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5Min Intraday System

  • #5,101
  • Aug 2, 2008 3:05am Aug 2, 2008 3:05am
The custom indicators I am using.

Please sure you do save these indicators in the "Expert folder, Indicator folder" of your MT4 platform. Not in the "Indicator" folder. These indicators as custom made by members and should be saved in this specific folder and not in the general indicator folder.

I do use Yannis' EA to manage my trade after a manual entry. Please contact him or look for the EA in this thread. Save it in the "Expert Advisor" folder of your MT4 platform and change the setting to your liking.
Attached File(s)
File Type: ex4 ADX MTF.ex4   16 KB | 1,128 downloads
File Type: ex4 EJ_CandleTime[1]Hrs.ex4   2 KB | 962 downloads
File Type: ex4 MACDcoloredv102.ex4   7 KB | 983 downloads
File Type: ex4 Mk EMA Crossover Signal.ex4   3 KB | 1,210 downloads
File Type: ex4 MultiplePivotsV2.ex4   24 KB | 1,058 downloads
File Type: ex4 SMAAngle.ex4   3 KB | 1,514 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,102
  • Aug 2, 2008 3:10am Aug 2, 2008 3:10am
And this is my template for Phillip's 5min system. Please make sure all the custom indicators are saved correctly and then save this template in your "template" folder of MT4 platform.

Then open an new chart/existing chart. Just click on the "template" icon on your Mt4 platform and click on the template you want to use on this chart. Thenyou should have the 5min chart I am using.
Attached File(s)
File Type: tpl 5min phillip intraday eur 20080802.tpl   16 KB | 1,383 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,103
  • Aug 2, 2008 4:40am Aug 2, 2008 4:40am
Quoting Golfer
I've tried the 1min system with NFP today but it didn't work. Got out for 1pip profit.

I'll wait and see what the 5min chart brings us.
maybe i should not post this trade ,because this is a countertrend trade and not according to phillips M5 system ,but it can show how the bigger TFs can effect the M5 and M1 even during the news and should be very carefull if the bigger TF doesnt confirm the M5 trend.
u can see mylong trade below after 1-closing H1 candle 2-breaking little triangle and 21 and 3-after 3'rd big brother in M1 TF .
the main reason to going long was strong weekly TL around 1.5530 and i NEVER do that in normal situations.
i hold the position to 1.5580 and then closed it at 1.5561 after price failed to break 1.5580 level.
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  • #5,104
  • Aug 4, 2008 1:23am Aug 4, 2008 1:23am
Well, first slip ....

excited when the audio gave signal at 107.75 ...but soon turned down and hit the 107.65 for -10pips

a swallow does not make summer ?

... anyway just paper trading...let's see how it goes
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  • #5,105
  • Edited 5:07am Aug 4, 2008 4:55am | Edited 5:07am
Quoting TheArcher
Well, first slip ....

excited when the audio gave signal at 107.75 ...but soon turned down and hit the 107.65 for -10pips

a swallow does not make summer ?

... anyway just paper trading...let's see how it goes
Hi A

Thanks for your chart - only way you'll learn.

Jus a few major comments on your chart - there are a few minor issues as well but I am not going into that:

1. You need to get the basics right. Please go and study the very first link (Phillip's MP3 file) and My Rules and the Appendices as posted on page 1. Read it over and over again. It will give you the basic principles of this system.

2. Then work slowly through the entire thread looking at the charts posted and evaluate/analise them.

3. Look at your charts and see where the signal appears but don't take the trade. See why did the signal appear. Don't trust the signals and don't just enter (for future reference). This system cannot be traded by using signals. It needs the human factor - otherwise you'll get burned badly. That is why you need to understand this system. It took my more than 1 year to become familiar with the system.

4. Look at my two posts on top of this pages and get your charts right - the 21MA must be on the SMAangle. But once you have all the necessary indicators and template correctly downloaded, it is not necessary to build the chart. You can just use the template and your chart will look like mine. Then you can change it and save it as your template.

I hope it helps you
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,106
  • Edited 7:56am Aug 4, 2008 7:31am | Edited 7:56am
Thank you, Thank you, Golfer !

