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5Min Intraday System

  • #4,881
  • Jul 14, 2008 11:25pm Jul 14, 2008 11:25pm
Quoting Golfer
Hi Mike

Additional guidelines of My Rules 4th edition, bullet 7.7 - link is on page 1.

Looking for an exit 6 candles after your entry because the market is going nowhere.
Had a trade that went against me 8 pips from the outset. With the next candle beinging the price back to entry level, I had no hesistation in closing for small loss.

This highlight Golfer's 'negative signals' rule. Sometimes you just have to GTFO. (Get the FU*& Out)
  • #4,882
  • Jul 15, 2008 1:25am Jul 15, 2008 1:25am
Hi emacro,

can you post a chart please?

Quoting emacro
Had a trade that went against me 8 pips from the outset. With the next candle beinging the price back to entry level, I had no hesistation in closing for small loss.

This highlight Golfer's 'negative signals' rule. Sometimes you just have to GTFO. (Get the FU*& Out)
  • #4,883
  • Jul 15, 2008 1:29am Jul 15, 2008 1:29am
It was around 7 or 8pm local time here, which is around 1200 gmt I think. Sorry didn't take a snapshot of the chart, but I do know the bars became bigger after I entered, which gave me warning bells to GTFO.
  • #4,884
  • Jul 15, 2008 2:15am Jul 15, 2008 2:15am
Hi all,

I add some more statistical data to my trades from now on. It's always important to know how much a trades goes into the deep.

My trades yesterday:

The first one wasn't a trade valid for this system but it's on the screenshot so anyway... It was a loser.

#1: EUR/USD
Entry: Long @1.58870
Close: 1.58670
Reason: Pullback to Pivot at 1.55830
SL: 20.0
TP: -
Spread: 0.9
Max minus:
Max plus: +2.5 pips
Result: -20.0 pips

#2: EUR/USD
Entry: Short @1.58791
Close: 1.58664
Reason: Pullback into the zone, Pivot as resistance!
SL: 20.0
TP: -
Spread: 0.9
Max minus: -11.4 pips
Max plus:
Result: +12.7 pips

#3: EUR/USD
Entry: Short @1.58634
Close: 1.58629
Reason: Pullback into the zone
SL: 20.0
TP: -
Spread: 0.9
Max minus: -7.3 pips
Max plus: +7.9 pips
Result: +0.5 pips

#4: EUR/USD
Entry: Long @1.58623
Close 1: 1.58729
Close 2: 1.58801
Reason: Pullback into the zone, target: Pivot
SL: 20.0
TP: -
Spread: 0.9
Max minus: -4.6 pips
Max plus:
Result: +14.2 pips

http://www.xaron.net/dl/fx/2008/intr...usd_140708.png

Regards - Xaron
  • #4,885
  • Jul 15, 2008 3:59am Jul 15, 2008 3:59am
0900 gmt I see possible church pattern on cable. Looking for power bar.

But if it drags on too long the sideways consolidation, be careful.
  • #4,886
  • Jul 15, 2008 4:07am Jul 15, 2008 4:07am
Holding on!
Attached Image (click to enlarge)
Click to Enlarge Name: 20080715 gbpusd.gif Size: 14 KB
  • #4,887
  • Jul 15, 2008 4:14am Jul 15, 2008 4:14am
out for 10 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080715 gbpusd 2.gif Size: 14 KB
  • #4,888
  • Jul 15, 2008 4:30am Jul 15, 2008 4:30am
Bah... F!"§$%ing Spread widening at Oanda.

But reentered and made it back...

http://www.xaron.net/dl/fx/2008/intr...d_150708_1.png

Regards - Xaron
  • #4,889
  • Edited 5:11am Jul 15, 2008 5:01am | Edited 5:11am
Here is my second posted trade. Missed the TC on the MACD by 1 pip, but it the power candle and the trend line were calling me. I got scared and took only 4 pips, but at least it is something in the positive
Attached Image (click to enlarge)
Click to Enlarge Name: 5min2.gif Size: 26 KB
  • #4,890
  • Jul 15, 2008 5:27am Jul 15, 2008 5:27am
Quoting emacro
Sometimes you just have to GTFO. (Get the FU*& Out)
Eloquently put, old chap.

