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5Min Intraday System

  • #3,381
  • Edited 8:03am Apr 2, 2008 7:50am | Edited 8:03am
Hey bshadroo!!!

Here's my 1minute POST news trade entry at the vertical white line for 8 heavy:

Went in with two, set the other at BE...

I trailed the second one just above the 21 and got stopped out with 8 for a total of 16.
Attached Image
  • #3,382
  • Apr 2, 2008 8:21am Apr 2, 2008 8:21am
Quoting Palmer
Hey bshadroo!!!

Here's my 1minute POST news trade entry at the vertical white line for 8 heavy:

Went in with two, set the other at BE...

I trailed the second one just above the 21 and got stopped out with 8 for a total of 16.
Hi Palmer

I took the 1st pullback for about 12pips and the second one (your trade) for about 5pips.

Well done - nice system!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,383
  • Apr 2, 2008 8:24am Apr 2, 2008 8:24am
I do not use MetaTrader and would like to recreate the SMAAngle indicator in the software that I have (ProRealTime).

If someone knows the components/settings that this indicator is made up of, I am sure I could recreate it.

Much appreciated.

CT
  • #3,384
  • Apr 2, 2008 8:35am Apr 2, 2008 8:35am
Quoting Golfer
Hi Palmer

I took the 1st pullback for about 12pips and the second one (your trade) for about 5pips.

Well done - nice system!
I had someone walk in the office during that time so I was pulled away. But, after going through the thread and seeing how Phillip mentioned trading on the 1min after the news this was more or less a study chart. But, a signal is a signal is a signal so I jumped in after the 'visit'.

I'm wondering, why are my 0.1 and -0.1 lines so close together? My settings or the SMA are 50,.15,2,0....hmmmm
  • #3,385
  • Apr 2, 2008 8:40am Apr 2, 2008 8:40am
Quoting Palmer
I had someone walk in the office during that time so I was pulled away. But, after going through the thread and seeing how Phillip mentioned trading on the 1min after the news this was more or less a study chart. But, a signal is a signal is a signal so I jumped in after the 'visit'.

I'm wondering, why are my 0.1 and -0.1 lines so close together? My settings or the SMA are 50,.15,2,0....hmmmm
Maybe because it's 1 min chart.
I don't use SMA angle in 1 min just the MA
  • #3,386
  • Apr 2, 2008 8:40am Apr 2, 2008 8:40am
Quoting Palmer
I had someone walk in the office during that time so I was pulled away. But, after going through the thread and seeing how Phillip mentioned trading on the 1min after the news this was more or less a study chart. But, a signal is a signal is a signal so I jumped in after the 'visit'.

I'm wondering, why are my 0.1 and -0.1 lines so close together? My settings or the SMA are 50,.15,2,0....hmmmm
Hi Pal

Don't worry about it, on the 1min chart the 0.1 (0.15 on EY) and -0.1 (-0.15 on EY) lines on the SMA gets very close to each other. So don't worry, on the one job. I don't even look at the SMA indicate when I trade the 1minute chart. Then it is all price movements and rhythm to me.

Edit 1: Tx Mkain, you beat me to it but we are talking the same language.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,387
  • Apr 2, 2008 12:25pm Apr 2, 2008 12:25pm
Hi Phillip, Golfer and All

New to the site but had a quick look at the system and it looks great! I am looking for an intraday system as I have been "trading" for 2 years and nevr really got started. I am now convinced that my head is ready and so is my account. I like the look of the system as one of my problems has been large stops which have made me nervous leading to no trading at all.

I guess that means I got the bit right about "no trading is better than being in the wrong one"

My questions are: Should I use the set up as originally posted or the modified ones posted by Golfer? If so, would it be possible to point me in the right direction for up to date info.

Secondly, what charts/software are people using as mine are quite expensive.

Cheers

Fernie
  • #3,388
  • Apr 2, 2008 1:13pm Apr 2, 2008 1:13pm
Hi Fernie

See my comments in your message:

Quoting Fernie
Hi Phillip, Golfer and All

New to the site but had a quick look at the system and it looks great! I am looking for an intraday system as I have been "trading" for 2 years and nevr really got started. I am now convinced that my head is ready and so is my account. I like the look of the system as one of my problems has been large stops which have made me nervous leading to no trading at all.

I guess that means I got the bit right about "no trading is better than being in the wrong one"

My questions are: Should I use the set up as originally posted or the modified ones posted by Golfer?

