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5Min Intraday System

  • #4,721
  • Jul 7, 2008 1:37pm Jul 7, 2008 1:37pm
This is once again a typical picture of the EY when ranging - take the TCs on:

Those small smooth candles bouncing off the 10 and 21.

I only had one change.
Attached Image (click to enlarge)
Click to Enlarge Name: 200800707 ey typical.gif Size: 26 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,722
  • Jul 7, 2008 1:41pm Jul 7, 2008 1:41pm
Hi Golfer , Your postings are very informative and charts are filled with new things , as far as I concerned. I learn from you and really appreciate your help. Could you please tell do you always fallow 5M chart or your first look for setups in 1H or 4H or daily and then go to 5M chart for entry? Are you using entry orders or you go for market orders?
Thank you so much for your insight !
Thank you


Quoting Golfer
A picture of My 3 big brothers trade as requested on Skype chat.
BANDA333
  • #4,723
  • Jul 7, 2008 1:42pm Jul 7, 2008 1:42pm
My EY trade visible on the previous chart as well. Look at all the TCs but none were smooth. Little bit worrying but a few were tradeable.
Attached Image (click to enlarge)
Click to Enlarge Name: 200800707 5min trade 3.1.JPG Size: 120 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,724
  • Jul 7, 2008 1:49pm Jul 7, 2008 1:49pm
Quoting BANDA
Hi Golfer , Your postings are very informative and charts are filled with new things , as far as I concerned. I learn from you and really appreciate your help. Could you please tell do you always fallow 5M chart or your first look for setups in 1H or 4H or daily and then go to 5M chart for entry? Are you using entry orders or you go for market orders?
Thank you so much for your insight !
Thank you
Hi Banda

Only a pleasure

Once a see a possible setup being developed, I'll quickly go to my 4h MACD system chart to see where the price is in relation to the 4h rules. Then I'll start looking for signals.

But not all them are correct - like the Skype chat on Cable after the 4th brother a few hours ago. I got it wrong and it ran upwards. Hope somebody caught it - I just didn't like it.

Also like I mentioned in Skype, I don't like to look at the 1h MACD chart - only the 4h MACD chart and then the 5min. I do find it sometimes confusing to look at too many time frames.

Just my personal opinion.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,725
  • Jul 7, 2008 1:53pm Jul 7, 2008 1:53pm
Hi Golfer
Thank you very much for your reply. Do you think adding Bollinger band 3SD or 2SD to the 5M chart will complicate the picture? As I do not have SMA angle indicator I was wondering Bollinger bands could help me with it.....
Thank you so much.



Quoting Golfer
Hi Banda

Only a pleasure

Once a see a possible setup being developed, I'll quickly go to my 4h MACD system chart to see where the price is in relation to the 4h rules. Then I'll start looking for signals.

But not all them are correct - like the Skype chat on Cable after the 4th brother a few hours ago. I got it wrong and it ran upwards. Hope somebody caught it - I just didn't like it.

Also like I mentioned in Skype, I don't like to look at the 1h MACD chart - only the 4h MACD chart and then the 5min. I do find it sometimes confusing to look at too many time frames.

Just my personal opinion.
BANDA333
  • #4,726
  • Jul 7, 2008 2:06pm Jul 7, 2008 2:06pm
Quoting BANDA
Hi Golfer
Thank you very much for your reply. Do you think adding Bollinger band 3SD or 2SD to the 5M chart will complicate the picture? As I do not have SMA angle indicator I was wondering Bollinger bands could help me with it.....
Thank you so much.
Otherwise you can do it the old fasion way - look at the angle of the 50MA. All what the SMAangle is doing, is to replace the subjective measuring of the 50MA angle.

Why do we look at the SMAangle or the angle of the 50MA? It means that a substancial "trend"/move is underway and we can get on board. That is all. Now you just need to get an entry point - the pullback. But not every pullback will result in a profit.

That is why I identified the SIDMOV (small intraday movements) - to be avoided, very risky to trade but some do work out.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,727
  • Jul 7, 2008 2:11pm Jul 7, 2008 2:11pm
Golfer Thank you so much for your insight and explanation and taking time for my questions. Thankx again


Quoting Golfer
Otherwise you can do it the old fasion way - look at the angle of the 50MA. All what the SMAangle is doing, is to replace the subjective measuring of the 50MA angle.

Why do we look at the SMAangle or the angle of the 50MA? It means that a substancial "trend"/move is underway and we can get on board. That is all. Now you just need to get an entry point - the pullback. But not every pullback will result in a profit.

