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5Min Intraday System

  • #5,561
  • Oct 8, 2008 5:47pm Oct 8, 2008 5:47pm
Quoting forexunder
Powerfull sell entry is building up....
Talk about nice scalping...+23pips in ~15min.!!!
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  • #5,562
  • Oct 8, 2008 6:23pm Oct 8, 2008 6:23pm
Looks like it is going for S1 now....
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  • #5,563
  • Edited 1:31am Oct 9, 2008 1:09am | Edited 1:31am
Here is my trade for the day... 18 pips. 3 big brothers with support on the 21MA after it had crossed the 50 MA. There was also a TC
Edit: It was actually 25 pips, even better
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  • #5,564
  • Oct 9, 2008 1:15am Oct 9, 2008 1:15am
Here is my trade on the Euro. I saw 3705 as support. I was up 7 pips and set my SL to BE. My BE was hit... what a bummer because you can see what happened after
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  • #5,565
  • Oct 9, 2008 5:56am Oct 9, 2008 5:56am
Quoting Morelands
Here is my trade for the day... 18 pips. 3 big brothers with support on the 21MA after it had crossed the 50 MA. There was also a TC
Edit: It was actually 25 pips, even better
Yet, that was a nice third brother with a TC. My TP would have been that double top formed earlier
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,566
  • Oct 9, 2008 3:54pm Oct 9, 2008 3:54pm
i really dont know why this TC didnt work,everything looked good ,price breaked the TL to up side and then came back to see it again and the started to go away with a TC and made the 3rd big brother at the same time.but it fall at the next candle after the TC and i closed it -20pips.
do u have any idea that why this didnt work?
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  • #5,567
  • Oct 9, 2008 9:55pm Oct 9, 2008 9:55pm
Quoting Dahlia
Just wondering how everyone's doing with this strategy in this crazy market. Anybody care to share their profitability during the months of September and October (so far) compared to all previous months? Be as specific or as vague as you would like. I'm just trying to gauge how the system does in all kinds of market conditions.

I for one have decided to stop trading after a small profit this morning. What with the crazy spread, the choppy conditions, the surprise bit of news that seem to be popping around every corner lately, I figured that it would do me more good to temporarily study from the sidelines...

Phillip and Golfer, I'd love to hear how you guys are doing with this strategy for the last month and a half compared to all the prior months/year.

Thanks in advance!
Dahlia
Up to now I didn't keep records of my trades - already discussed why a few pages ago on this thread. So I won't be able to give you stats.

This week I increased my account and now it is down to serious trading - this 5min system and another EA system I found to work for me.. After more than 2 years of practising, I do feel comfortable with this system and the setups I want to take/enter. Unfortunately it was just too busy at work and didn't have enough time to trade. I also didn't see the setups I am familiar with during the times that I was able to trade.

So, no trade so far for me this week. Now that is discipline and patience! I am not going to enter a trade if I am not comfortable with the setup.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,568
  • Oct 9, 2008 11:10pm Oct 9, 2008 11:10pm
Quoting bshadroo
i really dont know why this TC didnt work,everything looked good ,price breaked the TL to up side and then came back to see it again and the started to go away with a TC and made the 3rd big brother at the same time.but it fall at the next candle after the TC and i closed it -20pips.
do u have any idea that why this didnt work?
Hi Bs

Like I said in my previous post - lately, I do struggle to get a nice setup.

My comment:

A = in that rectangle you do expect a zero break but it didn't happen. Warning for me!

B = it just continue in rectangle B below the zero line

A & B = this is one of my strong negative signals I am looking for. If the MACD stays below the zero line with one green after a red bar, I'll stay out of the setup. Zero break should occur withing 2-3bars.

C & D = is forming a double top - even below the previous high. Another strong negative signal. It could be 3 little sisters as well. Conflicting message.

E = like I've said before, I don't like activities below the 21MA. This was an example thereof.

F = I always take the first pullback towards the war zone for my first Small support line.

G = the second pullback is a point for my second small support line

As you can see you all already on your third small support line - very risky. Market is losing momentum.

