5Min Intraday System | Page 242 | 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

  • #4,821
  • Jul 10, 2008 8:46am Jul 10, 2008 8:46am
My trades today... A good day for me. 10 pips here, 10 pips there...

http://www.xaron.net/dl/fx/2008/intr...usd_100708.png

http://www.xaron.net/dl/fx/2008/intr...jpy_100708.png

Regards - Xaron
  • #4,822
  • Jul 10, 2008 9:11am Jul 10, 2008 9:11am
Took 10 pips on this long trade. I liked the way the price was hovering around the 10 ema, which was an important factor to enter the trade.
Attached Image
  • #4,823
  • Jul 10, 2008 9:11am Jul 10, 2008 9:11am
1)Buy EurJpy. Was little risky trade. Made mistake by letting 7pips profit became a loss. -16 pips.
2)Buy EurJpy. Very risky trade. Emotional trade. I enter just after my SL hitted, and price turned back. Luckily i got profit. +10pips
3)Sell EurUsd. Entered little early. +9 pips
4)Sell GbpUsd. Candles were showing lower highs and price found resistans on 50MA. +7pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 26.eurjpy 10july.gif Size: 16 KB
Click to Enlarge Name: 27.eurjpy 10july.gif Size: 16 KB
Click to Enlarge Name: 29.eurusd 10july.gif Size: 17 KB
Click to Enlarge Name: 28.gbpusd 10july.gif Size: 16 KB
  • #4,824
  • Jul 10, 2008 9:25am Jul 10, 2008 9:25am
The eurusd is screaming skywards, continuing the move. Trading is about having the correct mindset. In this system, I view it as a 10 pip strategy. We jump in, pick up the 10 pips and move on, no regrets on lost opportunity. My opinion only, otherwise it is easy to beat oneself up and regret the missing of the 'big move'. Remember 10 pips per trade is all I am looking for. If I want more $ then use leverage to scale up.

But then this picture of this type of trade, may help one recognise the potential for the more thrusting move, maybe one day I can incorporate into the trading plan.
Attached Image
  • #4,825
  • Jul 10, 2008 9:28am Jul 10, 2008 9:28am
Quoting Sher_net
1)Buy EurJpy. Was little risky trade. Made mistake by letting 7pips profit became a loss. -16 pips.
2)Buy EurJpy. Very risky trade. Emotional trade. I enter just after my SL hitted, and price turned back. Luckily i got profit. +10pips
3)Sell EurUsd. Entered little early. +9 pips
4)Sell GbpUsd. Candles were showing lower highs and price found resistans on 50MA. +7pips
Looking much better - just that first chart/trade.

Still too many activities on the wrong side of the 21 - warning signal for me.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,826
  • Jul 10, 2008 9:31am Jul 10, 2008 9:31am
Quoting emacro
The eurusd is screaming skywards, continuing the move. Trading is about having the correct mindset. In this system, I view it as a 10 pip strategy. We jump in, pick up the 10 pips and move on, no regrets on lost opportunity. My opinion only, otherwise it is easy to beat oneself up and regret the missing of the 'big move'. Remember 10 pips per trade is all I am looking for. If I want more $ then use leverage to scale up.

But then this picture of this type of trade, may help one recognise the potential for the more thrusting move, maybe one day I can incorporate into the trading plan.
Hi Em

I got two trades from it - will post later.

Fed must have said something in the speech - was a bit worried when I saw the speech was on when I entered the first trade
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,827
  • Jul 10, 2008 9:37am Jul 10, 2008 9:37am
Quoting Golfer
Hi Em

I got two trades from it - will post later.

Fed must have said something in the speech - was a bit worried when I saw the speech was on when I entered the first trade
Efficient market hypothesis! Everything is reflected in the charts and price.

I did not even know the Fed was speaking!
  • #4,828
  • Jul 10, 2008 9:57am Jul 10, 2008 9:57am
Another 2 nice pictures.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080710 gbpusd.gif Size: 12 KB
Click to Enlarge Name: 20080710 eurjpy.gif Size: 13 KB
  • #4,829
  • Jul 10, 2008 10:19am Jul 10, 2008 10:19am
My first trade today - very interesting:

Tripple fan trendline technique:

I read an article last week from Elliot Wave International about using trendlines and it was exactly like I am doing it. So interesting to see that the market is showing signals that professionals are using but even we as amateurs can pick up as well.

I started drawning My Small resistance and support lines before I even heard about how the pros are doing it. I just saw this price pattern and when you connect the points, the price seems to find support and resistance on it.