That is why I identified the SIDMOV (small intraday movements) - to be avoided, very risky to trade but some do work out.
BANDA333
  • #4,728
  • Edited 3:03pm Jul 7, 2008 3:01pm | Edited 3:03pm
Quoting poplar
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.
Thanks Poplar and On the Spot for your comments. I keep hoping that my struggles to master myself will be of help to someone else, too. Anyway, I didn't try any trades during my period with our method. Price was slicing through the moving averages. I did some support/resistance trading, but that's another method. The best to all! --Tony
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 5min intra notrades 7july2008.gif Size: 21 KB
  • #4,729
  • Jul 7, 2008 3:34pm Jul 7, 2008 3:34pm
Quoting Golfer
Otherwise you can do it the old fasion way - look at the angle of the 50MA. All what the SMAangle is doing, is to replace the subjective measuring of the 50MA angle.

Why do we look at the SMAangle or the angle of the 50MA? It means that a substancial "trend"/move is underway and we can get on board. That is all. Now you just need to get an entry point - the pullback. But not every pullback will result in a profit.

That is why I identified the SIDMOV (small intraday movements) - to be avoided, very risky to trade but some do work out.
Hi Willem, well first of, great trade the 3 big brothers, very interesting pattern because it happens quite often. I tried it in the uj but price was still close to the 50, and I closed it with -4 pips, but learned my lesson.

And also I hadnt heard of the SIDMOV in that term, but how to identify them and in that case to avoid trading within them? using the SMAangle?

Thanks again Willem for your support and congratulations on your last trades.
  • #4,730
  • Jul 7, 2008 10:19pm Jul 7, 2008 10:19pm
Quoting MxPips
Hi Willem, well first of, great trade the 3 big brothers, very interesting pattern because it happens quite often. I tried it in the uj but price was still close to the 50, and I closed it with -4 pips, but learned my lesson.

And also I hadnt heard of the SIDMOV in that term, but how to identify them and in that case to avoid trading within them? using the SMAangle?

Thanks again Willem for your support and congratulations on your last trades.
Links are posted on page 1. Basically what Tony was saying in his last post and your charts look like this where you start drawning your SMall support and resistance line. Then I know I have to stay out of the market.

I got burned a few times trying to trade in markets like this.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.gif Size: 35 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,731
  • Jul 8, 2008 2:05am Jul 8, 2008 2:05am
Sell E/J 167.801 Close 167.54 +26.1pips
Attached Image
  • #4,732
  • Jul 8, 2008 2:55am Jul 8, 2008 2:55am
nice trade qwert, may I ask about your entry trigger?
  • #4,733
  • Jul 8, 2008 3:42am Jul 8, 2008 3:42am
My trades:
1) sell GbpUsd after "two candle entry". MACD was'nt smooth, but i liked how 21MA acted as resistance. I had +6pips, but i didn't put stop to BE. My fault. result -16 pips.
2) sell UsdJpy. I liked nice smooth TC formation. I exit early due to duble bottom. +6pips.
3)sell EurJpy. Smooth TC formation. really quick trade. +10 pips

Overall BE.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 14.gbpusd 8july.gif Size: 24 KB
Click to Enlarge Name: 15'.usdjpy 8july.gif Size: 22 KB
Click to Enlarge Name: 16'.eurjpy 8july.gif Size: 22 KB
  • #4,734
  • Jul 8, 2008 3:45am Jul 8, 2008 3:45am
Quoting On the Spot
Why is your Angle Treshold 0.22 instead of 0.15?
Hi, On the Spot!
If you mean SMAAngle indicator, than I use 0.1 for EU,GU,UJ and 0.15 for EJ
  • #4,735
  • Jul 8, 2008 3:59am Jul 8, 2008 3:59am
0900 GMT I like the pullback with small candles, so am in this long in eurusd. Post chart later.
  • #4,736
  • Jul 8, 2008 4:11am Jul 8, 2008 4:11am
Have to be quick on the trigger.
Attached Image
  • #4,737
  • Jul 8, 2008 4:13am Jul 8, 2008 4:13am
Couldn't hold myself. I try to follow Philips advise, 3 trades per day.
But setup was calling me as Golfer says. acsending triangle and TC formation.
+10 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 17.gbpusd 8july.gif Size: 21 KB
  • #4,738
  • Jul 8, 2008 4:22am Jul 8, 2008 4:22am
Quoting islandtrader
nice trade qwert, may I ask about your entry trigger?
My entry point for most of my trades comes from watching the movement of currencies of U/J, E/U, E/J, & G/J couple with 5Min Intraday system rules(But not all the rules - just the simple ones) and pivot points.

I had a long trip for about 11 days and just came back on July 1. I watch the currencies to get a feel of where it's moving and looking at some news. Really, the key here is patience, discipline and to trade just a small percentage of your capital and you will almost always be all right.
  • #4,739
  • Jul 8, 2008 6:21am Jul 8, 2008 6:21am
1214 GMT. I see a possible short if the ellipse pattern comes in eurusd.
  • #4,740
  • Jul 8, 2008 6:44am Jul 8, 2008 6:44am
However short at 1.5697 on rejection of the 21 and 10 ema.
Attached Image
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