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5Min Intraday System

  • #161
  • Jan 14, 2007 9:54am Jan 14, 2007 9:54am
Hello,

thanks Phil for all, the system and the great help.

And thanks Dariuske for your Indicator.

I will test the indicator too with the angle at 0.25 you say.

Cheers
Mobsie
  • #162
  • Edited 4:06pm Jan 14, 2007 2:36pm | Edited 4:06pm
Trading this will be at your own risk. The idea is to have a plan and trade that plan making provision for all sorts of movements that might occur. As I intent to go long the Eur/Usd the probability is high that it might go south. So be aware.

As you can see we have a opnening up(widening) of the trendlines. Again to go long we have to go against the trend. I am going long because of support on the trendline and price level of 1.2900. 1.2900 was a very good level to have entered. I was unfortunately on the road on Friday and did not make any entry. I think for the existing trend to continue downwards we are going to see a test of the 365EMA at around 1.3000 with a possible downturn.

At 1.29000 entry long the trendline is away down about 40pips. To be save for a retest of the trendline a stoploss of at least 50-60 pips will be reqiured. I will rather wait for the price to come down to somewhere around 1.2880 to enter.

The possibility that the price can go up without coming down a bit I will enter .2 lots at current, .2 lots at 1.2900 and .6 lots at 1.2880 or less towards the trendline. This will keep me in the market with at least .2 lots should it continue upwards.
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  • #163
  • Jan 14, 2007 3:03pm Jan 14, 2007 3:03pm
Area A will be my entry field as explained in the earlier post. If I get all entries this is my plan. My first barrier will be at B as you can see it tested it several times and pulled back. This is where I will take profit of .4 lots and set remaining at breakeven. If this barrier is overcome I will take profit of another .3 lots at C as the 365EMA might be a strong resistance setting stoploss of remainder at 1.2960.

If the 365EMA is overcome the market usually turns back to test it before moving on and at this point I will add 0.3 lots again.

At D I will take profit of 0.3 lots and and set stoploss to 1.3050 for remainder.

If D is overcome I will take 50% profit of the remainder at E and let the rest run till F with a trailing stop.

If a turnaround comes at C (365EMA) I will close all. At that point the candles (and or patterns)forming will determine the time of closure.

I hope it worked out as planned.
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  • #164
  • Jan 14, 2007 10:16pm Jan 14, 2007 10:16pm
Got filled with only .2 lots. Point B is about to be reached. As it is a possible pullback area I will take .2 profit at 1.2940. When it pull back I will enter again around 1.2900 and below.
  • #165
  • Jan 15, 2007 3:46pm Jan 15, 2007 3:46pm
Phillip,
I like this method it seems to be very simple & very effective for consistent profit. I plan on forward testing this on the EUR/USD, then go live once I feel I got the hang of it. Not only that, I was wondering how this might work on Futures too. I have gone back & done a bit of preliminary back testing, and this seems to work equally well on the Russell 2000 E-Mini Future (ER2H07). I have been trading this for a while, but my method does not work well after the first hour or 2. This method seems to be able to catch the longer parts of the daily trend quite well. So I should be able to add this to my Russell trading too.

Once again, THANKS!!! for sharing with us.

Also, just a suggestion, you should probably open a separate thread on your 4 hour system. You would probably get a lot more participation if the thread title matched the topic. I bet there are a lot of 4-hour traders that would love to discuss your 4-hour system if they saw a thread dedicated to it. Otherwise the 2 systems get confused in one thread, and that probably deters some of the participation.

Thanks
  • #166
  • Jan 15, 2007 4:53pm Jan 15, 2007 4:53pm
Phillips, thanks for you system and teaching.

Just would like to ask you that what do you think about what I did today. I entered short, couse I think we got a short signal. But as I watched price movement, the price kind of stopped moving and was just hoovering around 2 hours. So I desided to take a loss of -1.5 pips. I was thinking that becouse of the price action it is about 50% it will go up/down, so I did not want to take a risk and wait it to go up (sl at -7.5). And soon after that it did go up (maybe hit my sl had I continued .. not sure though).

So I thought, that lets take this small -1.5 loss... if the price starts to go down again, I will wait for another signal to enter - new signals will always come.

Was this thinking right? Did I do the right desicion? thanks.

See the trade below.
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  • #167
  • Jan 15, 2007 7:49pm Jan 15, 2007 7:49pm
Thanks to dariuske for the Indicators. The angle one works perfectly and saves so much time. Brilliant.
I've no idea what the other one does (so far nothing on my charts) so I'd appreciate a quick tutorial please?
I agree with Grasshopper re the 4 hour stuff. It suddenly appeared the other day without explanation and this is a 5min method discussion? Perhaps Phil, you can explain the details of it but another dedicated thread would make sense I think.

R
  • #168
  • Jan 15, 2007 10:14pm Jan 15, 2007 10:14pm
Quoting jpk
Phillips, thanks for you system and teaching.

Just would like to ask you that what do you think about what I did today. I entered short, couse I think we got a short signal. But as I watched price movement, the price kind of stopped moving and was just hoovering around 2 hours. So I desided to take a loss of -1.5 pips. I was thinking that becouse of the price action it is about 50% it will go up/down, so I did not want to take a risk and wait it to go up (sl at -7.5). And soon after that it did go up (maybe hit my sl had I continued .. not sure though).

