willem Kruger says: EY - only aim to take 10pips
[08:38:45 PM] Willem Kruger says: EY - took 8pips, thank you. 3 little sister
[08:39:40 PM] Willem Kruger says: EY - just didn't like the tails on the previous 3 candles - reason for exit

[08:41:43 PM] Willem Kruger says: Totally against the rules - 9trades, 6pos, 1neg, 2BE

You can still see the marks of my previous trade (small horizontal line after sister 2 which are my SL and TP marks left by the Swiss army EA)- bounce off the 50MA (relative common on EY).

I had three trades on Friday - all three positive, +10pips, +2pips & +5pips. The attached was my first trade - the 10pips profit.

As from this week, I'll be doing some serious trading. Untill now I've been playing around this 5min system, testing some options, and learning my 3 pairs. I am now satisfied with what I 've seen and done. It is now just more than 1 year that I've been using this system (demo and live). I've done some backtesting initially and I've spent hours over weekends doing some back testing (using the F12 key on keyboard). Since Feb 2007 I am using this system trading 4 pairs doing about 2-3 trades (average) a day. I think it is now time to move on for some serious trading using My Rules and the 5 appendices.

SO, as from next week I'll be:

1. Concentrating on high probability setups and ignore the other setups.

2. Trading with proper money and risk management (risk 1.5-2% per trade) - trading more with mini-lots and no more with micro-lots.

3. Seriously looking at and trading with Phillip's 4h MACD system after very encouraging support for Phillip himself. I am (hopefully) more familiar with the system now and will concentrate on the TC setups.

4. Trading another 15min system when I do have time to look at the markets.

Lately I am worried because it seems I am the only one posting charts and taking this system seriously (apart from a few other members and our group of few people on the Skype chat). MKain was the last member to post a chart 3 PAGES ago. I don't think it it healthy just for me to post charts - so I think I need to slow down and leave it to other members to post charts. So I think I need to give somebody else a change to make this system his/her own. I think it was lecturer in me that keeps me posting charts - also the unselfish support from Phillip (I just wanted to share with everybody what Phillip is/was sharing with me).

I just want to thank Phillip for all his efforts and continuous support with this system. Without him, I would have left this system ages ago.

But just to show you what can be achieved if a system is simple enough, one believes in it and study it for more than 1 year to get familiar with it. One cannot expect to use a new system succesfully within 1 week of using it. It is like studying at a college/university - it takes time with trail and error.

Good luck to everybody and many more pips to come.

Hi Willem
I have been using the system constantly too, I did not have a losing trade last week, my percentage of pips was not high but I maybe trade slightly differently, I check several indications not indicators before I pull the trigger, the 21ema has to be in the 1.0/-1.0 or above or below, I have a chart full of fibos and pivots, crucial I believe, I like the rsi to be above or below 50, I am in this to make money not make trades, hope you understand the context of that statement. Alot of my trades last week were 1-5 pip winners but that is where the psychology comes in, I trade to win, I know it is part of the game to lose sometimes but I am trying to trade to win all the time even just 1-5 pips, I am getting the set-up better, The trend, the trade, the win
respect
Tom(uk)

I just came back to trade since last Thursday, I was broken-hearted () so I did not feel well enough for about 2 weeks, I hope to post more trades next week.
P.S:Hi Tom,dispite the question was to Willem I can give some comments.
The 21 EMA of SMA angle must be above 1.0 or below -1.0 (1.5 and -1.5 for yen pairs) for long or short respectively according to Willem's rules, but some in thead don't use such rule (for example Xaron) try to find what works for you.
About my personal experience I used to have many indicators but now I just use SMA angle, MACD and pivots, simplier it's better in my opinion.

Hi Tom

Very good approach you do have and I fully understand you. If you get a good entry with this system, it would be possible to exit BE or even a few pips if you see the market is turning against you. That is why my other two trades on Friday had a few pips profit. No problem with that.

Just remember to exit with a few pips loss if you see the market won't give you a BE exit. That is the problem I do have lately and one aspect I was playing around with - let my losssers run to see what is going to happen. But this is now all over - I've seen what I want to see.

