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The Force 5min system

  • #161
  • Nov 4, 2008 12:28am Nov 4, 2008 12:28am
If your were trading my system since the beginning of the night youd be up well over 100 pips by now.
Stacking pips since 2002
  • #162
  • Nov 4, 2008 1:06am Nov 4, 2008 1:06am
Quote
Its a good system in almost all conditions. Its has its bad days but the good days which are a lot more frequent make you forget about them. The only time you need to be carefull is around major S/R.

Exactly, I use swing Hi and Lo from Higher time frame as my S/R. these are alwayz included in my chart then i include psychological numbers as well to guide me from taking large retracement against my trade.

Its a Good scalping system.........................

Will alwayz pay for my coffee while i..........
  • #163
  • Nov 4, 2008 1:41am Nov 4, 2008 1:41am
A small bad patch then the trend continue. Looks like a possible reversal in progress here.
Attached Image (click to enlarge)
Click to Enlarge Name: 5minchartnew.gif Size: 42 KB
Stacking pips since 2002
  • #164
  • Nov 4, 2008 2:01pm Nov 4, 2008 2:01pm
Jedi,

Please take a look at the chart you had posted with my notes.

The first area with the red circles, it seems to meet all your criteria - is this not a trade?

The second area with the blue boxes,I am assuming was a short. Doesn't the stoch have to cross down from the 80 area for a valid trade?

Thanks in advance - enjoying the thread and system - keep it up!
Attached Image
  • #165
  • Nov 4, 2008 6:19pm Nov 4, 2008 6:19pm
Sentinel,

I didnt realise I note that as a trade. A mistake on my part. You are correct it is not a trade if you follow the rules to my system.

jedi


Quoting sentinel
Jedi,

Please take a look at the chart you had posted with my notes.

The first area with the red circles, it seems to meet all your criteria - is this not a trade?

The second area with the blue boxes,I am assuming was a short. Doesn't the stoch have to cross down from the 80 area for a valid trade?

Thanks in advance - enjoying the thread and system - keep it up!
Stacking pips since 2002
  • #166
  • Nov 5, 2008 1:07am Nov 5, 2008 1:07am
Quoting forexjedi
The template is attached. Your going to have to add the MACD in youself which is also included by attachment.

Can anyone tell me what are the lets that show up in this MACD are?
1- VT
2- RT
3- ZB
4- TC
What are those numbers at the end of the MACD?

Thanks

Peace
  • #167
  • Nov 5, 2008 3:06am Nov 5, 2008 3:06am
we have this entry today and it sounds beautiful ...well go on

Attached Image (click to enlarge)
Click to Enlarge Name: eur m5.gif Size: 19 KB
  • #168
  • Nov 5, 2008 3:12am Nov 5, 2008 3:12am
Its a good system that produces many pips. All anyone really has to do is know their price action, have good MM and the proper RR. Success will happen with my system. I know because I use it. I will retire from my 9-5 with this system before by June 2008.

Quoting brokenguitar
we have this entry today and it sounds beautiful ...well go on

Stacking pips since 2002
  • #169
  • Nov 5, 2008 3:15am Nov 5, 2008 3:15am
Peace,

Your answers are posted below. Just to let you know these signals are not related to my system. I put them to false in the indicator settings. I found this indicator on mql4.com and adopted it because of the color changes when it goes from bull to bear ect..

Quoting Peacelover
Can anyone tell me what are the lets that show up in this MACD are?
1- VT
V bottom

2- RT
Rount Top

3- ZB
Dont know

4- TC
Trend continuation

What are those numbers at the end of the MACD?
dont know

Thanks

Peace
Stacking pips since 2002
  • #170
  • Nov 5, 2008 3:39am Nov 5, 2008 3:39am
I just want to let everyone know who follows my system that in the next week or two ill be posting several documents I have in progress on the following subjects.

Money Management
Risk Reward
Candle Stick Price Action and pivots, SR
Shoot to kill and patience

Anyone who is not having success with my system needs to know all the above sujects and how they relate to trading in their respective ways. You can not trade without a least know the basics of those subjects. Like I tell people all the time "you cant drive blindfolded" if you can your amazing. When I started this thread on my system I didnt realise how much interest would generated. I also didnt realise how much work it would be. None the less if people wan to learn ill teach. If anyone has anything they would like to contribute please post it. Further things that will be revised are the strategy. Im going to get a little more specific with it. In developement is a flow chart organised in such a fashion that it will tell you what to do when certain things happen while involved in trades such as when and where to move your SL. When to take profit based on price action. When ti stay out of the market. Why you should a have a set quota on pip loss in a day and not just per trade. For example if your SL is 20 pips you could still have 5 bad trades in a day and loose 100 pips. If you have a set amount of only -50 in a loosing day and you hit that target you need to close up shop for the day. Odds are that you will make twice that the next day. Heres an example of what you can do. You start with a set max loss of 40 pips for a day. No max gain as you never want to limit your profits. Lets see, in trade 1 you loose 20 pips. That makes your quota for neg pips half taken. In trade 2 you make 30 pips. That makes your quota for the day +10 pips. Now potentially you could loose 60 pips, but thats not going to happen. What your going to do now is only risk you profit. Take your +10 pips and calculate you RR at 1% based on a 20pip SL. Or you could call it a day, but prob not. This way your only loosing you recent profit if you have a bad trade on trade 3. If you have a good trade on trade 3 then you take the amount of equity gain for the day and repeat the process. This type of stuff will be included in my documents. Please be patient while they are in development.

