5Min Intraday System

When will I learn to let the second half of my position run... Bah!

[05:59:01 PM] mkain says: e/j gave kind of 3 little sisters minutes ago

[05:59:14 PM] mkain says: too fast move by the way

[05:59:50 PM] Willem Kruger says: Mkain - was just about to put it, well done. I also missed it. lets wait for a possible 4th sister

[06:00:07 PM] mkain says: i did not talke it

[06:00:11 PM] mkain says: just watch

[06:00:22 PM] mkain says: pivot line was below

[06:00:31 PM] mkain says: M3

[06:00:42 PM] Willem Kruger says: EY - just look at the smooth TC on that 3rd sister as well

[06:01:22 PM] Willem Kruger says: My M3 line is at 164.43 and the high of the 3rd was just on that level

[06:01:54 PM] mkain says: mine was 164.29

[06:02:14 PM] Willem Kruger says: Ok, no problem. EY - lower low just formed. Good sign if we get a 4th sister

[06:03:05 PM] Willem Kruger says: EY - My Small resistance line drawn

[06:04:49 PM] Willem Kruger says: EY - lets see what is going to happen at Mkain's M3 line

[06:06:03 PM] Willem Kruger says: waiting for that pullback and 21 on SMAangle to come out of non-trade zone


[06:11:22 PM] Willem Kruger says: EY - great power candle

[06:11:27 PM] mkain says: very small sister

[06:11:57 PM] Willem Kruger says: Agree

[06:12:11 PM] jamesr242424 says: willem, which is your power candle the last 5m on the ej

[06:12:15 PM] jamesr242424 says: down

[06:12:35 PM] mkain says: i wanted it went till 21 at least

[06:12:46 PM] jamesr242424 says: me too, i missed it

[06:13:15 PM] Willem Kruger says: Yes, but 21 is still in non-trade zone

[06:14:13 PM] Willem Kruger says: EY - there is the TC now being formed on MACD

[06:14:49 PM] jamesr242424 says: yes but which is your power candle the last 5m on the ej u were referring to??

[06:15:38 PM] Willem Kruger says: EY - 16H05GMT is power candle - format as described by Phillip

[06:19:30 PM] jamesr242424 says: i am sorry but confused you are saying the bear candle at 19:05 3 candles ago is the power candle? if so what designates it a power candle, what is it significants

[06:28:39 PM] Willem Kruger says: Yes, it was the bearish candle. Phillip put 3 types of candles on the thread what he called power candles in the war zone.

[06:48:06 PM] Willem Kruger says: EY - just took 5pips from that power candle on the small 4th sister. Price seems to stall now

[06:50:58 PM] jamesr242424 says: yes i watched that, market is slow now for lunch, it has been a big day for the market being monday

[06:51:53 PM] Willem Kruger says: Agree

Another chart with several bearish power candles - just to show you one cannot trades every power candle. Be careful.

James - specially for you.

Made my one percent today. I'm done. Just one trade. Nothing more to risk today.

EUR/USD
#1:
Short at 1.58763
1st half closed at 1.58691: +7.2 pips
2nd half closed at 1.58442: +32.1 pips

http://www.xaron.net/dl/fx/2008/intr...usd_220408.png

Good trading!

Regards - Xaron

Hi Xaron,

when do you leave the Market with your first half position and when you leave it with the second half?

Thx
Thomas

I aim to close the first half after 10 pips, often less, but it should be at least 5 pips.

I try to let the second half run and trail the stop behind the last recent high/low. But, if I see that I have reached my target, I'll close the trade.

Trailing often is the better option by the way...

Regards - Xaron

Willem, could you please add me to the Skype room? My nick: martin.leidel

Thanks - Xaron

Hi X

You're on and I see your name on the member's list. Hopefully you'll receive the chat shortly.

Yep, does work. Thanks for inviting!

Regards - Xaron

Willem: Would you add me to the skype chat.

My skype id is: krme123

Regards,
Jim

I took the same trade as Xaron - but I forgot to activate my EA and I couldn't follow the trade. So when I came back, I was 26pips up, so I closed it. Also just in time.

Hi Jim

I saw you are already a member in the chat - somebody added you, I hope you've received the chat.

i just wanted to say hello to the forum and especially this thread since i'm a relatively new member and this being my first post.

i like this strategy very much and will start demo-trading soon. so i hope i can contribute some charts with possible signals and discuss it with you.

best greets

dr_ceran

A quick second trade on EY with a few nice signals coming together. Very nice to have so many signals together on a setup. Making it a high probability setup.

Once again - just in time to take the 10pips profit before it turns around. Thanks to Yannis and his EA - works great.

This is what I want to do in future - see how many signals can be found in a setup. And then look at the success rate.

Welcome and good luck. Make sure you understand the system and principles behind the system. Look at the rules and develop your own. Make sure you do follow it. That is only way you'll succeed.

Just for everybody - this is not the "holy g..../system" of trading. It needs hard work, discipline and patience. And I think that is why most people come and go with this system - they don't want to put in the hard work.

Enjoy the trading.

Another good day. Mission accomplished. 1.3%

BUT: Again I should let the second half run... DAMN!

EUR/USD
#1:
Short at 1.59753
1st half closed at 1.59702: +5.1 pips
2nd half closed at 1.59597: +15.6 pips

http://www.xaron.net/dl/fx/2008/intr...usd_230408.png

GBP/USD
#1: Short at pivot
Short at 1.98947
1st half closed at 1.98891: +5.6 pips
2nd half closed at BE: +1.0 pips
#2:
Short at 1.99108
1st half closed at 1.99033: +7.5 pips
2nd half closed at 1.98996: +11.2 pips

http://www.xaron.net/dl/fx/2008/intr...usd_230408.png

Regards - Xaron

hey xaron....

very nice trade!
but what are your adjustments to the system (since its not what i read about the "rules")? and why didn't you trade the first penetration of the warzone (eur/usd 08:25).

thx in advance

dr_ceran

Thanks! I did not trade the first penetration in the EUR/USD because there was no new low before. There was a resistance at 1.5970 which I wanted to see breaked.

I don't use any adjustments to this system, just the 3 MA's and a stop of 20 pips.

Regards - Xaron

dr ceran I can´t see this fist penetration at 8:25...It´s just at 8:50 and 8:55 the fist a big candle and next a little one...

By the way...congratulations Xaron u r doinhg your job...well done.

Thank´s
Suba

I buy your idea, I also have a strategy similar to this. Thanks for the advice.