It was a TC and your entry should have been on the opening of that last candle on your chart (which you did). The second last candle was a nice power candle but all the negative signals would have kept me out. Even though it could have worked out.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,569
  • Oct 10, 2008 5:05am Oct 10, 2008 5:05am
Two trades today on the euro. One a steeple trade that barely made the 10 pips. The other a three sister trade that went well beyond the 10 pips.
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  • #5,570
  • Oct 12, 2008 10:03am Oct 12, 2008 10:03am
Quoting mdowd
Two trades today on the euro. One a steeple trade that barely made the 10 pips. The other a three sister trade that went well beyond the 10 pips.
I didn't trade on Friday because we left early on Friday for a weekend away. Just arrived home and looking at your chart:

See how I would have drawn My Small support lines - three of them. Pullback A was used for my first line. Pullback B to use the second one.

The came pullback C - activities below the 21 telling me to be very careful. Two lower highs as well - another negative signal. And then nasty tail forming the high.

Then a nice TC (not really a power candle) was formed and the setup gave a minimum of 10pips - entry was the first price tag. I wouldn't have taken that setup because the negative signals as well as - if you look closely, a Bearish 3 pattern was forming but it was cancelled by that large bullish candle.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,571
  • Oct 12, 2008 10:23am Oct 12, 2008 10:23am
Quoting mdowd
Two trades today on the euro. One a steeple trade that barely made the 10 pips. The other a three sister trade that went well beyond the 10 pips.
I would have gone for the 2nd setup (3rd sister) mentioned by you.

Look at the Bearish 3 pattern been formed. I would have taken the 2nd TC marked on the chart because one has already the first 2 small candles after the big bearish candle forming the Bearish 3 pattern.

Also, everything is happening below my first small resistance line. Just remember that this setup is not according to the rules (look at the 21 on the SMAangle) but I'll take the odds on if it is a 3 little sisters' formation.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,572
  • Oct 12, 2008 12:14pm Oct 12, 2008 12:14pm
Hi all

I'm new to the concepts of the 4 hour MACD system as well as the 5 minute system and trying to absorb what seems to be a mountain of info. Initially in the beginning, there was no mention of MACD on the 5 minute charts (just the ADX and the angle indicator). Seems like the MACD is now added. Can someone fill me in on this, or steer me in the right direction. This is an incredible thread and I thank everyone for sharing

Peter
  • #5,573
  • Oct 13, 2008 12:42am Oct 13, 2008 12:42am
no comment!
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  • #5,574
  • Oct 13, 2008 12:53am Oct 13, 2008 12:53am
The second brother forms, watching for 3rd brother on eurusd.
  • #5,575
  • Oct 13, 2008 1:30am Oct 13, 2008 1:30am
....completes the 3rd brother, hopefully we can take profit from the longs.
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  • #5,576
  • Oct 13, 2008 9:02am Oct 13, 2008 9:02am
A lot of nice trades today. The easiest was this ellipse on gu for 15 pips
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  • #5,577
  • Oct 13, 2008 9:03am Oct 13, 2008 9:03am
Here is my first trade in weeks. I was just too busy at work and I saw this setup a few minutes before I had to go to a meeting. The reason for me early exit. I would have stayed with the trade if I had the time.

Edit - Mdowd, you beat me to it!!!! LOL. Great one!!!
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,578
  • Oct 13, 2008 10:29am Oct 13, 2008 10:29am
Quoting emacro
....completes the 3rd brother, hopefully we can take profit from the longs.
Be careful with the 3 big brothers. Make sure there is a higher high. Once I see a lower high like "A", I'll wait because I triangle could be formed. And was evident with the resistance level "C" found. Now I'll wait for a breakout trade and I'll ignore the 3 big brothers and concentrate on the triangle.

I marked all the TCs and I think the 1st was on. I would have taken it. Then the lower high was formed. After that I'll be more careful and probably ignore the 2nd and 3rd TC to see what is going to happen.

Look at the nice breakout and pullback - if it was just below the 50MA.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,579
  • Oct 13, 2008 10:42am Oct 13, 2008 10:42am
Reading the charts and a high risk trade for 5pips.

So nice to read the signs on the chart but very frustrating if one cannot maintain the same level of discipline. This trade was not on!!!!!
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,580
  • Oct 14, 2008 2:49am Oct 14, 2008 2:49am
A church steeple with an ellipse for 12 pips
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