5Min Intraday System | Page 184 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex intraday using the 5min chart: EURUSD 108 replies

The Force 5min system 3,806 replies

Intraday Pound Trades on 5min chart [GBPUSD] 36 replies

5min Bollinger breakout system 42 replies

Attachments: 5Min Intraday System
Exit Attachments

5Min Intraday System

  • #3,661
  • Apr 23, 2008 5:34am Apr 23, 2008 5:34am
Quoting Xaron
There was a resistance at 1.5970 which I wanted to see breaked.
ahh -- i see, i guess one can see that resistance on your chart developing in the first hours of the day (02:00-04:00), hope i'm right...

Quoting Xaron
I don't use any adjustments to this system, just the 3 MA's and a stop of 20 pips.
ok, so you dont use the sma-angle indicator and adx, but do you have a look at the angle of the 50sma at least on the chart?

greetz - dr_ceran
  • #3,662
  • Apr 23, 2008 5:40am Apr 23, 2008 5:40am
Quoting dr_ceran
ahh -- i see, i guess one can see that resistance on your chart developing in the first hours of the day (02:00-04:00), hope i'm right...
That's correct.

Quote
ok, so you dont use the sma-angle indicator and adx, but do you have a look at the angle of the 50sma at least on the chart?

Yes, but the angle is more a subjectiv thing. More important for me is, that all 3 MA's show in the same direction as the trend and they have to spread up.

Regards - Xaron
  • #3,663
  • Edited 5:58am Apr 23, 2008 5:54am | Edited 5:58am
Nice trading!

Can I just ask - do you only consider support and resistance locally on the 5min or do you look at bigger TF for S&R and also where the MAs are and also Weekly S&R etc?

I would imagine that the bigger TFs are not as important if we are looking for around 10pips?

Would also be grateful for anyone else's theory on this - GOLFER? Rebecca? etc

Cheers

Fernie
  • #3,664
  • Apr 23, 2008 6:14am Apr 23, 2008 6:14am
Quoting Fernie
Nice trading!

Can I just ask - do you only consider support and resistance locally on the 5min or do you look at bigger TF for S&R and also where the MAs are and also Weekly S&R etc?

I would imagine that the bigger TFs are not as important if we are looking for around 10pips?

Would also be grateful for anyone else's theory on this - GOLFER? Rebecca? etc

Cheers

Fernie
I consider other timeframes' S&R and see how market reacts in such points while I trade with 5 min chart.
Trendlines I draw in 5 min help for entries and pivot lines keep me away of some bad trades and are helpful as profit targets too.
I hope it helps.
  • #3,665
  • Apr 23, 2008 6:14am Apr 23, 2008 6:14am
Thanks! I look at the hourly as well...

Regards - Xaron
  • #3,666
  • Apr 23, 2008 6:18am Apr 23, 2008 6:18am
Quoting Fernie
Nice trading!

Can I just ask - do you only consider support and resistance locally on the 5min or do you look at bigger TF for S&R and also where the MAs are and also Weekly S&R etc?

I would imagine that the bigger TFs are not as important if we are looking for around 10pips?

Would also be grateful for anyone else's theory on this - GOLFER? Rebecca? etc

Cheers

Fernie
Hi Fernie

Yes I do the use of bigger timeframes to look for support and resistance - but mainly on the 4h system. Then I also discovered a website, where they do have videos where they discuss daily and weekly charts - I do find it very interesting. I do keep their advice in mind.

But you are right - if you look for 10pips, it doesn't really matter. The only problem is if you do enter me in a bigger timeframes support level, and the price turns around. You need to know where to expect the turn around.

These support and resistance levels on the five-minute chart are very important for me. Even though the five-minute chart is a very small time frame. I do find it very useful when scalping the market with Philip's 5min system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,667
  • Apr 23, 2008 6:19am Apr 23, 2008 6:19am
Quoting Fernie
Nice trading!

Can I just ask - do you only consider support and resistance locally on the 5min or do you look at bigger TF for S&R and also where the MAs are and also Weekly S&R etc?

I would imagine that the bigger TFs are not as important if we are looking for around 10pips?

