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5Min Intraday System

  • #3,461
  • Apr 7, 2008 7:54pm Apr 7, 2008 7:54pm
Xaron:

How do you play the close on the wrong side of the 21?
  • #3,462
  • Apr 8, 2008 1:28am Apr 8, 2008 1:28am
I don't care about it. I enter directly in the middle of the war zone and don't wait for the close of the candle. This might not work for everyone...

I get out if the candle closes on the opposite side of the SMA 50.

Regards - Xaron
  • #3,463
  • Apr 8, 2008 5:15am Apr 8, 2008 5:15am
Good morning. Got my 1% of balance today again.

Just a comment for the EUR/JPY and USD/JPY. I had some luck there to get out at BE. Why hadn't I closed the positions earlier? Because I looked at the 15m and both pairs stopped their up movement exactly at the 50% fib retracement.

EUR/JPY
#1:
Short at 160.699 with 100,000 units
Closed at 160.691: +0.8 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_080408.png

EUR/USD
#1: Entry at R1. The R1 was broken before and therefor a good support for a retracement
Long at 1.57570 with 100,000 units
Partially closed with 60,000 units at 1.57670: +10.0 pips
Remaining 40,000 units closed at BE: +1.0 pips

http://www.xaron.net/dl/fx/2008/intr...usd_080408.png

GBP/USD
#1: Entry in the war zone. The price already went a long way, so I didn't expect many pips.
Short at 1.97800 with 100,000 units
Partially closed with 60,000 units at 1.97680: +12.0 pips
Remaining 40,000 units closed at BE: +1.0 pips

http://www.xaron.net/dl/fx/2008/intr...usd_080408.png

USD/JPY
#1: I was already with about 9 pips in plus. I should had set the stop to BE at this point...
Short at 101.938 with 100,000 units
Closed at 101.938: +0.0 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_080408.png

Regards - Xaron
  • #3,464
  • Apr 8, 2008 9:11am Apr 8, 2008 9:11am
Xaron:

Are you following the SMA-Angle at all or just the 3ma's along with the pivots, s/r areas, and maybe the next higher timeframe?

Thanks
  • #3,465
  • Apr 8, 2008 9:14am Apr 8, 2008 9:14am
Just the 3 MA's, no other indicators.

Regards - Xaron
  • #3,466
  • Apr 8, 2008 9:39am Apr 8, 2008 9:39am
Quoting Xaron
Just the 3 MA's, no other indicators.

Regards - Xaron
I agree.

I removed my SMAA indicator months back because I was depending on it to help, but realized price action was my best indicator and the few MA's are good references.

Since January I have only used a few MA's to make all my trades and it has removed many bad calls and made my trading much more successful.

Cheers,

Ken
  • #3,467
  • Apr 8, 2008 10:13am Apr 8, 2008 10:13am
Xaron

Congratulations for the trades today, u r doing your job.

U r loking for 1% day on balance..u trade with all of our money each trade or u use any other money manegement?

I´ve 0,5% day as traget, and trade all my money in each trade do u think that is too risk?

thank´s for the advices.

Suba
  • #3,468
  • Apr 8, 2008 10:18am Apr 8, 2008 10:18am
Thanks. No, I don't trade with all of my money. My leverage is about 10:1 per trade. My risk up to 3% per trade. If I'd use 100:1 I'd make 10% per day. Just kidding, this would be too much for me.

Regards - Xaron
  • #3,469
  • Apr 8, 2008 11:38am Apr 8, 2008 11:38am
Written copy. See page 230, post 3436, for the mp3 and for the chart.
Attached File(s)
File Type: doc PhillipNel 5Min Summary.doc   12 KB | 723 downloads
  • #3,470
  • Apr 8, 2008 11:44am Apr 8, 2008 11:44am
Quoting OldDog
Written copy. See page 230, post 3436, for the mp3 and for the chart.
A big thanks, OldDog!
  • #3,471
  • Apr 8, 2008 12:05pm Apr 8, 2008 12:05pm
Quoting Xaron
Just the 3 MA's, no other indicators.

Regards - Xaron
I just love it - keep it as simple as possible!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,472
  • Apr 8, 2008 12:25pm Apr 8, 2008 12:25pm
Hi everyone,
I am a long time silent viewer of this thread along with Philip’s 4hr MACD strategy thread and I would like to say that indeed the work done in both threads is really awesome not only by Philip who is not only an outstanding trader but also an outstanding person, and also by most members participating actively and helping newcomers without ever complaining.

Here is an EA that I use and which I slightly modified to suit this system (can also be used for any system). This EA was made to reliably babysit manually entered orders and I think many traders will find it useful since it is fully feature packed and it can be customized in many ways to suit everyone’s needs. It can also be modified further if the need occurs.