Look and try each rule described posted here and see what you feel comfortable with. The rules posted by Phillip are still the same and will stay the same. It is all about price movements around moving averages - what we call "Market Rhythm" I still follow the basic rules of Phillip as posted on page 1. I've tried to eliminate the bad trades by putting My Rules on paper and shared it with everybody (with the aim to improve it as I receive comments and gained experience).

If so, would it be possible to point me in the right direction for up to date info.

On my signature - the pages of my latest rules and appendices

Secondly, what charts/software are people using as mine are quite expensive.

Free MT4 platform from my broker - InterbankFX - so that you can put all the nice indicators and EAs on it.

Cheers

Fernie
1. See which pairs you feel comfortable with.

2. Then just start following them and read the chart - the relationship between the price/candles and the MA, SMAangle and MACD.

Later everything will fall into place - it took me more than 1 year of practising with this system up to now.

Good luck in finding your style of trading and please feel free to ask any questions. We are one happy family and are more than willing to assist.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,389
  • Apr 2, 2008 1:16pm Apr 2, 2008 1:16pm
Quoting Palmer
Hey bshadroo!!!

Here's my 1minute POST news trade entry at the vertical white line for 8 heavy:

Went in with two, set the other at BE...

I trailed the second one just above the 21 and got stopped out with 8 for a total of 16.
well ,i trade only 10k and i saved 22pips on eu from that trade.and waiting for NFP to enter with m1 chart
  • #3,390
  • Apr 2, 2008 1:47pm Apr 2, 2008 1:47pm
Two quick trade using the 10MA and pivot line as support as mentioned on Skype:

[07:30:24 PM] Willem Kruger says: EUR Lets see if that resistance can be broken
[07:34:36 PM] Willem Kruger says: Took 8pips on EUR
[07:35:30 PM] Willem Kruger says: Like the support found on pivo line and this late in the day' I'll take my profits

[07:36:21 PM] Willem Kruger says: James, sorry, I think EY is too far already, I stayed out
[07:38:41 PM] Willem Kruger says: EY - several lower highs now, warning!
[07:44:38 PM] Willem Kruger says: EUR - looks like very strong resist
[07:44:52 PM] Willem Kruger says: 1.5675 area

[07:48:05 PM] Willem Kruger says: James, don't you just love her (EY)?
[07:48:53 PM] Willem Kruger says: EUR - another bounce off the pivot line?
[08:00:05 PM] Willem Kruger says: EUR - another 5pips of the 10MA
[08:00:42 PM] Willem Kruger says: EUR - now waiting for the breakout
[08:01:40 PM] Willem Kruger says: Consolidation since that tail candle 17:05gmt

[08:03:48 PM] Willem Kruger says: EUR - isn't Phillip's system amazing
[08:03:56 PM] Willem Kruger says: or what?
[08:04:51 PM] Willem Kruger says: Just trust and trade what you see!!!!!

Specially for Mkain:
What do you think? Each entry right on the opening of the next candle? Seems to work. Lets see what is going to happen within the war zone when one is live.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080402 5min mk trades jpeg.JPG Size: 74 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,391
  • Apr 2, 2008 2:01pm Apr 2, 2008 2:01pm
This one is for the text books - I was following it but didn't enter because it is too late in the evening/afternoon for me.

This is a strong trend upwards - so this is a reliable signal. If it was a SID MOV, I would not even consider it.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080402 typical ascending triangle jpeg.JPG Size: 102 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,392
  • Apr 2, 2008 2:59pm Apr 2, 2008 2:59pm
Quoting Golfer
Hi Fernie

See my comments in your message:



1. See which pairs you feel comfortable with.

2. Then just start following them and read the chart - the relationship between the price/candles and the MA, SMAangle and MACD.

Later everything will fall into place - it took me more than 1 year of practising with this system up to now.

Good luck in finding your style of trading and please feel free to ask any questions. We are one happy family and are more than willing to assist.
Will be in touch
  • #3,393
  • Apr 2, 2008 6:25pm Apr 2, 2008 6:25pm
"Patience and discipline: My Rules & Appendices for Phillip's 5min system - page 156 & 206! "

Hi Willem
Page numbers vary depending on your personal FF setup. Can you tell me the post numbers '#123' etc. They are fixed regardless of settings (I hope)

R
  • #3,394
  • Apr 2, 2008 6:36pm Apr 2, 2008 6:36pm
Quoting rorieu
"Patience and discipline: My for Phillip's 5min system - page 156 & 206! "

Hi Willem
Page numbers vary depending on your personal FF setup. Can you tell me the post numbers '#123' etc. They are fixed regardless of settings (I hope)

