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The Force 5min system

  • #861
  • Nov 16, 2008 9:50pm Nov 16, 2008 9:50pm
It was a long trade. The green dash line is my entry point. Looks like the trend lines are a little easier to spot now however...so it should make things a little easier. A short trade is forming now.
Attached Image (click to enlarge)
Click to Enlarge Name: trade2[11-16-2008].gif Size: 18 KB
  • #862
  • Nov 16, 2008 9:55pm Nov 16, 2008 9:55pm
Tried 3 times to break the 1.2590 area since Asian session opened, will next time be lucky?
  • #863
  • Nov 16, 2008 10:00pm Nov 16, 2008 10:00pm
Okay, I see what you were meaning now. Great job. This is my first day trading the system (I will begin in 1 hour). Looks like it's very solid. Keep up the great work and collect those pips.

Quoting eddiegrey
It was a long trade. The green dash line is my entry point. Looks like the trend lines are a little easier to spot now however...so it should make things a little easier. A short trade is forming now.
  • #864
  • Nov 16, 2008 10:02pm Nov 16, 2008 10:02pm
Quoting Vantage
Tried 3 times to break the 1.2590 area since Asian session opened, will next time be lucky?
Yes ....seems like we have strong resistance a7 1.2590. Break will open door for long move and maybe closing big gap from opening this morning...we have to wait and see
  • #865
  • Nov 16, 2008 10:21pm Nov 16, 2008 10:21pm
Okay. That upper resistance is pretty strong. I just got a short signal. I hope it plays out!
Attached Image (click to enlarge)
Click to Enlarge Name: trade2.5[11-16-2008].gif Size: 20 KB
  • #866
  • Nov 16, 2008 10:32pm Nov 16, 2008 10:32pm
Started turning on me so I moved my s/l up and it took me out at +4 pips. That makes +28 for the day!
  • #867
  • Nov 16, 2008 10:33pm Nov 16, 2008 10:33pm
Bullish divergence maybe forming? Nice trade short for a couple pips. A lot of resistance long. Hopefully this time it can break the upper tl

Quoting eddiegrey
Okay. That upper resistance is pretty strong. I just got a short signal. I hope it plays out!
  • #868
  • Nov 16, 2008 10:34pm Nov 16, 2008 10:34pm
Played out just fine! You are really adding up the pips. If you don't mind me asking, where is your daily, weekly and monthly pivots located? I want to make sure I'm on the right path.

Quoting eddiegrey
Okay. That upper resistance is pretty strong. I just got a short signal. I hope it plays out!
  • #869
  • Nov 16, 2008 10:40pm Nov 16, 2008 10:40pm
I have short position on EURUSD, lets see how it plays.
My edge ===> Patience
  • #870
  • Nov 16, 2008 10:42pm Nov 16, 2008 10:42pm
Quoting Siuol
Played out just fine! You are really adding up the pips. If you don't mind me asking, where is your daily, weekly and monthly pivots located? I want to make sure I'm on the right path.
I am zoomed in pretty close on these charts...they are above. Here is a zoomed out chart. I wish I could learn to hold on to these trades a little longer...looks like that bearish move isn't through.
Attached Image (click to enlarge)
Click to Enlarge Name: trade2.75[11-16-2008].jpg Size: 128 KB
  • #871
  • Nov 16, 2008 10:42pm Nov 16, 2008 10:42pm
Head and Shoulders
Pivot Boss in the making~
  • #872
  • Nov 16, 2008 10:46pm Nov 16, 2008 10:46pm
I would not have been able to stay in that either, I am not that brave. Stochs were hooking up and emas crossed. Nasty retracement.

