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5Min Intraday System

  • #3,181
  • Mar 17, 2008 3:48pm Mar 17, 2008 3:48pm
System reminds me of a Jon Levine system. His system, though, does have strict rules and uses 21EMA, 75SMA and 200SMA plus Fibonacci levels. It produces excellent results when you get the rules down and follow them every time. Uses 5 min chart. You can google for "jon levine" or "ffe" or find it on bittorrent sites. I did pay for it, but can share for free, just pm me.
  • #3,182
  • Mar 18, 2008 3:30am Mar 18, 2008 3:30am
dear willem
according to our chat on skype,i dowloaded the swiss army EA but it doesnt work ,would u please post the EA wich u r working with now or email me :[email protected]?
and does it work when the computer is off?
thx
  • #3,183
  • Mar 18, 2008 4:04am Mar 18, 2008 4:04am
I saw 2 triangles today in e/j, I took the second one and I just could get + 2 pips because I closed after big down move.
Attached Image (click to enlarge)
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  • #3,184
  • Mar 18, 2008 4:45am Mar 18, 2008 4:45am
Quoting bshadroo
dear willem
according to our chat on skype,i dowloaded the swiss army EA but it doesnt work ,would u please post the EA wich u r working with now or email me :[email protected]?
and does it work when the computer is off?
thx
Hi Bs

That is the EA I am using but like I said it is very complicated. It took me a few days for get it working - there are a few combinations of actions which needed to be activated before it will work. You need to understand the functions of it. I read the documents several times before I got the hand of it and I even visited the website (not forex factory but another forex website) to get more information. I just know enough to help myself - how to set it. I can help you via Skype IM with it. Maybe later today when I am back home.

Also I am not sure if it works when your PC is off. You can contact for broker for more information. I've never used it when my PC was switched off.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,185
  • Mar 18, 2008 4:49am Mar 18, 2008 4:49am
Quoting mkain
I saw 2 triangles today in e/j, I took the second one and I just could get + 2 pips because I closed after big down move.
Hi Mk

I also followed the first triangle and everything was ready for me to pull the trigger. But I just didn't like the M3 line at 153.71 which formed the resistance line of the triangle. I don't really like pivot lines to form the support of resistance lines of my triangles - I am careful before enter such a setup.

So I didn't enter and missed out on that one. But do you see the worry in my eyes? Never. Wait for the next one.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,186
  • Mar 18, 2008 4:51am Mar 18, 2008 4:51am
hiii
i am very much new in the forex market. i am going to open ac with the fxsol.com. can i use the SMA, EMA, MACD in their paltform??? or plz refer me any good brokers where i can apply this one???
  • #3,187
  • Mar 18, 2008 5:18am Mar 18, 2008 5:18am
Quoting sandip_met
hiii
i am very much new in the forex market. i am going to open ac with the fxsol.com. can i use the SMA, EMA, MACD in their paltform??? or plz refer me any good brokers where i can apply this one???
Hi Sandip

I did use a demo account of FxSol and I didn't have problems with them. Unfortunatley it is not a metatrader 4 (MT4) trading platform, so you won't be able to use the SMAangle indicator. It can only be used on MT4 platforms. that was why I decided to change to a broker with a MT4 platform - also able to use some EA on it.

What you can do is to open a account with FXSOL and a demo with another broker which has a MT4 platform. Just do your trades on FXSOL's platform and follow the markets on the MT4 platform.

I do have an mini live account with InterbankFX - no problems so far other the usual you'll find with any MT4 platforms.

