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5Min Intraday System

  • #4,681
  • Jul 3, 2008 5:43am Jul 3, 2008 5:43am
Nice day
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  • #4,682
  • Edited 7:18am Jul 3, 2008 6:25am | Edited 7:18am
I stayed out because of NFP and interest rate news but I've found more examples of "the three big brothers" in today's charts.
I wanted to share them for educational purposes.
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  • #4,683
  • Jul 3, 2008 7:57am Jul 3, 2008 7:57am
the 1min eur/usd gave a beautiful ellipse pullback, I went for 10 pips.
Next time I might try taking half at 10 and let the other half run.
short 1.5805, t/p 1.5795 +10pips
That was my plan today, waiting for NFP and to try to catch a pullback on the 1min.
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  • #4,684
  • Jul 3, 2008 8:10am Jul 3, 2008 8:10am
Saw it on the one minute and my lonely mouse at home was waiting for a click. Oh well, there will be more. Nice trade!
Raymond
  • #4,685
  • Jul 3, 2008 10:57am Jul 3, 2008 10:57am
Quoting islandtrader
the 1min eur/usd gave a beautiful ellipse pullback, I went for 10 pips.
Next time I might try taking half at 10 and let the other half run.
short 1.5805, t/p 1.5795 +10pips
That was my plan today, waiting for NFP and to try to catch a pullback on the 1min.
I also missed it - I just don't feel comfortable with 1min charts.

Well done - all according to the rules.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,686
  • Jul 3, 2008 1:56pm Jul 3, 2008 1:56pm
Quoting Morelands
My first post here on the 5 min. I'm still reading the thread and have a ways to go. I took the same trade today and backed out for the same reasons. Sorry to hear about your losses yesterday. Thanks to all the senior for your guidance and effort. Will post more later.
Raymond
Hi Raymond! As soon as you can, start posting charts. It's not that someone has to respond to them, but I think the mere fact that I am posting them where others can read them helps me to think more about the trade I made, and it also seems to engrave it deeper into my memory, which, after all, at this point, is what it's really all about, to have both a strong awareness of how I trade and of how I want to trade. Also, like Willem, I'm able to save them with my comments and review them at my leisure.

You don't even have to have made a trade. I was unable to watch the market this morning, but here's a hindsight trade, one that I would have wanted to have noticed and with the reasons why I think I would have taken it, or would hope I would have taken, hindsight being what it is! The best! --Tony
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  • #4,687
  • Jul 3, 2008 3:33pm Jul 3, 2008 3:33pm
Quoting islandtrader
the 1min eur/usd gave a beautiful ellipse pullback, I went for 10 pips.
Next time I might try taking half at 10 and let the other half run.
short 1.5805, t/p 1.5795 +10pips
That was my plan today, waiting for NFP and to try to catch a pullback on the 1min.
welldone,i like m1 news trades ,i was not online and if i were i'd never miss it.
  • #4,688
  • Edited 7:11pm Jul 3, 2008 6:56pm | Edited 7:11pm
If a trading system truly works, you will always make more pips trading the 5 min rather than the 1 min. I refer again to the example of the bus. Yes there are more buses on the 1 min route and many traders believe that will bring them more pips, especially around news times. It is not true. More buses on a route create more traffic, and traffic means congestion and that means that there is an enhanced probability that you will get stuck in a trap. Look at the 5 min chart (Eur/USD) and see how many signals and how many pips you would have made by trading well after the NFP in considerable safe trading time and than try to estimate the risk of trading the 1 min less than 30 min after the NFP. Is it really worth? I would rather trade against the market well after the NFP than scalping the 1 min less than 30 min after the NFP, no matter what story the charts tell you.
  • #4,689
  • Jul 3, 2008 7:21pm Jul 3, 2008 7:21pm
Trading is all about thinking, when the trader stops thinking, the gambler takes over!

Quoting OldDog
Hi Raymond! As soon as you can, start posting charts. It's not that someone has to respond to them, but I think the mere fact that I am posting them where others can read them helps me to think more about the trade I made, and it also seems to engrave it deeper into my memory, which, after all, at this point, is what it's really all about, to have both a strong awareness of how I trade and of how I want to trade. Also, like Willem, I'm able to save them with my comments and review them at my leisure.