Jedi
Stacking pips since 2002
  • #171
  • Nov 5, 2008 3:43am Nov 5, 2008 3:43am
Quoting forexjedi
I just want to let everyone know who follows my system that in the next week or two ill be posting several documents I have in progress on the following subjects.

Money Management
Risk Reward
Candle Stick Price Action and pivots, SR
Shoot to kill and patience

Anyone who is not having success with my system needs to know all the above sujects and how they relate to trading in their respective ways. You can not trade without a least know the basics of those subjects. Like I tell people all the time \"you cant drive blindfolded\" if you can your amazing. When I started this thread on my system I didnt realise how much interest would generated. I also didnt realise how much work it would be....
Jedi, looking forward to this. Many thanks in advance Force working well today so far on EU and GU
  • #172
  • Nov 5, 2008 3:54am Nov 5, 2008 3:54am
Quote
I just want to let everyone know who follows my system that in the next week or two ill be posting several documents I have in progress on the following subjects.

Though i trade that way but am looking forward to a better informed decision as per trading your method.

It rocks well with PA

remain blessed
  • #173
  • Nov 5, 2008 3:55am Nov 5, 2008 3:55am
Quoting forexjedi
Peace,

Your answers are posted below. Just to let you know these signals are not related to my system. I put them to false in the indicator settings. I found this indicator on mql4.com and adopted it because of the color changes when it goes from bull to bear ect..
Thank you for answering my questions. That helps me to understand what those letters were.

Thanks for a good system too

peace
  • #174
  • Nov 5, 2008 3:58am Nov 5, 2008 3:58am
FJ, this is much appreciated, particularly for new traders such as myself who will benefit immensely from this sort of information.
What you do is a reflection of you....what I do is a reflection of me.
  • #175
  • Nov 5, 2008 4:13am Nov 5, 2008 4:13am
I just want to add something here on why I chose the indicators I did and why I have them set the way I do.

MAs
5ema open and 5ema to close

These are chosen and set the way they are because a helps indentify a reversal. Almost always when they cross reversal price action is forming or has already formed. What you can do if a cross occurs while in an active trade is move your stop to the high/low of the candle that the cross occured on. This is good because it will limit your loss or secure whatever profit you may have. This way if your in profit you wont loose it all in a full reversal. I you check your charts you can see that a lot of the time a cross will occure in a apposing direction then reverse again and continue with the trend.

MACD
12,26,1
Stochs
5,3,3

I chose these because its the most used settings by traders to my knowledge. From my research these are the settings that brokers and money managers use. The point here is that its all about volume. Mass amounts of retail traders (thats us) financial institutions and money managers ect.. Are all buying and selling all at the same time. Therefor if a seel signal occures you have better odds at a success and vice versa. If you combine them together and match them up things are usually good. This is why theres almost always big movements arounds the buy/sell signals of my system.
Stacking pips since 2002
  • #176
  • Nov 5, 2008 4:21am Nov 5, 2008 4:21am
Posted below is a chart of what I was saying about moving your stop when the MAs cross if your in profit ect... The trade noted on the chart from today at 5am gmt showes how you could have moved your stop twice and made many many more pips.

Quoting forexjedi
I just want to add something here on why I chose the indicators I did and why I have them set the way I do.

MAs
5ema open and 5ema to close

These are chosen and set the way they are because a helps indentify a reversal. Almost always when they cross reversal price action is forming or has already formed. What you can do if a cross occurs while in an active trade is move your stop to the high/low of the candle that the cross occured on. This is good because it will limit your loss or secure whatever profit you may have. This way if your in profit you wont loose it all in a full reversal. I you check your charts you can see that a lot of the time a cross will occure in a apposing direction...
Attached Image (click to enlarge)
Click to Enlarge Name: 5minchartnew.gif Size: 35 KB
Stacking pips since 2002
  • #177
  • Nov 5, 2008 4:31am Nov 5, 2008 4:31am
Heres something that will help eveyone out. Put the period seperators on your charts, bring up a 5min usd/jpy and see if you can notice what happens everyday almost within the first hour of the asian session. What happens? The market adjusts itself. This happens at the beginning of every session. If you wait for the first valid signal of the session at set a 10 pip take profit you will succeed. Sometime there may be a move or trend already in progress so wait till that one reverses and then wait for all the signals to line up and that bar to close with the signals lined up and take the trade. DEMO first. Take Profit at 10 pips and SL at the low of the signal candle.
Stacking pips since 2002
  • #178
  • Nov 5, 2008 7:07am Nov 5, 2008 7:07am
Great help friend.

Thank you. Thank you.
Ready for War
  • #179
  • Nov 5, 2008 8:32am Nov 5, 2008 8:32am
Dear Forexjedi, I want to suggest to use Aishi candles instead normal candles. It will encrese amount of successeful trades. And second: stop loss is better to place under 2 recent candles from signal candle. What do you think about? Thank you for your system. It is very good.
  • #180
  • Nov 5, 2008 9:01am Nov 5, 2008 9:01am
I start today , read your system and can say really good stuff.
thanks forexjedi for share this sys.
and thanks for everyone posting here, great thread and great sys

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