Maybe somebody else can give another opinion or look for the broker forum on forex factory.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,188
  • Edited 6:25am Mar 18, 2008 5:41am | Edited 6:25am
I don't know FX sol platform, Golfer and I use metatrader for charts, you can download it here
http://www.metaquotes.net/
As all 5 min and 1 min charts are the same don't care about broker.
Download these indicators and save them in: C:\Programfiles\MetaTrader4\experts\indicators
And template (optonal) in:
C:\Programfiles\MetaTrader 4\templates
Just execute the template and change the SMA levels according to pairs if you follow Golfer settings.
Attached File(s)
File Type: mq4 MACDcoloredv102.mq4   6 KB | 712 downloads
File Type: ex4 MACDcoloredv102.ex4   7 KB | 669 downloads
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 751 downloads
File Type: ex4 MultiplePivotsV2.ex4   24 KB | 612 downloads
File Type: ex4 SMAAngle.ex4   3 KB | 791 downloads
File Type: tpl 5 min and 1 min intraday.tpl   8 KB | 917 downloads
  • #3,189
  • Mar 18, 2008 5:41am Mar 18, 2008 5:41am
This has to be one of the best scalping strategies I have seen in this forum.

Is everyone still following the original system or has it been modified?

Thanks
  • #3,190
  • Mar 18, 2008 5:59am Mar 18, 2008 5:59am
Quoting Dazfx
This has to be one of the best scalping strategies I have seen in this forum.

Is everyone still following the original system or has it been modified?

Thanks
The main points of this system are still the same, I would say that it has had an evolution throughout the thread with other tools (SMA angle, Pivots, chart patterns etc).
  • #3,191
  • Mar 18, 2008 6:09am Mar 18, 2008 6:09am
Quoting Dazfx
This has to be one of the best scalping strategies I have seen in this forum.

Is everyone still following the original system or has it been modified?

Thanks
Hi Dazfx

That is why I've change my signature - My Rules and appendices as stipulated. I developed it in collaboration with Phillip.

Best scalping? Well, judge for yourself - 24 trade so far this month, 23 positive, 1 breakeven. 189pips profit. Good enough for me but be warned: it took me more than 1 year to learn the system (and I am still learning).

It looks easy until you start trading this system live while the charts/setups are being formed. Then it is another ball game. You just need to get use to the price movements and the setups as they are developing.

THE MAIN SECRET BEHIND THIS METHOD:

1. DON'T TAKE VERY PULLBACK AND SETUP
2. ONLY TAKE THE HIGH PROBABILITY SETUPS.

Look at the post of Mkain where he explained the 2 triangles on EY (post #3183 above). Typical example of this system where you evaluate the setup and just something tells you: "Don't take this setup". That something could be a fib or pivot line (in my case it was the M3 line that was in the way), a specific candle or the pullback itself. I usually look for that something and if it is not there, i'll go for it.

Go for it and give us your opinion.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,192
  • Mar 18, 2008 7:38am Mar 18, 2008 7:38am
Hi

I'm still ploughing through the posts on this thread- its excellent! having spent time on Phillip's 4 Hour strategy as well which I have started live trading

In terms of the inter relation between the two- they both rely on rhythm-does anyone use the inter relation of the MAs etc on the longer timeframes to help with the 5 minute and perhaps use an entry on the 5 minute to commence a longer running trade or do you all stick to more conservative Profit targets and the 5 hour timeframe as a standalone system?

Golfer- thats a really impressive return!

regards,

Mark
  • #3,193
  • Mar 18, 2008 8:50am Mar 18, 2008 8:50am
I was busy with my fav one (e/j) but cable gave 2 great patterns.
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  • #3,194
  • Mar 18, 2008 9:52am Mar 18, 2008 9:52am
Quoting sandip_met
hiii
i am very much new in the forex market. i am going to open ac with the fxsol.com. can i use the SMA, EMA, MACD in their paltform??? or plz refer me any good brokers where i can apply this one???
Fxsol wide spreads becarefull pound 5 points , euro 3 points , oanda has better spreads
  • #3,195
  • Mar 18, 2008 11:19am Mar 18, 2008 11:19am
Quoting mark r
Hi

I'm still ploughing through the posts on this thread- its excellent! having spent time on Phillip's 4 Hour strategy as well which I have started live trading

In terms of the inter relation between the two- they both rely on rhythm-does anyone use the inter relation of the MAs etc on the longer timeframes to help with the 5 minute and perhaps use an entry on the 5 minute to commence a longer running trade or do you all stick to more conservative Profit targets and the 5 hour timeframe as a standalone system?

