5Min Intraday System | Page 269 | 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

  • #5,361
  • Sep 12, 2008 2:21pm Sep 12, 2008 2:21pm
THANK YOU so much Mr. Nell for all your hard work on this thread and the 4 hour thread. I have learned a great deal from you the past few months. I haven't been trading for very long but what I have learned from you on market rythym, it is the key to anyone's success in this tough forex market! I enjoy GREATLY listening to all your broadcasts; I wish there could be more every week. I try to digest every word you speak so hopefully in the near future I can be half as successful as you are. It makes me feel more confident in my decision making when I here it from the master. I do have a question about today's broadcast - I don't see the 64 trades you are talking about. Am I missing something? Thanks again for all your hard work, it is greatly appreciated !!
  • #5,362
  • Sep 13, 2008 9:42am Sep 13, 2008 9:42am
Quoting Phillip Nel
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.
nice to see u here again and thx for the information
  • #5,363
  • Sep 13, 2008 9:58pm Sep 13, 2008 9:58pm
thanks to Nel...
for the nice system
  • #5,364
  • Sep 14, 2008 5:04am Sep 14, 2008 5:04am
Hi Phillip,

Thanks for your post about Market rhythm, it is one of the most valuable finds for my trading.
  • #5,365
  • Sep 15, 2008 1:57am Sep 15, 2008 1:57am
hi dear phillip
i see u dont use MACD in m5 charts .can i ask u why please?
thx
  • #5,366
  • Sep 15, 2008 5:45am Sep 15, 2008 5:45am
More good trades today. One of many for 12 pips
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 15 KB
  • #5,367
  • Sep 15, 2008 5:58am Sep 15, 2008 5:58am
Hi everyone

Beautiful three sisters on eur usd;

I wish I'd trade it; I'll take it next time
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 15_09.gif Size: 15 KB
  • #5,368
  • Edited 7:16am Sep 15, 2008 6:01am | Edited 7:16am
Quoting bshadroo
hi dear phillip
i see u dont use MACD in m5 charts .can i ask u why please?
thx
I know the 5min rhythm and exactly where I want to make my entries therefore I dont use the MACD. If you are still hesitant to take trades then the MACD will help you. That is all why it was introduced.
  • #5,369
  • Edited 3:25pm Sep 15, 2008 6:23am | Edited 3:25pm
hi . just took 10 pips on gu . small power candle but liked the rounding with small candles and resistance along the 10ema. 11.10 ccandle on gmt interbank, having a problem uploading the chart will post it later.

enter 1.7893
sl 1.7908
tp 1.7883

EDIT: i am still having problems with charts, sorry about that.
Took another trade short on EURO for 8 pips. 12.25 gmt power candle close just below a trendline small profit target. to another trend line below. Anticipate price to go up from the trend line below. Got lucky because it was news time.and i did not check. Usually i stay out at news time, ignorance paid off this time but will not make a habit of it.

Edit: i see everyone can post charts but i still cant, i have contacted the website. I guess it is my punishment for staying away from the thread hehehe !!!

Yeah finally. the first chart is gu and second one is euro.on the euro a risky move, Too many candles to be a church to the right but the tail to the top was a sign for a few pips .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 10pips.jpg Size: 208 KB
Click to Enlarge Name: euro 8 pips.jpg Size: 233 KB
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,370
  • Sep 15, 2008 7:39am Sep 15, 2008 7:39am
Quoting BIL2205
hi . just took 10 pips on gu . small power candle but liked the rounding with small candles and resistance along the 10ema. 11.10 ccandle on gmt interbank, having a problem uploading the chart will post it later.

enter 1.7893
sl 1.7908
tp 1.7883

Edit
Sorry Nadia. Only saw after the post that I actually replied on your post. It was intended to be a new post.
Thanks

I have spend some time on the 5min today and realised that the 5min candles have increased in pips quite a bit lately. That makes it difficult to have a 6-10pip stop with spread added. I have traded the 5min today and at times my stop was above 20pips and I could not actually trade with stops less than that. Maybe someone can have a look into this and come up with a solution.
  • #5,371
  • Edited 7:56am Sep 15, 2008 7:45am | Edited 7:56am
Hey no worries it is an honour to be replied to by you even if it is by mistake, hehehe .
Yes stop loss has been increased lately. 15- 20. even the gu trade i had a 15 stop loss for 10 pips profit.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #5,372
  • Sep 15, 2008 8:24am Sep 15, 2008 8:24am
well,time to show u a breakeven(usdcad) and a -11pips (usdjpy) trades .plz help me to know where was i wrong
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
Click to Enlarge Name: eu1.gif Size: 20 KB
  • #5,373
  • Edited 8:43am Sep 15, 2008 8:29am | Edited 8:43am
Quoting Phillip Nel
Edit
Sorry Nadia. Only saw after the post that I actually replied on your post. It was intended to be a new post.
Thanks