  • #4,891
  • Jul 15, 2008 7:00am Jul 15, 2008 7:00am
Enough for today. My trades:

#1: EUR/USD
Entry: Long @1.59428
Close: 1.59520
Remarks: Pullback into the zone
SL: 20.0
TP: -
Spread: 0.9
Max minus: -2.9 pips
Max plus:
Result: +9.2 pips

#2: EUR/USD
Entry: Long @1.59818
Close: 1.59518
Remarks: Pullback into the zone, got stopped out due to spread widening and a deep spike (only at Oanda!)
SL: 30.0
TP: -
Spread: 0.9
Max minus:
Max plus: +4.5 pips
Result: -30.0 pips

#3: EUR/USD
Entry: Long @1.59721
Close 1: 1.58927 (+20.6)
Close 2: 1.60145 (+42.4)
Remarks: Reentry after news. The dollar is dead. Closed the second half of the position below the all time high.
SL: 20.0
TP: -
Spread: 2.5
Max minus:
Max plus:
Result: +31.5 pips

#4: EUR/USD
Entry: Long @1.60051
Close: 1.60160
Remarks: Pullback into the zone after a new higher high / lower low.
SL: 20.0
TP: -
Spread: 0.9
Max minus: -13.2 pips
Max plus:
Result: +10.9 pips

http://www.xaron.net/dl/fx/2008/intr...d_150708_2.png

Regards - Xaron
  • #4,892
  • Jul 15, 2008 7:56am Jul 15, 2008 7:56am
Quote
Remarks: Pullback into the zone, got stopped out due to spread widening and a deep spike (only at Oanda!)

Not only at Oanda (see attached picture)

MACD gave a clear TC signal just after the spike. I would go long at 11.05 (doji)
Attached Image (click to enlarge)
Click to Enlarge Name: spike.gif Size: 23 KB
  • #4,893
  • Jul 15, 2008 8:31am Jul 15, 2008 8:31am
Quoting 3trader
Not only at Oanda (see attached picture)

MACD gave a clear TC signal just after the spike. I would go long at 11.05 (doji)
Yes, after that tail and the TC was a zero break.

Just one comment - I don't see the 10 or 21MA on your chart or am I wrong?
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,894
  • Jul 15, 2008 8:47am Jul 15, 2008 8:47am
Quoting 3trader
Not only at Oanda (see attached picture)
Yep, but only at Oanda it went down to 1.5950(!), about 4-5 pips deeper than at other places... Enough to take out my stop at 1.5951. But that's live, I don't want to complain here. *gg*

Regards - Xaron
  • #4,895
  • Jul 15, 2008 8:47am Jul 15, 2008 8:47am
Maybe it's wrong but I've been testing EMA144 as a main trendline. If the price is above EMA144 I look for a MACD long patterns. If the price is "high enough" above EMA144 I consider short trades (counter trend) on MACD.

For me EMA144 is a very powerful indicator - but I don't want to make a mess in this great (!) topic.

By the way - Philip & Golfer - many, many thanks for all your hard work !!

I've been watching both topics for several months and I'll try to help if only I can be useful.

Greetings,
Artur
  • #4,896
  • Jul 15, 2008 10:57am Jul 15, 2008 10:57am
Quoting 3trader
Maybe it's wrong but I've been testing EMA144 as a main trendline. If the price is above EMA144 I look for a MACD long patterns. If the price is "high enough" above EMA144 I consider short trades (counter trend) on MACD.

For me EMA144 is a very powerful indicator - but I don't want to make a mess in this great (!) topic.

By the way - Philip & Golfer - many, many thanks for all your hard work !!

I've been watching both topics for several months and I'll try to help if only I can be useful.

Greetings,
Artur
Tx for explanation.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,897
  • Jul 15, 2008 11:33am Jul 15, 2008 11:33am
This was a support/resistance trade, but the moving averages were being watched as secondary guidelines. However, I wouldn't have taken the trade based on the moving averages or the MACD. I'm stretching the rules a little just so I'll have something to post! Did you know that posting can become addictive? Hopefully, it's not bad for your health. --Tony
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 5min s-r 15july2008.gif Size: 25 KB
  • #4,898
  • Jul 15, 2008 12:08pm Jul 15, 2008 12:08pm
this is my trade after TC signal for 10pips.look at trendlines and the TC signaland the resistance line at 5934.very significant
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 17 KB
  • #4,899
  • Jul 15, 2008 12:49pm Jul 15, 2008 12:49pm
Quoting OldDog
This was a support/resistance trade, but the moving averages were being watched as secondary guidelines. However, I wouldn't have taken the trade based on the moving averages or the MACD. I'm stretching the rules a little just so I'll have something to post! Did you know that posting can become addictive? Hopefully, it's not bad for your health. --Tony
Hi Tony

Believe me, Tony it is like going to the gym everyday. The excercise (plotting the charts and analise it afterwards) will only do you good. You'll see the effects in a few months time. You won't really believe/see it now.

That was how I learned this system - chart by chart by chart untill you become familiar with certain price actions.

In the past it was a bit lonely here but luckily Phillip provided support - as usually. If it wasn't for him, I would have given up already. That is why I want to give back what Phillip has done for me.

Go for it!!!!!!!!!!!!!!!!!!!!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #4,900
  • Jul 15, 2008 1:01pm Jul 15, 2008 1:01pm
Info
Attached Image (click to enlarge)
Click to Enlarge Name: 20080715 5min trade 1.1.JPG Size: 114 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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