5Min Intraday System | Page 23 | 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

  • #441
  • Feb 20, 2007 4:45pm Feb 20, 2007 4:45pm
Quoting Matsu
For exit, try the 3-10 oscillator. You can use MACD set at 3, 10, 16. After a good move, exit when the MACD line crosses the signal line.

Matsu
hi there Matsu
can u pls explain a bit further on how to set up this 3,10,16 on MACD. what apply to button you use in metatrader eg. will u plot it seperately or on the chart itself? if on chart then how u do it in mt4.

I appreciate all your help
Thanks
tasse
  • #442
  • Feb 20, 2007 11:47pm Feb 20, 2007 11:47pm
want to ask one thing.. the MA is set to " Close" or "Low"?
  • #443
  • Feb 21, 2007 4:46am Feb 21, 2007 4:46am
Quoting wan_grunge
want to ask one thing.. the MA is set to " Close" or "Low"?
all MAs are set to "close"
  • #444
  • Feb 21, 2007 6:17am Feb 21, 2007 6:17am
Hi Phil and All!

Do you take signal in front of 00 level? For example long at 1.4095 with limit 1.4105. In my opinion it’s ok to enter at least 8pips before 00 level to take profit when this level is reached. What do you think?

Thanks
  • #445
  • Feb 21, 2007 8:11am Feb 21, 2007 8:11am
Quoting tasse
Hi Guys
I just discovered this thread today and it looks really great. And everyone seems to understand and follow it. but when I tried to put the EMA's and SMA into the mertatrader i didnt know what value to use for "apply to" action button. I would be grateful if anyone can explain the system in more details in terms of setting it up in metatrader4 for novices like myself.

All your help is much appreciated.
Thanks
tasse

I m not shure i understand you in the right way, but all the three MovingAverages are apply to the CLOSE.

You have the Simpel Moving Average with 50 apply to close.
You have the Expotential Average with 21 apply to close.
You have the Expotential Average with 10 apply to close.

The last two EMAs building the channel for the area of Entry, if the SMA 50 - who shows the trend- is rising or falling 20 degrees or more.
Take time to watch yourself this methodic.
  • #446
  • Feb 21, 2007 10:02am Feb 21, 2007 10:02am
thanks Woju2 and Zendo
  • #447
  • Feb 21, 2007 3:12pm Feb 21, 2007 3:12pm
Hi,

This system demands a bit more that an EA can cover I think. For instance, as the past two days: The EUR/USD has generated several signals if you consider only angel and enter into the zone, but you would not enter because of all whipsawing. If you stay out of the signals given when the market is freaky, then you have an even higher rate of success.

This I belive can only be judged by the human eye/brain.

Look at the examples given in the beginning of this thread. You can see that the high probability signals is given when market is quiet calm, and then breaks out.

I will wait for those moments, at least with my live account!

Regards
  • #448
  • Feb 21, 2007 4:11pm Feb 21, 2007 4:11pm
Quoting jogge
Hi,

This system demands a bit more that an EA can cover I think. For instance, as the past two days: The EUR/USD has generated several signals if you consider only angel and enter into the zone, but you would not enter because of all whipsawing. If you stay out of the signals given when the market is freaky, then you have an even higher rate of success.

This I belive can only be judged by the human eye/brain.

Look at the examples given in the beginning of this thread. You can see that the high probability signals is given when market is quiet calm, and then breaks out.

I will wait for those moments, at least with my live account!

Regards
Your are quite right! I never would trade it with an EA.
An another thing to consider is: The price often goes between the SMA50 and the Channel. Entry in the channel is not always the best entry ....
But its really a nice methodic.
Greetings
  • #449
  • Feb 21, 2007 4:18pm Feb 21, 2007 4:18pm
Hello,

no one MUST trade with the EA, it was only developed for people who want.
BUT IS NOT A PROBLEM WITH THE EA, it is the market how change often very funny.
And yes of course there are many wrong trades, but this is not importend.

No system is perfect or give you 100% right signals. BUT when the EA got more win trades then lose trades, THEN he do his job.

And i trade with the EA for one week, and i know that the win trades are many more. Thats all, thats the game. What happens if you win more then you lose ?

Cheers
Mobsie
  • #450
  • Feb 21, 2007 4:21pm Feb 21, 2007 4:21pm
Quoting Mobsie
Hello,

.....
BUT IS NOT A PROBLEM WITH THE EA, it is the market how change often very funny.
And yes of course there are many wrong trades, but this is not importend.