See you on the Skype chat next week.

Thanks Mkain
Yes me too really, I try and keep it simple, I think we underestimate pivots and fibos, they are the most important indicator on my charts, the 21ema has to be pointing in the trend direction for me, eg if the 21ema is in the 1.0 zone but pointing down, i wont take a trend.
Tom(uk)

Big respect to you my friend, you are an example to us all, the way you have stuck with, persevered and learnt this system through and through you deserve all the wealth it brings you, Iam sticking with the principle of it too, its a damn good system and common sense too and i like the aspect of patience it brings with it
Tom(uk)

Hi Mkain

I had a run of bad trades in the past and after that I gave myself a few days off. The few days off has done wonders to me and when I did come back, it is very interesting how clearly you can see the setups and signals.

Always good to take a few days off if you don't feel well - physical or emosional.

Also see you next week on the Skype chat.

I would like to make another point about ema's, I have read many threads on this forum and have been quite amazed at the different sets of ema's that people use from, 5, 13, 10, 21 etc up to 50, 60, 200, quite amazing I think it shows that there is not a set, set of ema's to use, any body else have any thoughts on this?
Tom(uk)

For me moving averages is just a way of a benchmark. It is like if you are on see and there is no fixed point you dont really know in what direction and with what speed are the boat moving. The MA just provide that fixed point you can monitor price action and movement around and when it visit that MA what has history price movement shown around that MA. That is where the 21ema to me is the heart of the market in any timeframe.
Phillip

Yes Phil, I agree, my charts now have the following:
50sma
21ema
10ema
Fibos and pivots (v. important)
21 Rsi
21ema on a smangle
I have separate charts with 1h and again the 21 rsi, waiting for it to move above or below 50
and 21 and 8 ema for directional crossover

I wait for the smaangle to be above or below 1.0 or -1.0. and heading in that direction not within the range and turning round
I need all indications to match up before entering a trade, my exits are a mental exit as I do not like using stops, my psychological fear and dislike of stop hunting brokers.
Mental discipline is of paramount importance trading like this but I dont like to lose and to me it is not about pips its about money.
I have made mistakes in the past where I have been up a few pips (money) and greed has left me losing.
I now get more satisfaction out of beating the brokers for 5 pips (money) rather than losing to the brokers for 1-2 pips (money)
GIVE THEM NOTHING
Respect
Tom(uk)

Sorry but it is me once again with something I saw today again and I want to share with people following this system.

It is what I would like to call the "small intra-day movement". My chat on Skype about it:

[05:36:16 PM] Willem Kruger says: EUR - this setup since around 11:35 GMT to 15:00GMT is typical on what I called a small intra-day movement. I've seen this several times on my 3 pairs. I'll post it on ff with explanation

[05:46:21 PM] mkain says: cool
[05:46:25 PM] mkain says: it's other pattern?

[05:48:40 PM] Willem Kruger says: No, not really. Just something I saw during this past year. Got burned several times trying to take the second signal. It will only give one signal before moving back to the original level. In a trending market, it will move on and give another 2-3 signals. But today was typical.

See my comments on the charts and be on the lookout for similiar patterns. If the pullback is flat like today, you can expect a bounce off the 10MA.

It is just that I got burned several times (before Phillip introduced the TC pattern on MACD) trying to trade the second pullback and signal. I was very frustated but now I know it will only give 1 signal before breaking the small resis/supp lines and 21MA on it way back. There is usually is pullback to the original level or to the 50MA (with a bounce off it).

It usually occurs during the same time frame.

I hope it make sense.

The reasons why I didn't take the setup - not the typical ascending triangle setup. I like to see the pressure coming from below pushing the price upwards towards a resistance level without double tops being formed.

Just another example of the small intra-day movement (SID MOV) - the same as the one in post # 3098. Just look at the time in GMT.

One again the SID MOV gave one signal before returning back upwards.

Just want to share it with you - be careful not to take every pullback/setup.