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5Min Intraday System

  • #3,361
  • Apr 1, 2008 11:02am Apr 1, 2008 11:02am
Thanks Willem...up to page 36 or so....
  • #3,362
  • Apr 1, 2008 11:16am Apr 1, 2008 11:16am
Look at the pulback on cable today - higher lows all the way. Stay away untill there are signs of an ellipse type of pullback with enough space to previous low.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,363
  • Apr 1, 2008 11:21am Apr 1, 2008 11:21am
Now here is an example of the formation of the ellipse type of pullback. Important is the smooth type of pullback with the roundish edge so that a ellipse could fit in the inside of pullback.

Please look at the next trade for another example
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,364
  • Apr 1, 2008 11:59am Apr 1, 2008 11:59am
The ellipse trade today - I hope it make sense. Just to show people what to look for.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 20080401 5min trade 2b jpeg.JPG Size: 96 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,365
  • Apr 1, 2008 12:04pm Apr 1, 2008 12:04pm
My EY trade today - even near the recent strong resistance (later it seems to be not that strong).
Attached Image (click to enlarge)
Click to Enlarge Name: 20080401 5min trade 3 jpeg.JPG Size: 117 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,366
  • Apr 1, 2008 12:34pm Apr 1, 2008 12:34pm
I see some very nice pips being made on the 5min. Well done.
  • #3,367
  • Apr 1, 2008 12:45pm Apr 1, 2008 12:45pm
Quoting Golfer
And that was my final trade for March 2008 - unbelievable month:

63 trades, 58 positive, 4 negative, 1 BE.
Total pips: 413
Average pips per trade: 7pips
Max pips for any trade: 20pips

Looking forward to April.
Excellent results!!! Congrats!!

looking forward to a great april trading with everyone on skype =D

-aaron
  • #3,368
  • Apr 1, 2008 1:39pm Apr 1, 2008 1:39pm
My first trade for Apr resulting in a loss of 15pips:

1. Too close to the resistance levels (eventually broken in NY sesion)

2. I didn't wait for pullback - just look at the importance to wait for pullback (could have exited BE or even for a small profit if I had waited), Wait, wait, wait, wait. If the pullback doesn't come and the price start moving, too bad. Wait for the next setup.

3. The Asian session - a session in which I don't like to trade and what I've seen is that one should only take the 1st or 2nd setup to be profitable.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080401 5min trade 1jpeg.JPG Size: 92 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,369
  • Apr 1, 2008 1:47pm Apr 1, 2008 1:47pm
Quoting Palmer
Guess who???

12 pips on the GBPJPY...first trade. I think I did this right....
Wow, Palmer, getting into this system with a trade on the GY - deep waters! Well done. I hope you've looked at this pair during the NY session, great setups - looks like the typical trending EY.

I hope you've added the MACD to your chart - very helpful.

Looking forward to see your 5min charts like you've supported Phillip's 4h thread.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,370
  • Apr 1, 2008 2:07pm Apr 1, 2008 2:07pm
Quoting Phillip Nel
I see some very nice pips being made on the 5min. Well done.
Philip, thanks, the method is working great. At news time and in a very fast move, I go to one minute chart also.
total pips today: +18 (2 trades)
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Never Trade without a defined risk, never, never, never.
  • #3,371
  • Apr 1, 2008 6:04pm Apr 1, 2008 6:04pm
Quoting Golfer
Wow, Palmer, getting into this system with a trade on the GY - deep waters! Well done. I hope you've looked at this pair during the NY session, great setups - looks like the typical trending EY.

I hope you've added the MACD to your chart - very helpful.

Looking forward to see your 5min charts like you've supported Phillip's 4h thread.
My thoughts are that since the 4hr method has proved itself with it's simplicity and with the popularity of the 5min thread I'm hoping for the same success here as well.

I've played with the 5min GPPJPY a few times before, and yes that thing can be a wild ride. But, I saw the set-up and took it.

I really believe that Phillip holds the key to my future...back to page 36 to pick up where I left off.....
  • #3,372
  • Apr 1, 2008 9:27pm Apr 1, 2008 9:27pm
Hi everybody,

I´m new in this forum, I live in Brazil, I´ve been trading stocks for a few years, two months ago I meet FOREX, and I´m studing this, I have already discovered one important thing: My english became rusty .

I´ve been reading, (at least I can read) the posts. I think that is amazing strategy, I have added the MACDcoloredv102 in my charts as part of GOLFER rules, so I have three questions:

1 .Is that a newer version?

2. How should I setup this indicator?

3. Where can I read more about this indicator apllied in the 5 mim strategy?

Thanks for the spent time and effort. Sorry for the bad english, next will be better.


Suba
  • #3,373
  • Apr 1, 2008 9:46pm Apr 1, 2008 9:46pm
Quoting Suba
Hi everybody,

I´m new in this forum, I live in Brazil, I´ve been trading stocks for a few years, two months ago I meet FOREX, and I´m studing this, I have already discovered one important thing: My english became rusty .