So I thought, that lets take this small -1.5 loss... if the price starts to go down again, I will wait for another signal to enter - new signals will always come.

Was this thinking right? Did I do the right desicion? thanks.

See the trade below.
Hi,

I'm not sure how phillip will comment on it but to me the price was not good for shorting. The hourly range is small and there is no volatility on the longer term charts, which indicates low participation. Thats why u see an erratic price level on the 5min of eur, no real direction. The spread could possibly kill ur trade if u do it on the cable.

regards,
jest
  • #169
  • Jan 15, 2007 10:30pm Jan 15, 2007 10:30pm
Quoting jest1081
Hi,

I'm not sure how phillip will comment on it but to me the price was not good for shorting. The hourly range is small and there is no volatility on the longer term charts, which indicates low participation. Thats why u see an erratic price level on the 5min of eur, no real direction. The spread could possibly kill ur trade if u do it on the cable.

regards,
jest
I agree. As the markets were still today. It was however a nice setup. I was watching it but did decide earkier that I am not going to enter today unless the market runs. The way you minimized your loss was great. When the price did not act fast and you got out was very good. The loss was also minimum. Great job
  • #170
  • Jan 15, 2007 10:33pm Jan 15, 2007 10:33pm
I have this 5min strategy as well as the 4hour and then a 1hour which I thoufht to share as one unit. It however looks like I should sepperate it. Nobody commenting on the 4hour.Thanks for the feedback.
  • #171
  • Jan 16, 2007 3:15am Jan 16, 2007 3:15am
Quoting rorieu
Thanks to dariuske for the Indicators. The angle one works perfectly and saves so much time. Brilliant.
I've no idea what the other one does (so far nothing on my charts) so I'd appreciate a quick tutorial please?
R
The PhilNellSignal indicator will give you a visual and audio signal (on 5Min.) when all trading conditions are met. (When you see nothing, change countbars to 5000 for example.)
  • #172
  • Jan 16, 2007 7:29am Jan 16, 2007 7:29am
Quoting Phillip Nel
I have this 5min strategy as well as the 4hour and then a 1hour which I thoufht to share as one unit. It however looks like I should sepperate it. Nobody commenting on the 4hour.Thanks for the feedback.
I think people subscribed to this thread are interested mostly on the 5 min strategy.

You could start another thread for the 1h or 4h and everything will be kept in place
  • #173
  • Jan 16, 2007 9:21am Jan 16, 2007 9:21am
Quoting stefant
I think people subscribed to this thread are interested mostly on the 5 min strategy.

You could start another thread for the 1h or 4h and everything will be kept in place
Thanks. Will do so.
  • #174
  • Jan 16, 2007 9:38am Jan 16, 2007 9:38am
Hope you took this one.
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  • #175
  • Jan 16, 2007 10:02am Jan 16, 2007 10:02am
Yet another one. At worst breakeven
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  • #176
  • Jan 16, 2007 10:18am Jan 16, 2007 10:18am
4 Trades for the day. No1 was a lost -9pips. No2 was breakeven. No3 was +10 pips and No4 was breakeven again for me. I only partisipate in No 3 and 4. No 3 was +10pips and No4 breakeven so +10pips for me.
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  • #177
  • Jan 16, 2007 10:57am Jan 16, 2007 10:57am
Hi Philip,

can you explain why there is no trade in the red marked zone? Ok, it went out of the zone but that can nobody knows before
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  • #178
  • Jan 16, 2007 11:43am Jan 16, 2007 11:43am
Would you guys be interested in having a chat room where 5min strategy traders can login and exchange opinions, trade ideas, views on the current market situation etc.?

Phil, what do you say?
  • #179
  • Edited 12:19pm Jan 16, 2007 12:06pm | Edited 12:19pm
Quoting Jagg
Hi Philip,

can you explain why there is no trade in the red marked zone? Ok, it went out of the zone but that can nobody knows before
The graph has shown a full days data just to show the deals for the day. That makes the angle of the 50SMA looks OK because it is all squashed in. Will post picture as I saw it. The 50SMA was yet to flat at that stage for me. It is however a very close border case. I won't say you were wrong if you took it. I just like the move to show itself through the 50SMA.

I also used the indicator that was provided for us just to show it works. I personally would not got involved in No1 and No2. Too much movement below the 21EMA.
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  • #180
  • Jan 16, 2007 12:14pm Jan 16, 2007 12:14pm
Quoting stefant
Would you guys be interested in having a chat room where 5min strategy traders can login and exchange opinions, trade ideas, views on the current market situation etc.?

Phil, what do you say?

I surely won't mind. I just have very limmited internet access during working hours. GMT 07:00 to 17:00. Thus this 5Min strategy to give me an oppertunity in our afternoon to get a deal or two as well as the 4Hour strategy longer term that gives me a oppertunity to make decisions around support and resistance. If the move has already happened when I get home I use my 1Hour pullback strategy for that.

Bur when I'm avalable I will surely participate. Thanx
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