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Forex intraday using the 5min chart: EURUSD 108 replies

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5Min Intraday System

  • #5,721
  • Nov 4, 2008 4:09am Nov 4, 2008 4:09am
Yes, only careness. During these volatile days stops are taken out like nothing. Using low leverage I don't care about any +/- 50 pips...

BTW: I do use stops but only to secure my entries. So I use break even stops...
  • #5,722
  • Nov 4, 2008 5:41am Nov 4, 2008 5:41am
closed -6pips after next candle closed bearish
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  • #5,723
  • Nov 4, 2008 6:10am Nov 4, 2008 6:10am
Quoting bshadroo
closed -6pips after next candle closed bearish
look what happends after i closed.was i right to close my trade?what do u think ? what should i do next time?
my experience says when u see a bad candle after a very nice smooth TC ,it means it may not work and if it wanted to goes up it should make a higher high with the next candle or at lest it should not make the macd red again(but this time was different),do u agree?
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  • #5,724
  • Nov 4, 2008 6:25am Nov 4, 2008 6:25am
Quoting bshadroo
look what happends after i closed.was i right to close my trade?what do u think ? what should i do next time?
bshadroo, my SL would be at this violet line (2nd candle after last low)

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Regards,

Alex
  • #5,725
  • Nov 4, 2008 6:59am Nov 4, 2008 6:59am
Quoting bshadroo
look what happends after i closed.was i right to close my trade?what do u think ? what should i do next time?
my experience says when u see a bad candle after a very nice smooth TC ,it means it may not work and if it wanted to goes up it should make a higher high with the next candle or at lest it should not make the macd red again(but this time was different),do u agree?
HI!
I couldn't trade today due to my bad internet connection.(Sometimes it happens.) If i was online, i defenetly would take that setup. and i probably be out with little loss just like you did. I realy don't feel comfortable after bearish power candle when i'm going long and vice versa.
  • #5,726
  • Nov 4, 2008 7:11am Nov 4, 2008 7:11am
My trades today... I missed the final run, but that's ok...

#1: EUR/USD
Entry: Long @1.26113
Close: 1.26346
Remarks:
Spread: 3.0
Max minus: -24.0pips
Max plus:
Result: +23.3 pips

#2: EUR/USD
Entry: Long @1.26321
Close: 1.26632
Remarks:
Spread: 1.8
Max minus: -16.8 pips
Max plus:
Result: +31.1 pips

#3: EUR/USD
Entry: Long @1.26445
Close: 1.26690
Remarks:
Spread: 0.9
Max minus: -7.8 pips
Max plus:
Result: +24.5 pips

http://www.xaron.net/dl/fx/2008/intr...usd_041108.png

Regards - Xaron
  • #5,727
  • Nov 4, 2008 8:20am Nov 4, 2008 8:20am
Looks like another drop is expected...

Wuahhh

Quoting bshadroo
good triangle breakout but no chance for entry
  • #5,728
  • Nov 4, 2008 7:06pm Nov 4, 2008 7:06pm
good trading today, nice job
Raymond
[quote=Xaron;2325275]My trades today... I missed the final run, but that's ok...
  • #5,729
  • Nov 5, 2008 8:13am Nov 5, 2008 8:13am
Thanks! Yesterday was easy, today was somewhat difficult - so time for multiple entries.

Has worked fine:

http://www.xaron.net/dl/fx/2008/intr...usd_051108.png

Regards - Xaron
  • #5,730
  • Edited 8:44am Nov 5, 2008 8:19am | Edited 8:44am
thx ithorror and sher-net for the answears
golfer:where r u these days ?plz answer my question in post #5723 if its possible
thx
  • #5,731
  • Nov 5, 2008 9:22am Nov 5, 2008 9:22am
i didnt trade because of news
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  • #5,732
  • Nov 5, 2008 9:40am Nov 5, 2008 9:40am
Quoting bshadroo
look what happends after i closed.was i right to close my trade?what do u think ? what should i do next time?
my experience says when u see a bad candle after a very nice smooth TC ,it means it may not work and if it wanted to goes up it should make a higher high with the next candle or at lest it should not make the macd red again(but this time was different),do u agree?
Sorry, Bs, very busy gathering data for my PhD degree. No time to trade. Hopefully it will get better later this month/Dec again.

No problem with the trade - nice setup. I don't really exit on the first sign of price turn around. I'll give it 2-3 candle to see and then try to exit as close to BE as possible.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,733
  • Nov 5, 2008 9:43am Nov 5, 2008 9:43am
Quoting Golfer
Sorry, Bs, very busy gathering data for my PhD degree. No time to trade. Hopefully it will get better later this month/Dec again.

No problem with the trade - nice setup. I don't really exit on the first sign of price turn around. I'll give it 2-3 candle to see and then try to exit as close to BE as possible.
thank u willem,it is very nice to here u r trieng for PHD.well done both in trading and PHD. (also in golf )
  • #5,734
  • Nov 5, 2008 10:47am Nov 5, 2008 10:47am
For Saka - examples of 3 little sisters:

1st one is the 1min EUR - just an example but I took it for 10pips.

2nd one is an example on Cable where the 3rd sister wasn't formed.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,735
  • Nov 5, 2008 11:35am Nov 5, 2008 11:35am
Just a pullback a won't consider.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,736
  • Nov 5, 2008 12:13pm Nov 5, 2008 12:13pm
Quoting Golfer
Just a pullback a won't consider.
i didnt like to post this trade because was not according the rules,but ur post made me to post it from my archive ,there is an intresting thing for me to learn wich i have seen many times:" if i dont follow the rules but entered according to the trend lines catch qiuck profit and stay out again"(i could have my 20pips profit)
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  • #5,737
  • Nov 5, 2008 1:47pm Nov 5, 2008 1:47pm
Quoting Golfer
For Saka - examples of 3 little sisters:

1st one is the 1min EUR - just an example but I took it for 10pips.

2nd one is an example on Cable where the 3rd sister wasn't formed.

Hi Willem, its been a while since I post/trade, iīve been busy with my dayjob and backtesting, but its great to be back and read posts like this, very nice explanation of 3 sisters, couldnīt be clearer for me. Good luck and I hope I can post some interesting trades soon...
  • #5,738
  • Nov 5, 2008 2:26pm Nov 5, 2008 2:26pm
A nice chart of cable with 3 trades of mine to critise!!!

I am waiting.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,739
  • Nov 6, 2008 6:21am Nov 6, 2008 6:21am
Price jus broke out few minutes ago..
Up by 85 pips before retracement
  • #5,740
  • Nov 6, 2008 7:34am Nov 6, 2008 7:34am
Quoting MxPips
Hi Willem, its been a while since I post/trade, iīve been busy with my dayjob and backtesting, but its great to be back and read posts like this, very nice explanation of 3 sisters, couldnīt be clearer for me. Good luck and I hope I can post some interesting trades soon...
Hi Mx

Welcome back - seems like we are in the same situation. Too busy with the day job. Luckily I am finished with my back testing!!!

Looking forward to see your charts again.
Willem Forex recipe for success = Patience, discipline & hard work.
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