Now I get a time-frame for learning this set-up : it took you 1 year to get familiar, so I need to do a lot of homework here as I am also new to TA . OK, one step at a time.

Like u said, let me go back to the drawing board.

Anyway , before reading ur post, I had captured the latest chart. Smiled that the signals were there for the 10 pips for today.

The 2nd signal will give +10 pips and the 3rd signal another +10pips . But of course, our target should be 10 pips per day. Take the 10 pips and shut out the rest . So, paper trade for today would be -10+10+10 = 10 pips !

Actually I just turned on pc and excited to see the +10pips and thought of posting the chart .So, here is the chart.

Maybe u could comment on the charts for some more valuable lessons : )

Thank You , O , Big Strong Friendly One ! : )
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  • #5,107
  • Aug 4, 2008 8:49am Aug 4, 2008 8:49am
Quoting TheArcher
Thank you, Thank you, Golfer !

Now I get a time-frame for learning this set-up : it took you 1 year to get familiar, so I need to do a lot of homework here as I am also new to TA . OK, one step at a time.

Like u said, let me go back to the drawing board.

Anyway , before reading ur post, I had captured the latest chart. Smiled that the signals were there for the 10 pips for today.

The 2nd signal will give +10 pips and the 3rd signal another +10pips . But of course, our target should be 10 pips per day. Take the 10 pips and shut out the rest . So, paper trade for today would be -10+10+10 = 10 pips !

Actually I just turned on pc and excited to see the +10pips and thought of posting the chart .So, here is the chart.

Maybe u could comment on the charts for some more valuable lessons : )

Thank You , O , Big Strong Friendly One ! : )
Right, now it is your turn to give comments but first go through your home work.

Next time you should be able to tell us why did you make 10pips profit and what were the positive and negative signals (not the dots) on your chart?

It is useless for me/other members to comment on your charts without any input from your side. That is why I don't like people asking: "What do you think about this setup?" without given any opinion. I tend to ignore such comments. I want to know why is the member interested in that specific setup? What was calling him/her to look at the specific setup (the signals)?

That is only way to learn this system and forex trading. Develop your own opinion about a setup/system and then benchmark it against the opinion of other people. In that way you'll develop your own style of trading within certain principles and rules.

Go for it!!!!!!!!!!!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,108
  • Aug 4, 2008 10:18am Aug 4, 2008 10:18am
Hello, thanks Golfer for the indicators!

I personally I like to operate in 15min, it's like I feel better!

What I look at the SMA 50 in 4h, to see the resistance, or would have to look at the same graph that gives me the signal? osea in 15min?

I also believe that it is a good sign when the 3 moving averages are aligned, is below the yellow when buying and selling is situated above!

corrigeme if I am wrong, you teach my staff and with some signal, if I can explain how to take my graphic? thank you very much, a greeting.






»
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  • #5,109
  • Aug 4, 2008 10:59am Aug 4, 2008 10:59am
Entered on rhythm and a pullback to the 10and 21ema. Stoploss was just above the 50sma. Set it on a 15trailing stop. This was a classic move to the upside and a sudden turnaround. I took the odds on.
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  • #5,110
  • Edited 12:01pm Aug 4, 2008 11:43am | Edited 12:01pm
Golfer, thank you very much for the encouragement .

Maybe its too early for me to comment as I have not gone thru all of the articles on page one and the other postings. Besides my TA is at best rudimentary.

But anyway let me attempt to answer this :

I want to know why is the member interested in that specific setup? What was calling him/her to look at the specific setup (the signals)?

maybe the above question was meant for a specific entry , but maybe let me explain broadly why I liked the PhillipNel System :

the simplicity of the the SMA and the EMAs : what grapped me visually was the MAs and the 20 degrees

Let me explain. In the beginning, all 3 three are almost flat , and then they branch out slightly upwards . When the 'backbone' 50SMA lifts to greater than 20 degrees, get ready and after sometime when the candles retrace between the ema10 and ema 21 , with the 'backbone' 50SMA still maintaining greater or equal to 20 degress , 'buy' and ride the wave up to lock in +10 pips .