I´ve been reading, (at least I can read) the posts. I think that is amazing strategy, I have added the MACDcoloredv102 in my charts as part of GOLFER rules, so I have three questions:

1 .Is that a newer version?
2. How should I setup this indicator?
3. Where can I read more about this indicator apllied in the 5 mim strategy?
Thanks for the spent time and effort. Sorry for the bad english, next will be better.
Suba
1. there is v103 and v104 in 4 hour stragety (MACD), but I think v102 is good enough, v103 and v104 add some alert on signals.
2. set it default, that is 5.13.1
3. on 5Min chart, Golfer's Appendices are ok,
if you have time, I think you should read 4 hour stragety (MACD),
http://forexfactory.com/showthread.php?t=14630
there are plenty materials there, and we all learn something there.

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #3,374
  • Apr 2, 2008 12:56am Apr 2, 2008 12:56am
Quoting Suba
Hi everybody,

I´m new in this forum, I live in Brazil, I´ve been trading stocks for a few years, two months ago I meet FOREX, and I´m studing this, I have already discovered one important thing: My english became rusty .

I´ve been reading, (at least I can read) the posts. I think that is amazing strategy, I have added the MACDcoloredv102 in my charts as part of GOLFER rules, so I have three questions:

1 .Is that a newer version?

2. How should I setup this indicator?

3. Where can I read more about this indicator apllied in the 5 mim strategy?

Thanks for the spent time and effort. Sorry for the bad english, next will be better.


Suba
Hi Suba

Just to agree with Dhalsim. The last page as indicated on my signature is the appendix of My Rules regarding the MACD signal and how to use it in the 5min system - just as for Phillip's 4h system. Look at the previous few posts of mine for an example of a smooth TC pattern.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,375
  • Apr 2, 2008 4:14am Apr 2, 2008 4:14am
My trades today. Reached my goal of 1% again, one trade is still open in EUR/JPY, with SL +11 pips.

EUR/JPY
#1: still open, will update later

http://www.xaron.net/dl/fx/2008/intr...jpy_020408.png

EUR/USD
#1: 60,000 units +10.6 pips; 40,000 units +1.0 pips; overall: +6.7 pips

http://www.xaron.net/dl/fx/2008/intr...usd_020408.png

GBP/USD
#1: BE +1 pip

http://www.xaron.net/dl/fx/2008/intr...usd_020408.png

USD/JPY
#1: 60,000 units +7.4 pips; 40,000 units +1.0 pips; overall: +4.8 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_020408.png

Regards - Xaron
  • #3,376
  • Apr 2, 2008 5:25am Apr 2, 2008 5:25am
Quoting Xaron
My trades today. Reached my goal of 1% again, one trade is still open in EUR/JPY, with SL +11 pips.

EUR/JPY
#1: still open, will update later

http://www.xaron.net/dl/fx/2008/intr...jpy_020408.png

EUR/USD
#1: 60,000 units +10.6 pips; 40,000 units +1.0 pips; overall: +6.7 pips

http://www.xaron.net/dl/fx/2008/intr...usd_020408.png

GBP/USD
#1: BE +1 pip

http://www.xaron.net/dl/fx/2008/intr...usd_020408.png

USD/JPY
#1: 60,000 units +7.4 pips; 40,000 units +1.0 pips; overall: +4.8 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_020408.png

Regards - Xaron
Hi Xaron

Great trades. Could you please explain your aim of 1% to us? Is it a $ value? My aim is in pips and currently I do aim for 50pips a week with this 5min system (even with my full time job - hard work after normal working hours to get to that aim).
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,377
  • Apr 2, 2008 5:38am Apr 2, 2008 5:38am
Quoting Golfer
Hi Xaron

Great trades. Could you please explain your aim of 1% to us? Is it a $ value? My aim is in pips and currently I do aim for 50pips a week with this 5min system (even with my full time job - hard work after normal working hours to get to that aim).
Thanks. Yes, it's a $ value, or better a € value. I try to achieve 1% of my balance every day...

Closed my EUR/JPY trade. I'm up more than 2% today now.

EUR/JPY
#1: 60,000 units +7.8pips; 40,000 units +51.4(!) pips; overall: +25.2 pips

http://www.xaron.net/dl/fx/2008/intr...y_020408_2.png

Regards - Xaron
  • #3,378
  • Apr 2, 2008 5:45am Apr 2, 2008 5:45am
BTW: I agree that it's hard to achieve after work (after London session). The late NY session is often very "slow"...

Regards - Xaron
  • #3,379
  • Apr 2, 2008 6:45am Apr 2, 2008 6:45am
thease are my three trades .2 usdcad today and one eurusd yesterday .i was looking to bigger TF and when i became sure the way is down i sold them
thx
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  • #3,380
  • Edited 9:49am Apr 2, 2008 7:18am | Edited 9:49am
My question is for the 5 min. Intraday strategy:

as a new trader, I really appreciate your trading strategy with
the pullback in the EMA(10) and EMA(21) but I have a few question:

1- What happen if the pullback is not a pullback but a reversal movement ?
How to detect it ?

2- If it is a pullback, when do you put your entry in the EMA(10)
and EMA(21). Is it preferable to wait for 1-2 Bars outside the zone for
confirmation ?

3- Do you trade breakout when EMA(21) and EMA(50) are flat ?

Thank you for your answer

RB
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