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5Min Intraday System

  • #5,341
  • Sep 10, 2008 1:40am Sep 10, 2008 1:40am
Quoting Morelands
I was trying for the 3 little sister, but I got stopped out

Edit: Any comment on my trade or advise would be greatly appreciated. Was I too early? I was looking at golfers trade and it looked like a similar entry. Some trades I know just to bad, but if I can improve I always want to
Just a correction - it was a 3 big brothers pattern (going upwards). The 3 little sisters are going downwards. Just to make sure people are not confused.

Just remember that this a kind of CT (counter trend) trade and it is very risky. Just like the 3 little sisters. And you will have more negative trades.

I don't really see any major negative points in the trade - maybe other members have other opinions.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,342
  • Sep 10, 2008 5:10am Sep 10, 2008 5:10am
A quick 10 pips
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  • #5,343
  • Sep 10, 2008 11:24am Sep 10, 2008 11:24am
Examples of two trades:

1st trade - following the rules and waiting for a price pattern

2nd trade - don't follow the rules and try to enter on a movement upwards. Just to show you people what happens with a lack of discipline and patience. I didn't even mention the tail!

Two examples of how one can trade this system - be successful or blow your account. It is up to you to decide.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080910 5min trade 1.1.JPG Size: 108 KB
Click to Enlarge Name: 20080910 5min trade 2.1.JPG Size: 120 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,344
  • Sep 10, 2008 2:08pm Sep 10, 2008 2:08pm
Avoid trying to use this system during days like today:

1. No signs of support/resistance found on MAs

2. No real price patterns

3. Too many SIDMOVs - your SL will be triggered before the market will continue in your original direction. Very frustating.

4. Lack of market rhythm.

Try another scalping system when markets look like this. Be warned - you'll get burned if you try and trade markets like this with this 5min system.
Attached Image (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,345
  • Sep 11, 2008 5:27am Sep 11, 2008 5:27am
Quoting sergiu
How do you determine the 20 degree angle?
Start Metatrader 4.0, go to the "Insert" menu, pull it down and go to "Lines" then "Trendline by Angle". Click on Trendline by Angle and place it on the chart.

You can set the angle to 20 degrees. Also remember, 340 degrees is the same as 20.

Slide the line over next to the 50 period SMA and you can eyeball the rest.

Does this help?

Tom Trader
  • #5,346
  • Sep 11, 2008 7:08am Sep 11, 2008 7:08am
Support at the pivot and an ellipse. 6 pips before the trading started to look goofy.
Attached Image
  • #5,347
  • Sep 11, 2008 7:31am Sep 11, 2008 7:31am
20 pips gu
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  • #5,348
  • Sep 11, 2008 8:56am Sep 11, 2008 8:56am
Quoting mdowd
Support at the pivot and an ellipse. 6 pips before the trading started to look goofy.
Yes, it is not easy trading this system in the past few days. Well done with your profit and be happy.

If you don't follow your rules in market conditions like this, you'll get burned.

Well done Bs, with that 20pips.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,349
  • Sep 11, 2008 11:47pm Sep 11, 2008 11:47pm
Nice system, will try on my demo.
  • #5,350
  • Sep 12, 2008 2:05am Sep 12, 2008 2:05am
Hello all,

anyone out there have any indicator that show overboard and over sole?
  • #5,351
  • Sep 12, 2008 3:00am Sep 12, 2008 3:00am
Quoting terunaku
Nice system, will try on my demo.
Hi Ter

Welcome to this system. Looking forward to see your results/charts and your intepretation/usage of the system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,352
  • Sep 12, 2008 3:10am Sep 12, 2008 3:10am
Here is my trade for today. I was one pip away from a TC on the MACD, but I really liked the tail off of the 21. I got out after 20 pips
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  • #5,353
  • Sep 12, 2008 3:16am Sep 12, 2008 3:16am
10pips with TC signal,i was following the bigger TF and a TL in H1 was broken before
Attached Image (click to enlarge)
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  • #5,354
  • Edited 3:34am Sep 12, 2008 3:19am | Edited 3:34am
Quoting Morelands
Here is my trade for today. I was one pip away from a TC on the MACD, but I really liked the tail off of the 21. I got out after 20 pips
very nice trade man .i was watching both usdcad and eurusd and i was afraid of 21ema in H4 for eurusd so i decide to enter usdcad but eur flied up very faster and more and i wish i'v enter the eu trade
well done to u

edit:
wow..... what a perfect trade ,there are 5 reasons to go long .look at the picture below
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
  • #5,355
  • Sep 12, 2008 3:39am Sep 12, 2008 3:39am
Quoting bshadroo
very nice trade man .i was watching both usdcad and eurusd and i was afraid of 21ema in H4 for eurusd so i decide to enter usdcad but eur flied up very faster and more and i wish i'v enter the eu trade
well done to u

edit:
wow..... what a perfect trade ,there are 5 reasons to go long .look at the picture below
morelands:
look at how it goes up after that M5 TC with the M1 TL and TCs.i saw that many times in strong trends like this one
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB
  • #5,356
  • Sep 12, 2008 4:14am Sep 12, 2008 4:14am
I took the EY setup - see comments on chart. I missed the 1st TC after the Church to right formation but caught the second one.

I marked all the TC on the charts - entries should have been on the opening of the candles above the lines. The 3rd TC was a beauty with a lateral movement of the candles for about 4 candles before continue upwards.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080912 5min trade 1.1.JPG Size: 120 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,357
  • Sep 12, 2008 4:16am Sep 12, 2008 4:16am
Quoting Morelands
Here is my trade for today. I was one pip away from a TC on the MACD, but I really liked the tail off of the 21. I got out after 20 pips
Great TC trade!!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,358
  • Sep 12, 2008 4:20am Sep 12, 2008 4:20am
Quoting bshadroo
10pips with TC signal,i was following the bigger TF and a TL in H1 was broken before
What a nice smooth TC - almost bounce off the zero line.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,359
  • Sep 12, 2008 4:23am Sep 12, 2008 4:23am
Quoting bshadroo
morelands:
look at how it goes up after that M5 TC with the M1 TL and TCs.i saw that many times in strong trends like this one
Yes, these channels are very helpful. I am also starting to use them as part of my Small support and resistance lines. To look for breakout.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,360
  • Edited 3:04pm Sep 12, 2008 11:00am | Edited 3:04pm
SORRY. I THOUGHT THE PDF WAS INCLUDED IN THE ZIP FILE


The really bad trades(2-3 of them) was when I had to leave the computor with a trade still open and could not close it early but it went all the way to my stoploss.

I have added some trades on the EurUsd I would have made if I was trading live on this 5min strategy.
Attached File(s)
File Type: zip 5Min Rythm.zip   825 KB | 1,545 downloads
File Type: pdf DetailedStatement.pdf   45 KB | 972 downloads
File Type: pdf 5Min 8-12Sept2008 EurUsd.pdf   183 KB | 1,110 downloads
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