Would also be grateful for anyone else's theory on this - GOLFER? Rebecca? etc

Cheers

Fernie
Enough feedback? - LOL!!!

You can see who believes in this system and has spent some quality time studying this system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,668
  • Edited 7:18am Apr 23, 2008 7:12am | Edited 7:18am


It's all really helpful - and great that you successful guys are all willing to share and help us Newbies.

It seems easy to find weekly and monthly S&R, but I don't really understand Pivots and where to find the figures. Can anyone help please or maybe point me in the right direction to find, maybe on FF?

Cheers

Fernie
  • #3,669
  • Apr 23, 2008 7:19am Apr 23, 2008 7:19am
Pivots: http://www.actionforex.com/forex_ana..._200603205734/

Regards - Xaron
  • #3,670
  • Apr 23, 2008 7:28am Apr 23, 2008 7:28am
Quoting Fernie


It's all really helpful - and great that you successful guys are all willing to share and help us Newbies.

It seems easy to find weekly and monthly S&R, but I don't really understand Pivots and where to find the figures. Can anyone help please or maybe point me in the right direction to find, maybe on FF?

Cheers

Fernie
Go to this link... easy to understand and it has pics !
http://www.babypips.com/school/pivot_points.html
What do you mean by figures?
  • #3,671
  • Apr 23, 2008 10:12am Apr 23, 2008 10:12am
know how to use pivot point is very important, babypips provides the basic knowledge
{Promotion Removed}
  • #3,672
  • Edited 2:19pm Apr 23, 2008 2:15pm | Edited 2:19pm
So, let's see if I've got the general idea...

I have been to both links and really helpful.

I guess it's a good idea to draw the Pivot and S&R lines on the 5 min chart for our trades, but would it be best to draw them from the 1H or 4H for our trades?

If I understand correctly, Golfer uses S&R from 4H but is that also PP? (I think I may be confused with the 4h "system") Also Golfer, do you mean the published S1, R1 etc or what you can actually see on the chart?

I guess we need to excercise caution if the price is near to the pivot price.

By figures, I meant prices Mkain, sorry. It seems these can easily be found on the link Xaron posted.

Sorry to be a pain!!

Cheers

Fernie
  • #3,673
  • Apr 23, 2008 3:11pm Apr 23, 2008 3:11pm
Quoting Fernie
So, let's see if I've got the general idea...

I have been to both links and really helpful.

I guess it's a good idea to draw the Pivot and S&R lines on the 5 min chart for our trades, but would it be best to draw them from the 1H or 4H for our trades?

If I understand correctly, Golfer uses S&R from 4H but is that also PP? (I think I may be confused with the 4h "system") Also Golfer, do you mean the published S1, R1 etc or what you can actually see on the chart?

I guess we need to excercise caution if the price is near to the pivot price.

By figures, I meant prices Mkain, sorry. It seems these can easily be found on the link Xaron posted.

Sorry to be a pain!!

Cheers

Fernie
Hi Fernie

No problem - if you don't ask, you won't learn.

I do use the pivot indicator to draw my daily pivot levels (as well as the intermediate line - M0-4 lines). Indicator/s as posted on first page of this thread. I just take note of the published R&S levels but I don't draw them on my charts.

Then I do use previous High and Lows on the chart itself to draw support and resistance line - more meaningful on bigger time frames but well used and helpful using Highs and Lows on the 5min charts.

I don't really use fib levels - just now and then.

I hope it helps
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,674
  • Apr 23, 2008 4:08pm Apr 23, 2008 4:08pm
Here is the latest version of the EA which will allow you to baby sit your manual trades. I hope you will find all its features useful and it will help your trading.

Yannis
Attached File(s)
File Type: ex4 Artemis_Sitter v1.60.ex4   112 KB | 1,047 downloads
File Type: pdf Artemis_Sitter.pdf   633 KB | 1,963 downloads
  • #3,675
  • Apr 24, 2008 4:19am Apr 24, 2008 4:19am
Ah what a day! Great opportunities lying in the 5min everywhere. Unfortunately I still screw up more than I gain. I'm waiting for Xaron's one or two hyper trades...