I have spend some time on the 5min today and realised that the 5min candles have increased in pips quite a bit lately. That makes it difficult to have a 6-10pip stop with spread added. I have traded the 5min today and at times my stop was above 20pips and I could not actually trade with stops less than that. Maybe someone can have a look into this and come up with a solution.
YESSS
i recongnize that and i think market will come to the normal situation soon or late.it usually happends in the big profit takings (like now wich eu moved from 1.6 to 1.38 very fast or last year's august for carry trades)but in this time there is no way to put a 10pips stoploss ,it will be hitted for sure maybe decreasing the contract size is the solution.it means one can trade 1/2 lot (if he always trading 1lot)and put 20pips SL and 20pips TP.
  • #5,374
  • Sep 15, 2008 9:08am Sep 15, 2008 9:08am
Just another quick breakout trade (?flag pattern) on Cable - not waiting for TC but traded on the price pattern. Could also be seen as a Bearish 3 pattern.

WOW, what a few days of movements. I just looked at the indicator on the top left of my screen which gives me the daily range:

EUR$ - Friday = 362pips, Today already 395pips

Cable - Friday = 490pips, today already 364pips

EY - Friday = 385pips, today only 425pips

Scary!!! I hope somebody is making pips from the moves. Very difficult to tell when the price will turn during a move.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080915 5min trade 1.1.JPG Size: 105 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,375
  • Sep 15, 2008 9:27am Sep 15, 2008 9:27am
Quoting Phillip Nel
Edit
Sorry Nadia. Only saw after the post that I actually replied on your post. It was intended to be a new post.
Thanks

I have spend some time on the 5min today and realised that the 5min candles have increased in pips quite a bit lately. That makes it difficult to have a 6-10pip stop with spread added. I have traded the 5min today and at times my stop was above 20pips and I could not actually trade with stops less than that. Maybe someone can have a look into this and come up with a solution.
Phillip

I do agree with you - I already mentioned the fact that when the markets are so volatile like this, even my usual SL on Yannis EA (EUR = 15pips, Cable = 20pips and EY = 25pips) do get triggered just to see the market moves afterwards in my direction. Very frustrating.

Now I am looking at the 21MA and try and put a SL on the wrong side of the 21. But I don't feel comfortable with a large SL like that. But then, like I told you - made 60 and 100pips on EY last week in 2 trades. I just took another 70pips a few minutes ago on a 3 big brothers pattern (CT trading)crossing the 50MA on EY again. That makes a case for a larger SL in volatile markets like this.

I am just very careful with my entries and I don't let the market fool me - trying to take all the nice setups. I am sure I do miss a lot of trades but I want to get the feel for this system. This is the first time I do experience such volatility on my 3 pairs (almost like the GBPYJP - which I've tried with this system but the pair was just too volatile). And I want to get the necesary experience from it.

Lets see what is going to happen.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,376
  • Sep 15, 2008 9:30am Sep 15, 2008 9:30am
Quoting bshadroo
YESSS
i recongnize that and i think market will come to the normal situation soon or late.it usually happends in the big profit takings (like now wich eu moved from 1.6 to 1.38 very fast or last year's august for carry trades)but in this time there is no way to put a 10pips stoploss ,it will be hitted for sure maybe decreasing the contract size is the solution.it means one can trade 1/2 lot (if he always trading 1lot)and put 20pips SL and 20pips TP.
Reducing of the position size with a 20stoploss. Thanks. That would be the answer.
  • #5,377
  • Sep 15, 2008 9:44am Sep 15, 2008 9:44am
The CT EY trade mentioned in previous post - I don't really want to post it because it is CT trading (50MA is not yet in position) but I just want to show my R:R approach and SL placement.

And/But I like Mkain's 3 big brothers pattern when the 3rd brother is above the 50MA and finding support on the 50MA and the MACD plays along.

I hope I didn't confuse anybody - if I did, please respond so that I can explain.
Attached Image (click to enlarge)
Click to Enlarge Name: 20080915 5min trade 2.1.JPG Size: 129 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,378
  • Sep 15, 2008 12:42pm Sep 15, 2008 12:42pm
it could be a good triangle breakout trade if it was a better time in the day
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 17 KB
  • #5,379
  • Edited 2:43pm Sep 15, 2008 1:06pm | Edited 2:43pm
Quoting bshadroo
it could be a good triangle breakout trade if it was a better time in the day
Hi Bs

I do agree with you - too bad it developed so late in the day.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.1.JPG Size: 110 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,380
  • Sep 15, 2008 1:51pm Sep 15, 2008 1:51pm
Quoting bshadroo
YESSS
i recongnize that and i think market will come to the normal situation soon or late.it usually happends in the big profit takings (like now wich eu moved from 1.6 to 1.38 very fast or last year's august for carry trades)but in this time there is no way to put a 10pips stoploss ,it will be hitted for sure maybe decreasing the contract size is the solution.it means one can trade 1/2 lot (if he always trading 1lot)and put 20pips SL and 20pips TP.
Hi Bs

Thanks Bs, great piece of advice.
Willem Forex recipe for success = Patience, discipline & hard work.
1 trader viewing now