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5Min Intraday System

  • #261
  • Jan 20, 2007 9:16pm Jan 20, 2007 9:16pm
Hi All
You can also draw the angle degree using Trendline by Angle, just go to menu "Insert - Line - Trendline by Angle. Dont use RAY on Parameter.

Regards
Attached Image
  • #262
  • Jan 20, 2007 10:40pm Jan 20, 2007 10:40pm
Hey Phil,

I remember glancing at your system earlier and blowing it off like it was nothing without looking into it . Given the popularity it has had lately, I finally sat and looked at it. Thanks for sharing it! I'm looking at some backtesting results, and it seems to work quite well. I am noticing that it trades better when ALL SMA's and EMA's are above 20 degrees. Not sure if this was mentioned before, but it seems to have a high ratio of success. Anyway, this was just the short term method I was looking for, and I look forward to trying it!

Cheers,
Kevin
  • #263
  • Jan 21, 2007 2:46am Jan 21, 2007 2:46am
I am so glad to see the enthusiasm people have for this system Good job, Phill!
  • #264
  • Jan 21, 2007 6:03am Jan 21, 2007 6:03am
Quoting kermut
Firstly,

Thank you to Phil for sharing the strategy. Though the concept is not a new one, but defining the parameters is a big help. Also, his willingness to help newbies, answer questions, clarify uncertainties, is amazing (a quality of many ppl on this forum, which is what makes this place fantastic).

A big thank you to dariuske. You've made the decision process a lot simpler with this system.

My main point of this post is to bring some points to the attention of recent members of this forum (recent = less than 6 mths). I know not everyone joining the forum reads every single sticky post on the different categorie. When I joined this forum, people like James, Diallist, MB, Scott, Fiji, used to make a lot more posts than they do now. I learnt a lot from them. One thing that has always stuck in my head, was the concept of "A" grade trades. Basically meaning, trades with the highest possibility of success. As a beginner, iti s very easy to get tempted to over trade, go for big winners etc. They re-inforced the concept of not being necessary to make a trade just because you have not made a trade today/yesterday etc. Wait for the "A" grade trade, and make them. There are plenty of these happening every day on so many different pairs etc. The essence is patience, and Phill's system if anything, really teaches you to be patient.

It is quite possible to make a money management plan based on A, B, C grade trades.

Be patient, wait for the A grade trade, and then implement your strategy. You can't go wrong.

Cheers,
K.

Thank you for this post. That is what I hope this 5 Min strategy will establish in every person when trading it. To wait for the right (high probability) setup and not trade because I am all pumped it. If you can master this concept and start trading longer time frames with the same mental attitude you will be successfull.

"The facts are in front of me on the screen therefore I will do this and that." If you can start to act upon this you will also be successfull.
  • #265
  • Jan 21, 2007 6:05am Jan 21, 2007 6:05am
Quoting kharvell
Hey Phil,

I remember glancing at your system earlier and blowing it off like it was nothing without looking into it . Given the popularity it has had lately, I finally sat and looked at it. Thanks for sharing it! I'm looking at some backtesting results, and it seems to work quite well. I am noticing that it trades better when ALL SMA's and EMA's are above 20 degrees. Not sure if this was mentioned before, but it seems to have a high ratio of success. Anyway, this was just the short term method I was looking for, and I look forward to trying it!

Cheers,
Kevin
Thanx
Start to know and recognize the right setup and you will have 80% success.
  • #266
  • Jan 21, 2007 12:56pm Jan 21, 2007 12:56pm
hi again guys

i know im a newbie and you have all moved on but i really would like to get involved with the system and thread,
would one of you try and answer one or both of my questions 243 and 249,

i would really appreciate it,

cheers
gary
  • #267
  • Jan 21, 2007 1:36pm Jan 21, 2007 1:36pm
Quoting barney
hi ,
i have read all the previous pages on this system it sounds like what i need,
which is a simple profitable addition,
i am new to trading anything so i have purchased vantage point to help me look for signs of trends etc,
am i right in thinking that vp would not be much good for your system , has any one tried it with this system,
i have also read the vp thread (not much help)
thanks guys
gb
Sorry for not answering your post. I have no idea how vantage point works so I was hoping someone who do knows will answer your question. Can someone help please.
Thanx
  • #268
  • Jan 21, 2007 1:43pm Jan 21, 2007 1:43pm
Quoting barney
hi,
im just getting my head around the system,
i need to set up a chart ,
would someone tell me in simple terms how i do this?
i have found the metatrader demo account web site but cannot find some lines such as the 50 sma,
please help,
by the way does anyone know if i could use vantage point with this system?
gb

