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5Min Intraday System

  • #4,801
  • Edited 5:01am Jul 10, 2008 4:59am | Edited 5:01am
Only 4 pips gained, with entry based chiefly on MACD TC. A little too near the M2 line for my liking, but worth it for the experience, as I'm not used to this indicator yet.
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  • #4,802
  • Jul 10, 2008 5:23am Jul 10, 2008 5:23am
If you help people, you will help yourself. I am convinced that if you don't trade according to a sound system that you can explain to other people, you will get broke sooner or later. I hope you are not wasting your time here.

Quoting Qwert
No problem Golfer. What you do to explain to people here is a much harder work and very time consuming. I bet you missed a lot of opportunities because of this since this system needs a person's constant watching of charts. We thank you for your EFFORTS.
  • #4,803
  • Jul 10, 2008 5:45am Jul 10, 2008 5:45am
This system will enter into a new dimension tomorrow. Classic short entry 9.30 Gmt, aggressive short entry 9.25 Gmt.

Quoting eyevoltage
Only 4 pips gained, with entry based chiefly on MACD TC. A little too near the M2 line for my liking, but worth it for the experience, as I'm not used to this indicator yet.
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  • #4,804
  • Jul 10, 2008 5:47am Jul 10, 2008 5:47am
Quoting eyevoltage
Only 4 pips gained, with entry based chiefly on MACD TC. A little too near the M2 line for my liking, but worth it for the experience, as I'm not used to this indicator yet.
Hey,It is my position.In the down trend,I have only 1 position.very litle.
10 pips for m.Hix.
What the method you take profits??
I uaually take profits by move Stoploss.
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  • #4,805
  • Jul 10, 2008 5:50am Jul 10, 2008 5:50am
Quoting eyevoltage
Only 4 pips gained, with entry based chiefly on MACD TC. A little too near the M2 line for my liking, but worth it for the experience, as I'm not used to this indicator yet.
cool, caught the same setup, my entry was a bit earlier, before TC signal...
  • #4,806
  • Jul 10, 2008 6:08am Jul 10, 2008 6:08am
Quoting thang822462
Hey,It is my position.In the down trend,I have only 1 position.very litle.
10 pips for m.Hix.
What the method you take profits??
I uaually take profits by move Stoploss.
I would normally have entered just under the Pivot Point, but because I've only just started using MACD TC, and it looked like a nice elliptical TC, I thought I'd try it. With this intraday method, 10-15 pips is always a good figure to aim for as regards TP, and sometimes you can catch much more if the conditions are right. However, as I said before, I was conscious of the M2 line being so close, so all I wanted was a small profit just to prove to myself that it worked, before getting out. So I guess my method of TP is using targets or just jumping ship when conditions show signs of turning against me. Nothing more sophisticated than that, I'm afraid.
  • #4,807
  • Jul 10, 2008 6:11am Jul 10, 2008 6:11am
Damn, I missed the pullback to the pivot due to a meeting. Should have set a limit order there...

If the pullback goes back to the pivot and if it's right inside of the war zone, it's a 90% trade. I double my position sizes in that case...

Regards - Xaron
  • #4,808
  • Jul 10, 2008 6:15am Jul 10, 2008 6:15am
Quoting On the Spot
This system will enter into a new dimension tomorrow. Classic short entry 9.30 Gmt, aggressive short entry 9.25 Gmt.
Is tomorrow the big day when your add-on starts getting used in earnest, my friend? I wish you (and us!) every success with it.
  • #4,809
  • Jul 10, 2008 6:30am Jul 10, 2008 6:30am
I don't think that my counter trade strategy will be useful to you, it seems that you don't use MT4 and without MT4 no counter trade strategy. BTW I know you from the Oanda forum

Quoting Xaron
Yep...
  • #4,810
  • Jul 10, 2008 6:32am Jul 10, 2008 6:32am
Quoting On the Spot
I don't think that my counter trade strategy will be useful to you, it seems that you don't use MT4 and without MT4 no counter trade strategy. BTW I know you from the Oanda forum
Oh it will be useful. I use Metatrader as well and have a live account with Alpari UK.

Regards - Xaron
  • #4,811
  • Jul 10, 2008 6:38am Jul 10, 2008 6:38am
Arrow = Signal candle, entry on open of next candle.
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  • #4,812
  • Jul 10, 2008 6:52am Jul 10, 2008 6:52am
Arrow = Signal candle, entry on open of next candle.
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  • #4,813
  • Jul 10, 2008 6:53am Jul 10, 2008 6:53am
I'm just wondering, when you guys do enter market, and something goes wrong, do you wait when price hit SL or close transaction ??
cheers
  • #4,814
  • Jul 10, 2008 7:02am Jul 10, 2008 7:02am
Did you guys try this method on 1 min charts ? thanks Walter.
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  • #4,815
  • Jul 10, 2008 7:47am Jul 10, 2008 7:47am
Quoting pomurnik
I'm just wondering, when you guys do enter market, and something goes wrong, do you wait when price hit SL or close transaction ??
cheers
Hi Po

It will all depend on the style of your trading and where you put your stoploss.

I am trying to exit once I do have negative signals as close to breaking even as possible. But more often Sl gets it - that is one thing I'm working at to improve myself. Taking smaller losses once the market moves against you.

Enjoy the trading.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,816
  • Jul 10, 2008 7:53am Jul 10, 2008 7:53am
Quoting walterw
Did you guys try this method on 1 min charts ? thanks Walter.
Hi Walter

Yes, it can be done, but under certain circumstances. Especially when the price is moving fast and far away from the war zone and no pullback is possible what so ever. Also during major news release times.

I know some people are successful trading until one minute chart with this is that but I just don't like it. I got burned too many times, and one should know when to use it.

There are many example posted this thread of one minute charts - please go and have a look or change your chart to a one minute chart and do some backtesting

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,817
  • Jul 10, 2008 8:00am Jul 10, 2008 8:00am

Break

Quoting eyevoltage
Only 4 pips gained, with entry based chiefly on MACD TC. A little too near the M2 line for my liking, but worth it for the experience, as I'm not used to this indicator yet.


Hi EYE

Great trade - all according to the rules for a high probability trade.

And yes, that pivot line was in the way. Also, once you see the price bouncing off the above pivot line (like the one on your chart), try and get an earlier entry. I know it's not that easy, but just give it a try. You will know that sometimes you need to take an earlier entry - don't worry about it. This one was really not that easy.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,818
  • Jul 10, 2008 8:07am Jul 10, 2008 8:07am
Quoting thang822462
Hey,It is my position.In the down trend,I have only 1 position.very litle.
10 pips for m.Hix.
What the method you take profits??
I uaually take profits by move Stoploss.
Hi Th

I am still doing it the old-fashioned way - as intended by Phillip - a 10pip system. 10pips profit on EUR, 12pips for Cable and 15pips for EY. But then sometimes I do close my trades manually according to the setup and signals I do see on the charts.

It will also vary according to the type of setup taken - I don't think there is a specific rule for this.

But once again, it is all about personal style and preferences. You need to look what is working for you.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,819
  • Jul 10, 2008 8:29am Jul 10, 2008 8:29am
It's very interesting to notice how my add on works well when it is in synergy with the smangle and the macdcolored v102.
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  • #4,820
  • Jul 10, 2008 8:39am Jul 10, 2008 8:39am
Another perfect entry (EU) at the pivot, will post my chart later. Entered with double size as this was another 90% trade...

Regards - Xaron
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