The only difference is that this pro uses a tripple fan but on a much higher time frame. In My Rules it si stated that I can only draw another small line (only two lines are allowed on a move) - otherwise I am out for that move.

Very interesting stuff.

This is an example of the tripple fan on the 5min chart
Attached Image (click to enlarge)
Click to Enlarge Name: 200800710 5min trade 1.1.JPG Size: 115 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,830
  • Edited 10:56am Jul 10, 2008 10:37am | Edited 10:56am
this one was according my bigger TF trade but look at the beautifull triangle breakout at M5 with the TC
edit:closed -3pips
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 17 KB
  • #4,831
  • Jul 10, 2008 10:47am Jul 10, 2008 10:47am
Those two trades on EUR while the Fed was speaking.
Attached Image (click to enlarge)
Click to Enlarge Name: 200800710 5min trade 2.1.JPG Size: 109 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,832
  • Jul 10, 2008 11:33am Jul 10, 2008 11:33am
+10 on EURUSD. Took special care to work on emotions of feeling left out after the big move up. Considered I would have to be very careful with any trade after that. I love your "Watch out!" on your charts, from time to time, Willem, and have decided to use them for myself, especially where emotion is concerned.

The pattern I show on the chart is something I've experienced only with EURUSD, since that is the only pair I've been studying now, for some time. It's not so much a recommendation as part of an explanation for part of the reason I entered when I did and, especially, why I didn't wait for a TC on the MACD. I guess it might be closer to the Church to the Right formation, but you don't look for the four or five small sideways candles after the bell tower, and you do wait for the second higher high to be made, and then you have to identify support before you enter expecting a third higher high. --Tony

Edit: I quess one might have found a 3 sisters pattern along the way there.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 5min phillip 10july2008.gif Size: 25 KB
  • #4,833
  • Jul 11, 2008 3:47am Jul 11, 2008 3:47am
Hello to everybody.

At first I must say thanks to dear Phillip Nell for making such simple but effective strategy, to Golfer who took the thread over and took strategy to next level and to everybody else who were involved in improving this strategy over time.

I have read the whole thread (took me a while) and have been experimenting with the strategy for some time now but still have a room for my trading improvements. I am looking forward to involve more actively in this thread and will start to post my charts during next week.

I would also be grateful if I can be added to Skype chat - my Skype name is hherceg.

Wish many pips to all of you!
  • #4,834
  • Jul 11, 2008 4:16am Jul 11, 2008 4:16am
Quoting Hrivel
I would also be grateful if I can be added to Skype chat - my Skype name is hherceg.
Done.
Donīt live for working, but work for living.
  • #4,835
  • Jul 11, 2008 7:16am Jul 11, 2008 7:16am
long Eur/Usd 1.5811, closed trade at -14 pips

This time I didn't take partial profit as I want to practice to let the trade run (to hit target at +10)
I should have closed at least at BE as price came back quickly, or a minor loss after price closed below small support line.
There still was support from 1.5800 level and 21ema before it finally broke through.
Attached Image
  • #4,836
  • Jul 11, 2008 7:40am Jul 11, 2008 7:40am
Quoting islandtrader
long Eur/Usd 1.5811, closed trade at -14 pips
I took the same one but got out at BE... Sorry for your loss.

It's often somewhat strange. If I want to let it run, it comes back, if I take my 10 pips, it just shoots up like a rocket.

Regards - Xaron
  • #4,837
  • Jul 11, 2008 7:49am Jul 11, 2008 7:49am
I liked the small candles, so I took short with a limit order ahead of the 10ema. Stop 15 pips.
Attached Image
  • #4,838
  • Jul 11, 2008 8:18am Jul 11, 2008 8:18am
Out for -10 pips. Had 10 pips but did not take it. That is what you get for being greedy.
Attached Image
  • #4,839
  • Jul 11, 2008 8:24am Jul 11, 2008 8:24am
Entry would be on the macd TC 5 candles back. However I missed this due to the EJ trade.

The 'upwards sloping' pullbacks into the warzone are psychologically difficult to take, but can be the best ones.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080711 gbpusd.gif Size: 11 KB
  • #4,840
  • Jul 11, 2008 9:46am Jul 11, 2008 9:46am
Quoting Xaron
I took the same one but got out at BE... Sorry for your loss.

It's often somewhat strange. If I want to let it run, it comes back, if I take my 10 pips, it just shoots up like a rocket.

Regards - Xaron

LOL.. feel the same here...
2 traders viewing now