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The Force 5min system

  • #61
  • Oct 30, 2008 5:45am Oct 30, 2008 5:45am
No problem I hope you enjoy it.

Quoting Ezzy
Thanks for the strategy Forexjedi, over here in OZ it is only 9.26 pm therefore lots more time to trade.

Cheers mate
Victor
Stacking pips since 2002
  • #62
  • Oct 30, 2008 5:49am Oct 30, 2008 5:49am
Quoting ChowClown
....2nd trade (the last long) now up +30 and trailing now below the 5min lows...my bias is still short and given price is now at R1 it can turn quickly.
...and still it runs, up to test the earlier session support levels....would be a nice short set-up from here..soon see. Current stop on long now locking in +48.
  • #63
  • Oct 30, 2008 5:53am Oct 30, 2008 5:53am
Welcome to The Force 5min system. This is what it does, it makes pips if traded correctly.


Quoting ChowClown
...and still it runs, up to test the earlier session support levels....would be a nice short set-up from here..soon see. Current stop on long now locking in +48.
Stacking pips since 2002
  • #64
  • Oct 30, 2008 5:58am Oct 30, 2008 5:58am
Please forgive a newbie....specially for asking so many questions, but what is R1
What you do is a reflection of you....what I do is a reflection of me.
  • #65
  • Oct 30, 2008 6:05am Oct 30, 2008 6:05am
7 wins 1 loss for the first night ! About 125 pips in demo trade !
Luk
  • #66
  • Oct 30, 2008 6:07am Oct 30, 2008 6:07am
Quoting forexjedi
Welcome to The Force 5min system. This is what it does, it makes pips if traded correctly.
Reminds me of other methods I've tried but with some slight (maybe vital?) tweaks.
The BIG question: how long have you run this method?

Did you use it before the ongoing financial chaos of the last few weeks?

Do you use Fibs, Pivots, S/R lines or any other indicators at all? None shown in template or chart.

It would help if you posted a few more charts -good and bad- please?

R
  • #67
  • Oct 30, 2008 6:07am Oct 30, 2008 6:07am
Quoting Ezzy
Please forgive a newbie....specially for asking so many questions, but what is R1
Maybe visit babypips.com for these kind of questions ! It will be good for you !
Luk
  • #68
  • Oct 30, 2008 6:08am Oct 30, 2008 6:08am
This system feels like an easier system to trade, one that you probably doesn't need a person to be at the computer all day.
What you do is a reflection of you....what I do is a reflection of me.
  • #69
  • Oct 30, 2008 6:10am Oct 30, 2008 6:10am
Quoting Ezzy
Please forgive a newbie....specially for asking so many questions, but what is R1
A resistance level - from price levels of the previous day. You can find pivot point indicators on FF through the search facility. I find them useful to refer to each session.
  • #70
  • Oct 30, 2008 6:13am Oct 30, 2008 6:13am
Quoting Ezzy
This system feels like an easier system to trade, one that you probably doesn't need a person to be at the computer all day.
hmm, i personally wouldn't use the strat as set and forget, especially the way things are atm. Just personal choice.
  • #71
  • Oct 30, 2008 6:14am Oct 30, 2008 6:14am
Hello there,

I like your system. Sounds very good&simple. Congrats.

I Use Oanda. Best settings for Oanda's platform please?

Best Regards
Ready for War
  • #72
  • Oct 30, 2008 6:22am Oct 30, 2008 6:22am
Hey Pipsrider I might consider you suggestion and do a bit of studying at babypis. In regards to Pivot points?? I still can't quite understand it.

Back to school for me!
What you do is a reflection of you....what I do is a reflection of me.
  • #73
  • Oct 30, 2008 6:23am Oct 30, 2008 6:23am
Quoting AJR
Hello there,

I like your system. Sounds very good&simple. Congrats.

I Use Oanda. Best settings for Oanda's platform please?

Best Regards
I use Oanda too but use MT4 for the charting.
  • #74
  • Oct 30, 2008 6:25am Oct 30, 2008 6:25am
...be interesting to see where this short signal takes us...swing low first perhaps.

edit: forgot R1 in way to hurdle first ! be careful short here.
  • #75
  • Oct 30, 2008 6:36am Oct 30, 2008 6:36am
Quoting Ezzy
Hey Pipsrider I might consider you suggestion and do a bit of studying at babypis. In regards to Pivot points?? I still can't quite understand it.

Back to school for me!
Pivots, support, resistance, price action, is a must with any strategies !
Learning process come with any market !

Luk
  • #76
  • Oct 30, 2008 7:05am Oct 30, 2008 7:05am
Ine been trading this method for a year. The only time its been affected by the recent financial chaos is the occasional widening of spreads by broker due to banks widening their spreads. I use weekly and monthly pivots as daily pivots are easily broken and frail. my pivots are caculated manually every sunday before open and a second calculation is made in the 4 hour gap or x spot in the sunday chart. I use both because no one really knows where the big money is hiding. The monthly is calculated on the first of each month. I just write em on a post it and stick it on my monitor. Im not that good with the chart art but ill try to get some together and post them when I start trading again tomorrow. The best thing for you to do is bring up your charts and go to my journal and follow each trade as they developed. Its all detailed by times. Theres even details on the market action between the trades inlucding my thoughts on where its going to go and why ill trade when it gets to that specific point.


Quoting rorieu
Reminds me of other methods I've tried but with some slight (maybe vital?) tweaks.
The BIG question: how long have you run this method?

Did you use it before the ongoing financial chaos of the last few weeks?

Do you use Fibs, Pivots, S/R lines or any other indicators at all? None shown in template or chart.

It would help if you posted a few more charts -good and bad- please?

R
Stacking pips since 2002
  • #77
  • Oct 30, 2008 7:08am Oct 30, 2008 7:08am
Good call. I sit at my pc for the whole seven hours waiting for the trade setups. Leaving your pc only means youll miss trades or loose money. Theres to many things that can happen like support bounces and what not.

Quoting ChowClown
hmm, i personally wouldn't use the strat as set and forget, especially the way things are atm. Just personal choice.
Stacking pips since 2002
  • #78
  • Oct 30, 2008 11:35am Oct 30, 2008 11:35am
Looks interesting. Thanks for sharing.

Dan
  • #79
  • Oct 30, 2008 4:30pm Oct 30, 2008 4:30pm
I'm very interested in your system. I started off trading the 5 minute charts 3 years ago and recenctly have tried to scalp the 1 minute. Seems like you have a solid 5 minute system here. I will give it a look on Sunday when the market opens up and you post your next post. My weekly goal is 100 pips and you did half of that in one day.
  • #80
  • Oct 30, 2008 11:06pm Oct 30, 2008 11:06pm
If traded correctly by the rules only its safe to say youll make you 100 pips a week.

Quoting Dl1982
I'm very interested in your system. I started off trading the 5 minute charts 3 years ago and recenctly have tried to scalp the 1 minute. Seems like you have a solid 5 minute system here. I will give it a look on Sunday when the market opens up and you post your next post. My weekly goal is 100 pips and you did half of that in one day.
Stacking pips since 2002
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