The EA is absolutely free with no restrictions whatsoever, I attached a quick n’ dirty user’s guide here but I cannot attach the whole package so I uploaded it to rapidshare and here is the link where you can easily download it
http://rapidshare.com/files/10589438...mis_Sitter.zip

In order to not clutter the thread, you can ask any questions you might have about the EA and the settings, either by PM or by email ([email protected])
Yannis
Attached File(s)
File Type: pdf Artemis_Sitter.pdf   335 KB | 3,767 downloads
  • #3,473
  • Apr 8, 2008 12:51pm Apr 8, 2008 12:51pm
Quoting Golfer
I just love it - keep it as simple as possible!!
love it?
i did that sometimes but i was looking at bigger TF closly.if a new trader wanna do that it can be very risky
  • #3,474
  • Apr 8, 2008 2:23pm Apr 8, 2008 2:23pm
Quoting Yannis
Hi everyone,
I am a long time silent viewer of this thread along with Philip’s 4hr MACD strategy thread and I would like to say that indeed the work done in both threads is really awesome not only by Philip who is not only an outstanding trader but also an outstanding person, and also by most members participating actively and helping newcomers without ever complaining.

Here is an EA that I use and which I slightly modified to suit this system (can also be used for any system). This EA was made to reliably babysit manually entered orders and I think many traders will find it useful since it is fully feature packed and it can be customized in many ways to suit everyone’s needs. It can also be modified further if the need occurs.

The EA is absolutely free with no restrictions whatsoever, I attached a quick n’ dirty user’s guide here but I cannot attach the whole package so I uploaded it to rapidshare and here is the link where you can easily download it
http://rapidshare.com/files/10589438...mis_Sitter.zip

In order to not clutter the thread, you can ask any questions you might have about the EA and the settings, either by PM or by email ([email protected])
Yannis
can u or anybody can introduce me an EA with wich my trade can go to BE after some specified pips WHEN THE COMPUTER IS SWITCHED OFF?
i really need to this thing because of my work's condition
thx
  • #3,475
  • Apr 8, 2008 2:36pm Apr 8, 2008 2:36pm
My first trade today
Attached Image (click to enlarge)
Click to Enlarge Name: 20080408_5min_trade_1 jpeg.JPG Size: 93 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,476
  • Apr 8, 2008 2:37pm Apr 8, 2008 2:37pm
Quoting bshadroo
can u or anybody can introduce me an EA with wich my trade can go to BE after some specified pips WHEN THE COMPUTER IS SWITCHED OFF?
i really need to this thing because of my work's condition
thx
If you talk about manual trades i am afraid this can't be done.
Yannis
  • #3,477
  • Apr 8, 2008 2:38pm Apr 8, 2008 2:38pm
A second trade that worked out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080408_5min_trade_2 jpeg.JPG Size: 103 KB
Click to Enlarge Name: 20080408_5min_trade_2a.JPG Size: 99 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,478
  • Edited 3:43pm Apr 8, 2008 3:29pm | Edited 3:43pm
This is a part of a PM I've sent to a fellow trader earlier - thought I want to share it with everybody and especially the last paragraph (the main purpose of the SKype chat is not to give exact entry point but to discuss the signal points in a setup as it develops/or after the setup. Please don't let it influence your trading style but rather use it to sharpen your skills/share opinions):

"I've tried several other systems on ff but without success. This system suites me and now I am starting to enjoy it. Mainly I concentrate on the price actions now and not on the indicators. The indicators are used to confirm my entry. I am sure it is evident from my more recent charts posted. People tend to rely too much on the indicators and forget to focus on the price actions.

Another problem was the 5min Skype chat which can be a distraction - solved it now and I don't get influence by the members anymore. I am trading my own style."

I still make silly mistakes but I am learning from it
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,479
  • Apr 8, 2008 3:43pm Apr 8, 2008 3:43pm
My negative trade today - bad mistake! Should have exit much earlier. Didn't follow my 5-6candle rule. The trade was not on - too late in the run and the market showed already signs of recovery upwards.

Read the charts and don't just consentrate on the indicator (I saw that nice TC and I didn't look for pevious high lows and other signs. Be careful.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080408 5min trade 1 peg.JPG Size: 91 KB
Click to Enlarge Name: 20080408 5min trade 1b.gif Size: 28 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,480
  • Apr 8, 2008 5:29pm Apr 8, 2008 5:29pm
Hi Golfer

Thanks for sharing these trades. Us Newbies are learning lots and appreciate your time.

Would I be right in saying that the second trade might not have been your best also because the 50MA was not showing a 20 degree angle?

Cheers

Fernie
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