I wasn't thinking about shorting (riding the downtrend) , to me, at this point, a bit complicated. for the time being stick to just one way and up ! : )

This is how I understand the concept (for the moment) . And I thought it so simple even a child can understand . no sophisticated crossings and various candlesticks jargon like doji, bullsih piercing, etc

Of course, I am prepared to loss the 10 pips if it becomes so , because from the random postings I read so far , I just trust that this method will give more positive than negative pips. So just having faith until proven wrong ! : )

This is why I liked this setup. My thinking is ,"let's use this as a base/reference point for learning TA and chart reading " And of course, the audio alert and the dots were bonus !

Ok , that is my piece for now !

Once again , thank you very much !
  • #5,111
  • Aug 4, 2008 11:49am Aug 4, 2008 11:49am
my eu trade:
result -20pips
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  • #5,112
  • Aug 4, 2008 1:31pm Aug 4, 2008 1:31pm
I saw this pullback on Cable before I saw Phillip's trade. I saw the smooth turn around - smooth round bottom. Usually a negative signal for me. The reason why I wouldn't/didn't take the trade on the next TC.
Attached Image(s) (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,113
  • Aug 4, 2008 1:46pm Aug 4, 2008 1:46pm
Quoting bshadroo
my eu trade:
result -20pips
Hi Bs

Very interesting setup, I don't think there was anything wrong with that trade. It looks like more positive than negative signals. Jus one of those trade that went the other way.

By the way - wow - that was a beauty of a Bearish 3 pattern. Long time since I saw a beauty like that.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080804 eur 1.1.JPG Size: 110 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,114
  • Aug 4, 2008 3:44pm Aug 4, 2008 3:44pm
Quoting Golfer
Hi Bs

Very interesting setup, I don't think there was anything wrong with that trade. It looks like more positive than negative signals. Jus one of those trade that went the other way.

By the way - wow - that was a beauty of a Bearish 3 pattern. Long time since I saw a beauty like that.
took the same setup, took the same loss. Probably this bearish pattern is the result of the oil below 120$. Does anybody agree?
  • #5,115
  • Aug 4, 2008 7:21pm Aug 4, 2008 7:21pm
Quoting bshadroo
my eu trade:
result -20pips
I took the same set up.. i got -8. I should have exit much early after the 3rd bullish candle fail to go through the open of the big bearish candle and there is high probability the bearish 3 pattern will form. Learned something today..
  • #5,116
  • Aug 5, 2008 12:51am Aug 5, 2008 12:51am
Quoting eraserhead
took the same setup, took the same loss. Probably this bearish pattern is the result of the oil below 120$. Does anybody agree?
Sorry but I am not really into fundamentals. However I do keep an eye on the news releases.

The price actions are very important to me - like Phillip's trade yesterday posted on the previous page. All about market rhythm. The stuff I am currently trying to understand by studying my 3 pairs - only 3 pairs. Believe me, it is not that easy.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,117
  • Aug 5, 2008 7:11am Aug 5, 2008 7:11am
Does anybody plan on sitting on the sidelines on this Fed Rate day? Might be rough waters...
Money missed is better than money lost
  • #5,118
  • Aug 5, 2008 8:19am Aug 5, 2008 8:19am
Quoting Dahlia
Does anybody plan on sitting on the sidelines on this Fed Rate day? Might be rough waters...
I didn't catch any setups today and I'll wait until after the anouncement before taking a trade - as usual. Lets see what price actions can come after the annoucement - I will only trade according to The Rules.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,119
  • Aug 5, 2008 10:59am Aug 5, 2008 10:59am
EY setup I was following today - didn't enter because it was a classic 2-candle entry (formed by 3 candles).
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,120
  • Aug 5, 2008 11:45am Aug 5, 2008 11:45am
A series of pictures to show people how a TC develops. I didn't take the setup because I I didn't like the tail and I couldn't follow the trade live after the 3rd chart.
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Willem Forex recipe for success = Patience, discipline & hard work.
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