You don't even have to have made a trade. I was unable to watch the market this morning, but here's a hindsight trade, one that I would have wanted to have noticed and with the reasons why I think I would have taken it, or would hope I would have taken, hindsight being what it is! The best! --Tony
  • #4,690
  • Jul 4, 2008 1:58am Jul 4, 2008 1:58am
Quoting OldDog
Hi Raymond! As soon as you can, start posting charts. It's not that someone has to respond to them, but I think the mere fact that I am posting them where others can read them helps me to think more about the trade I made, and it also seems to engrave it deeper into my memory, which, after all, at this point, is what it's really all about, to have both a strong awareness of how I trade and of how I want to trade. Also, like Willem, I'm able to save them with my comments and review them at my leisure.

You don't even have to have made a trade. I was unable to watch the market this morning, but here's a hindsight trade, one that I would have wanted to have noticed and with the reasons why I think I would have taken it, or would hope I would have taken, hindsight being what it is! The best! --Tony
yes good for beginer like me to so i can see what other thinks/did in situation like that, i like your chart with comment too keep posting it so i can learn more , i don't post many chart too because i have dificulty writing english, so i make it in my language.
  • #4,691
  • Jul 4, 2008 5:26am Jul 4, 2008 5:26am
34ema proved resistance, 21 on SMAAngle nearly in trade zone, mkain's signal, smooth TC and ZB. Closed one half at +2, and the other on retrace at +2, there has been some turbulence on the way which made me nervous.
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  • #4,692
  • Jul 4, 2008 6:06am Jul 4, 2008 6:06am
How does your 34 ema work?


Quoting islandtrader
34ema proved resistance, 21 on SMAAngle nearly in trade zone, mkain's signal, smooth TC and ZB. Closed one half at +2, and the other on retrace at +2, there has been some turbulence on the way which made me nervous.
  • #4,693
  • Edited 7:01am Jul 4, 2008 6:50am | Edited 7:01am
Quoting On the Spot
How does your 34 ema work?
Just another MA introduced by Phillip especially for the EY pair. She tends to find nice support/resistance on this MA because of her volatility.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,694
  • Jul 4, 2008 7:21am Jul 4, 2008 7:21am
Interesting, I guess that Phillip shut himself up in a bunker while he was testing his system . BTW I'm testing 2 new Counter trade pattern's that look very promising. I'm thinking at 2 methods to trade my add on, a conservative method in line with Phillips trend following philosophy and an aggressive method that will include CT. I will keep the MACDcoloredv102 but i still have a problem to get the ma on the bars of the smaangle, is there any alternative to that ma?

Quoting Golfer
Just another MA introduced by Phillip especially for the EY pair. She tends to find nice support/resistance on this MA because of her volatility.
  • #4,695
  • Jul 4, 2008 7:36am Jul 4, 2008 7:36am
As I've just setup my charts for the first time, could someone confirm for me whether there were Euro sell signals around 30-40 minutes ago? And do the charts currently show a reverse church formation?

thanks
TC
  • #4,696
  • Jul 4, 2008 7:39am Jul 4, 2008 7:39am
What euro pairs?

Quoting Trumpcard
As I've just setup my charts for the first time, could someone confirm for me whether there were Euro sell signals around 30-40 minutes ago? And do the charts currently show a reverse church formation?

thanks
TC
  • #4,697
  • Jul 4, 2008 7:46am Jul 4, 2008 7:46am
Quoting On the Spot
Interesting, I guess that Phillip shut himself up in a bunker while he was testing his system . BTW I'm testing 2 new Counter trade pattern's that look very promising. I'm thinking at 2 methods to trade my add on, a conservative method in line with Phillips trend following philosophy and an aggressive method that will include CT. I will keep the MACDcoloredv102 but i still have a problem to get the ma on the bars of the smaangle, is there any alternative to that ma?
Did you follow my instructions as stipulated in the Appendix (how to build the Smangle)? Otherwise lets have a private Skype chat later today and I'll help you.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,698
  • Jul 4, 2008 7:54am Jul 4, 2008 7:54am
Quoting On the Spot
What euro pairs?
sorry, I meant the EUR/USD
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  • #4,699
  • Jul 4, 2008 8:07am Jul 4, 2008 8:07am
Quoting Trumpcard
sorry, I meant the EUR/USD
do u mean this Trumpcard?
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  • #4,700
  • Jul 4, 2008 8:21am Jul 4, 2008 8:21am
I got a sell signal at 10.25 gmt and a buy signal (CT) at 11.25 gmt, 12.10 gmt, 12.55 gmt. I'm not familiar with the reverse church formation.

Quoting Trumpcard
sorry, I meant the EUR/USD
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