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5Min Intraday System

  • #5,061
  • Jul 30, 2008 5:22am Jul 30, 2008 5:22am
Quoting mkain
I took this traingle today in e/u , I forgot consider the big divergence before enter.
Result -13 .
Hi Mkain

Just one comment as well - look at the activities on the wrong side of the 21 on the chart itself just before your entry as well. See my comments on Moreland's chart as well.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,062
  • Jul 30, 2008 7:21am Jul 30, 2008 7:21am
Quoting mkain
I took this traingle today in e/u , I forgot consider the big divergence before enter.
Result -13 .
Same setup, same losses. I think it's also because bad news coming out at that specific time. Lesson of today: never trade during news announcements
  • #5,063
  • Jul 30, 2008 7:30am Jul 30, 2008 7:30am
Quoting eraserhead
Same setup, same losses. I think it's also because bad news coming out at that specific time. Lesson of today: never trade during news announcements
I learnt same lesson in painful way a long time ago, I just took this trade because it was e/u and news at that time were related with Chf but it seems they had some inflluence in Eur too.
  • #5,064
  • Jul 30, 2008 7:34am Jul 30, 2008 7:34am
Quoting mkain
I learnt same lesson in painful way a long time ago, I just took this trade because it was e/u and news at that time were related with Chf but it seems they had some inflluence in Eur too.
I think news was about Consumer Confidence in Europe and the results are more negative than expected
  • #5,065
  • Jul 30, 2008 9:30am Jul 30, 2008 9:30am
Quoting eraserhead
hi there, I'm totally new here and definitely in love wiht phillip's trading systems.

I really like the idea to trade through my smartphone. I started using MT4 on it and it's pure fun. Yesterday I made 100 pips with the massive down of the EUR just looking at the MACD 4H. Ok I know I'm going out of the thread, so here's the question:

can somebody confirm that it is not possible to add indicators and templates in MT4 for Smartphones? I would like to add the SMAAngle. I've tried but there's no "experts" folder etc...

Thanks
Davide
I am also using my phone to trade with Interbankfx and I am doing it the old fasion way without the SMAangle. I haven't ask Interbankfx because I also looked at the options to add indicators and there wasn't an option.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,066
  • Jul 30, 2008 2:34pm Jul 30, 2008 2:34pm
hi
this is an example that shows how MACD saved me from a wrong trade.
Attached Image (click to enlarge)
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  • #5,067
  • Jul 30, 2008 3:11pm Jul 30, 2008 3:11pm
Great example of a ascending triangle trade - look at how nice the higher lows are given you an indication that the triangle is forming, beautiful.

My entry was way too early - on the 1st TC taken with 21 still in non-trade zone on SMAangle. The 2nd TC was the better entry.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080730 5min trade 1.1.JPG Size: 108 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,068
  • Jul 30, 2008 3:13pm Jul 30, 2008 3:13pm
Quoting bshadroo
hi
this is an example that shows how MACD saved me from a wrong trade.
Great analysis and usage of the MACD. Small resistance line also would have kept you out of that setup.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,069
  • Jul 30, 2008 3:40pm Jul 30, 2008 3:40pm
Quoting Golfer
Great example of a ascending triangle trade - look at how nice the higher lows are given you an indication that the triangle is forming, beautiful.

My entry was way too early - on the 1st TC taken with 21 still in non-trade zone on SMAangle. The 2nd TC was the better entry.
i have also an entry today when 21 was in nontrade zone,bigger TF and price action with the TL(support)encouraged me to enter more.
i took 8pips profit
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 26 KB
  • #5,070
  • Edited 8:33pm Jul 30, 2008 6:56pm | Edited 8:33pm
Quoting bshadroo
i have also an entry today when 21 was in nontrade zone,bigger TF and price action with the TL(support)encouraged me to enter more.
i took 8pips profit
Nice trendline!!!!!!! and Willem thanks for your input
Raymond
  • #5,071
  • Jul 31, 2008 1:42am Jul 31, 2008 1:42am
Entry long at 60. Picture tells the story.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080731 eur.gif Size: 15 KB
  • #5,072
  • Jul 31, 2008 3:41am Jul 31, 2008 3:41am
hi everyone i'm doing this trade how do u think.
Attached Image (click to enlarge)
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  • #5,073
  • Jul 31, 2008 3:52am Jul 31, 2008 3:52am
Quoting poplar
hi everyone i'm doing this trade how do u think.
After such strong bearish candles I think it's better wait for a nice pattern (ellipse, doji + power candle, etc) instead use one candle entry.
  • #5,074
  • Jul 31, 2008 4:07am Jul 31, 2008 4:07am
Quoting poplar
hi everyone i'm doing this trade how do u think.
i did the same mistake and result : -10pips , now price is making a triangle in M15 TF and im waiting to a breakout
  • #5,075
  • Jul 31, 2008 4:18am Jul 31, 2008 4:18am
Quoting poplar
hi everyone i'm doing this trade how do u think.
My comments (other that yours - which were all valid signals:

1. Setup still above small support line

2. This was a Classic 2-candle entry which is no longer my favourite entry method.

3. I've highlighted all the TC - none was tradeable for me.

4. No other price pattern visible on this setup - just an ordinary pullback into the war zone.
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,076
  • Jul 31, 2008 4:46am Jul 31, 2008 4:46am
thx for all of your comment, i think i need more patient. Want to ask Golfer, is classic 2 candle entry is not very reliable even if macd support it?
  • #5,077
  • Jul 31, 2008 4:55am Jul 31, 2008 4:55am
Quoting poplar
thx for all of your comment, i think i need more patient. Want to ask Golfer, is classic 2 candle entry is not very reliable even if macd support it?
Hi Poplar

Yes, the 2-candle entry method is a recognized and reliable method of entry but I just don't like it. I got burned too many times using it but I know there are people using it.

If the MACD give confirmations signal, yes you can take. Play around with it and see if you like this method of entry. I just like to see more positive signals for my entry.

And yes you are so right, patience is the name of the game for this five-minute system. In the past, I was very impatient - and it cost me dearly. Nowadays, I am more conservative with my entries.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,078
  • Edited 11:58am Jul 31, 2008 11:15am | Edited 11:58am
Quoting fxjourney
OK, there are 3 files you require to run a chart:

1. 5min intraday method.tpl - this is the template file
2. PhilNelSignals.ex4 - the indicator that paints entry signals on the chart
3. SMAAngle.ex4 - the indicator that works in conjunction with 2.

First and foremost - special thanks to Dariuske for the development of the indicators.

File 1. must be copied into the 'template' folder of MT4
File 2. and 3. must be copied into the 'experts/indicators' folder

Once you have done this restart MT4 and open a new eur/usd or cable chart. Then place the cursor on the chart and right click - select 'templates' and then select the 5min intraday method' template. MT4 will do the rest.

Please let me know if you have problems.

Thanks

Hi ! I am a newbie both to TA and forex. I somehow stumbled upon this thread . I found this trading interesting and wanted to 'test drive' this system.

I followed the above instructions and by trial and error managed to get the step (1) into my MT4. However, I am not familiar with the MT4 and I just don't know how to copy step (2) and (3) into MT4 . How do I locate 'experts/indicators' folder ?

I am using the demo version of MT4

Can anyone familiar with the procedure help me with this ?

Thanks a million !
Attached Image (click to enlarge)
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  • #5,079
  • Jul 31, 2008 12:50pm Jul 31, 2008 12:50pm
Quoting TheArcher
Hi ! I am a newbie both to TA and forex. I somehow stumbled upon this thread . I found this trading interesting and wanted to 'test drive' this system.

I followed the above instructions and by trial and error managed to get the step (1) into my MT4. However, I am not familiar with the MT4 and I just don't know how to copy step (2) and (3) into MT4 . How do I locate 'experts/indicators' folder ?

I am using the demo version of MT4

Can anyone familiar with the procedure help me with this ?

Thanks a million !
Welcome and I hope you'll enjoy it.

There are several great web sites explaining the mechanisms of the MT4 platform - even here on forex factory. Just do a search.

Next please look on page 1 for My Rules and Appendices - I am sure you'll find everything there to build your chart. All the indicators' links are also posted on page 1.

I hope it helps.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,080
  • Jul 31, 2008 1:02pm Jul 31, 2008 1:02pm
I saw this run on EJ after I arrived home today - didn't trade, limited Internet connection.

a, b & c were the TCs I would have entered. Remember the entry is on the opening of the candle above each line I've drawn indicating the TCs on this run.

Hope some of you got some pips from my favourite pair.

Edit 1: The sell trade you see on the chart is one of my other EA's trade - not this 5min system's trade. Please don't get confused.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080731 ey.1.JPG Size: 107 KB
Click to Enlarge Name: 20080731 eya.gif Size: 33 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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