I wonder how someone can improve on spotting opportunities. Seeing them afterwards is no problem but in the middle of a forming swing no indicator seems appropriate because they all repaint a lot. For example the MACD can up till the last second change from a trend continue pattern to a reversal one. This also applies for the formation of candle patterns. If I wait for the candle to complete, then the opportunity seems to be gone already, if I get in early everything can happen which results in my bad performance.

One thing I already identified, I get out of wins too early and let losses run too long. Sigh. I'll keep trying...
  • #3,676
  • Apr 24, 2008 4:21am Apr 24, 2008 4:21am
No hyper trades today, got stopped out 2 times exactly to the pip.

But that's live. More to come...

Regards - Xaron
  • #3,677
  • Edited 5:50am Apr 24, 2008 5:29am | Edited 5:50am
Quoting Wonko
Ah what a day! Great opportunities lying in the 5min everywhere. Unfortunately I still screw up more than I gain. I'm waiting for Xaron's one or two hyper trades...

I wonder how someone can improve on spotting opportunities. Seeing them afterwards is no problem but in the middle of a forming swing no indicator seems appropriate because they all repaint a lot. For example the MACD can up till the last second change from a trend continue pattern to a reversal one. This also applies for the formation of candle patterns. If I wait for the candle to complete, then the opportunity seems to be gone already, if I get in early everything can happen which results in my bad performance.

One thing I already identified, I get out of wins too early and let losses run too long. Sigh. I'll keep trying...
Hi Wonko

I am so glad I am not the only one who are struggling with it. I was very frustrated in the past - now it is a bit better.

That is what I am trying to do with the pictures of my trades. I did realise that it is very easy to spot the perfect setup afterwards. It is very difficult to spot the set up while it is being formed. I was hoping that the first picture of my trade would be helpful - and that is why I'm trying to save the first picture just before or just after my entry.

That is also what I thought the purpose of the Skype chat should be. To discuss the set ups and other specific signals as it appears. I wanted to mention the fact that it seems like the TC is starting to form or we do have a power candle now or there is the bounce off of the 21.

I don't know if that kind of chap on the Skype would be helpful - it was helpful with Phillip's assistance while I was a very novice.

On my three pairs today, I only saw two tradeable set ups so far.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,678
  • Apr 24, 2008 6:51am Apr 24, 2008 6:51am
Quoting Yannis
Here is the latest version of the EA which will allow you to baby sit your manual trades. I hope you will find all its features useful and it will help your trading.

Yannis

I'm getting an Adobe error trying to open the pdf. Is it just me???
  • #3,679
  • Apr 24, 2008 7:51am Apr 24, 2008 7:51am
Today was one of those "special" days. Bad for me. Both Cable trades were stopped out very badly.

GBP/USD
#1:
Short at 1.97662
Closed at 1.97862: -20.0 pips
#2:
Short at 1.97554
Closed at 1.97754: -20.0 pips

http://www.xaron.net/dl/fx/2008/intr...usd_240408.png

USD/JPY
#1:
Long at 103.762
Closed at 103.772: +1.0 pips
#2:
Long at 103.800
1st half closed at 103.862: +6.2 pips
2nd half closed at 103.810: +1.0 pips
#3:
Short at 103.624
1st half closed at 103.530: +9.4 pips
2nd half closed at 103.614: +1.0 pips
#4: Trade before news. I was "sure" there would be bad news. Ok, wrong.
Short at 103.457
1st half closed at 103.403: +9.4 pips
2nd half closed at 103.657: -20.0 pips

http://www.xaron.net/dl/fx/2008/intr...jpy_240408.png

Regards - Xaron
  • #3,680
  • Edited 9:20am Apr 24, 2008 9:08am | Edited 9:20am
hello folks
read the instruction in the previous post
copied the PhilNelSignal.exe and PhilNelSignal.mq4 compile restart my platform. I see the signal in the expert indicators but the icon is greyed out.
any attempt to attach to chart or move is unsuccessful . I am not able to see the signal. Went over the instruction numerous time what am i missing thanks in advance

update still not able to see the signal but got both file in same folder and recompiled the icon is now in color but still when i attached to chart i don see any signals any advise is appreciated thanks

update i figured it out lol...
1 trader viewing now