Golfer- thats a really impressive return!

regards,

Mark
Hi Mark

Thanks.

Yes, I do look at the 4h MACD rules and usually I am looking for setups in the direction of the 4h MACD rules. If you know the 4h MACD rules, you'll know what I am talking about. BUT, it is not always possible. Sometimes you do get a nice setup in the opposite direction of the 4h MACD rules (CT trade). I'll take it if it is the 1st of second pullback but I'll be very careful after that.

Also InterbankFX has a nice extra function identifying price/candle formation on various time frames (IBFX - PRS). I do have a daily, 4h and 15min search activated on that functions. This is very helpful. Also guide me in the direction of the trade. Also I use it to learn the formation of the various patterns.

That is basicially how I used longer time frames at the moment.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,196
  • Mar 18, 2008 3:25pm Mar 18, 2008 3:25pm
My two trades for today. The EUR trade I waited patiently for the pullback towards the 10MA (because it is fast speed market) and the TC on MACD. I watched the 1min chart after the interest rate but like I told Mkain, I just don't feel comfortable with 1min charts anymore.

Then as I went back to my chart after my chat with Mkain, I saw the TC on EY being formed and entered. I saw that there was enough room/space to the recent high for at least 10ips. About 15 sec later my TP was hit - a very quick 10pips.

This is just like living in a dream (like Palmer and that massive trade of his on the 4h system) - I just cannot believe myself if I look at my trade diary for this 5min system this month. I am afraid I'll wake up and my coffee will be cold.

I just cannot thank Phillip enough for his support, efforts and patience with me.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080318 5min trade 1.gif Size: 28 KB
Click to Enlarge Name: 20080318 5min trade 2.gif Size: 28 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,197
  • Edited 5:39am Mar 19, 2008 4:59am | Edited 5:39am
todays signal...

+ 10 pips on EUR\USD trade #1



edited: made one more trade at 10:30 GMT GBP\ USD
entery 2.0025 TP 15 pips ant SL 10 pips
hitted TP +15 pips ! Its great for one day ! +25 pips already. I saw more signals in the early morning but i didnt took because i had not time to moniotr them....so....
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gb.gif Size: 20 KB
  • #3,198
  • Mar 19, 2008 5:01am Mar 19, 2008 5:01am
Hey all, hope you're doing well? I still use this system but with wider stops (like Willem) and multiple entries. That way I have a very high success rate. Of course you have to be disciplined to take only the good setups.

Regards - Xaron
  • #3,199
  • Mar 19, 2008 5:06am Mar 19, 2008 5:06am
Quoting Xaron
Hey all, hope you're doing well? I still use this system but with wider stops (like Willem) and multiple entries. That way I have a very high success rate. Of course you have to be disciplined to take only the good setups.

Regards - Xaron

Could u share this way?
  • #3,200
  • Mar 19, 2008 5:21am Mar 19, 2008 5:21am
Sure, it's simple. The rules are the ones on page #1.

Changes:
Stop: 40 pips
TP: 10 pips
Entry #1 with 1 lot (mini, micro or whatever) between EMA 10 and 21 (as usual)
Entry #2 with 1 lot 20 pips below only if the tp wasn't reached with the first position!

Example:
Entry GBP/USD at 2.0000, SL: 1.9960, TP: 2.0010
If the price reaches 1.9980 buy another lot at 1.9980, SL: 1.9960.
You have now an average price of 1.9990. Set the tp for both positions at 2.0000, SL is at 1.9960.

There are cases, where the SL is hit. I know that the risk/reward ratio doesn't look good, but we play with probabilities. You have to choose good setups...

Of course you can use higher TPs or some kind of trailing stops. It's you choice.

Regards - Xaron
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