R
I put together all Golfer's Rules & Appendices and other good document links here
http://www.forexfactory.com/showpost.php?p=1926152&postcount=3308
I hope it helps.
  • #3,395
  • Apr 2, 2008 8:23pm Apr 2, 2008 8:23pm
I could not close 50% at TP1 because not familiar with the trading platform,
and I got out at breakeven.
Attached Image (click to enlarge)
Click to Enlarge Name: 08402eurusd1.gif Size: 19 KB
Success is the small sum of efforts, repeated day in and day out.
  • #3,396
  • Apr 3, 2008 5:38am Apr 3, 2008 5:38am
Quoting rorieu
"Patience and discipline: My Rules & Appendices for Phillip's 5min system - page 156 & 206! "

Hi Willem
Page numbers vary depending on your personal FF setup. Can you tell me the post numbers '#123' etc. They are fixed regardless of settings (I hope)

R
Hi R

Thanks for the info - see Mkain's message and I hope it helps
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,397
  • Apr 3, 2008 6:37am Apr 3, 2008 6:37am
Phew... hard day...

I had a big loss first but managed to recover it to create my 1% gain for the day.

EUR/JPY
#1: Long at 160.917 with 100,000 units: -30.0 pips
#2: Smooth pullback!
Short at 160.192 with 100,000 units
Partially closed with 60,000 units at 160.042: +15.0 pips
Reentry at 159.860 with 50,000 units
Closed all 90,000 units at 159.600: +40.8 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_030408.png

EUR/USD
#1: Rules violated! Bad trade, don't do this at home!
Long at 1.56479 with 100,000 units: -18.7 pips
#2: Entry in the war zone
Short at 1.56270 with 100,000 units
Partially closed with 60,000 units at 1.56178: +9.2 pips
Remaining 40,000 units at BE: +1.0 pips
#3: What a beauty! But Trichet speach ahead made me nervous.
Short at 1.55713 with 100,000 units
Stopped out at BE: +1.0 pips
#4: Reentry in the war zone
Short at 1.55590 with 50,000 units
Closed at 1.55520: +7.0 pips

http://www.xaron.net/dl/fx/2008/intr...usd_030408.png

GBP/USD
#1: Entry near the war zone
Short at 1.98045 with 100,000 units
Partially closed with 60,000 units at 1.97942: +10.3 pips
Remaining 40,000 units at BE: +1.0 pips

http://www.xaron.net/dl/fx/2008/intr...usd_030408.png

USD/JPY
#1: Entry within the war zone
Long at 102.820 with 100,000 units
Partially closed with 60,000 units at 102.875: +5.5 pips
Remaining 40,000 units at BE: +1.0 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_030408.png

Regards - Xaron
  • #3,398
  • Apr 3, 2008 7:56am Apr 3, 2008 7:56am
First of all, thanks again to Phillip for his contribution here at the FF. Everything is right here period.

Golfer: thanks for all of the charts and notes per trade. I'm sure your fingers get tired of typing as mine do sometimes over at the 4hr thread I'm up to page 139, almost there and have made about 40 pips in 4 or 5 trades, all positive. What's cool is that I've made the trades while reviewing the thread, 'hands on learning'.

FWIW: I use ODL securities and their spreads are 2 on all the majors, including the cable.
  • #3,399
  • Apr 3, 2008 8:01am Apr 3, 2008 8:01am
It seems this indicator works in 1 min too...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart.gif Size: 14 KB
Click to Enlarge Name: chart2.gif Size: 11 KB
  • #3,400
  • Edited 8:33am Apr 3, 2008 8:09am | Edited 8:33am
EUR/USD
#1: Rules violated! Bad trade, don't do this at home!
Long at 1.56479 with 100,000 units: -18.7 pips
#2: Entry in the war zone
Short at 1.56270 with 100,000 units
Partially closed with 60,000 units at 1.56178: +9.2 pips
Remaining 40,000 units at BE: +1.0 pips
#3: What a beauty! But Trichet speach ahead made me nervous.
Short at 1.55713 with 100,000 units
Stopped out at BE: +1.0 pips
#4: Reentry in the war zone
Short at 1.55590 with 50,000 units
Closed at 1.55520: +7.0 pips


Hi X


I had the same problem - mine was worste = CT (Counter trend) trades. Looks so inviting and so eay to take. Much easier that the TC (trend continuation) trade. But boy, do they hurt. Learned my lession over and over again. Even if one is using any scalping system - please try and scalping in the direction of the current trend. Meaning only take the trades that are in line with the current trend (you need to decide which time frame will determine your "current trend")
Willem Forex recipe for success = Patience, discipline & hard work.
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