5 Min Keltner System

I take it you trade this same currency pair predominantly? Has your method proved effective with any other pairs? Thx.

I like your aproach Paulus. i like the way price goes back to the channel when outside of it. I guess it could be good trading it from 20:00 gmt where market is in sleep mode and price like to oscillate on 1 level.

hi, i noticed that on your charts you are posting that your put your arrows which mean buy on the first up bar (for long) does this mean you are not waiting for close?

thanks.

this is A+ system, i am going to have to quit my dayjob.

also, are you taking into account this when you post the charts with the pips you made?

Hi Paulus. I took the liberty of starting a scalping thread on the Eur/Usd a few minutes ago. Perhaps you would be interested in going to that thread and submitting your system as an alternative or variation as we seem to have the same basic trading manner. Just a thought. Great trading to you. Keith

Jup that's what I figured out to. Adding Multi Time Lines really helps. You see that it's quite dangerous to trade the London Open. If you look at the quite times you'll have more trade fades.

Hi Expat

no not really .. bit green when it comes to Forex day trading I cut my teeth in the futures markets.

This system was taking 40 points a day on er2 when we had high volatility...thats $4000 per contract per day.With Forex I can trade doz of swaps or should I say i have the choice to.. with futures you look at

Es,Er2 Ym and Nas and they will all generally be the same, they all rally at the same time and bottom at the same time etc etc..if Es is waiting to break Hod the others will wait with it !.

Paulus

Paulus,

Thanks a bunch for sharing this system.

At first galnce it looks like a really fantastic yet simple system.

Would you mind in giving approx stats for you futures trades.

What was your average hit rate?
What was your Reward/risk ratio?

Thanks in advance and thank you for sharing.

Greenhaze thanks for your advice I can see that makes sense these comments are worth there wait in Gold.. I will keep a check of the signals and see what happens

Nikolaou I enter the same as I was in my futures trading ..I take the trade in the last 10secs of the signal bar.I have a 5min timer so I can easily keep a check of timings.If I see a signal I like to know if I have 25secs or 4mins 59secs lol

Cheers

paul

Did a bit of futures trading a decade or so ago. Had to phone in all order to a broker and was not as astute as I should have been. Getting charts in the mail was no picnic either. Forced to concentrate on seasonal grains and an occassional metals gamble. Am much more comfortable in this arena.

bazuk

here is one of my Futures trading charts its on a site called chart hub..my future trading platform is IRT by linnsoft and chart hub is the way we can post to let others see our chart

http://www.charthub.com/images/2008/03/14/K_chart_3

and later in the day

http://www.charthub.com/images/2008/03/14/K_chart_13

and another on this day I stopped at +5 ( $500 per contract) but the system was on 17.1 ( $1,710 per contract)

http://www.charthub.com/images/2008/04/17/System_1_5



If you go to chart hub and look for more charts from this user you will se all my charts and exploits in ER2 trading..the +39 refers to 39 points x $100 per contract so $3,900 per contract.

The strike rate wasn't particularly high on winners because as you can see I cut my losers out fast..hence the 0+0 but all done in a mechanical way..I don't do emotions.the arrows you see are automatically put thier by the software as I coded it.

I later changed the zero zero on both contracts and moved to a diff type of stop which turned some of those break evens into winners.. this made it easier for me to hit my 5 point tgt.

Hope that helps

Paulus

If you go to the chart hub site and find all my postings please do not think they are all of the same system..over the years I have traded many systems on diff time frames... some of the charts are experimental posted to let other trader friends see what Im up to or talking about.

If its got a K in the title its this my current system

cheers

Paulus

hi paulas
by signal bar do you mean the doji or red candle, if so do you wait for it to close? because checking back, i see alot of false signals especially in a trending market, the keltner lines follow the price either up or down?
Tom

Hi Book times..

The entry candle is where the red arrow is and i enter in the last 10secs of that arrow.by the very nature of the system my trade will always be in the opposite direction to the Keltner.

I do not wait for any thing ..I don't wait for ma's to change colour or stochastic to cross..If the price is out side the channel and the stoch is OB or OS I want in and will do it on the down candle for a short up candle for a long.

You will have losing trades but if their nipped in the bud you'll be ok.

I think like a sparrow I come down to the lawn and take loads of little pieces of bread rather than the loaf like the wood pigeon ..if he drops it he loses the lot and may have to wait a day for another loaf to appear..I just nip down and take another small piece ..lols

sorry it was the best I could think of .... ;-)



Its mainly counter trend trading but I do get signals if there is a strong pull back in an uptrend for example and the price comes down through the bottom K line then I'm normally long ready for the next rally as the stoch will be over sold ...all i need is an up bar

cheers

Paulus

Thanks for this system dude, looks interesting.

I didnt trade these way to early for me here in the UK

Any one going to chart hub via the link would have sen allot of +0 point trades,Ive set up a chart with early morning signals to show you how it is achieved.

Again I'm not sure its workable with forex but I don't see why not and time will tell

Paulus

hmmm +0+9+0+19 = +28 days over back to bed

Paulus

Thanks Paulus for shearing your system. I'll be following your trades...
Can you tell how many signals per day it generates? and you only trade cable?

What do you thing of tp half of your position and the other half at be, just to catch the trend if it happens?

In learning process...

1sr trade with a loss just to see it 10 min later reversing..

just learning...

Zaka you need to watchout for momentum. You enterd on two very weak bullish bars on NZDUSD trade.