No system is perfect or give you 100% right signals. BUT when the EA got more win trades then lose trades, THEN he do his job.

And i trade with the EA for one week, and i know that the win trades are many more. Thats all, thats the game. What happens if you win more then you lose ?

Cheers
Mobsie

I think it was a difficult week so far ....
So its good to hear that you are on the plus side with the EA :-)
Greetings
  • #451
  • Feb 21, 2007 4:27pm Feb 21, 2007 4:27pm
Hi,

yes a difficult week, but this week demonstrate the power off the system from Phil. The Power to earn A LOT of smal pips, and not try to follow a trend where is no trend.

Mobsie
  • #452
  • Feb 21, 2007 8:12pm Feb 21, 2007 8:12pm
Quoting jogge
Hi,

This system demands a bit more that an EA can cover I think. For instance, as the past two days: The EUR/USD has generated several signals if you consider only angel and enter into the zone, but you would not enter because of all whipsawing. If you stay out of the signals given when the market is freaky, then you have an even higher rate of success.

This I belive can only be judged by the human eye/brain.

Look at the examples given in the beginning of this thread. You can see that the high probability signals is given when market is quiet calm, and then breaks out.


I will wait for those moments, at least with my live account!

Regards
This message is for Mobsie.
Hi Mobsie, I feel there should be a filter for this in your EA to awoid whipsaws.
Good Luck.
-Chandra
  • #453
  • Feb 22, 2007 4:14pm Feb 22, 2007 4:14pm
Quoting Mobsie
Hello,

no one MUST trade with the EA, it was only developed for people who want.
BUT IS NOT A PROBLEM WITH THE EA, it is the market how change often very funny.
And yes of course there are many wrong trades, but this is not importend.

No system is perfect or give you 100% right signals. BUT when the EA got more win trades then lose trades, THEN he do his job.

And i trade with the EA for one week, and i know that the win trades are many more. Thats all, thats the game. What happens if you win more then you lose ?

Cheers
Mobsie
Hi,

I did not mean to talk down your EA. You have put effort into that one and it do work the way it is supposed to.

I have had it running for some days (whipsawing days), and it took mostly loosers. To be spesific if was this week, monday - tuesday - EUR/USD. I know that you cant judge a system after a few days, and off course not an EA eather.

If you for instance would have been useing, during those "bad" days, a Stochastic 14, 3, 3 and some fibo levels, most of the loosers would have been eliminated.

But again, as you say, if the EA catches more winners, no need for changing.

Will post screen shot in a few to show how stochastic COULD help. Then you are moving away from the original PhilNell system, be aware!

Actually I got the idea from Stefant's screen shot... No credit to me.

Regards
  • #454
  • Feb 22, 2007 4:32pm Feb 22, 2007 4:32pm
Here is chart as promised
Attached Image
  • #455
  • Feb 23, 2007 5:14am Feb 23, 2007 5:14am
Hello jogge,

thanks i will try. But i have found an very god way to filter the wrong trad near 95-99%.

Maybe i post it here when finish.

Mobsie
  • #456
  • Feb 23, 2007 7:22am Feb 23, 2007 7:22am
If you are in front of screen right now, there has just been a break out on EUR/USD and GBP/USD. I will probably enter if stochastic goes below at least 27,9 level and price draw back into zone...

Wait and see -

Regards
  • #457
  • Feb 23, 2007 7:47am Feb 23, 2007 7:47am
Sorry for not so active here. 4 Hour strategy keeps me very busy.
Thanks Mobsie for the effort and hard work. I know you will come up with something that will give more winners than losers even when it is difficult.
I am currently watching the Gbp for a long entry.
  • #458
  • Feb 23, 2007 9:01am Feb 23, 2007 9:01am
Again a chart from me showing this 5 min strategy in collaboration with woodie's ZLR pattern. When these two pattern come at the same time the winning ratio is very high
Attached Image
  • #459
  • Feb 23, 2007 5:48pm Feb 23, 2007 5:48pm
Mobsie,

We all appreciate what you are doing, Thanks again.

Jim
  • #460
  • Feb 23, 2007 7:27pm Feb 23, 2007 7:27pm
  •  Trader#0000
  • | Status: Unregistered Trader
Hi all. I started following this tread from the beginning but found myself a bit distracted. It has probably been at least a month and a half since I have checked back on this tread and have seen this system go through some major developments.

Much of these changes are scattered in throughout this thread.

Just wondering has anybody put summary of where this system is now at?
2 traders viewing now