Just follow the pictures
Greetings
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  • #269
  • Jan 21, 2007 1:59pm Jan 21, 2007 1:59pm
I have the Phil NelSignal.zip on my platform.I adjusted the angle to .25. Should the count bars be left at 500 or should this be adjusted also? Thanks much to both of you.
  • #270
  • Jan 21, 2007 2:08pm Jan 21, 2007 2:08pm
Quoting Toothman
I have the Phil NelSignal.zip on my platform.I adjusted the angle to .25. Should the count bars be left at 500 or should this be adjusted also? Thanks much to both of you.
That number just shows how far back must the signals shows in history. Change that to 5000 and scroll back to see where it gave entries in the past. Then you can change it to 500 as it the takes only the last 500 bars in considiration.
  • #271
  • Jan 21, 2007 2:36pm Jan 21, 2007 2:36pm
Thanks Phillip and I really appreciate you sharing the system.
  • #272
  • Jan 21, 2007 6:56pm Jan 21, 2007 6:56pm
Phillip, thank you for sharing your system!

If anyone is interested, I've attached template with one indicator which could hopefully help with timing when exackly enter the trade.

Everything is the same, you follow Phillip's method as described. But once you are ready to pull the triger, then, in those seconds this template may help. Or may not - try it and see.

Indicator is G_MACD and it is coded to 1min interval. So while you are watching your 5 min chart, you can also with this indicator, placed on your 5 min chart, see underlying 1 min movements. Hence may be usefull.

I also added 4 times RSI with periods 2, 3, 4 and 5. It may help visually pinpoint the turn point.

Mario

P.s.
In case that this addition proves, not to be helpfull, I will denie that I've ever uploaded this template :
Attached File(s)
File Type: zip 5_Min_Zone_G_MACD_and_RSI.zip   6 KB | 1,891 downloads
  • #273
  • Jan 22, 2007 3:23am Jan 22, 2007 3:23am
Here is the mq4, as promised.

The ex4 file of the PhilNelSignals will expire on Feb. 1st.
Just save this one in your indicator folder and compile it.

Regards, Dariuske.

PS: Concerning the multiple sound alerts. (I just read that question.)

Once your attention is drawn to the screen by the alarm, you can put the UseAlert parameter to false if you don't want to here the sound anymore.

The reason I did it that way, is because you can always be distracted by something and not hear the first one. That would mean you could have missed a trade without knowing. Now you need to go to your screen and have a look.

So while in front of your screen and tracking what's going on, you can put it off. And once you think the action is over and you are leaving to do something else, you put the UseAlert parameter back to True to catch the next action.
Attached File(s)
File Type: mq4 PhilNelSignals.mq4   3 KB | 2,587 downloads
  • #274
  • Jan 22, 2007 9:02am Jan 22, 2007 9:02am
Quoting dariuske
Here is the mq4, as promised.

The ex4 file of the PhilNelSignals will expire on Feb. 1st.
Just save this one in your indicator folder and compile it.

Regards, Dariuske.

PS: Concerning the multiple sound alerts. (I just read that question.)

Once your attention is drawn to the screen by the alarm, you can put the UseAlert parameter to false if you don't want to here the sound anymore.

The reason I did it that way, is because you can always be distracted by something and not hear the first one. That would mean you could have missed a trade without knowing. Now you need to go to your screen and have a look.

So while in front of your screen and tracking what's going on, you can put it off. And once you think the action is over and you are leaving to do something else, you put the UseAlert parameter back to True to catch the next action.

Thanks again for your input so far
  • #275
  • Jan 22, 2007 9:20am Jan 22, 2007 9:20am
Phil, could you post todays trades pls.

thnks
  • #276
  • Jan 22, 2007 9:57am Jan 22, 2007 9:57am
Two trades on EurUsd so far. One win one loss.
Attached Images
  • #277
  • Jan 22, 2007 10:31am Jan 22, 2007 10:31am
Quoting Phillip Nel
Thanks again for your input so far
You are welcome.
  • #278
  • Jan 22, 2007 12:32pm Jan 22, 2007 12:32pm
we had long trade now, with loss?
  • #279
  • Jan 22, 2007 1:54pm Jan 22, 2007 1:54pm
Quoting peterdxb
we had long trade now, with loss?
Yes. And it looked like a good one. Ten down for the day. Part of the game.
  • #280
  • Jan 23, 2007 8:54am Jan 23, 2007 8:54am
Nice trades today Phil, both winners.
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