Quoting eddiegrey
I am zoomed in pretty close on these charts...they are above. Here is a zoomed out chart. I wish I could learn to hold on to these trades a little longer...looks like that bearish move isn't through.
  • #873
  • Nov 16, 2008 10:55pm Nov 16, 2008 10:55pm
Quoting eddiegrey
I am zoomed in pretty close on these charts...they are above. Here is a zoomed out chart. I wish I could learn to hold on to these trades a little longer...looks like that bearish move isn't through.
Hi Eddie
You shouldn't beat yourself up too badly,until that trade price had been going up all along, making higher lows and (slightly) higher highs, so no-one could have know how far it would go. You got 4 pips, the spike would have taken you out at BE if thats where you put your stop.

Jedi is very good at taking partial exits and that may be worth considering.
  • #874
  • Nov 16, 2008 10:55pm Nov 16, 2008 10:55pm
Thanks. My daily pivot is 1.2658, weekly is 1.2640. Do you know how I get those updated? I know major s/r and pivots are a huge part of this system and I don't think mine are correct.

Quoting eddiegrey
I am zoomed in pretty close on these charts...they are above. Here is a zoomed out chart. I wish I could learn to hold on to these trades a little longer...looks like that bearish move isn't through.
  • #875
  • Nov 16, 2008 10:57pm Nov 16, 2008 10:57pm
Anyone brave enough to take the next long signal with all the resistance in your way?

Quoting Vantage
Hi Eddie
You shouldn't beat yourself up too badly,until that trade price had been going up all along, making higher lows and (slightly) higher highs, so no-one could have know how far it would go. You got 4 pips, the spike would have taken you out at BE if thats where you put your stop.

Jedi is very good at taking partial exits and that may be worth considering.
  • #876
  • Nov 16, 2008 10:57pm Nov 16, 2008 10:57pm
Quoting Vantage
Hi Eddie
You shouldn't beat yourself up too badly,until that trade price had been going up all along, making higher lows and (slightly) higher highs, so no-one could have know how far it would go. You got 4 pips, the spike would have taken you out at BE if thats where you put your stop.

Jedi is very good at taking partial exits and that may be worth considering.
Thanks Vantage!

I am learning that there is a LOT to be said about support and resistance within this system. No losses yet! So I can't complain. I'm completely happy with +28 pips for a couple hours of trading!
  • #877
  • Nov 16, 2008 11:00pm Nov 16, 2008 11:00pm
Quoting sirogreness
Anyone brave enough to take the next long signal with all the resistance in your way?
Not really sure. I was under the assumption they update themselves. Today is the first time I've used that indicator. It COULD be a difference in brokers. Seems like I read there were significant differences in these numbers from broker to broker. I could be wrong. I'm demoing with Alpari US... I've got accounts with ibfx, fxdd also...not sure if they are different.
  • #878
  • Nov 16, 2008 11:01pm Nov 16, 2008 11:01pm
I'm all for learning and it's demo so I'm going to take it.

Quoting sirogreness
Anyone brave enough to take the next long signal with all the resistance in your way?
  • #879
  • Nov 16, 2008 11:02pm Nov 16, 2008 11:02pm
I use the multi time frame pivot indicator. The numbers on ibfx seem to be way different than the others.

Quoting eddiegrey
Not really sure. I was under the assumption they update themselves. Today is the first time I've used that indicator. It COULD be a difference in brokers. Seems like I read there were significant differences in these numbers from broker to broker. I could be wrong. I'm demoing with Alpari US... I've got accounts with ibfx, fxdd also...not sure if they are different.
  • #880
  • Nov 16, 2008 11:03pm Nov 16, 2008 11:03pm
Quoting Vantage
Hi Eddie
You shouldn't beat yourself up too badly,until that trade price had been going up all along, making higher lows and (slightly) higher highs, so no-one could have know how far it would go. You got 4 pips, the spike would have taken you out at BE if thats where you put your stop.

Jedi is very good at taking partial exits and that may be worth considering.
True, for me i am not much of a risk taker. I would close 50% to 80% at 10 pips. And let the rest ride, like our Jedi master.
Pivot Boss in the making~
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